Core Insights - Nassim Nicholas Taleb emphasizes the distinction between silver and gold, noting that central banks do not hoard silver, which affects its investment appeal [1] - Gold is preferred by central banks due to its established role as a reserve asset, while silver is more industrial, limiting its attractiveness for central bank reserves [2][3] Performance Comparison - Year-to-date, the iShares Silver Trust (SLV) has surged approximately 74%, while the SPDR Gold Trust (GLD) has increased about 55% [3] - Silver's higher returns come with increased risk, as its Beta relative to the S&P 500 is around 1.4, compared to gold's 0.46, indicating more dramatic price swings for silver [3] Volatility and Risk - Silver's standard deviation of returns over the past year is nearly double that of gold, highlighting its volatility [4] - Investors should be aware of silver's industrial demand fluctuations and market liquidity, which can lead to sudden price shifts [4] Investment Vehicles - ETFs like SLV provide a way for investors to gain exposure to silver without holding physical metal, with SLV trading above $46 as of mid-October 2025 [5] - Despite its strong performance, silver's volatility and lack of central bank backing categorize it as a higher-risk investment compared to gold [5][6] Strategic Considerations - While silver may present short-term upside, its elevated volatility and absence from central bank reserves sharply differentiate it from gold [6] - Investors should consider both performance and risk when allocating to precious metals, as the market treats gold and silver very differently [6]

Core Insights - Nassim Nicholas Taleb emphasizes the distinction between silver and gold, noting that central banks do not hoard silver, which affects its investment appeal [1][6] - Gold is favored by central banks due to its established role as a reserve asset, while silver is primarily viewed as an industrial metal [2][3] Central Banks' Preference - Central banks historically prefer gold for its liquidity, durability, and universal recognition, making it a key choice for reserve diversification [2] - Silver's appeal is limited for central banks despite its price gains, as it is not considered a monetary asset [3] Performance Comparison - Year-to-date, the iShares Silver Trust (SLV) has surged approximately 74%, while the SPDR Gold Trust (GLD) has increased about 55% [3] - Silver's higher volatility is illustrated by its Beta of around 1.4 relative to the S&P 500, compared to gold's Beta of 0.46 [3] Volatility and Investment Risks - Silver's standard deviation of returns over the past year is nearly double that of gold, indicating greater price swings [4] - Investors should be aware of silver's industrial demand fluctuations and market liquidity, which can lead to sudden price shifts [4] Investment Vehicles - ETFs like SLV provide a convenient way for investors to gain exposure to silver without holding physical metal [5] - As of mid-October 2025, SLV is trading above $46, reflecting strong performance and market enthusiasm for silver [5] Conclusion on Investment Strategy - While silver may offer short-term upside, its elevated volatility and absence from central bank reserves differentiate it from gold [6] - Investors should consider both performance and risk when allocating to precious metals, as the market treats gold and silver differently [6]

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Why stablecoins matter for Polkadot’s Treasury.→ Less volatility→ More predictability→ Smarter management of public fundsA detailed look at why DV Delegate @PermanenceDAO recommends stablecoin-denominated proposals, and how it strengthens the ecosystem.Permanence DAO (@PermanenceDAO):Some proposers wonder why we suggest requesting stablecoins rather than native coins (DOT or KSM), especially when the expenses are listed in fiat.More details in the article 👇https://t.co/ilqFJAZcsJ ...

Core Insights - Earnings estimates for the major banks are projected to increase by 10% to 30%, driven by a rebound in investment banking and strong trading performance [1][2] - Investment banking is expected to rise by 22% for the group, while trading for JP Morgan is anticipated to increase by 17% to 19% due to ongoing geopolitical tensions [1][2] - Consumer credit remains stable, with no significant issues reported, as indicated by the master trust data from credit card companies [3][11] Investment Banking and Trading - The investment banking sector has shown a significant recovery from last year's lows, contributing positively to earnings [1] - Trading volatility has been favorable, particularly in Q2, but has calmed in Q3, which may impact banks differently [4][5] - The performance gap between big banks and regional banks is notable, with big banks outperforming by approximately 16% [5][6] Credit Market Insights - Despite some concerns regarding credit, particularly in the auto sector, overall credit conditions remain resilient [9][11] - There are discussions anticipated around the impact of recent bankruptcies on credit standards, especially in private credit [10] - CEOs are expected to address credit situations during earnings calls, particularly in light of the lack of recent macroeconomic data [7][8]

The market-wide uncertainty and bearish selloff with high liquidations doesn’t seem to be over yet. And now, new Bitcoin whales will likely take the volatility a step further. CryptoQuant CEO Ki Young Ju shared the unrealized profit ratio chart for new Bitcoin whales, which just turned into the loss zone, in an X post on Tuesday, Oct. 14. According to the data, new Bitcoin whales have started to see unrealized losses as the asset plunged from its all-time high of $126,198. “Volatility is coming,” Young J ...

Market Overview & Risk Management - Equity valuations are high, and markets are on a knife's edge, prompting consideration of hedges like commodities [1] - Diversification into bonds or commodities and option-based strategies are recommended to bolster portfolios against equity market sell-offs [6] - The market offers opportunities to manage risk, and leaning into hedges is advisable given subdued volatility [43] - It's a good time to reduce US-centric equity risk due to valuations and uncertainties [45] Options Strategies - Option markets are efficient, and determining attractiveness requires more than just observing volatility levels [9][10] - Avoiding leverage and ensuring full collateralization are crucial when using options selling strategies [11] - Diversifying the option overlay through laddering (trading a small slice each day) helps adapt to changing market conditions [12][13] - Demand for income and defense against equity drawdowns should drive growth in option strategies [25] Gold & Precious Metals - Gold is traditionally a safe haven during economic turmoil and geopolitical instability, benefiting from falling interest rates [16][17] - There's significant room for gold to run, supported by geopolitical risks and central bank buying (approximately 1,000 tons per year over the last three years) [20][21] - Investors are typically underallocated to gold, with recommendations suggesting a 5% to 15% allocation [33] - Silver's industrial component (60% of overall demand) offers growth potential through industrialization, energy transition, and AI [49][50]

Ryan, um, let let's get your diagnosis of of what we've seen now, Thursday, Friday, the S&P goes down 200 points. We're up about 105 today. So, what do we make of this uh seasonal pullback.>> Yeah, first off, thanks for back and happy Monday, everybody. You know, you think about it, Mike, we went 33 trading days in a row without a 1% move, either up or down. That was the longest streak since before CO.So, to say we were due is probably an understatement. You know, you look just at the last two days. Yes, ri ...

All right. Well, let's turn now to our question of the day. Is the taco trade back.Taco, that acronym for Trump always chickens out. Lou, what say you. I mean, we had that two trillion selloff on Friday.Green across the screen today. >> Look, as a long-term investor that likes to trade around positions, I'll take the taco trade because it presents some real good opportunities. But I think this is what we talked about earlier.Uncertainty in the markets is is not thing something we love. uncertainty in politi ...

Market Volatility & Geopolitical Risk - Market volatility and uncertainty are inherent costs of engaging with totalitarian states like China [2] - Expect continued market posturing and negotiation cycles, particularly around extension deadlines [3] - Long-term market stability hinges on US dominance in next-generation industries, diminishing China's influence [5] US Competitive Strategy - US needs to prioritize speed as a weapon to compete with China's top-down efficiency [12] - Private sector innovation and manufacturing are crucial for achieving American dominance [8][9] - Regaining control over materials and supply chains is essential for US competitiveness [9] Investment & Capital Allocation - Significant capital investment, such as JPMorgan's potential $500 billion to $1.5 trillion allocation, can accelerate growth in key national security industries [9][10] - Capital infusion enables companies to move faster in building, rebuilding, and dominating critical sectors [11][12] Rare Earths & Strategic Independence - China is currently exerting leverage through rare earth elements [6] - The US is recognizing the need for greater independence in rare earth materials [6]