Here is today's gem from Matt Levine at Bloomberg: First he talks about Boaz Weinstein and his fight to take over Sculptor; then he talks more about his "two theories of banking," and the recent bank failures. He then explains why closed-end muni funds are getting beaten up. And finally he talks about a research paper which concludes that some individuals flip a coin in a certain way that produces results that are measurably different from the expected 50/50 outcome. The paper does not assert that these individuals are cheating, i.e., that they are intentionally manipulating the outcome. Rather the paper claims, on the basis of an experiment, that some people naturally flip a coin in a way that produces results that are not 50/50. https://tinyurl.com/bbml231011 This is a gift article that does not require a Bloomberg subscription. The link expires in seven days.
%% Good read; except SVB had plenty of ''woke broke'' stupid nonsense, not just bad bond trading Interesting coin flip study; Proverbs found something even better ''WE toss the coin''; much much different for a 55% flip