I'm just curious how you're hedging. Are you planning to reduce exposure to the dollar in order to avoid some of the fluctuations, or are you going to double down. So the most trying time was the second quarter of second quarter last year when the dollar began to depreciate significantly against the Singapore dollar and Singapore dollars.I reference currency. And in any event, 50% of our exposure is in Singapore dollars. So it move I think almost five or 6% during that time.It's about 7% down year on year, ...

Core Insights - Brilliant Earth Group reported strong holiday demand and growth in fine jewelry, achieving record net sales in Q4 and for the full year [5][4][8] Financial Performance - Average order value (AOV) was $2,001 in Q4 and $2,082 for the full year, reflecting declines of 2.3% and 8.2% respectively, influenced by strong fine jewelry performance and higher average selling prices [1] - Total orders increased by 6.5% year-over-year in Q4 and 13% for the full year, with repeat orders rising 15% in Q4 and 13% for the full year [2] - Q4 net sales reached $124.4 million, up 4.1% year-over-year, while full-year net sales were $437.5 million, up 3.6% year-over-year [4][8] - Gross margin was 55.9% in Q4, down 370 basis points year-over-year, and 57.5% for the full year, down 280 basis points, due to rising metal costs [9] - Adjusted EBITDA for Q4 was $4.2 million, representing a 3.3% margin, and $12.0 million for the full year, representing a 2.7% margin [9] Growth in Fine Jewelry - Fine jewelry was highlighted as a key growth driver, reaching 17% of bookings for the full year, with Q4 fine jewelry bookings growing 34% year-over-year [12][13] - Lab-grown diamond fine jewelry bookings grew 61% year-over-year in Q4, positioning the company as a leader in this category [14] Omnichannel Strategy and Showroom Expansion - The company opened two new showrooms in 2025, ending the year with 42 showrooms, and reported a 61% year-over-year increase in orders from retail customers without prior appointments [16] - The flagship showroom in Beverly Hills was opened in January, featuring innovative retail experiences [17] Inventory and Cash Position - Year-over-year inventory increased approximately 39%, with the company maintaining strong inventory turns of around 4x [18] - Brilliant Earth ended Q4 with approximately $79.1 million in cash and no debt, having generated about $5.8 million in free cash flow for the year [19] 2026 Outlook - Management targets mid-single-digit net sales growth for 2026, with gross margins expected in the mid-50% range, and positive adjusted EBITDA anticipated, though slightly lower than 2025 [6][20] - For Q1, net sales are expected to grow in the mid-single digits year-over-year, but adjusted EBITDA margin is projected to be in the negative mid-single digits due to rising metal prices [21]

derive hit $90m options volume in a single day. 14.45m DRV bought back over 40 weeks using 25% of protocol fees. dHedge hedging treasury risk onchain through it. they poached paradigm's head of product. options volume just eclipsed perps for the first time in crypto history. DRV is how you get exposure to that structural shift without touching deribit counterparty risk. ...

Core Insights - The rise of prediction markets like Polymarket and Kalshi provides new avenues for both gambling and investment strategies, allowing investors to navigate market conditions more effectively [1][2] - Danny Moses emphasizes the importance of monitoring prediction markets for insights that could influence investment decisions, particularly in economics and business [2] - Prediction markets can offer valuable information for both bullish and bearish investors, as seen in the case of SoFi Technologies, which has a 38% chance of being added to the S&P 500 by 2026, contributing to its 93% stock price increase over the past year [3][4] Industry Trends - The potential for prediction markets to provide better risk-reward scenarios compared to traditional derivatives is highlighted, with cryptocurrency being a notable example [4][5] - Institutions are expected to increasingly adopt prediction markets, leading to heightened activity and participation from major players in the market [6]

Market Volatility & Hedging - The market exhibits "sticky skew," indicating persistent demand for hedges despite recent market turmoil, suggesting underlying bearish sentiment [3][4] - Institutional investors remain reluctant in the rally, maintaining a bearish outlook despite resilient retail buying [8] - Low correlation among AI-related stocks and Mag Seven names may lead to increased volatility if correlations rise [15][16][17] Generational Investing & Market Psychology - Investors born before the 2008 financial crisis are more risk-averse due to past experiences, while those born after are more inclined to "buy the dip" [6][7][9] - Retail investors have shown resilience and continue to "buy the dip," contrasting with the more cautious approach of institutional investors [7][8] - The market's current state is described as a "paddling duck market," appearing calm on the surface but with underlying instability [17] Potential Market Risks - A multi-standard deviation drawdown could test the "buy the dip" mentality, potentially leading to increased hedging activity [11] - The intercorrelation of AI and Mag Seven stocks is not being reflected, which could lead to volatility [14][15]

A rapid plunge in US interest-rate volatility is heaping pain on a popular Wall Street approach for hedging against financial market turmoil https://t.co/a2IPmWXFvX ...

Market Trends - Crypto traders are hedging the Federal Reserve's next move [1] - $BTC hovered around $110,000 even as gold tore through record highs [1]

Stablecoin Preference - The survey explores the preferred stablecoin for hedging purposes [1] - USDT, USDC, DAI, and "Other" are the options presented for consideration [1] Potential Insights - The results could indicate market trust levels for each stablecoin [1] - The "Other" option suggests the existence of alternative hedging instruments [1]

Market Trends - The Australian dollar is expected to appreciate further [1] Investment Strategy - Australian pension funds are likely to increase hedging of their US assets [1]