Friends, I’ve been saving this one for the start of the school year. For those who start after Labor Day like it should be (my kids have been in school for nearly a month already). I took my boys to Alpha School in Austin during Spring Break this year. School during Spring Break, dad?! Yea, … Continue reading you need motivation to learn the value of pain →| Party at the Moontower
I got long IBIT (BTC etf) when my April calls expired ITM. IBIT continued rallying, I was happy to stay long. However, the vol screened cheap. I decided to “replace” — I sold my long shares and bought calls. Deciding which calls to buy was tricky. So tricky it inspired this post. The heart of … Continue reading calendar spreads through the eyes of a vol trader→ The post calendar spreads through the eyes of a vol trader appeared first on Party at the Moontower.| Party at the Moontower
Last week in Adam Smith’s Backdoor, I wrote: The promise of capitalism is its swarm intelligence that maximizes benefit under the curve for the plurality of its members, as opposed to the narrow interests of a corruptible centralized authority. If the “plurality of its members” see the gains as gilded with appeals to capitalism feeling like they are in service … Continue reading capitalism is a temporary condition →| Party at the Moontower
Appreciation thread I wrote late Thursday nite when I noticed sub count crossed 20k: You people are sick. And I appreciate you for it. Some history on this letter and joining Twitter… I started lurking on Twitter in mid 2010s bc I was trying to learn about investing. Despite being a trader investing was foreign to … Continue reading how the moontower letter started→ The post how the moontower letter started appeared first on Party at the Moontower.| Party at the Moontower
Notable short seller Andrew Left’s firm Citron Research gave his “all roads lead to $40” pronouncement on X this week regarding PLTR 2.90%↑ : Created with TradingView Give Palantir the same $100 billion valuation that Databricks just earned. Where does that put the stock? $40. The exact same math we saw when comparing Palantir to OpenAI. Tyler pinged me before the stock dove … Continue reading Betting on PLTR to $40 →| Party at the Moontower
This summer we started a family tradition — Friday night pizza and movies. Each week we rotate who picks the movie and the pizza place. A few weeks ago, we did a Matthew Broderick double feature. We started with Ferris Bueller’s Day Off. Turns out I don’t remember seeing this movie before. I just thought I … Continue reading Adam Smith’s Backdoor →| Party at the Moontower
In the discord, I was asked a good question that’s lingered for me. I’ll share the fuller response here but first the question: When you are talking about the ‘mantra’ to reset discipline – “I am buying/selling A for $X because B is $Y bid/offered” – are you thinking in terms of actually putting on … Continue reading timing the market→ The post timing the market appeared first on Party at the Moontower.| Party at the Moontower
We had company over a few days ago. How’s that for a throwback term to when your cable remote had a wire — “company” as a term for guests. So we’ve got some friends and family hanging out and the topic of jealousy comes up. Not in the adulterous context so much as the general … Continue reading hey jealousy→ The post hey jealousy appeared first on Party at the Moontower.| Party at the Moontower
Friends, A grab bag of practical finance nerd stuff today. Behind the paywall, subs get an exclusive complimentary pass to the 3-hour commodity trading seminar I did for QuantInsider. It’s especially useful for equity folks looking over the fence (especially relevant these days with oil in the news.) 🧵A thread on COIN vol since the … Continue reading Netting risk, “The Hopeless”, John Arnold and more →| Party at the Moontower
This is an old post by Visakan (one of the best follows on the internet imho) that I come back to when I need a spine alignment. In my view it’s about risk, reward, and staying intact. it’s just math (7 min read) In my version of reading it to you, I will emphasize what lands for me: … Continue reading the “math” of success →| Party at the Moontower