Author Archives: april@madhedgefundtrader.com

A Cow-Based Economics Lesson

SOCIALISM You have 2 cows. You give one to your neighbor. COMMUNISM You have 2 cows. The State takes both and gives you some watered-down milk. FASCISM You have 2 cows. The State takes both and sells you some milk at an inflated price. NAZISM You have 2 cows. The State takes both and sends […]

The Biotech’s Orbituary Was Premature

Last Tuesday, while stuck in airport security behind a family debating whether insulin syringes count as “liquids,” I had an epiphany about Wall Street’s chronic inability to see past quarterly earnings reports. Here was life-saving biotechnology reduced to a TSA checkbox, while across the terminal, CNBC was breathlessly explaining why Amgen’s (AMGN) “patent cliff” makes […]

A Note on Assigned Options, or Options Called Away


Occasionally, I get a call from Concierge members asking what to do when their short positions in options were assigned or called away. The answer was very simple: fall down on your knees and thank your lucky stars. You have just made the maximum possible profit for your position instantly. We have the good fortune […]