One lesson of proper risk management is that when something with a meaningful short term downside and a non zero probability of happening is dismissed out of hand, we should be wary. Such is the case right now with risk and uncertainty over the outcome of the US Election.

Since the Global Financial Crisis, the West Has Slowly Woken Up to the Fact That China Does Not Intend to Play Entirely by Their Rules.

Nate Silver, the political pundit wrote a bestselling book in the wake of the 2008 Global Financial Crisis called the Signal and the Noise, with the subtitle ‘Why so many predictions fail, and some don’t”.

While everything that is not Covid or Trump (or both) is getting pushed to the side at the moment, there are actually some really interesting things going on elsewhere that deserve our attention.

The options expiry on Friday was closely watched thanks to the fun and games in the Gamma markets initiated by Softbank in July and August but was fortunately not too disruptive.