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>if you know more than the market, take negative delta exposure to bitcoin and profit handsomely. "The market can remain irrational longer than you can remain
by omegaworks 8y ago
>if you know more than the market, take negative delta exposure to bitcoin and profit handsomely.
"The market can remain irrational longer than you can remain solvent."
- DINKDINK 8y agoThat aphorism is used by naive people who 1.) want to capture the upside of if they're right but suffer no penalty if they're wrong. 2.) Don't understand how to take low probability, high payout exposure: Buy a deep, out-of-money put you'll profit handsomely if right.