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Thanks for another excellent week. I'm not looking forward to getting to the end. But despite being a complete idiot, I am wondering about a couple points you make.

1. "You can only make 100%". Two part question:

1a. I don't understand this oft repeated bit of wisdom. When a long position goes your way, your position size grows, but when a short goes your way, the position size shrinks. For a fair comparison, shouldn't you add to your short as it falls? Even if you just top up to your original position size and don't grow it a la a long, you can make far more than 100%. I know the dark side has its own special risks and you may not think this is a great idea, but I still suggest saying you can only make 100% is misleading.

1b. Say I short TSLA at $200 and cover at $100. What is my percentage gain? I didn't actually put up any capital (I have plenty of unused margin) so my denominator is zero and I made infinite percent - let's see you do that with a long! Joking of course, but what is my denominator? If my stop is set at $250, could my denominator be $50? If so, I just made 200%.

2. You state shorts are negative carry, sounding like it is some great truth engraved in a burial chamber in an Egyptian pyramid. But in my short trading career, that is not my experience. Today if I short TSLA, I pay a 0.25% borrow, pay no dividends in lieu, and receive 4.58% in interest from my broker on the proceeds of my short. So a TSLA short is actually a positive carry to the tune of 4.28%.

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