Broken Markets
Thoughts on passive, turnover, options complex and the FOMO
Broken Markets
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Einhorn was right, markets are broken.
This is the voice note I sent to a friend on Tuesday July 16th, exactly after market close. It seems the Airpods sounds crappy, don’t they? Damn you Tim Apple!
These are my un-edited, un-curated thoughts about the market setup and how things could turn on a dime. Value-indiscriminate passive flows, especially layered on top of far-from-equilibrium market situations turns this into a bonfire.
I’ve been preparing readers on this setup for some time now. Be sure to check out my other pieces.
Sincerely,
Philo 🦉
