Jamie Lee Kurtosis

@josh

I’ve seen things you people wouldn’t believe. AUD vol on a 40 handle. Crypto basis swaps. BNPL burrito taxis. Cloudwatch bills the size of a phone number. Memories, tears in rain, etc. etc.

211 Following3,525 Followers112 Posts

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Jamie Lee Kurtosis@josh· 14d

NO LEO NOT LIKE THAT

A screenshot from a Wikipedia page that says "this list is incomplete; you can help by adding missing items".

Jamie Lee Kurtosis@josh· 14d

if Situational really incinerated 45 yards in a month, as CNBC seems to be reporting, then we have a new #1 that's going to be very hard to beat

The fund grew to as big as $45 billion at the start of July before big losses took hold, according to a person familiar.

Jamie Lee Kurtosis@josh· 16d

Assorted Jellybeans: unnecessarily artsy photos from a trip to the Jelly Belly factory up in Fairfield.

A multicolored river of mixed jellybeans, polished to a high sheen, shot in shallow depth-of-field, flows from right to left into a hopper.

Looking down at the Jelly Belly factory floor from a high angle. Hundreds of crates of jellybeans—in rich blue, red, yellow, green, and cyan—are stacked high as far as the eye can see. A worker, clad in white, pushes a dolly laden with red jellybeans away from the camera.

A conveyor belt laden with jellybeans ready to be mixed into a flavor assortment. The bean colors blend from pink at the top, to yellow and purple at the bottom, with green scattered throughout.

Jamie Lee Kurtosis@josh· 19d

posting this to share in a DM, please disregard

A news headline: “Man arrested after screaming ‘stonks’ outside of GameStop high on PCP for 36 hours”

Jamie Lee Kurtosis@josh· 20d

posting this to share in a DM, please disregard

Toto Wolff looking quite disapprovingly at something. His brow is spectacularly furrowed.

Jamie Lee Kurtosis@josh· 20d

presenting my latest work of art in the medium of Pointed scores: I call this one "SK Hynix"

A chart of my scores in this week's Pointed quiz, showing a perfect 190 anchored by 60 points on the second-last question and 90 points on the last question. The chart resembles an exponential curve

Jamie Lee Kurtosis@josh· 23d

Distressing news from the $HAS Q2 earnings call for anyone hoping for Universes Beyond: Sex and the City

Chris Cocks — Chief Executive Officer

Well, certainly Kamigawa is a sequel to when the last Kamigawa came out. It became the best-selling first-party set of all time. But then basically every other first-party set that came out after that kind of took the crown. I would anticipate that the new Kamigawa do likewise. It should be pretty fun. The other two sets are more original settings for us. And then in terms of the Universes Beyond that we'll have next year, I don't want to give away too much on those.

Each of them I think will be pretty cool. I think we have a different kind of announce strategy which is more IP-specific around some significant dates and significant events associated with those. I think the one thing I'll say on the Universes Beyond partners that we have next year is they'll probably be a bit more fantasy-adjacent. And I don't think any of them will take place in New York City because we definitely have gotten that feedback from some fans.

Jamie Lee Kurtosis@josh· Jul 12

for those of you mourning the loss of The Nation's Smallest Bank: there are still two Actual Banks out there with less than $10m in assets! * Equitable S&L (Cadiz, OH) is the new Smallest Bank in America, $8.7m of assets * State Bank of Burrton (KS) is the second-smallest ($9.4m)

A list of the seven smallest banks in America by assets. Four are subsidiaries of larger organizations; one (Kentland) collapsed into receivership on Friday; and two are still extant.

Jamie Lee Kurtosis@josh· Jul 8

on second thought, I like this one better www.bloomberg.com/news/article...

Winnie-the-Pooh tuxedo meme:
Winnie-the-Pooh: it's coming home
Winnie-the-Pooh in a tuxedo: we recommend selling cable gamma due to a possible unscheduled public holiday on July 20th

Jamie Lee Kurtosis@josh· Jul 8

www.bloomberg.com/news/article...

Winnie-the-Pooh tuxedo meme:
Winnie-the-Pooh: Betting on England to win the cup
Winnie-the-Pooh in a tuxedo: short July 20th cable gamma in case Starmer declares a bank holiday

Jamie Lee Kurtosis@josh· Jun 26

the quiz is completely correct, no lies detected, I will not be taking questions

Quiz results showing that I am roughly evenly split between “tech bro” and “Luddite”; mostly “woke”, not “chud”; mostly “hopepilled”, not “doomer”; and extremely “Davis”, not “Dubai”, and I am closest to Mark Carney in these respects

Jamie Lee Kurtosis@josh· Jun 5

pew pew

my scorecard for this week’s Pointed quiz, showing a perfect 190

Jamie Lee Kurtosis@josh· Apr 6

Went for a sunset walk in Redwood Shores (with the new R5 Mark II)

A rabbit, standing in a patch of bark chips, looking mildly surprised in the direction of the camera.

A white egret, beautifully backlit, stares at his own reflection in the water.

A bird sits sulkily on a rock, looking to the right at something out of shot.

A wetland and a high-voltage power line are silhouetted in front of a vibrant post-sunset sky. There's a streak of dark red clouds along the horizon; the sky is pale cyan; and at the top of the picture, some puffy cumulus clouds are deep, dark navy blue.

Jamie Lee Kurtosis@josh· Apr 3

if only the Pointed gave out slabs of beer for first place like the Reuters Friday quiz used to

A screenshot of my score on the April 3rd Pointed, showing a perfect 190

Jamie Lee Kurtosis@josh· Apr 3

Since we're doing Reuters/Bloomberg discourse, here's my favorite souvenir from my entire time in markets: a Reuters convo from the AUD parity-party day in 2010.

#* Conversation *#
REF. NO: 375 DATE: 021110 TIME: 0809
TO DRBS COMMERZ FFT - DB SIN
OUR TERMINAL: DRMS OUR USER: Joshua Giersch
# AUD 3 SELL AT
# #INTERRUPT#
# 1.0000
TO CONFIRM 3 MIO AGREED AT 1.0000 I BUY AUD
VAL 04NOV2010
MY AUD TO AUSTRALIA AND NEW ZEALAND BANKING GROUP, MELBOURNE
THANKS AND BYE
#
#INTERRUPT#
#END REMOTE#
^ ##ENDED AT 08:11 GMT##
(209 CHARS)
#* End of Conversation *#

Jamie Lee Kurtosis@josh· Mar 28

tech sector out here reinventing the O’Hare Straddle

A Will Manidis tweet: “ a friend who thought he owned some SpaceX via a slightly odd SPV just found out (allegedly) the manager sold the underlying to some offshore family office and fled the country”

Jamie Lee Kurtosis@josh· Mar 27

(please disregard last week where I got smacked by the mythical –90)

A scoresheet for the Bloomberg Pointed quiz showing a perfect 190 points

Jamie Lee Kurtosis@josh· Mar 4

if @bloomberg.com adds this as a feature I will pay for a Terminal

“Panic sweeps Korean stocks in biggest one-day crash since 2008”, but it’s in the Pokopia font

Jamie Lee Kurtosis@josh· Feb 28

40.

A Pointed end-of-game screenshot showing a perfect 190 score.

Jamie Lee Kurtosis@josh· Feb 23

best served with an ice-cold glass of sav blonk in an exceptionally good wine bar

A shot of The Score, sitting on a table next to a glass of white wine. In the background, abstract art hangs on a brick wall

Jamie Lee Kurtosis@josh· Feb 23

C. Thi Nguyen’s (@add-hawk.bsky.social) “The Score” is like the antiparticle of Measure What Matters, and for that I absolutely love it

An excerpt from The Score, in which Nguyen argues that metrics provide a dangerous, seductive, artificial clarity around value

Jamie Lee Kurtosis@josh· Feb 9

No, you should use dollar swaps! *yoinked offstage by a giant vaudeville hook*

"Should you use ChatGPT to hedge a new issue?"

Jamie Lee Kurtosis@josh· Jan 23

Bonus: a couple of photos from Hearst Castle, WR Hearst's gargantuan folly on the hills above St Simeon. First photo is the main house (yes, really); second is a detail of the tiling on the floor of the Roman Pool room, a lil' crab made from gold and blue-glass tiles.

The main building of the Hearst Castle complex, a gigantic mock-Spanish pile with a pair of hundred-foot-high bell towers surrounding a front door that tries to be, but isn't, on par with the entrance to Gaudi's Sagrada Família. Palm trees are scattered around the building, and a crowd mills on the steps below, possibly wondering what possessed William Randolph Hearst to build this incoherent pile.

A crab, rendered in small square gold tiles, stands out against a background of the same-sized tiles in deep cobalt-blue glass. The crab's eyes are downturned, making it look grumpy, but it's also very cute.

Jamie Lee Kurtosis@josh· Jan 23

Went for a drive up California highway 1, freshly reopened after a three-year closure due to a slight case of "the road's fallen into the ocean. AGAIN". Am delighted to report that CA-1 is still one of the top two or three roads in America.

Bixby Bridge at Big Sur, a dramatic arched bridge over a deep coastal canyon. The panorama is lit by a golden sunset.

A bush of small blue flowers is lit from behind by a bright-gold sunset.

A dark photo of a field of white calla lilies, standing out against the dark-green background and foliage.

A sunset over the ocean; the land is silhouetted, and the sun, right on the horizon, is lighting up the trailing edges of clouds in the sky.

Jamie Lee Kurtosis@josh· Jan 3

I've learned to accept that I'm basically Ned Flanders

Jamie Lee Kurtosis@josh· Jan 3

time to commence my annual ritual of cursing at TurboTax and threatening to "short $INTU to zero" for four months

Jamie Lee Kurtosis@josh· Dec 7

Met some more of the locals in Dubai. (Shout out to the Dubai Desert Conservation Reserve, and the Al-Maha Desert Resort. Absolute bucket-list stuff.)

An Arabian gazelle is looking straight at the camera. It has slender black horns, a very soft face with dramatic white eyeliner, and ridiculously huge ears that look like variegated leaves.

An Arabian gazelle, standing in desert sand, looking straight at the camera. It has small horns, and looks young.

A brown eagle is looking straight at the camera in close-up. It has a bright yellow beak with a black tip, and looks distinctly unhappy with you.

An eagle is resting on its handler's arm. the handler is looking away from camera and wearing a thick leather glove to protect himself from the talons; the eagle is a ruddy brown, and has its wings spread wide to help itself balance.

Jamie Lee Kurtosis@josh· Dec 7

Went to Dubai and met some locals.

A falcon, wings spread and its eyes intently focused, perches on a glove on the arm of its keeper. The keeper is a young woman, wearing sunglasses, smiling proudly at the falcon.

Jamie Lee Kurtosis@josh· Nov 25

oh no

A screenshot from the above Bloomberg article. "The pensions regulator had been monitoring the swaps contracts based on their nominal value, rather than the risk. If the yield curve were flat, a one-year swap contract and a 10-year swap contract may have the same notional value outstanding, but the dollar value at risk for the 10-year would be far higher. The correct way to hedge a swap is with another swap of equal risk, not equal nominal outstanding."

Jamie Lee Kurtosis@josh· Nov 17

mfw the sticky-delta starts to come unstuck