The Inversion Investor

The Inversion Investor

Markets Don’t Have Fixed Odds — And That’s Why Everyone Loses

Peter Pham's avatar
Peter Pham
Oct 02, 2025
∙ Paid

Every market participant knows price moves are uncertain. What most don’t see is that variance itself is the house edge.

Variance is the constant churn of outcomes: the random streaks, the outlier moves, the unexpected volatility.

Even if you have a good strategy, variance ensures you eventually encounter a sequence of losses that disrupts the equity curv…

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