Weekend Reads: XIV, Bitcoin, and the Olympics

Irma knocked 50 to 90 percent of Florida’s citrus fruit to the ground in some areas, according to the state commissioner of agriculture, Adam Putnam, causing $760 million in damage in the worst year for Florida oranges since 1945.

One-two punch of disease and Irma has left Florida citrus reeling – (NBC News)

 

Cancellations of export sales of 455,000 metric tons of soybeans for delivery to China during the 2017/2018 marketing year

Private Exporters Report Sales Activity for China and Unknown Destinations – (USDA)

 

“We contend that the liquidation of the VIX ETPs last week was not due solely to flaws in the design of these products, but instead was driven largely by a rampant manipulation of the VIX index,” according to the letter.

VIX Manipulation Costs Investors Billions, Whistle-Blower Says – (Bloomberg)

 

It turns out, Monday’s move in the VIX showed THE biggest outlier in this correlation back to 1990, with the VIX Index spiking 115% on just a -4% S&P 500 drop. To give you context, a typical 4% drop in the S&P results with a 30 or 35% spike in the VIX. Here’s it visualized:

The Chart Showing Why This VIX Move is Unique – (RCM’s Attain Alternatives Blog)

 

Non-commercial short contracts plunged by more than 40 percent to 172,440; long contracts increased by a much more mild 10 percent to 258,258.

Volatility’s Awakening Spurs Record Long Position in VIX Futures – (Investing)

 

Do you think an environment of higher volatility is good for volatility traders?

A Volatility Trader Explains What Happened – (RCM’s Attain Alternatives Blog)

 

These women didn’t just return to work — they came back to the highest level of a demanding sport, and all four are expected to compete in Pyeongchang. But Randall is doing so without the same safety net that her European colleagues have

What A Badass Olympic Skier Can Teach Us About Work-Life Balance – (FiveThirtyEight)

 

Vonn’s quest made us wonder: What would the Olympics look like if men and women skied against each other?

What If Men And Women Skied Against Each Other In The Olympics? – (FiveThirtyeight)

 

Is electricity consumption a problem? Probably the one that market solves

Bitcoin Mining Costs More Electricity Than Houses, But it’s a Non-Issue – (Coin Telegraph)

 

This interactive graphic is part of our project exploring the more than 33,000 annual gun deaths in America and what it would taketo bring that number down. See our stories on suicides among middle-age menhomicides of young black men and accidental deaths, or explore the menu for more coverage.

Gun Deaths in America — (FiveThirtyEight

 

Net demand for CTAs was highest among pension funds (29%) and private banks/wealth managers (21%), increasing from 17% compared to 12-month prior, but remains lowest among insurance companies (-7%).

Pension fund demand for CTAs rises, DB survey finds – (CTA Intelligence)

 

Cryptocurrencies and initial coin offerings are making headlines. What ICOs are, how they work, and what you need to know about these blockchain innovations.

Understanding the ICO (infographic) – (PWC)

 

24-year-old Chicago trader has been charged with fraud for allegedly stealing $2 million in bitcoin and another cryptocurrency from his employer to cover personal trading losses.

Chicago trader is accused of stealing $2 million in cryptocurrency in city’s first bitcoin fraud case – (Chicago Tribune)

 

“It’s not a proper investment vehicle,” Thiam said. “So we also said because of that, because the price can vary so brutally, the prospectus says that if the price goes down 80 percent, we can close it.”

Why Did XIV Implode – (RCM’s Attain Alternatives Blog)

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