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#8
Nov 6, 2026
Another crypto carry trade
Perps charge a persistent premium for leverage, and the basis trade harvests it. 2factor's Jr is cheaper leverage, which opens a second way to coll...
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#7
Oct 19, 2026
The Way of the Index
Two couplets on why owning the whole market works.
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#6
Aug 13, 2026
What's the Sitch?
Try not to borrow short to bet long
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#5
Jul 23, 2026
Source your own order flow
An AMM can hold the best price and still never trade without order flow.
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#4
Apr 20, 2026
Programs run on physical machines
Code doesn't age. Computers do — and entropy eventually sends an invoice.
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#3
Apr 9, 2026
Demand deposits are mispriced options
Depositors get a subsidized lunch, and nobody sees the itemized bill.
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#2
Mar 15, 2026
Hidden cost of leverage in LETFs
A small annual drag, reinvested for over a decade, eats half the total return.
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#1
Nov 29, 2017
Who Meets Whom
Location data alone can reconstruct who you know, where you go, and when you meet.