Yet another Ponzi, this time with silver trading.
Gaylen Rust from the Rust Rare Coin company, may spend the next 19 year in prison for a $200m Ponzi fraud spanning two decades.
"Trading Strategy" Posts
Market up, vol up
We are currently in the unusual market situation called “market up, vol up”, where volatilities go up while the market rallies. It is driven by retail purchases into the tiny calls, notably for the small caps and the meme stocks.
Rates rise, curves flatten, hedge funds lose
There have been some sudden movements in the global rates recently – rate rises, curves flattening, inflation threats.
The big and famous in the hedge fund world are raking significant losses.
How about using options for your next insider trades?
Somebody gave you an insider tip and you want to use options? Think again.
The SEC sees you coming. Good luck justifying yourself to a jury. The stick will hurt.
Cryptocrook: 7½ years of jail. More like him to come.
You remember our cryptocrook? Quant WizKid, market-neutral hedge fund, Cryptocurrency arbitrage great returns, $90m AUM… Except that it was a Ponzi.
His sentence just came out: 7½ years of jail. Here are the explanation & the context.
Infinity Q is a warning to investors
Investors are not happy with Infinity-Q, the derivatives hedge fund that had a slight ‘mismarking’ and is now in a wind-down. We’ve learnt a few more things since the announcement.
The state of crypto hedge funds
PwC released its annual Crypto Hedge Fund report; it contains many interesting statistics – fees, size, investor source, strategies, liquidity, performance…
T+1 ?
Should US stocks settle T+1? The current T+2 settlement date is considered antiquated, and the Robinhood affair (gee, them again???) has relaunched the debate. Here is a review of the DTCC’s proposal, as well as an idea for derivatives traders.
Geode hedge fund, loses big on volatility bets during COVID
Geode handles $700 bn of Fidelity’s index tracking assets. Geode Diversified, the much smaller hedge fund business, took a 36% loss on COVID’s volatility rally. It is now getting the axe.
Are the Robinhood traders going after the VIX?
‘When you combine ignorance and leverage, you get some pretty interesting results.” Warren Buffett
Three good notes from the derivatives research teams of Morgan Stanley, Société Générale, and Nomura point to a potential squeeze in the VIX, as a result of the increasing retail activism. This technical post explains the contents of the research papers. Spoiler alert, yes, the VIX is prone to a squeeze.
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