The greatest risk in life is taking no risk
Austin, TX
Joined August 2024
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An important reminder from the fall of LTCM: being fundamentally right isn't sufficient if leverage, liquidity, or financing constraints prevent you from surviving until you're proven right.
Most investors don't understand that markets are influenced by both fundamental expectations and expectations about other investors' behavior.
There's so much selling in the stock market unrelated to fundamentals right now (e.g., hedge funds offloading), creating a big opportunity to buy quality companies
Mission liquidate @leopoldasch: Episode Two
Elon selling compute for spot prices is all we need to know…Coreweave is a 5x if they can get off some of their long term contracts and covert to spot
It is insanity that the system is still going. 100 better ways to do it
Texas Hedge retweeted
Behold, the EA infinite money glitch…
We’re committing a portion of Anthropic’s shares to the Anthropic Public Benefit Fund, a new wholly owned entity dedicated entirely to the public benefit.
It will start off with 5% of our shares. For every 50% increase in the company’s value over a set baseline, we can contribute up to an extra 2%, subject to our board’s discretion.
In total, this means that roughly 20% of Anthropic’s shares are committed to the public good. Our co-founders have already pledged to donate 80% of their equity, and around half our employees are donating a portion of their equity as part of a donation matching program we’ve run since our founding.
In the post below, we share more details about our new fund.
anthropic.com/news/public-be…
Why are weekends a thing? Every day is just a day. Every hour is just an hour.
Why separate them? Seems suboptimal.
"Impossible is just a big word thrown around by small men who find it easier to live in the world they've been given than to explore the power they have to change it. Impossible is not a fact. It's an opinion. Impossible is not a declaration. It's a dare. Impossible is potential. Impossible is temporary. Impossible is nothing."
Texas Hedge retweeted
Investing is beautiful. The art of identifying something that will be more valuable tomorrow than it is today applies to everything in life. Ultimately, any opportunity exists because something is undervalued by others.
The increased amount of capital flowing to pods and short term strategies creates an interesting revival opportunity for long term, long only strategies.
With how short term the world has become, maybe the greatest arb opportunity is time.
Prestige is like a stock. Some great and soon-to-be prestigious opportunities are sitting in plain sight if you have differentiated analysis or an information edge. Then, when people find out, the "stock" may get overextended. It seems that the most successful people in these roles got in before, for reasons different than the prestige-chasers