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Rates & Stocks Under Fast Takeoff
Rates and stocks rising together is potentially consistent with AGI
Jun 9
•
Lihong
Introducing Professional Punters
A Podcast about Traders, Investors, Founders, and Risk-takers
Jun 7
•
Lihong
3
The Unreasonable Effectiveness of Order Books
Ten Case Studies of Markets Aggregating Information
Jun 5
•
Lihong
2
Decomposing Volatility Skew
A Linear Factor Extension of Local Volatility
May 30
•
Lihong
11
1
AI-Driven Investing
Brief Thoughts on The Convergence Problem
May 28
•
Lihong
3
Most Popular
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The Effects of Spot-Vol Correlation
Dec 21, 2024
•
Lihong
7
4
1
Market Probabilities are NOT Real Probabilities
Feb 9, 2025
•
Lihong
11
1
Options Implied Distributions are NOT Real-World Distributions
Mar 2, 2025
•
Lihong
10
In Defense of Leveraged ETFs
Jun 14, 2024
•
Lihong
7
2
1
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Volatility Term Structure
Intuition for Heston Stochastic Volatility
May 19
•
Lihong
5
1
Post-Earnings-Announcement Drift
Review of PEAD and the Broader Logic of Trading Headlines
May 6
•
Lihong
1
How to Extract Max Value from Your Edge?
The KL divergence as the maximum compound growth rate, with applications
Apr 30
•
Lihong
6
Trading Weekend Perp Markets
Trading Headline Betas in Liquidity-Based Lead-Lag Factor Models
Apr 27
•
Lihong
2
1
Trading Pre-IPO Stocks
7 Trades on Pre-IPO Stocks From a Freeport User
Apr 22
•
Lihong
4
Do Freeport Users Make Money?
Explaining How Freeport Users Made 11.7% on $27M in the Last 45 Days
Apr 18
•
Lihong
2
Stock vs Options PFOF
How Stock and Options Market Structure Differ
Apr 16
•
Lihong
3
Negative Interest Rates
Mechanics, Constraints, and Consequences
Apr 9
•
Lihong
1
The Equity Risk Premium Puzzle
It is Unclear Why Stocks Beat Bonds by So Much
Apr 4
•
Lihong
6
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