It’s Time for Less Intervention on All Levels

It’s Time for Less Intervention on All Levels

Posted On May 12, 2020 3:05 pm

One of CNBC host and NY Times columnist Andrew Ross Sorkin’s favorite phrases for linking the sausage of thoughts while interviewing an evasive guest is, “how do you square this circle?”

Not to diminish ARS’s journalistic skills or achievements I always hear this spoken in the voice of Steve Martin, especially as The Jerk, talking to mob investors saying “ahh yes, depreciating X and getting around this fair housing crap.”  Squaring the circle indeed.

My point, I think, is Martin/Sorkin initially cover-up or fake ignorance until the racket runners themselves finally spits out the ugly truth; yes, we’re running a rigged and self-dealing game.

Steve Martin then rips off his shirt off and proceeds to rectify the injustice by kicking the ass of those living off of kickbacks and such.  Sorkin, probably for the better, doesn’t get to take or have such immediately impactful action.

I’m far from a conspiracy theorist or capitalist turncoat and don’t want these Monday musings to turn into a weekly rant, we’re supposed to be talking options and our positions, but it’s hard to ignore the growing discord and disconnect between all the different sets, and subsets, of data, policy and market performance. Obviously-blatant falsehoods don’t sit well with people, but I think the second, and possibly more insidious erosion of trust comes from the inconsistency of data, the stated goals, and policy from the reality and reaction of institutions and individuals.

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Steve Smith

Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.

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