Author Archives: josh

Pounded By The Pound: Sports Direct’s Hedges and the Cable Flash Crash

Introduction Just after midnight London time on October 7th, 2016, GBPUSD (henceforth “cable”, henceforth “betty”1) abruptly plunged from 1.2620 to 1.1841 1.1938 1.1378 1.1500 1.14912 in the space of about three minutes, then just as quickly bounced back to the … Continue reading

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Notes on “The Party Decides”

“The Party Decides: Presidential Nominations Before and After Reform” got quite a run during the 2016 US presidential primary season – mostly being trotted out to justify why the Republican Party would exert its dominance over the primary process and … Continue reading

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40-Times-Leveraged Short Volatility Trade Goes Horrifically Wrong For Everyone Involved

…or, Managing and Mitigating the 2014 CNH FX TARF blowup (Author’s note: I wrote this a year or so back for a few friends on Finance Twitter who wanted to know what FX TARFs were and what effect the huge vol overhang from … Continue reading

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What’s mine is yours; what’s yours is mined

(I was going to turn this into a tweetstorm, but it’s a bit over the line for what would be a reasonable-length tweetstorm and also I am an old fart who thinks tweetstorming is unwieldy. Am I the only one … Continue reading

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A staggering failure of Economics 101

It’s not often that you find out about developments in the Aussie housing market from Canadian ex-finance-ministers, but Garth Turner ran an interesting piece yesterday about Senator Nick Xenophon’s proposals to make housing “more affordable”. In short, he says “we … Continue reading

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Blast you Chris Hayes why must you be so reasonable

When I found out Chris Hayes was interviewing Michael Lewis on his show tonight, and they were going to talk about Lewis’s controversial new book Flash Boys, I was jazzed – I was ready to unleash hell on them for peddling … Continue reading

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Trading while insolvent is apparently fine if you’re a bitcoin exchange

Amid the fiasco of MtGox’s apparent collapse last night (acquisition? rebranding? god knows), some kind person leaked MtGox’s “Crisis Strategy Draft”. It’s an internal Powerpoint that appears to describe a plan for shutting down MtGox and relaunching it as “Gox” … Continue reading

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Bad Ideas: “Be A Stockbroker!”, Sez SGX

The SGX wants Singaporeans to quit their jobs and become stockbrokers.  Singapore Exchange (SGX) is partnering NTUC’s e2i (Employment and Employability Institute) to draw more Singaporeans to the stockbroking profession and equip new joiners with the necessary skills. “A career … Continue reading

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JRE Sells Out: Snugg iPad Mini Retina Case

So the fine folks at emailed me and asked me if I’d like to review one of their iPad Mini cases. I said yes; they sent me a fetching one of these – the iPad mini Retina Leather Case … Continue reading

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Tiny Robot is Disappointed by Wall Street

Tiny Robot is Disappointed by Wall Street, a photo by Shiny Things on Flickr. Jeez, it’s been quiet around here lately, hasn’t it? Here’s some Tiny Robot for you, to break the monotony. Tiny Robot heard about a place called … Continue reading

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