Today, the dollar surged against equities: Difference between revisions
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''"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.'' | ''"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 [https://twitter.com/EricRWeinstein/status/961673214383464448 X] | '''- Eric Weinstein''' on [https://twitter.com/EricRWeinstein/status/961673214383464448 X] | ||
Latest revision as of 15:45, 5 August 2024
"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
On X[edit]