New Substack piece on hedge fund leverage, liquidity, capital bases and crowded trades as we commemorate the 3 year anniversary of SVB’s implosion. It's been a tough month for hedge funds so far.
open.substack.com/pub/rupakgho...
I'm still trying to find a book I remember seeing a review of about Nazi Germany in which people claimed to be under the most appalling pressure to work with the Nazis, and then you asked for details and it was literally just more difficult to get promoted
I am also now interested in whether this applies to the artificial decision-making systems we call "organisations". Does making a government department underfunded and incompetent also make it callous and inhumane? Empirically I think the answer might be yes, but it feels like an excuse.
I think there are things which are less extreme that might be interesting here; like the fact that the vector "anti-woke" definitely seems to point in the direction "Nazi" rather than the direction "principled classical liberal". Which we all kind of suspected but it's nice to have evidence.
Our local comprehensives are run by an Academy Trust named after the esteemed local professor of education, Ted Wragg. Apparently it was very late in the day that they decided the name would be the Ted Wragg Multi-academy Trust
I always think that this FE college in Lincolnshire must occasionally think "technically it wouldn't be lying and I bet we'd get a lot of international students"
www.stamford.ac.uk
I'm amazed that none of them have had the initiative and bravery to go for "Northwestern University"
every few years society reinvents the "coffee flavored coffee" rant from first principles. in fact the first known incident of coffee-flavored-coffee induced rage dates to 1534 when Ahmad bin Abd al-Haqq al-Sunbati persuaded a group of listeners to destroy coffee shops in Cairo selling flat whites
Unlike this shower, I have rudiments of fire discipline, so I am waiting until it's time for "actually that one's Irish"
In the same way that I might consider dating Sabrina Carpenter, a nice concept but not really practical, plausible or likely and almost certainly ending with songs condemning it.
IMO the Iran bombing is a reminder that there's no "liberal abundance"/"dark abundance" synthesis to be had. You can't make progress on housing w/ someone who will take a wrecking ball to the market at a moment's notice, much less by doing war crimes. publiccomment.blog/p/the-housin...
Uk Labour's instagram account shares an image of Sir Kier Starmer standing in parliament saying "It is my duty to judge what is in Britain's national interest, and that is the judgement I made. I stand by it."
Sign of where things are going that in a shockingly competent move Labour's social media team are actually straight up promoting the fact that he had this falling out with Trump re the Iran war. The British right wing press and party establishments may have fucked up here methinks.
I remember once sitting with an insurance analyst who had to be pretty much physically restrained from violence when a senior regulator referred to the collapse of the San Andreas Fault as a "low probability event". It's a virtual certainty!
I wrote a sonnet about most of the people we had in mind.
here I was, a computer vision guy (more or less), listening to a talk by somebody who had spent an entire distinguished career on how to indirectly measure the coefficient of friction between a gripping effector and the object being gripped and was, you know, getting there.
It is really good and funny and has an interview with Sam Bankman-Fried which is for the ages
The movie I directed about how crypto is bad and dumb will be in select theaters April 17. Here’s a 😜
That looks like it was done by someone who knew how to tie a tie but not how to stop
There's never any good cause for undue alarm!
A country built on losers: I reviewed two books on sports betting and wrote about gambling, the vile vice that's eating the world, for @newrepublic.com
newrepublic.com/article/2073...
Yay!
Unthinkable, and yet somehow kind of thinkable.
OK so my suggestion is that instead of putting the oil price up, which everyone agrees is very alarming, you just make the barrels smaller but charge the same, and that won't cause nearly as much uproar. It's a clever little trick that I like to call "reduceflation"
I think he is saved by the same "compared to what?" factor which took Jeremy Corbyn surprisingly close To victory in 2017.
He even whined in his autobiography about having to pay tax on it!
Hullo secure Swiss email users. Google the name "Bradley Birkenfeld" in order to understand how much of a protection this is. Love, Swiss bank account holders
tbh, Baudrillard me hole, it's really clear how the USA got into this war of choice with Iran, trouble is that in order to discuss it you have to keep on saying "on this particular occasion without implying any wider or more fundamental conspiracy theory"
