What I’ve been reading and listening to in the trading and finance space:
House Money and the Break-even Effect:
Imagine that you are attending a convention in Las Vegas, and you walk into a casino. While passing the slot machines, you put a quarter into one machine and, surprisingly, you win $100. Now what? Will your gambling behavior for the rest of the evening be altered? Might you make a few more serious wagers, even if you usually abstain? Suppose instead that you had $100 in cash stolen from your wallet while taking a swim at the pool. How will that alter your behavior?
Macrodesiac (David Belle) talks to Macrohedged about market making, getting to the truth about the role of the market maker and squashing the myths that appear on social media.