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Reginald & No-Name 🐢

@Chris_arnade

29 Sep

My first substack post. It is free!

Walking America, part 1: Springfield, Chicopee, and Holyoke Massachusetts
intellectualinting.substack.com/p/walking-amer…

Hope to keep this series up. Long walks through parts of America people don't usually do long walks through.

So no nature trails. Sorry. Nature trails are not my thing,

Holyoke trivia i was unable to work into the piece

Read 4 tweets

Reginald & No-Name 🐢

@Chris_arnade

11 Jul

Finishing WW1 readings & hard to believe the period wouldn’t have ended in a massive violent war

I guess I subscribe to idea if you ran history forward from any one point many time with slight differences (kill baby Hitler, etc), it would follow pretty much same general path

I don’t know the name of that theory (history isn’t determined by one person, or one event), but I subscribe to it & I will die on that hill.

https://twitter.com/chris_arnade/status/1397500683256016896

For those who asked, the books i read are in this very long thread (mixed in with Roman history…)

https://twitter.com/chris_arnade/status/1397500683256016896

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Reginald & No-Name 🐢

@Chris_arnade

7 Jul

No-name gets a little, uh, over enthusiastic

Need the Benny hill music playing

Reginald does normal

Read 5 tweets

Reginald & No-Name 🐢

@Chris_arnade

2 Jul

https://twitter.com/chris_arnade/status/1409117397777268738

To add to this. Most view Art markets as an anomaly, & other markets (bonds, stocks, commodities) as “real”.

Yet it is the opposite— Art markets are the purest, the rest limited version, & what they show is valuation is at its core about the symbolic (or faith)

https://twitter.com/chris_arnade/status/1409117397777268738

This doesn’t mean purely symbolic value is a sham. The opposite. It is the core of how we assign value

Think about a baseball “documented to be hit by hank Aaron” as his 714th home run. It is indistinguishable from any other baseball used that year, yet far more valuable

That is why when experts say “something is overvalued based on fundamentals” you gotta laugh. They missing the point. There fundamentals is their myth they trying to get established

something can maintain value for a loooooooong time that is purely symbolic.

Read 6 tweets

Reginald & No-Name 🐢

@Chris_arnade

29 Jun

A No-name night

Pretender No-name? Starting to think there are two smaller turtles and this is the no-name pretender

Middle photo is pretender? Is that scar on top of head? Or muck. Different colorization as well

Read 6 tweets

Reginald & No-Name 🐢

@Chris_arnade

27 Jun

To geek out on one of my fav niche subjects: markets & prices!

I am valuation relativist, IMO Markets are about myth making & prices the reflection of the current dominant myth

Or, value of X is because more people believe whatever story has gotten X to the price it is at 1/

For Wall Street, that could be a mathematical model (hip in 90s), momentum model, cash flow model, flow model, or whatever framework currently is in vogue

That doesn’t mean value is entirely a Wild West. There are objective things you can say about different assets value 2/

Different assets have different boundary conditions that constraint prices in space & time.

Bonds eventually mature to 1 or 0, stocks are legal claim on % company, etc

At an extreme end is art, which is completely unbounded & in that sense the most pure market. 3/

Read 10 tweets

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