there are good epistemic reasons to cut rates in increments (viz., reaction of market/economy tells you how fast/far to go) but are there good economic reasons? if you knew pre hoc that the terminal rate would be say 3% why not just do it all at once?

dollar yen day low of 141.76

lowkey the global financial markets are a bit of an enigma

guy who's never chatted w christine lagarde on IB

dudes be like "i know a place" & take you to the cash market where the old traders trade the yen

people keep saying "this is my quant" as a joke, but it's never funny to me

Daniel Tenreiro

guy having lunch at fanelli cafe just explained to the waitress that a buildup of long-vol exposure has left dealers with cuspy gamma profiles, driving outsize gamma hedging flows

new york is the perfect city for people who love making dinner reservations

New drip

Daniel Tenreiro my no one ever got fired for hiring daniel tenreiro shirt is raising a lot of questions that can already be answered by the shirt

Got dinner with based16z & limited jest & came up with 5-7 world-changing ideas

Reading books/accounts from the 1920s and thereabouts, otherwise high-functioning people regularly seem to have had nervous breakdowns that necessitated months of recuperation in a restful sanatorium. What happened to that? Better treatment? Less stress?

What is the point of Apple TV?