Dimitrios Kavvathas

Dimitrios Kavvathas

2,850 Twitter followers

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Father of 4, derivatives protocol founder, UChicago PhD, ex Goldman Sachs Partner, ex Macro PM; finance, mechanism design, sustainability & cliometrics

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Dimitrios Kavvathas

Watching Tesla price action after the fallout between MAGA faithful and techno-bro / DOGE contingent regarding legal immigration, this needs to be managed carefully from both sides and it can have repercussions for the digital asset initiatives; JD Vance will need to patch things

Dimitrios Kavvathas

Hyperliquid tension ( with confidence in the ability of the community to protect itself ) and Mt. Gox moving coins ( and CTAs selling + rates selling off in the ‘ real world ‘ ) vs seasonality; think seasonality wins

Dimitrios Kavvathas

New Head of Council of Economic Advisors, chatting on a crypto show 10 days before his appointment; one could say ‘ you are not bullish enough ‘. Being Roubini’s co-author and part tjme colleague at Hudson Bay may have been a red flag, but now the prophet of doom has undergone a

Tons of fun to talk with the crypto folks—lots of exciting stuff going on! Thanks for having me on, @timevalueofbtc x.com/thebitcoinlaye…

Dimitrios Kavvathas

Funding spreads down, dealer gamma down, vols up, Inauguration Day highest vol day now ( along with CPI and payrolls ), seasonality hasn’t finished, these are good sessions till year end

Dimitrios Kavvathas

Debt ceiling, ‘ policy mistake ‘ Powell trying to flex ahead of new administration, leverage being unwound and retail ( and institutional ) deleveraging, technical VIX spike; Christmas do have the tendency to attract volatility, but all is set up to bounce soon here with strong

Dimitrios Kavvathas

Dow longest losing streak since 1978 and let’s unpack. It is a price weighted, a relic of the past that makes it of interest only to press headlines; biggest constituents my alma mater, Goldman Sachs ( and December is the month ahead of striking stock based comp ) and UHG which

Dimitrios Kavvathas

Please check real economists’ history of the ‘ tulip mania ‘, not Kindleberger relying on McKay; there was derivatives trading on tulips, so leverage got taken out and volatility was exaggerated for effort, prices were much closer to perceptions of aesthetic value than thought

@joecarlsonshow

Reading about Tulip mania is wild. It seems crazy that people were willing to pay tens of thousands of dollars for something that has no particle use or intrinsic value. Who would pay so much for something where the only bull case for it is trying to convince the next guy to

Dimitrios Kavvathas

Belated reaction to MSTR inclusion and Bitcoin reserve headlines? I am more inclined to just go with the FOMC drift explanation; as per GS ‘ S&P from 1997 +717%, if you would exclude from data day before and after FOMC, S&P would trade at 2600 (!) today. 6% of trading days making

Dimitrios Kavvathas

@Dimitrios160174

Inclusion of MSTR into S&P500 80% believed informally from the below, which means as per risk neutral / empirical probability distinction probably 65/35 priced in. ~2bln of immediate tracking flows is a ‘ half weekend Saylor ‘, so not much immediately but hugely important long x.com/EricBalchunas/…

Dimitrios Kavvathas

S&P stock dispersion at 5y highs both across and within sectors + dealer gamma = realized vol very low, stir in some pre FOMC drift; what will stop markets this week post the gloomy Monday feeling ?

Dimitrios Kavvathas

U.S. vs European stock positioning at GS Prime Brokerage books at 2yr highs vs 2yr lows respectively both in terms of gross and net positioning; truflation back above 3%

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