Thanks. It has been quite volatile lets see if I have the last laugh or I get hit in a rebound. I originally wanted to buy puts but when it started deteriorating i nixed the plan as IV was already high so now i have open ended risk since I am short
SZ,
There is a currently a physical shortage of silver in China for industrial usage and central banks are increasing the purchase of gold. Therefore, I am not sure if this drop today is a technical retracement or a major turn around for silver and gold price.
Regards
James
2 Likes
Time will tell. Seems quite large to be temporary, but you never know. Markets have been quite fast paced last few years. ETFs are affecting commodity markets a lot too. Many talented traders were burned trying to short this run
1 Like
test_user,
I try your trick with archive.is (as you mentioned in market chatter) and it doesnt seem to work for my browser.
Does it work for you on the other news outlets too? (New York Times, Wall Street Journal?)
Thanks for letting me know
Regards
James
It usually works on major news sites, at least until recently, I haven’t used it so much lately. Sometimes the links have to be shortened a bit, and sometimes they don’t work. Can you show me an article that doesn’t work, I can see if I find a solution.
1 Like
test_user, Even the link for the Financial Times article doesn’t work on my browser, I tried both firefox and chrome.
Here is the result,
I’m guessing the site is blocked somehow, have you tried your phone? The site is quite popular among nerds, and as you might guess not all content makers are happy about it.
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test_user,
Thanks for checking it out.
Personally, I find it difficult to read the articles on the phone.
It doesn’t seem like the archive.is site is an alternative for me. (I’ll keep the subscriptions)
Regards
James
1 Like
I hope you keep the subscriptions! I can read anything from the FT through archive.is, but I still subscribe. We need journalism more than ever.
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SZ,
Ethereum is just touching YTD low.
As mentioned to you earlier, this is an interesting crypto hedge fund if you think crypto is going to crash. It has high return/high sharpe ratio.
Regards
James
This one go both long and short with a longer history
1 Like
Well a lot of small coins always go to zero so I bet they do well. Interesting idea for a fund. Seems like they are doing quite well so far. Do they use leverage? That would be one of my questions given the sheer returns.
1 Like
SZ,
They probably use leverage similar to the traditional hedge funds. You can send them an email and find out (just google their address and email).
I have done some checking and they are regulated by CFTC. Here is some info that I digged up on the founder while discussing with Korr before.
Kennedy Mitchell
From Wikitia
Jump to navigation Jump to search
| Kennedy Mitchell |
|---|
| undefined |
| Born | October 25, 1971
| New Haven, Connecticut |
|----|----|----|
| Nationality | American |
undefined|----|----|
| Citizenship | United States of America |
undefined|----|----|
| Alma mater | Cheshire Academy |
undefined|----|----|
| Occupation | |
undefined|----|----|
-
Author
-
Currency trader
-
Businessman
-
Entrepreneur
Kennedy Mitchell (born October 25, 1971) is a published author, currency trader, American businessman, and entrepreneur.
In 2002, he authored Single Stock Futures: An Investor's Guide.[1] ISBN 978-0471267621, and 0471267627.
His work introduced new trading strategies utilizing single stock futures. He is also known for introducing new VIX Volatility Index trading strategies featured in several Barron’s Magazine articles.
Contents
Life and career
Mitchell was born in New Haven, Connecticut and was educated at the Cheshire Academy in Cheshire, Connecticut,[2] following which he attended the American College of Switzerland, and Marymount College in Palos Verdes California.
His first job in finance was at Gruntal & Co.|Gruntal in Boston Massachusetts, from there he moved to Prudential Securities, shortly thereafter being recruited by Coast Capital Management, a hedge fund in Boston as a junior portfolio manager, working primarily with currencies. His next position was at Meridian Asset Management in San Francisco from 1998 to 2004, where he again traded currencies as a portfolio manager. He next worked as a portfolio manager at Graham Capital Graham Capital Management in Rowayton, Connecticut. He subsequently went on to operate two of his own investment strategies, Bedford Investment Group LLC, which later was renamed Edgehill Investment Group LLC. He currently serves as the founder and chief investment officer of Edgehill Investment Group LLC. Over the past several years, Kennedy Mitchell has managed capital for Graham Capital Management, ISAM, Balyasnay Capital, Brevan Howard, and other "blue chip" asset managers.
Mitchell is also known for a major incident in New Haven, Connecticut, which occurred in late 2019. Following a lecture to a small group of graduate students at Yale University on cryptocurrency trading, he attended a dinner afterwards. Upon departing the venue, he was forced by three assailants into the back of a vehicle and tortured for approximately six hours, who were later discovered to be seeking money and assets from Mitchell. He then devised an escape place, and upon leaping from the vehicles rear window, he sustained nine gunshot wounds that nearly claimed his life.[3][4][5][6][7] While being treated at Yale New Haven Hospital, in New Haven, Connecticut, it was stated that he requested additional meal tables be placed by his bedside in the intensive care unit (ICU) with several laptops so that he could continue trading and operating in a professional capacity.
In June 2021, Mitchell launched the Prometheus Fund, with $250 Million USD in commitments,[8] solely dedicated to trading cryptocurrencies for institutional clientele. In addition, he continues to operate the Edgehill Currency Program, his flagship strategy, along with the Prometheus (cryptocurrency) strategy. The Edgehill Currency Program is said to currently manage approximately $85 Million USD in assets.
Family
Mitchell is the great-grandson of former Connecticut Senator and Congressman William Kennedy (Connecticut politician)|William Kennedy,[9] and the son of Kennedy Mitchell Sr. for whom the Kennedy Mitchell Hall of Records, in New Haven is named.
References
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"47-Year-Old Man Injured in Shooting Near Park in New Haven".
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Polansky, Rob. "Shooting investigation underway in New Haven". WFSB.
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"Police investigating shooting in New Haven; 1 man taken to hospital". fox61.com. October 22, 2019.
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"New Haven police investigating shooting incident, one person struck". October 22, 2019.
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"Man Shot Multiple Times Near New Haven Park". New Haven, CT Patch. October 22, 2019.
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News, E. I. N.; Wright, Megan (June 5, 2021). "Kennedy Mitchell, hedge fund manager, launches massive $250 USD Million dollar cryptocurrency unit". EIN News.
{{cite web}}:|last1=has generic name (help) -
"Ex-Congressman William Kennedy". June 20, 1918 – via NYTimes.com.
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I see- thanks for sharing
Looks like various put strikes for SLV would have 100x+ your money. I wish I had done that too 
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SZ,
Based on your chart above, you can also long Shanghai Silver call and long CBOE Silver put. (not sure if this can be done with - Interactive Brokers)
Regards
James
Other way around but yes short Shanghai long cboe. I have no experience with shanghai spot but not a bad idea. Maybe i can find out more. I am sure many will try it if possible. If possible it could even create a bounce.
1 Like
SZ,
Just curious, shouldn’t it be long Shanghai call (since it outperform) and long CBOE put (i.e. short CBOE)? (since it underperform?)
Regards
James
Depends on what you are trying to do. if one is trying to do arbitrage on this (basically betting the price should be similar for silver across markets) one would bet on the price converging. For it to converge the lower price must increase, the higher decrease, or both move closer. Given the difference is so large I am assuming there is something tricky about shanghai silver market but not sure
2 Likes
I’ve considered whether metals exposure could be hedged the same way I hedge equities with near-term, deep OTM puts, but the available instruments make it less practical. Paradoxically, I often feel less comfortable when my portfolio moves into “safety” trades, because those are the positions I find hardest to hedge directly.