Someone smarter than me (I can’t remember who it was) made the distinction that we can distinguish games of pure luck and those that require some skill by whether or not you can lose on purpose. For instance, if you were betting on the flip of a coin, you can’t lose on purpose. Poker, on… Continue reading The Markets reward poor process
Much of the problem in the US right now does come down to a failure of education. And we can see that in the markets as much as anywhere. Options volume has exploded, much presumably due to the sports-bettors turned option gurus that have flocked to Robinhood. They are clearly not the only culprits, but… Continue reading What is needed in the markets right now?