macrocephalopod on Twitter: "The world is just a collection of intentions to buy or sell certain quantities at certain levels, asking where the "true price" is is like asking which atoms in a block of ice have a temperature of zero celsius.… https://t.co/vEV5R5FHGe"

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SqueezeMetrics‏ @SqueezeMetrics 27 Feb 2021

Replying to @saah1lk @breakingthemark

/start debate_nobody_wanted_to_have Just as many buyers as sellers. Buyers just wanted it more.

2 replies 0 retweets 15 likes

mpp75214‏ @mpp75214 27 Feb 2021

Replying to @SqueezeMetrics @saah1lk @breakingthemark

haha. prices can go up or down even if no trades happen!

2 replies 0 retweets 2 likes

SqueezeMetrics‏ @SqueezeMetrics 27 Feb 2021

Replying to @mpp75214 @saah1lk @breakingthemark

There we go. Now we're truly scraping the bottom of the barrel. PRICE CAN LOGICALLY NEITHER BE THE MIDPOINT NOR THE LAST TRADE, SO WHAT IS IT?!?

3 replies 0 retweets 10 likes

mpp75214‏ @mpp75214 27 Feb 2021

Replying to @SqueezeMetrics @saah1lk @breakingthemark

haha. why not mid? or if not mid just look at bid and offer. lots of options rarely trade, but the bids/offer still change.

1 reply 0 retweets 2 likes

SqueezeMetrics‏ @SqueezeMetrics 27 Feb 2021

Replying to @mpp75214 @saah1lk @breakingthemark

WHAT IF THE MIDPOINT IS 0.10% AWAY FROM THE CENTER OF THE ARBITRAGE-FREE VOLATILITY SURFACE? HAHA, WHAT NOW?

1 reply 0 retweets 6 likes

mpp75214‏ @mpp75214 27 Feb 2021

Replying to @SqueezeMetrics @saah1lk @breakingthemark

well price of ordinary things is the price where you can buy, so just consider offer. If I wake up early tomorrow and milk at grocery is 10c higher then price has changed even though no one has bought it yet

1 reply 0 retweets 4 likes

SqueezeMetrics‏ @SqueezeMetrics 27 Feb 2021

Replying to @mpp75214 @saah1lk @breakingthemark

What if I've got a coupon, what now, huh? And now what if the coupon expired, but I'm going to try using it anyway? Do we need a Bayesian framework to assess the likelihood of the coupon being accepted? Can I partly control my outcome by picking the nice old lady cashier?

2 replies 0 retweets 11 likes

Matt Hollerbach‏ @breakingthemark 27 Feb 2021

Replying to @SqueezeMetrics @mpp75214 @saah1lk

My credit card gives me cash back on groceries, does that count?

1 reply 0 retweets 1 like

SqueezeMetrics‏ @SqueezeMetrics 27 Feb 2021

Replying to @breakingthemark @mpp75214 @saah1lk

But is the cash-back in exchange for selling your information? In which case, the grocery store paying 3% CC fees, but passing on part to you through the agency of your CC company's cash-back program, is actually giving you a 1% discount on milk in exchange for your information?

2 replies 0 retweets 9 likes

macrocephalopod‏ @macrocephalopod 27 Feb 2021

Replying to @SqueezeMetrics @breakingthemark and

Spending any time working as a market maker ruins your brain because you realize that simple concepts like "price" don't have any meaning at the level you care about.

2 replies 0 retweets 17 likes

macrocephalopod‏ @macrocephalopod 27 Feb 2021

Replying to @macrocephalopod @SqueezeMetrics and

The world is just a collection of intentions to buy or sell certain quantities at certain levels, asking where the "true price" is is like asking which atoms in a block of ice have a temperature of zero celsius.

11:58 AM - 27 Feb 2021

2 Retweets
26 Likes

3 replies 2 retweets 26 likes

1. Show replies
1. Matt Hollerbach‏ @breakingthemark 27 Feb 2021
  Replying to @macrocephalopod @SqueezeMetrics and
  
  Where have I heard that analogy before?https://breakingthemarket.com/trend-following-is-hot-air/ …
  
  5 likes
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1. Chris Georgiadis‏ @ChrisGeorgiadi2 27 Feb 2021
  Replying to @macrocephalopod @JasonMutiny and
  
  Certain quantities at certain levels implies premeditated valuation modeling. A significant part of this equation, an increasing, is becoming less about the valuations and more about being allocated vs. not being allocated.
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