Day

June 20, 2025
Lads, Lassies,It was an uneventful week in the midst of the tumult. The SPY closed down 0.4%, Nasdaq flat for the week. We managed a gain of 55bps, thanks in large part to better than market positioning. We still maintain a 9% notional hedge on the Qs, a bunch of oil, and lots of cash....
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