Rare 4-year Oak Cask Edition
I decided to collect some of the most popular, useful, and entertaining posts from the past couple years for easy reference and discovery. Enjoy!
Critique of Pure Liquidity: The motivations and definitions of general liquidity theory
The Ven Commandments: An homage to Christopher Hitchens and Martin Amis in the form of self-help
My Father, an Epitaph: On a late, great man
The Norton Juster Experience: On the influence Norton Juster had on my thinking
Malt Liquidity 10: A short explainer on high frequency trading, market makers, and the roles they play
Malt Liquidity 22: On pegged currencies and stablecoins
Malt Liquidity 28: Robinhood shenanigans from a simpler, gamier time
Trading Day 3: Finance satire, heavy on the trading
Malt Liquidity 36: On how we think about valuation in a low-to-zero interest rate regime
Malt Liquidity 38: Liquidity 101 — an explainer on how to think about microstructure
Malt Liquidity 43: On rethinking the college loan system
Malt Liquidity 50: On position sizing and how to think about retail flow
Malt Liquidity 60: The FTX Theory, Pt. 1 — mark to market shenanigans
Malt Liquidity 63: The FTX Theory, Pt. 2 — evidence of blatant fraud
Malt Liquidity 69: On the underpinnings of the financial system
Malt Liquidity 70: On option market participants and the rise of zero-days
Malt Liquidity 71: On high level methodology to generate trading ideas
Malt Liquidity 74: On proposed SEC rules regarding PFOF
Malt Liquidity 75: On the Fed, its policy goals and methods, and how to handle rates
Malt Liquidity 77: 2022 Year in Review — an epitaph for ZIRP
Malt Liquidity 80: On why betting on stocks going to zero isn’t so straightforward
Malt Liquidity 83: On understanding the differences of the investor class
Malt Liquidity 90: On how to utilize insider trading detection and prosecution
Malt Liquidity 95: On retail banking and regulatory overreach/failure
Malt Liquidity 96: On the future of crypto as the SEC wills it
Malt Liquidity 97: On the bygone era of Playboy and what it meant
Malt Liquidity 99: On the biggest bank drama since 2008
Malt Liquidity 102: On what, exactly, a security is
Malt Liquidity 103: On the tenuous value of “ESG”
Malt Liquidity 105: On sell side research and macro tourism
Malt Liquidity 106: On what exactly Ripple did to the definition of a security
Malt Liquidity 107: On how I think about and go about investing
Malt Liquidity 111: On why Taylor Swift is the ultimate finance chick
Malt Liquidity 112: On how to relax and win
Malt Liquidity 118: On the options principles behind 4th down calls
Malt Liquidity 123: On Howey and the gradual sunset of the “security” concept
Malt Liquidity 124: 2023 Year in Review and Postmodern Markets
Malt Liquidity 125: On Bitcoin ETFs and the trading mechanic shift this implies
Malt Liquidity 126: On Intuition, “AI”, and how to think about thinking
Malt Liquidity 129: On quasi-legal systems as seen in golf
Malt Liquidity 130: On modifying one’s behavior with the AI