Reader Question on Hedging
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bitcoin
Weekly Points – September 26th, 2025 – 5 Things to Know in Investing This Week – The What if There’s an AI Spending Problem Issue
Last week, Enrique Abeyta warned that OpenAI reminds him of Enron from the dot com boom/bust. This week, Nvidia announced a $100B “investment” into OpenAI which will then be used to buy Nvidia chips. This is the exact kind of accounting shenanigans that Enrique warned about. He’ll be guest hosting the video version of The … Read more
Weekly Points – August 22nd, 2025 – 5 Things to Know in Investing This Week – The Chairman Speaks Issue
Chairman Powell leans dovish in his annual remarks causing risk assets including Bitcoin, gold, equities, and energy to trade up sharply. DKI disagrees with the (potential) decision to cut rates, but still profits from it. The White House will be pleased, but don’t expect the President to start praising Powell in public. Copper tariffs are … Read more
Bitcoin – It’s All About the Fed Right Now
Bitcoin is an asset with no cash flows, no interest payments, and no fundamentals. That means explanations for short-term volatility are often little more than guesses. However, this time, there is an easy explanation for the volatility of the recent few weeks. In general, Bitcoin and gold tend to experience higher dollar prices when the … Read more
Weekly Points – August 8th, 2025 – 5 Things to Know in Investing This Week – The You’re Fired Issue
President Trump fires the head of the BLS. We immediately get performative complaining that the integrity of the BLS and the government data collection process is being threatened and politicized. Somehow, the “integrity” crowd ignores the fact that last year, there were two 800k plus revisions and we just had a 258k revision. Firing the … Read more
Geopolitics
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I Don’t Know
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Weekly Points – April 25th, 2025 – 5 Things to Know in Investing This Week – The Correlation Issue
For the past few years, we’ve all heard that Bitcoin is just a high-beta proxy for the NASDAQ. It seemed to make sense, but what does the data say? We look at whether Bitcoin and gold are really uncorrelated assets. Investors have been complaining that the dollar is falling. DKI thinks that depends on your … Read more
Everybody Hold On
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Weekly Points – March 7th, 2025 – 5 Things to Know in Investing This Week – The Crash Stocks to Save Bonds Issue
This week, we got news on the new national crypto strategic reserve that first spiked the dollar price of some coins, then crashed them. The details now indicate the Bitcoin can only be bought if it doesn’t cost the taxpayer anything. It’s not clear what those circumstances might be. As DKI wrote in January, it’s … Read more
