Let me begin with saying that we don't publish here very often, for one specific reason. While other firms will flood their marketing channels with all kinds of content to stay top of mind with potential investors, we choose to speak only when we have something we feel is important to say, whether that's a piece of strategy research we want to share, an important paradigm shift we're seeing, or a big event in the market . We believe, and have a lot of evidence internally base

Thank you to Ethan Kho for having me on the Odds on Open podcast this week. Ethan and I get into a good discussion of the specific sources of alpha in our DeFi market neutral yield strategy, and our core thesis around why trend and momentum work in digital assets.

Prediction Markets and the Price of Boring Prediction markets are supposed to tell us what’s going to happen, though arguably they do a better job at telling us what the consensus expectation is. In practice, they mostly tell us what people want to bet on. We’ve spent a lot of time trading and studying prediction markets at Starkiller, in fact our Chief Investment Officer, Leigh Drogen, was the founder of Estimize, the largest corporate earnings prediction market in the world