How did so many quants in the late 80s and early 90s make money from putting on the same trade?
Exact words? Basic idea? Whatever tells the story best?
A story of expectations, margin calls, and timing
The brief infinite money glitch of the 1920s
A company whose shares are mispriced can convert that into something real, but it's challenging
You don't write spam with a quill
LLMs may dominate pageviews, but they're still working for humans
Companies don't keep the positive externalities they create, but they're getting better at it
Always look for selection effects
