You guys are so mega HFT pilled lol "the book is the only reality, the only truth that matters"
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It really doesn't matter though, we live in a post-fundamental world
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Replying to @theemilyaccount @jgreco
the book is always the only thing that matters, anyone who says otherwise is coping
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It's one of those things that is pretty name dependent imo, like you aren't seeing random smidcap materials companies just totally diverge from the underlying reality of the company
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I think there's an argument to be made that we're seeing what would have been considered 'insane' multiples become commonplace (and furthering my idea that they just don't matter) Whole market isn't particularly reflective of reality, smidcaps are just less shockingly divergent
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macrocephalopod Retweeted macrocephalopod
macrocephalopod added,
macrocephalopod @macrocephalopodReplying to @NewRiverInvestIt’s weird to think that there’s an optimum amount of inefficiency for valuations-based long/short traders. To little and there are no opportunities, but too much and prices just move around randomly with no guarantee they will ever get to fair value in a reasonable timeframe.1 reply 0 retweets 5 likes -
Replying to @macrocephalopod @Bonecondor and
The natural extension of this is that the future performance of equity long/short funds is (kind of) a test of whether your hypothesis is right.
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It'll be interesting to see what happens. L/S funds haven't had a stellar time lately have they?
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i’ve always thought an L/S fund was a dumb name. oh you mean the two things you can be? just call it a fund
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Replying to @macrocephalopod @theemilyaccount and
Remember that WSB guy who discovered that market makers were shorting some of the inventory they were long, as a crafty hedge? The shamelessness of the MaRkEt MaKeRs knows no bounds...
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