Today, the dollar surged against equities

"Today, the dollar surged against equities" said no financial reporter ever in describing a market sell-off. Beware of cheer-leading journalism. No "long only" portfolio is ever diversified. Long-only means being short a single security that you're encouraged not to think about.

Every "Diversified Long-Only Stock Portfolio", is not truly diversified. It merely hides its concentration in a single undiversified short, which is never discussed by financial journalists in the same terms they discuss other securities.

- Eric Weinstein on X