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31 Mar, 4 tweets, 2 min read
Intermittent follower farming (not sure what the endgame of this racket is...yet)

My finance ed threads and posts are all organized in "moments"

This is one of them:

⚡️ “Moontower's Market Meta Game Concepts”

twitter.com/i/events/13120…
Here's another of a bit denser material...

twitter.com/i/events/13120…
Here's stuff useful to anyone

twitter.com/i/events/13120…
And of course the Volatility Wiki which I rely on all of you for continued improvement

moontowermeta.com/introducing-th…

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More from @KrisAbdelmessih

Kris Profile picture
2 Apr
When I was a Susq I heard Jeff speak a few times. Always engaging.

They were savage in my days there but the doubling down on tech and brains thru the years probably makes Jeff the richest dude in the world you never heard of (unless you look at pol donations, then you know)
One of the talks was on the primacy of markets (Yass is an extreme libertarian, free-marketer, no fool should be allowed to keep their money type. Appealing views to many traders, esp when they are young)

This post was one of his market lessons.

moontowermeta.com/dinosaur-marke…
I remember when I was a 1st year mm on the Amex and I reported a giant trade that got crossed in AIG on the internal chat.

I got a dm.

"Pls call". It was from Jeff.

I was never so scared. Was I supposed to break that cross up?

Cont...
Read 9 tweets
Kris Profile picture
31 Mar
Random thoughts on hedging an options book.

Delta hedging is a trade-off between transaction costs (direct+slippage) and risk reduction.

When you compute realized volatility you choose a sampling period, say close-to-close.

You can think of your delta hedges as samples.
If you and I delta hedge at different prices we are sampling different volatilities. C-C vol might not even correlate with our samples.

So everyone's lived experience of their attempted "market neutral" is different based on how their sampled vol compared with the implied.
This is why delta hedging is bedeviling.

It is the link between the implied vols you trade at and the subsequent p/l you realize regardless of what some objective measure of realized spits out.
Read 11 tweets
Kris Profile picture
30 Mar
Fish breakfast
Multiple people have reached out for the link to the house...dm if you want. Treehouse, bocce, heated pool, sauna, vineyard, sleeps 5 families, 3 acres.

I agree strongly with all the reviews...pics don't capture the expanse and beauty of the property.

Zestimate feels low
1800/night but sleeps 20
Read 4 tweets
Kris Profile picture
29 Mar
Cousins get togethers always come with math puzzles to work on. The last 2 days we used questions from the 2nd Graders Berkeley Math Circle curriculum.

With the ages 4-11 we emphasize kids working independently on the problems at first...
The kids who get the answers first show their work to an adult separately and "present the solution" requiring them to explain themselves well. Once all the kids are done or give up, the "right" kids need to guide the others until they can explain it to an adult themselves.
The puzzles we did this am

1. You have 4 coins but one of them is fake and weighs more or less than the others. You have 2 weighings on a balance scale.

Find the fake.
Read 6 tweets
Kris Profile picture
29 Mar
Random story that came up today while hanging out with in-laws.

One of my HS summers I operated rides at Keansburg Amusement Park in NJ. There was a steel coaster with no loops called the Wildcat.

I used to ride it standing up, leaning forward Titanic style, no safety bar.
The other degens working there and I felt comfortable doing it bc we watched the mechanic grease the track every night by crouching his 300 lb body down on the rear bumper with one hand inches from track and the other hanging on.
Today, I get car sick, hate heights have been in 2 crazy car accidents in my life. One of them should have killed everyone in the car and the other had me see and touch a large portion of my shinbone.

I've had 4 concussions (family claims it was 5).

Today...
Read 6 tweets
Kris Profile picture
26 Mar
Anecdote...a friend of mine here in the states (but born in Egypt) went back to Egypt and started a trading shop. He is a good dude and really wanted to teach a group of Egyptians to trade. The "fatalism" work ethic eventually caused him to abandon ship after 2 years.
He described constant no-shows, excuses, and frankly people had a hard time connecting the dots to why making money was worthwhile. No sense of urgency.

Nick's use of "fatalism" captured the essence of what my friend reported to me.

I don't see this quality in Egyptians here
I'm not on top of Egyptian politics and I've only been there once. Arabic was my first language (though i lost it by the time I started school. Can understand household arabic and Spanglish it when I speak) and I was surrounded by Egyptians in Brooklyn and NJ growing up.
Read 11 tweets

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