In last month’s Update, we pondered the question “what about the 40?”. This has long been a topic of our own discussions and clearly an issue that rose to the front of many people’s minds in the mo…| Convex Strategies
Like many, our attention this month was drawn towards a non-market related set of events. The US 20-year war in Afghanistan finally came to an end. What really got our attention can be visualized b…| Convex Strategies
To the best of its knowledge and belief, Convex Strategies considers the information contained in this website as accurate only as at the date of publication. All information and opinions on this w…| Convex Strategies
Nassim Taleb introduced the concept of Wittgenstein’s ruler in the first book of his Incerto series, “Fooled by Randomness: The Hidden Role of Chance in Life and in Markets”. He elaborated on the c…| Convex Strategies
“I have been working in or around central banks for over fifty years. To my regret, as I look back on my career, I can now see that I was often guided by an evolving set of false beliefs about how …| Convex Strategies
“To ensure that a central bank does not prioritise the solvency of the sovereign over its primary mandate of price stability, the European treaties prohibit monetary state financing. In its public …| Convex Strategies
“Those whose job it is to manage risk today tend to focus on the things to which probabilities can be attached and shrug their shoulders about everything else.” Niall Feguson, Oct. 2023. Decent not…| Convex Strategies
“Do you know the secret of life? One thing. Just one thing.” Curly Washburn. City Slickers, 1991. We find this a very useful, and accepted, philosophy when it comes to risk management of any activi…| Convex Strategies
Last month, in our February 2023 Update, “Sharpe World is Nefarious”, we posed this question: “If a bank loses money in accrual books and can continue to fund the losses with government guaranteed …| Convex Strategies
