Stone Ridge 2025 Investor Letter
https://www.stoneridgeam.com/insights/stone-ridge-2025-investor-letter
Happy new year nostr!
“Good luck is coming your way.”
— fortune cookie
Man sandwich.
Steve’s Lava chicken.
Hhmmm.
Chicken Jockey.
Savor every last drop. Don’t move on. Feel yourself breathing.
nostr:nprofile1qqswmnfq2k830kvnylvyrezc97dsqce343qppqrwlgpqaux5qpuwdkspzfmhxue69uhk7enxvd5xz6tw9ec82csprpmhxue69uhhyetvv9ujuumwdae8gtnnda3kjctvmr90hw Looking forward to reading your book. Jeffery D’s review pushed me over to actually ordering it.
X: jeffdespommier
Pre-game bricks from Harden.
https://blossom.primal.net/1149b5c1d48ace7dfd09d80aa60872d4d16f86a9a2c3c611859204bcf09022cb.mov
Wow! What a game. All the way to the last 3 seconds.
Pre-game bricks from Harden.
https://blossom.primal.net/1149b5c1d48ace7dfd09d80aa60872d4d16f86a9a2c3c611859204bcf09022cb.mov
Let’s go Wolves!
Playing as a team. Too many turnovers by the Sun’s early on. Wolves only scored on half of them.
Tied up.
💯
I’ve been trying to go to bed since the end of the 2nd. Can’t. Such a good game.
One year later. BTC has zero gains in dollar terms. Pretty wild 2025.
Low ~$78k.
High ~ 125k.
200 day rolling average is ~109k.
A model (hypothetical): BTC will do a 30% gain per year (given a duration of 3-5 years).
Currently we are up ~ 420% over the last five years = 37.9% average yearly return.
If we see growth of 30% /yr over the next 5 years, we’d double twice. At ~100k today that’d be ~400k in 5 years. At $78k (low of 2025) a twice double is ~ $275k.
So is BTC expensive right now?
Best I can figure is that 91k is a fair value. At ~$65k per BTC it would be a better value. Suppose then $40k is extreme value.
🤷🏻♂️
How are you thinking of fair value for BTC?
Let us know in the comments.
Duration & Expectations. Manage these and generally be at peace.
That and, some folks only buy dips. This is for them. Me? I buy tops.
You should be able to open the door to another dimension — look around maybe by the garden or the mailbox. I’ve seen this also work with Olive Garden’s.
Just arrived. Thanks nostr:nprofile1qqs2meaqc6kv5z2utvm03reqzcauekjdj7c8r39verlr98w8ynhv37cpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq3camnwvaz7tmwdaehgu3dwfjkccte9emkcann9eehqctrv55g9jy0
Recently set up a daily (in addition to long standing weekly) corn buy. 🔸
Ask me anything.
What to do until you get there?
Just be.
I like you Charlie.
Extreme ironing is easily one of the weirdest sports in the world. Practitioners of extreme ironing take their ironing boards to remote locations and iron clothes.
While it is classed as a sport due to its athletic nature, extreme ironing is more of an exhibition than a competitive sport.
