Note: This thread is related to #COVID19.

Follow the World Health Organization's instructions to reduce your risk of infection. Avoid the three Cs: Crowded places, Close Contact Settings & Confined spaces. Airborne aerosols play an important role in transmitting COVID-19.

- Avoid crowded places and limit time in enclosed spaces

- Apply social distance

- Air rooms by opening windows & doors

- Keep hands and surfaces clean, cover coughs & sneezes

- Wear a mask when you are not at home or when physical distancing is not possible

Gavin Baker
+ Your AuthorsArchive @GavinSBaker Managing Partner & CIO, Atreides Management LP. Formerly Fidelity OTC Fund. No investment advice, views my own. gavin-s-baker.com/ Jan. 30, 2021 1 min read

1) In March, Covid was the only “beta” that mattered.

In Q2, WFH was the dominant “beta.”

From late summer through mid November, vaccine leverage was the most important “beta.”

Beginning in December, the “weaponization of short gamma” was the only “beta” that mattered.

2) Its importance hit a new high on Wednesday.

One of the wildest weeks in the market I have ever experienced in 20 years as a tech investor.

Right up there with 2000, 2008/2009 and March 2020 in terms of underlying volatility.

3) This is not a comment about bubbles, market tops or market bottoms. Just volatility.

Please don’t @ me about what beta means. It is in quotes for a reason!


You can follow @GavinSBaker.



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