Articles

More on Options: Managing Risk

March 20, 2025 | Risk

Options market makers don’t even really hedge deltas anymore on individual trades—it all goes into one big mathematical soup. It’s very hard to compete.

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Learn About Options the Easy Way

March 13, 2025 | Risk

Lucky for me, I started my career on an options trading floor out in San Francisco.

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The Puzzle of the Stock Market

March 6, 2025 | Risk

Stocks had a bad week last week.

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Karma Has Everyone’s Address

February 27, 2025 | Risk

For many years, I didn’t believe in karma.

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Evil Genius Companies

February 13, 2025 | Risk

I want to devote today’s letter to Spotify. You know, the music streaming service.

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Conviction

January 9, 2025 | Risk

Nobody falls ass-backward into money in the markets.

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