Gm nostriches, Always a treat, both the stone ridge investor letter and
@Guy Swann ‘s take on it afterwards.
A great reminder that I’d made a reference that was clearly missing a footnote to solidify the connection with a letter from a couple of years ago (that made me cry, what ever, you’re crying). Very minor edits for getting a paperback edition out yesterday (removed the reference to Dug, my opsec is shit, but best keep somethings private), and then getting back into more serious revisions for edition 2. Hold onto your hats freaks, I have a slightly better idea of how the bond market works, so it’s gone from a dry read to positively arid!
Bitcoin Audible • Read_925 - Stone Ridge 2025 Investor Letter • Listen on Fountain
