Britain has repealed the 1824 Vagrancy Act, removing police powers to punish homeless people for sleeping rough or begging in public
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South Korean investors have never borrowed this much to buy equities:
Margin loans in South Korea are up to a record ~$26 billion, DOUBLING since the start of 2025.
However, as a % of Korea's free float, the portion of the market value available for public trading, margin loans are down to ~0.8%, the lowest since the 2020 pandemic low.
This comes as the surge in market cap has significantly outpaced the growth in leverage.
Meanwhile, during the recent market pullbacks, the daily forced liquidation ratio spiked to 4-5% of total outstanding margin loans, well above the ~1% seen under normal conditions.
This means brokers were forced to liquidate 4%-5% of all margin-backed positions in a single day because borrowers could not meet their margin calls.
Record leverage is exacerbating South Korea's market volatility.
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Margin loans in South Korea are up to a record ~$26 billion, DOUBLING since the start of 2025.
However, as a % of Korea's free float, the portion of the market value available for public trading, margin loans are down to ~0.8%, the lowest since the 2020 pandemic low.
This comes as the surge in market cap has significantly outpaced the growth in leverage.
Meanwhile, during the recent market pullbacks, the daily forced liquidation ratio spiked to 4-5% of total outstanding margin loans, well above the ~1% seen under normal conditions.
This means brokers were forced to liquidate 4%-5% of all margin-backed positions in a single day because borrowers could not meet their margin calls.
Record leverage is exacerbating South Korea's market volatility.
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Mark Spitznagel - founder of Universa, the "black swan" fund Nassim Taleb advises - on the most counterintuitive idea in investing:
add a 3% sliver of crash insurance to a stock portfolio. give that insurance a 0% expected return - it makes nothing over time.
it still raises the portfolio's long-run compound return - by roughly what you'd get from putting that same 3% into an asset returning 20%+ a year.
how? by killing the deep drawdowns that quietly destroy compounding. but the insurance has to actually fire in a crash. one that only sometimes pays out is "like a parachute that only sometimes deploys - you're better off not wearing one."
most "safe havens" - gold, the dollar, hedge funds, even a Picasso - fail that test.
~13-min talk, free. the man who made ~4,000% in the 2020 crash, on what actually protects you ↓
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add a 3% sliver of crash insurance to a stock portfolio. give that insurance a 0% expected return - it makes nothing over time.
it still raises the portfolio's long-run compound return - by roughly what you'd get from putting that same 3% into an asset returning 20%+ a year.
how? by killing the deep drawdowns that quietly destroy compounding. but the insurance has to actually fire in a crash. one that only sometimes pays out is "like a parachute that only sometimes deploys - you're better off not wearing one."
most "safe havens" - gold, the dollar, hedge funds, even a Picasso - fail that test.
~13-min talk, free. the man who made ~4,000% in the 2020 crash, on what actually protects you ↓
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BREAKING: Trump announces new US Military strikes on Iran and threatens that Iran “will no longer exist” if there comes a point when “we are no longer able to be reasonable.”
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BREAKING: United States Navy and Air Force fighter jets conducted strikes on 10 Iranian military targets at multiple locations in and near the Strait of Hormuz, US military says
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This is a PERFECT visual representation of how low that water levels are at Lake Powell
See the metal thing that’s stretching out over the top of the rocks?
Thats one of the old ramps. The new structure below had to be created because the water level is so low it can no longer be used
The water level at lake Powell is now only at about 23% capacity
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See the metal thing that’s stretching out over the top of the rocks?
Thats one of the old ramps. The new structure below had to be created because the water level is so low it can no longer be used
The water level at lake Powell is now only at about 23% capacity
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That moment you find out the carnival cruise is cheap for a reason (that reason is black people)
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The average tick would die of nicotine poisoning if you smoked one cigarette before it bit you. Make sure to take a drag every few minutes on a hike. It’s for your health. You likely only have 6 months of this being effective before nicotine resistant ticks are accidentally released from the national laboratory for preventing ticks from developing nicotine resistance
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Yep, this gender DEI is also confirmed in STEM tenure:
"What we found shocked us. Women had an overall 2-to-1 advantage in being ranked first for the job in all fields studied. This preference for women was expressed equally by male and female faculty members, with the single exception of male economists, who were gender neutral in their preferences.
In some conditions, women’s advantage reached 4-to-1. When women were compared with men who shared the same lifestyle, advantages accrued to women in all demographic groups—including single or married women without children, married women with preschoolers, and divorced mothers."
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"What we found shocked us. Women had an overall 2-to-1 advantage in being ranked first for the job in all fields studied. This preference for women was expressed equally by male and female faculty members, with the single exception of male economists, who were gender neutral in their preferences.
In some conditions, women’s advantage reached 4-to-1. When women were compared with men who shared the same lifestyle, advantages accrued to women in all demographic groups—including single or married women without children, married women with preschoolers, and divorced mothers."
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The average woman rejects 86% of men before even speaking to or chatting with them. This indicates a massively narcissistic view of their own stature in the dating market and explains why they have such a hard time getting a man to commit to them
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