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I Disbelieve…a Quick Update on PHUNW
Originally published January 17, 2019 Did you ever play Dungeons & Dragons? Raise your hands geeks. I admit I played quite a bit in college. I spent one long 3 day weekend playing almost non-stop. Not a proud moment. If you have played the game you’ll remember there was a “disbelieve” option whenever a character […]
Continue readingWhat if the Market’s Completely Wrong
“Are you SURE the exercise price is $3.00?” I asked. Reply: “Yes” “Are you SURE they are exercisable?” I asked. Reply: “Yes” “Do you understand that I’m buying the warrant for $4.00 and selling the common for $7.50, meaning I’m making $.50 on every share? Any idea why I can do that?” I asked. Reply: […]
Continue readingHow to Find an Edge in Beaten Down Markets
When I worked as a market maker on Wall Street we were always seeking an edge. As a market maker you have a built in edge, you see customer orders before anyone else. But for the ambitious on the trading desk, that one edge alone wasn’t enough. You can have more than one edge… To […]
Continue readingDon’t Tell Anyone, But “Call of Duty 4 Blackout mode is Awesome” = Money
This post has nothing to do with warrants or arbitrage, my usual genre. It’s a trade idea stolen straight from my 17 year old. But first, entertaining backstory. A few weeks ago my wife’s cousin and his family were visiting from Wyoming. I brought up the world of business, as I’m inclined to do, in […]
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