#36: Peter Atwater On The Coming Age Of ’Screwtiny’
Superinvestors and the Art of Worldly Wisdom
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The Rise of Speculation in the Markets
Call options are an indication of speculative fever, where I am buying because I am so certain places going to go up that I'm now looking to do that with as much leverage as I possibly can. The challenge with it is once price terms, the evisceration is extraordinary and that that asymmetry of risk becomes devastating to those that are getting it at this point. It's just a question of when does it exhaust, but I really see that today with all of this call option buying.
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