The Secret Muslim Banker
@SecMuslimBanker
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Managing a $100m investment fund. Breaking down macroeconomics with Islamic finance. Sharing my journey and insights on creating a riba-free economy.
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Joined April 2023
It's been a while but here's a new article on sukuks. I learned a lot thanks to @SafdarAlam 's book and I wanted to share it with you all. The sukuk market, predicted to grow to more than $1trn this year, isn't so different from conventional bonds.
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This is a good take. Trump is great at using very simple negotiating tactics. He makes ludicrous demands where the other party is more willing to compromise with a second option that wouldn’t have been accepted if presented to begin with. You can think of it as political anchoring. The same way you can use anchoring to get a bette price for whatever you want to sell. Assume you’re willing to sell something for $100. Don’t offer it at that price. Offer it for $150 and the buyer will negotiate to $120. He leaves thinking he made a great deal because he’s using the $150 price tag as the anchor.
Don't imagine Trump as a 4D chess player. That's the wrong metaphor. Imagine him instead as a fencer. He has a sword, which is a very simple tool, with a very simple purpose: pointy end goes in the other guy. Then remember this Bruce Lee quote: "I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times." That's Trump. He uses very, very simple negotiating techniques. And he's very, very good at them. This particular move was a two-stage combo. Two very simple moves. 1. Habitually talk like you have an IQ of 95. Everything is either very bad, or tremendous. Every sentence structure is simple and straightforward. No philosophy, no reducing things to first principles, no complex analysis. Talk like a midwit so people think you are a midwit. 2. Door in the face technique. A compliance method so simple and well-known it has a wikipedia page. The door-in-the-face technique is a compliance method commonly studied in social psychology. The persuader attempts to convince the respondent to comply by making a large request that the respondent will most likely turn down, much like a metaphorical slamming of a door in the respondent's face. The respondent is then more likely to agree to a second, more reasonable request, than if that same request is made in isolation. Except Trump is so good at wielding this simple weapon that he doesn't need to make a second request. He just says a crazy thing, and everyone who's not paying attention believes he wants a crazy thing because they think he's a retard. Then they fall all over themselves trying to suggest a reasonable alternative, which ends up being pretty much the actual thing Trump wanted all along. It's that simple, he does it again and again, and it works again and again, because the people who hate him desperately want to think he's dumb. They succumb to the temptation of flattering their own egos instead of keeping their eyes on the prize. That makes them easy to manipulate.
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6. Keep promising you are close to AGI.
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RT @DrInsensitive: @ScottAdamsSays It certainly is in my field, Finance. Exotic derivatives exist mainly to extract commissions from MBAs t…
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It’s amazing how people freely share knowledge on here (if you follow the right people). For those interested in options, this is a brilliant thread explaining the issues with covered calls - selling call options on the asset you hold with a strike that is higher than the current price. I was super fond of derivatives early on in my career because there are so many variables to consider and it just felt like a massive puzzle to solve. Obviously options aren’t shariah-compliant although there are variations that can be used for hedging but illiquid and you couldn’t run the same strategy.
Okay this is a really fun one because it's really simple and very few people got it. h/t @Eric714 for the original conversation. Casually, it looks like the call overwrite strategy is outperforming throughout the sample, but this is a visual artifact of compounding. >>
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Matt Levine is too good
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@SameerA41115539 That’s different. Iddah is a period of waiting post-divorce before the woman can remarry.
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@itsmefge Most likely traders reacting to the tariff news over the weekend and the amount of leverage cascaded into a lot of liquidations. The markets tend to be less liquid on weekends too so easier for crypto to trade more violently.
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The US Treasury Secretary, Scott Bessent, recently "Tariffs can’t be inflationary because if the price of one thing goes up, unless you give people more money, then they have less money to spend on other things, so there is no net inflation.” But look at what he said not too long ago... Is this a case where his opinion changed because the facts changed or is this something else entirely? It's hard to get an honest analysis of tariffs from those supporting Trump it seems.
One year ago (almost to the day), Scott Bessent wrote to his investors: “Tariffs are inflationary and would strengthen the dollar—hardly a good starting point for a US industrial renaissance.” “The tariff gun will always be loaded and on the table but rarely discharged.”
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So the same people rooting for small government are also the ones rooting for tariffs... Do they actually believe this or is this cognitive dissonance because they voted for Trump?
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Never forget this text.
Forever haunted by this observation from Edward Bernays, the father of the public relations industry
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This should be plastered as a disclaimer all over Reddit, YouTube, TikTok and instagram.
Nobody who’s actually good at making money needs to sell you a course on it.
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