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	<title>Steam Catapult</title>
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	<link>http://steamcatapult.com</link>
	<description>Launching Innovation</description>
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		<title>Dealing with a heckler</title>
		<link>http://steamcatapult.com/2012/05/17/dealing-with-a-heckler/</link>
		<comments>http://steamcatapult.com/2012/05/17/dealing-with-a-heckler/#comments</comments>
		<pubDate>Thu, 17 May 2012 05:35:59 +0000</pubDate>
		<dc:creator>David Pinsen</dc:creator>
				<category><![CDATA[Business and Entrepreneurship]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[hedging]]></category>

		<guid isPermaLink="false">http://steamcatapult.com/?p=2943</guid>
		<description><![CDATA[An article of mine published by Seeking Alpha over the weekend (&#8220;Hedging Against Gold Losing Its Haven Status&#8220;) attracted a heckler. 
That article quoted both a bullish case and a bearish case for gold, originally presented in an FT article Saturday. One gold bug, angry that I included a case against gold in my article, [...]


Related posts:<ol><li><a href='http://steamcatapult.com/2011/09/23/gold-investors-get-hammered/' rel='bookmark' title='Permanent Link: Gold'>Gold</a> <small>I just submitted an article about this to Seeking Alpha,...</small></li>
<li><a href='http://steamcatapult.com/2011/08/24/a-timely-article/' rel='bookmark' title='Permanent Link: A timely article?'>A timely article?</a> <small>I wrote this on August 4th,  &#8220;Why you should consider...</small></li>
<li><a href='http://steamcatapult.com/2011/09/28/a-few-updates-3/' rel='bookmark' title='Permanent Link: A few updates'>A few updates</a> <small>- Gold: sold those GLD puts for a 101.5% gain...</small></li>
</ol>

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			<content:encoded><![CDATA[<p>An article of mine published by Seeking Alpha over the weekend (&#8220;<a href="http://seekingalpha.com/article/584081-hedging-against-gold-losing-its-haven-status">Hedging Against Gold Losing Its Haven Status</a>&#8220;) attracted a heckler. </p>
<p>That article quoted both a bullish case and a bearish case for gold, originally presented in an FT article Saturday. One gold bug, angry that I included a case against gold in my article, noted that my article was a way of promoting <a href="http://portfolioarmor.com/">Portfolio Armor</a>, and attacked me as a &#8220;tout/troll&#8221;.</p>
<p>That part of his comment was excised by the Seeking Alpha editors, but they kept my response (which you can see <a href="http://seekingalpha.com/article/584081-hedging-against-gold-losing-its-haven-status">there</a>), in which I acknowledged that part of the reason authors submit articles to Seeking Alpha is to gain exposure for their businesses, and Seeking Alpha allows that, provided the articles meet their editorial standards and the business is mentioned in a way that isn&#8217;t overly promotional.</p>
<p>I was pleasantly surprised to see that a couple of commenters groked that one could &#8220;tout&#8221; one&#8217;s business and still offer useful info. One wrote (replying to the commenter who called me a tout/troll),</p>
<blockquote><p>I know what you&#8217;re saying, but honestly this is a pretty useful article. I appreciate the useful information on how to efficiently and effectively hedge positions. I think that the author has done a nice job of providing valuable information in the context of promoting his app, and I have no problem with that. I wish I had used a strategy like this when silver was in the high $40&#8217;s and gold was around $1900.
</p></blockquote>
<p>Another wrote,</p>
<blockquote><p>David, thank you for offering your suggestions about the offsetting of risk.</p>
<p>The fact that you offer your advice from a position as a professional and an entrepreneur has no bearing on its validity as you are rightly forthcoming about your interests.</p></blockquote>
<p>So, that was nice to see. Sunday also turned out to be the best day for Portfolio Armor business in the a couple of months (certainly better than April, which was pretty slow with me out of action). </p>


<p>Related posts:<ol><li><a href='http://steamcatapult.com/2011/09/23/gold-investors-get-hammered/' rel='bookmark' title='Permanent Link: Gold'>Gold</a> <small>I just submitted an article about this to Seeking Alpha,...</small></li>
<li><a href='http://steamcatapult.com/2011/08/24/a-timely-article/' rel='bookmark' title='Permanent Link: A timely article?'>A timely article?</a> <small>I wrote this on August 4th,  &#8220;Why you should consider...</small></li>
<li><a href='http://steamcatapult.com/2011/09/28/a-few-updates-3/' rel='bookmark' title='Permanent Link: A few updates'>A few updates</a> <small>- Gold: sold those GLD puts for a 101.5% gain...</small></li>
</ol></p>
<p>Related posts brought to you by <a href='http://mitcho.com/code/yarpp/'>Yet Another Related Posts Plugin</a>.</p>]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>For Phillipe Rancourt</title>
		<link>http://steamcatapult.com/2012/05/12/for-phillipe-rancourt/</link>
		<comments>http://steamcatapult.com/2012/05/12/for-phillipe-rancourt/#comments</comments>
		<pubDate>Sun, 13 May 2012 01:20:47 +0000</pubDate>
		<dc:creator>David Pinsen</dc:creator>
				<category><![CDATA[Musings memories and observations]]></category>
		<category><![CDATA[blogging]]></category>
		<category><![CDATA[Disqus]]></category>
		<category><![CDATA[Twitter]]></category>

		<guid isPermaLink="false">http://steamcatapult.com/?p=2927</guid>
		<description><![CDATA[Phillipe Rancourt, in a witty allusion to the arc of a typical blog, and in response to the lack of posts here over the last ~2.5 months, asks if it&#8217;s time for me to post a picture of my cat. We&#8217;ve got two, a brother and sister. Here they are: 

As for the recent posting [...]


Related posts:<ol><li><a href='http://steamcatapult.com/2012/02/11/tweets-of-the-week-3/' rel='bookmark' title='Permanent Link: Tweets of the Week'>Tweets of the Week</a> <small>Micro blogging is quicker than regular blogging, but tweets are...</small></li>
<li><a href='http://steamcatapult.com/2012/02/18/tweets-of-the-week-2-18-2012/' rel='bookmark' title='Permanent Link: Tweets of the Week, 2.18.2012'>Tweets of the Week, 2.18.2012</a> <small>For the idea behind this weekly series of posts, see...</small></li>
<li><a href='http://steamcatapult.com/2012/01/27/mandates/' rel='bookmark' title='Permanent Link: Making Sense of Mandates'>Making Sense of Mandates</a> <small>For the most part, I&#8217;ve avoided writing about politics on...</small></li>
</ol>

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			<content:encoded><![CDATA[<p><a href="https://twitter.com/#!/philrancourt">Phillipe Rancourt</a>, in a witty allusion to <a href="http://thehackensack.blogspot.com/2009/07/arc-of-typical-blog.html">the arc of a typical blog</a>, and in response to the lack of posts here over the last ~2.5 months, <a href="http://steamcatapult.com/2012/03/01/test-1/#comment-527498599">asks</a> if it&#8217;s time for me to post a picture of my cat. We&#8217;ve got two, a brother and sister. Here they are: </p>
<p><a href="http://steamcatapult.com/wp-content/uploads/2012/05/Cats.jpg"><img src="http://steamcatapult.com/wp-content/uploads/2012/05/Cats.jpg" alt="" title="Cats" width="480" height="640" class="aligncenter size-full wp-image-2928" /></a></p>
<p>As for the recent posting drought here, I was pretty much out of action during the month of April, due to some health issues. But that doesn&#8217;t explain the lack of posts in March or up until now in May. Part of the reason is that when I have the urge to share a link to the something, where I might have written a blog post about it in the past, usually now I just share the link via Twitter.</p>
<p>I tweet all of my Seeking Alpha articles and guest blog posts on hedging via the <a href="https://twitter.com/#!/PortfolioArmor">@PortfolioArmor</a> Twitter account. Most of those articles are geared toward those who are unfamiliar with Portfolio Armor, and might seem redundant to those who have read this blog. The ones I think might be of slightly more general interest, I retweet via my <a href="https://twitter.com/#!/dpinsen">@dpinsen</a> Twitter account. For example, I retweeted these two recently:</p>
<blockquote class="twitter-tweet"><p>Guest post on @<a href="https://twitter.com/SlopeOfHope">SlopeOfHope</a>: “@<a href="https://twitter.com/PortfolioArmor">PortfolioArmor</a>: Hedging Update: Social Media Stocks &#8212; <a href="http://t.co/CjiDCWQm" title="http://stks.co/3nYR">stks.co/3nYR</a> $P $LNKD $ZNGA $FB $SOCL $QQQ”</p>
<p>&mdash; David Pinsen (@dpinsen) <a href="https://twitter.com/dpinsen/status/201350061010059265" data-datetime="2012-05-12T16:36:10+00:00">May 12, 2012</a></p></blockquote>
<blockquote class="twitter-tweet"><p>Quotes @<a href="https://twitter.com/johngapper">johngapper</a> &amp; @<a href="https://twitter.com/fredwilson">fredwilson</a>. RT @<a href="https://twitter.com/PortfolioArmor">PortfolioArmor</a>: Hedging Biotechs As R&amp;D Investment Declines <a href="http://t.co/hNNuOOaL" title="http://stks.co/3lt0">stks.co/3lt0</a> $AMLN $CELG $GILD</p>
<p>&mdash; David Pinsen (@dpinsen) <a href="https://twitter.com/dpinsen/status/200645621261152257" data-datetime="2012-05-10T17:56:58+00:00">May 10, 2012</a></p></blockquote>
<p>When I can&#8217;t get my point across about something in 140 characters, then I&#8217;ll write a blog post here (if anyone reading this has something they&#8217;d be interested in me writing about, feel free to suggest it in the comments below). If you&#8217;re interested in my thoughts in between my blog posts here, in addition to following me on Twitter, you can view my comments on other blogs via <a href="http://disqus.com/daveinhackensack/">Disqus</a>. </p>


<p>Related posts:<ol><li><a href='http://steamcatapult.com/2012/02/11/tweets-of-the-week-3/' rel='bookmark' title='Permanent Link: Tweets of the Week'>Tweets of the Week</a> <small>Micro blogging is quicker than regular blogging, but tweets are...</small></li>
<li><a href='http://steamcatapult.com/2012/02/18/tweets-of-the-week-2-18-2012/' rel='bookmark' title='Permanent Link: Tweets of the Week, 2.18.2012'>Tweets of the Week, 2.18.2012</a> <small>For the idea behind this weekly series of posts, see...</small></li>
<li><a href='http://steamcatapult.com/2012/01/27/mandates/' rel='bookmark' title='Permanent Link: Making Sense of Mandates'>Making Sense of Mandates</a> <small>For the most part, I&#8217;ve avoided writing about politics on...</small></li>
</ol></p>
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		<item>
		<title>Hedging Costs for Gold-Tracking ETF Jump after Fed Chairman&#8217;s Testimony</title>
		<link>http://steamcatapult.com/2012/03/01/test-1/</link>
		<comments>http://steamcatapult.com/2012/03/01/test-1/#comments</comments>
		<pubDate>Thu, 01 Mar 2012 05:05:30 +0000</pubDate>
		<dc:creator>David Pinsen</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Investing]]></category>
		<category><![CDATA[hedging]]></category>

		<guid isPermaLink="false">http://steamcatapult.com/?p=2912</guid>
		<description><![CDATA[We tweeted this before Bernanke&#8217;s testimony Tuesday: 
Cheap to hedge $GLD against a greater than 20% drop between now &#038; September &#8211; 0.8%. Longs should consider it. twitter.com/PortfolioArmor…
&#8212; Portfolio Armor (@PortfolioArmor) February 29, 2012

Hedging costs had jumped 46% for GLD  by the end of the day, as we noted in this Seeking Alpha article. [...]


Related posts:<ol><li><a href='http://steamcatapult.com/2012/02/15/high-optimal-hedging-costs-offer-another-warning/' rel='bookmark' title='Permanent Link: High Optimal Hedging Costs Offer Another Warning'>High Optimal Hedging Costs Offer Another Warning</a> <small>In a previous post, we noted that we&#8217;d seen several...</small></li>
<li><a href='http://steamcatapult.com/2011/08/04/hedging-update-post-debt-ceiling-edition/' rel='bookmark' title='Permanent Link: Hedging Update &#8212; Post Debt Ceiling Edition'>Hedging Update &#8212; Post Debt Ceiling Edition</a> <small>Hedging costs after the debt deal Last week, with the...</small></li>
<li><a href='http://steamcatapult.com/2011/09/23/gold-investors-get-hammered/' rel='bookmark' title='Permanent Link: Gold'>Gold</a> <small>I just submitted an article about this to Seeking Alpha,...</small></li>
</ol>

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			<content:encoded><![CDATA[<p>We tweeted this before Bernanke&#8217;s testimony Tuesday: </p>
<blockquote class="twitter-tweet"><p>Cheap to hedge $GLD against a greater than 20% drop between now &#038; September &#8211; 0.8%. Longs should consider it. <a href="http://t.co/5Cb1148x" title="http://twitter.com/PortfolioArmor/status/174876875150204929/photo/1">twitter.com/PortfolioArmor…</a></p>
<p>&mdash; Portfolio Armor (@PortfolioArmor) <a href="https://twitter.com/PortfolioArmor/status/174876875150204929" data-datetime="2012-02-29T15:21:11+00:00">February 29, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Hedging costs had jumped 46% for GLD  by the end of the day, as we noted in <a href="http://seekingalpha.com/article/403551-after-bernanke-s-testimony-hedging-precious-metal-etfs">this</a> Seeking Alpha article. </p>


<p>Related posts:<ol><li><a href='http://steamcatapult.com/2012/02/15/high-optimal-hedging-costs-offer-another-warning/' rel='bookmark' title='Permanent Link: High Optimal Hedging Costs Offer Another Warning'>High Optimal Hedging Costs Offer Another Warning</a> <small>In a previous post, we noted that we&#8217;d seen several...</small></li>
<li><a href='http://steamcatapult.com/2011/08/04/hedging-update-post-debt-ceiling-edition/' rel='bookmark' title='Permanent Link: Hedging Update &#8212; Post Debt Ceiling Edition'>Hedging Update &#8212; Post Debt Ceiling Edition</a> <small>Hedging costs after the debt deal Last week, with the...</small></li>
<li><a href='http://steamcatapult.com/2011/09/23/gold-investors-get-hammered/' rel='bookmark' title='Permanent Link: Gold'>Gold</a> <small>I just submitted an article about this to Seeking Alpha,...</small></li>
</ol></p>
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		<slash:comments>859</slash:comments>
		</item>
		<item>
		<title>Tweets of the Week, 2.18.2012</title>
		<link>http://steamcatapult.com/2012/02/18/tweets-of-the-week-2-18-2012/</link>
		<comments>http://steamcatapult.com/2012/02/18/tweets-of-the-week-2-18-2012/#comments</comments>
		<pubDate>Sun, 19 Feb 2012 03:06:38 +0000</pubDate>
		<dc:creator>David Pinsen</dc:creator>
				<category><![CDATA[I eschew categories]]></category>

		<guid isPermaLink="false">http://steamcatapult.com/?p=2907</guid>
		<description><![CDATA[For the idea behind this weekly series of posts, see the preamble to the 1st edition.  
Not the age, it&#8217;s the mileage. &#8220;@dpinsen: MT @MikeZaccardi: RT @coffeygrinds: Snaps Of Whitney Houston last night bit.ly/xvos7B&#8220;
&#8212; Andy Swan (@AndySwan) February 12, 2012

Twitter Breaks News of Whitney Houston Death 27 Minutes Before Press &#8211; on.mash.to/y2tmUS
&#8212; Pete Cashmore [...]


Related posts:<ol><li><a href='http://steamcatapult.com/2012/02/11/tweets-of-the-week-3/' rel='bookmark' title='Permanent Link: Tweets of the Week'>Tweets of the Week</a> <small>Micro blogging is quicker than regular blogging, but tweets are...</small></li>
<li><a href='http://steamcatapult.com/2012/01/27/mandates/' rel='bookmark' title='Permanent Link: Making Sense of Mandates'>Making Sense of Mandates</a> <small>For the most part, I&#8217;ve avoided writing about politics on...</small></li>
<li><a href='http://steamcatapult.com/2012/02/15/high-optimal-hedging-costs-offer-another-warning/' rel='bookmark' title='Permanent Link: High Optimal Hedging Costs Offer Another Warning'>High Optimal Hedging Costs Offer Another Warning</a> <small>In a previous post, we noted that we&#8217;d seen several...</small></li>
</ol>

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			<content:encoded><![CDATA[<p>For the idea behind this weekly series of posts, see the preamble to the <a href="http://steamcatapult.com/2012/02/11/tweets-of-the-week-3/">1st edition</a>.  </p>
<blockquote class="twitter-tweet"><p>Not the age, it&#8217;s the mileage. &#8220;@<a href="https://twitter.com/dpinsen">dpinsen</a>: MT @<a href="https://twitter.com/MikeZaccardi">MikeZaccardi</a>: RT @<a href="https://twitter.com/coffeygrinds">coffeygrinds</a>: Snaps Of Whitney Houston last night <a href="http://t.co/KpLqqIzi" title="http://bit.ly/xvos7B">bit.ly/xvos7B</a>&#8220;</p>
<p>&mdash; Andy Swan (@AndySwan) <a href="https://twitter.com/AndySwan/status/168510743912775680" data-datetime="2012-02-12T01:44:26+00:00">February 12, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>Twitter Breaks News of Whitney Houston Death 27 Minutes Before Press &#8211; <a href="http://t.co/5bZyj1N2" title="http://on.mash.to/y2tmUS">on.mash.to/y2tmUS</a></p>
<p>&mdash; Pete Cashmore (@mashable) <a href="https://twitter.com/mashable/status/168741923845185537" data-datetime="2012-02-12T17:03:04+00:00">February 12, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>We Are Better Than This: <a href="http://t.co/lciHnZth" title="http://wp.me/p1RmvN-9m">wp.me/p1RmvN-9m</a> via @<a href="https://twitter.com/Uncrunched">Uncrunched</a></p>
<p>&mdash; Michael Arrington (@arrington) <a href="https://twitter.com/arrington/status/169239968265416704" data-datetime="2012-02-14T02:02:07+00:00">February 14, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p><a href="http://t.co/hQNIgoI1" title="http://www.realdanlyons.com/blog/2012/02/13/hit-men-click-whores-and-paid-apologists-welcome-to-the-silicon-cesspool/">realdanlyons.com/blog/2012/02/1…</a> Love this. Solid slaying of arrington/siegler/pandodaily et. al., by @<a href="https://twitter.com/realdanlyons">realdanlyons</a></p>
<p>&mdash; Jared McKiernan (@jaredmckiernan) <a href="https://twitter.com/jaredmckiernan/status/169328996071378944" data-datetime="2012-02-14T07:55:53+00:00">February 14, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet" data-in-reply-to="170023502240432128"><p>@<a href="https://twitter.com/albertwenger">albertwenger</a> @<a href="https://twitter.com/christinacaci">christinacaci</a> Definitely, thanks for sharing. A term for what Thiel discusses in the last paragraph: <a href="http://t.co/TfksdDup" title="http://en.m.wikipedia.org/wiki/Overton_window">en.m.wikipedia.org/wiki/Overton_w…</a></p>
<p>&mdash; David Pinsen (@dpinsen) <a href="https://twitter.com/dpinsen/status/170049930096947200" data-datetime="2012-02-16T07:40:37+00:00">February 16, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>Another example of high optimal hedging costs acting as a red flag, this time for $ZNGA: <a href="http://t.co/gf8tzfjK" title="http://stks.co/2Qqa">stks.co/2Qqa</a></p>
<p>&mdash; David Pinsen (@dpinsen) <a href="https://twitter.com/dpinsen/status/169968270311559168" data-datetime="2012-02-16T02:16:08+00:00">February 16, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet" data-in-reply-to="170074480230666241"><p>@<a href="https://twitter.com/dpinsen">dpinsen</a> Amen. Immune from criticism, unaffected by market forces. If this was done by a private company they would have no customers.</p>
<p>&mdash; DHH (@dhh) <a href="https://twitter.com/dhh/status/170090349400821760" data-datetime="2012-02-16T10:21:14+00:00">February 16, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>&#8220;your name is Windows. Why are you a flag?&#8221; <a href="http://t.co/gJOFhdhb" title="http://windowsteamblog.com/windows/b/bloggingwindows/archive/2012/02/17/redesigning-the-windows-logo.aspx">windowsteamblog.com/windows/b/blog…</a></p>
<p>&mdash; Jared McKiernan (@jaredmckiernan) <a href="https://twitter.com/jaredmckiernan/status/170630921672851457" data-datetime="2012-02-17T22:09:16+00:00">February 17, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>Yesterday I was asked, &#8220;How did you learn all these development points?&#8221; My reply was simple, &#8220;10 years.&#8221; <a href="http://t.co/7tFQfJLP" title="http://techoctave.com/c7/posts/57-hustle-and-code">techoctave.com/c7/posts/57-hu…</a></p>
<p>&mdash; Tian Davis [天] (@tiandavis) <a href="https://twitter.com/tiandavis/status/170847069848875009" data-datetime="2012-02-18T12:28:10+00:00">February 18, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>How Target Figured Out A Teen Girl Was Pregnant Before Her Father Did &#8211; <a href="http://t.co/XHanfNkS" title="http://onforb.es/AEzib8">onforb.es/AEzib8</a></p>
<p>&mdash; Matt Shampine (@ms) <a href="https://twitter.com/ms/status/171011693428736001" data-datetime="2012-02-18T23:22:19+00:00">February 18, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>


<p>Related posts:<ol><li><a href='http://steamcatapult.com/2012/02/11/tweets-of-the-week-3/' rel='bookmark' title='Permanent Link: Tweets of the Week'>Tweets of the Week</a> <small>Micro blogging is quicker than regular blogging, but tweets are...</small></li>
<li><a href='http://steamcatapult.com/2012/01/27/mandates/' rel='bookmark' title='Permanent Link: Making Sense of Mandates'>Making Sense of Mandates</a> <small>For the most part, I&#8217;ve avoided writing about politics on...</small></li>
<li><a href='http://steamcatapult.com/2012/02/15/high-optimal-hedging-costs-offer-another-warning/' rel='bookmark' title='Permanent Link: High Optimal Hedging Costs Offer Another Warning'>High Optimal Hedging Costs Offer Another Warning</a> <small>In a previous post, we noted that we&#8217;d seen several...</small></li>
</ol></p>
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		</item>
		<item>
		<title>High Optimal Hedging Costs Offer Another Warning</title>
		<link>http://steamcatapult.com/2012/02/15/high-optimal-hedging-costs-offer-another-warning/</link>
		<comments>http://steamcatapult.com/2012/02/15/high-optimal-hedging-costs-offer-another-warning/#comments</comments>
		<pubDate>Thu, 16 Feb 2012 01:40:28 +0000</pubDate>
		<dc:creator>David Pinsen</dc:creator>
				<category><![CDATA[Investing]]></category>
		<category><![CDATA[Speculations]]></category>
		<category><![CDATA[Technology]]></category>
		<category><![CDATA[hedging]]></category>
		<category><![CDATA[Portfolio Armor]]></category>

		<guid isPermaLink="false">http://steamcatapult.com/?p=2896</guid>
		<description><![CDATA[In a previous post, we noted that we&#8217;d seen several examples of high optimal hedging costs presaging poor performance in a stock. This is the most recent example. 
Last week, we noted the high optimal hedging cost for Zynga could be a warning: 
Steep hedging cost for $ZNGA (compare to last tweet re $QQQ). A [...]


Related posts:<ol><li><a href='http://steamcatapult.com/2012/01/25/hedging-a-high-yield-long-idea/' rel='bookmark' title='Permanent Link: Hedging a High Yield Long Idea'>Hedging a High Yield Long Idea</a> <small>Hedging a High Yield Long Idea In a post Wednesday...</small></li>
<li><a href='http://steamcatapult.com/2011/07/29/hedging-update-default-watch-edition/' rel='bookmark' title='Permanent Link: Hedging Update &#8212; Default Watch Edition'>Hedging Update &#8212; Default Watch Edition</a> <small> Credit Suisse on the consequences of a default On...</small></li>
<li><a href='http://steamcatapult.com/2011/08/04/hedging-update-post-debt-ceiling-edition/' rel='bookmark' title='Permanent Link: Hedging Update &#8212; Post Debt Ceiling Edition'>Hedging Update &#8212; Post Debt Ceiling Edition</a> <small>Hedging costs after the debt deal Last week, with the...</small></li>
</ol>

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			<content:encoded><![CDATA[<p>In a <a href="http://steamcatapult.com/2011/12/30/emergent-properties/">previous post</a>, we noted that we&#8217;d seen several examples of high optimal hedging costs presaging poor performance in a stock. This is the most recent example. </p>
<p>Last week, we noted the high optimal hedging cost for Zynga could be a warning: </p>
<blockquote class="twitter-tweet"><p>Steep hedging cost for $ZNGA (compare to last tweet re $QQQ). A red flag for Zynga longs? <a href="http://t.co/LUPuxSqR" title="http://twitter.com/PortfolioArmor/status/167486620348579840/photo/1">twitter.com/PortfolioArmor…</a></p>
<p>&mdash; Portfolio Armor (@PortfolioArmor) <a href="https://twitter.com/PortfolioArmor/status/167486620348579840" data-datetime="2012-02-09T05:54:57+00:00">February 9, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><a href="https://twitter.com/#!/PortfolioArmor/statuses/167484183428612097">This</a> was the &#8220;last tweet re $QQQ&#8221; referred to in the tweet above. </p>
<p>Zynga tanked almost 18% today after posting a net loss of $435 million, on a $510 million charge associated with stock-based compensation issued to its employees. </p>
<p><a href="http://steamcatapult.com/wp-content/uploads/2012/02/2-ZNGA.jpg"><img src="http://steamcatapult.com/wp-content/uploads/2012/02/2-ZNGA.jpg" alt="" title="2 ZNGA" width="320" height="480" class="aligncenter size-full wp-image-2898" /></a></p>
<p><a href="http://steamcatapult.com/wp-content/uploads/2012/02/1-ZNGA.jpg"><img src="http://steamcatapult.com/wp-content/uploads/2012/02/1-ZNGA.jpg" alt="" title="1 ZNGA" width="480" height="320" class="aligncenter size-full wp-image-2897" /></a></p>


<p>Related posts:<ol><li><a href='http://steamcatapult.com/2012/01/25/hedging-a-high-yield-long-idea/' rel='bookmark' title='Permanent Link: Hedging a High Yield Long Idea'>Hedging a High Yield Long Idea</a> <small>Hedging a High Yield Long Idea In a post Wednesday...</small></li>
<li><a href='http://steamcatapult.com/2011/07/29/hedging-update-default-watch-edition/' rel='bookmark' title='Permanent Link: Hedging Update &#8212; Default Watch Edition'>Hedging Update &#8212; Default Watch Edition</a> <small> Credit Suisse on the consequences of a default On...</small></li>
<li><a href='http://steamcatapult.com/2011/08/04/hedging-update-post-debt-ceiling-edition/' rel='bookmark' title='Permanent Link: Hedging Update &#8212; Post Debt Ceiling Edition'>Hedging Update &#8212; Post Debt Ceiling Edition</a> <small>Hedging costs after the debt deal Last week, with the...</small></li>
</ol></p>
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		</item>
		<item>
		<title>Tweets of the Week</title>
		<link>http://steamcatapult.com/2012/02/11/tweets-of-the-week-3/</link>
		<comments>http://steamcatapult.com/2012/02/11/tweets-of-the-week-3/#comments</comments>
		<pubDate>Sat, 11 Feb 2012 07:43:51 +0000</pubDate>
		<dc:creator>David Pinsen</dc:creator>
				<category><![CDATA[Culture]]></category>
		<category><![CDATA[Politics]]></category>
		<category><![CDATA[U.S. economy]]></category>
		<category><![CDATA[hedging]]></category>
		<category><![CDATA[sports]]></category>
		<category><![CDATA[Twitter]]></category>

		<guid isPermaLink="false">http://steamcatapult.com/?p=2893</guid>
		<description><![CDATA[Micro blogging is quicker than regular blogging, but tweets are also more ephemeral: it&#8217;s pretty common for someone to read a blog post you wrote a day or a week ago, but not so common for someone to read something you tweeted an hour ago. With that in mind, I&#8217;m going to start picking 10 [...]


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<li><a href='http://steamcatapult.com/2011/12/09/me-on-bloomberg-tv/' rel='bookmark' title='Permanent Link: Me on Bloomberg TV'>Me on Bloomberg TV</a> <small>Well, my tweet, actually. This one got mentioned Margaret Brennan&#8217;s...</small></li>
<li><a href='http://steamcatapult.com/2011/08/14/a-record-week/' rel='bookmark' title='Permanent Link: A record week'>A record week</a> <small> A record week Last week was the best week...</small></li>
</ol>

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			<content:encoded><![CDATA[<p>Micro blogging is quicker than regular blogging, but tweets are also more ephemeral: it&#8217;s pretty common for someone to read a blog post you wrote a day or a week ago, but not so common for someone to read something you tweeted an hour ago. With that in mind, I&#8217;m going to start picking 10 or so tweets from the past week and highlighting them here. Some of these tweets I&#8217;m posting because they are insightful or witty in themselves, others because they include interesting links. </p>
<p>The plan is for this post to be the first in a weekly series. If you&#8217;re not familiar with Twitter, click on the clickable stuff in the embedded tweets below, and you&#8217;ll get the idea. </p>
<blockquote class="twitter-tweet"><p>I&#8217;m humbled by the work of all the charities I have thrown out envelopes from.</p>
<p>&mdash; Gary Janetti (@GaryJanetti) <a href="https://twitter.com/GaryJanetti/status/166290005151588352" data-datetime="2012-02-05T22:40:01+00:00">February 5, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>After 30 years of hustling, this guy turned $700 into billions. How he&#8217;d allocate a $1 million portfolio now: <a href="http://t.co/Uc8EwLwz" title="http://stks.co/2Gxf">stks.co/2Gxf</a> $$</p>
<p>&mdash; David Pinsen (@dpinsen) <a href="https://twitter.com/dpinsen/status/166677383796105217" data-datetime="2012-02-07T00:19:19+00:00">February 7, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>Lucy Kellaway rips $UBS on a particularly egregious bit of its corporate b.s.: <a href="http://t.co/dvuh6eRs" title="http://www.ft.com/cms/s/0/bae01b84-4cea-11e1-8741-00144feabdc0.html">ft.com/cms/s/0/bae01b…</a></p>
<p>&mdash; David Pinsen (@dpinsen) <a href="https://twitter.com/dpinsen/status/166721719527161857" data-datetime="2012-02-07T03:15:30+00:00">February 7, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>Hyperbole is worse than Hitler.</p>
<p>&mdash; Andy Levy (@andylevy) <a href="https://twitter.com/andylevy/status/167027446317719552" data-datetime="2012-02-07T23:30:21+00:00">February 7, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>Facebook graffiti artist might be richer than @<a href="https://twitter.com/mittromney">mittromney</a>. Stock v. cash: &#8220;Likes to gamble&#8221;; had faith in @<a href="https://twitter.com/sparker">sparker</a>. <a href="http://t.co/Bc3SjI8p" title="http://finance.yahoo.com/news/facebook-graffiti-artist-could-worth-220206017.html">finance.yahoo.com/news/facebook-…</a> $FB</p>
<p>&mdash; David Pinsen (@dpinsen) <a href="https://twitter.com/dpinsen/status/167052406696321024" data-datetime="2012-02-08T01:09:32+00:00">February 8, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>BREAKING: Ann Romney tells heckler, &#8220;My husband can&#8217;t f@*king throw the ball and catch it at the same time!&#8221;</p>
<p>&mdash; Philip Klein (@philipaklein) <a href="https://twitter.com/philipaklein/status/167129720897548290" data-datetime="2012-02-08T06:16:45+00:00">February 8, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>What I am told the female students at Cal Tech say of their situation: &#8220;The odds are good, but the goods are odd.&#8221; Love it.</p>
<p>&mdash; Charles Murray (@charlesmurray) <a href="https://twitter.com/charlesmurray/status/167759756742770689" data-datetime="2012-02-10T00:00:17+00:00">February 10, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet"><p>.@<a href="https://twitter.com/nytimeskrugman">nytimeskrugman</a> is a uniter! Here, 2 nemeses unite in disagreement w/ him: RT @<a href="https://twitter.com/bill_easterly">bill_easterly</a>: I agree with Jeff Sachs <a href="http://t.co/DKlf8KOn" title="http://bloom.bg/yMvu45">bloom.bg/yMvu45</a></p>
<p>&mdash; David Pinsen (@dpinsen) <a href="https://twitter.com/dpinsen/status/167870824672534528" data-datetime="2012-02-10T07:21:38+00:00">February 10, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet" data-in-reply-to="167888905545330688"><p>@<a href="https://twitter.com/dpinsen">dpinsen</a> I hate that. Manufacturing is key. Gotta fucking make something, not just sell worthless paper for Chinese poisoned toys.</p>
<p>&mdash; Charlie Crystle (@Ccrystle) <a href="https://twitter.com/Ccrystle/status/167918539720757248" data-datetime="2012-02-10T10:31:14+00:00">February 10, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>


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<li><a href='http://steamcatapult.com/2011/12/09/me-on-bloomberg-tv/' rel='bookmark' title='Permanent Link: Me on Bloomberg TV'>Me on Bloomberg TV</a> <small>Well, my tweet, actually. This one got mentioned Margaret Brennan&#8217;s...</small></li>
<li><a href='http://steamcatapult.com/2011/08/14/a-record-week/' rel='bookmark' title='Permanent Link: A record week'>A record week</a> <small> A record week Last week was the best week...</small></li>
</ol></p>
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		</item>
		<item>
		<title>Making Sense of Mandates</title>
		<link>http://steamcatapult.com/2012/01/27/mandates/</link>
		<comments>http://steamcatapult.com/2012/01/27/mandates/#comments</comments>
		<pubDate>Sat, 28 Jan 2012 00:19:16 +0000</pubDate>
		<dc:creator>David Pinsen</dc:creator>
				<category><![CDATA[Politics]]></category>
		<category><![CDATA[Barack Obama]]></category>
		<category><![CDATA[Mitt Romney]]></category>
		<category><![CDATA[Rick Santorum]]></category>

		<guid isPermaLink="false">http://steamcatapult.com/?p=2865</guid>
		<description><![CDATA[For the most part, I&#8217;ve avoided writing about politics on this blog, sharing my opinions instead in 140 character bursts on Twitter. But since tweets seem to be more ephemeral than blog posts, I&#8217;m preserving a few salient ones in amber by embedding them below. 
This exchange occurred during the second Florida GOP debate last [...]


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<li><a href='http://steamcatapult.com/2011/12/09/me-on-bloomberg-tv/' rel='bookmark' title='Permanent Link: Me on Bloomberg TV'>Me on Bloomberg TV</a> <small>Well, my tweet, actually. This one got mentioned Margaret Brennan&#8217;s...</small></li>
</ol>

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			<content:encoded><![CDATA[<p>For the most part, I&#8217;ve avoided writing about politics on this blog, sharing my opinions instead in 140 character bursts on Twitter. But since tweets seem to be more ephemeral than blog posts, I&#8217;m preserving a few salient ones in amber by embedding them below. </p>
<p>This exchange occurred during the second Florida GOP debate last night. Rick Santorum had just snapped at Mitt Romney over the mandate that Romney&#8217;s health care law in Massachusetts imposed (state residents either needed to buy health insurance, or pay a fee to help offset the cost of any care hospitals would be obligated to give them if they got sick or injured). </p>
<blockquote class="twitter-tweet tw-align-center"><p>@<a href="https://twitter.com/grivno">grivno</a> His essence is competence. Santorum&#8217;s is petulance. How do you prevent free riders without mandates?</p>
<p>— David Pinsen (@dpinsen) <a href="https://twitter.com/dpinsen/status/162720691769184256">January 27, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js"></script></p>
<blockquote class="twitter-tweet tw-align-center" data-in-reply-to="162721361901531137"><p>@<a href="https://twitter.com/grivno">grivno</a> That doesn&#8217;t prevent free riders, because those people will still get free care, by law, when they get sick.</p>
<p>&mdash; David Pinsen (@dpinsen) <a href="https://twitter.com/dpinsen/status/162723124108988418" data-datetime="2012-01-27T02:26:30+00:00">January 27, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<blockquote class="twitter-tweet tw-align-center" data-in-reply-to="162723529333288960"><p>@<a href="https://twitter.com/grivno">grivno</a> This isn&#8217;t Calcutta, we&#8217;re not going to let the sick die in the street without treatment. So everyone needs to pay into the system.</p>
<p>&mdash; David Pinsen (@dpinsen) <a href="https://twitter.com/dpinsen/status/162724574776139776" data-datetime="2012-01-27T02:32:16+00:00">January 27, 2012</a></p></blockquote>
<p><script src="//platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Since Bill Grivno&#8217;s preferred alternative &#8212; changing the law so hospitals can deny care to the indigent &#8212;  is well outside the <a href="http://en.wikipedia.org/wiki/Overton_window">Overton Window</a> in the US (and probably in every other first world country as well), attacking Mitt Romney for introducing mandates in Massachusetts seems pointless and counterproductive. I can see how it makes tactical sense to use the mandate issue to challenge the Constitutionality of Obama&#8217;s health care plan, in order to repeal it because of other, objectionable, aspects of it, but substantively, it&#8217;s hard to argue against the logic of a mandate to buy health insurance. </p>


<p>Related posts:<ol><li><a href='http://steamcatapult.com/2011/12/30/emergent-properties/' rel='bookmark' title='Permanent Link: Emergent Properties'>Emergent Properties</a> <small>Seeking Alpha published an article of mine touching on this...</small></li>
<li><a href='http://steamcatapult.com/2012/01/24/super-bowl-bound-promotion/' rel='bookmark' title='Permanent Link: Super Bowl-Bound Promotion'>Super Bowl-Bound Promotion</a> <small>Giants Raid San Francisco&#8230; Headed to Super Bowl XLVI #nyg...</small></li>
<li><a href='http://steamcatapult.com/2011/12/09/me-on-bloomberg-tv/' rel='bookmark' title='Permanent Link: Me on Bloomberg TV'>Me on Bloomberg TV</a> <small>Well, my tweet, actually. This one got mentioned Margaret Brennan&#8217;s...</small></li>
</ol></p>
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