Today is the 10th anniversary of Streetwise Professor. Hard to believe. What a long, strange trip it’s been.
I started the blog with the intent of focusing on topics directly related to my academic research on derivatives, commodities, and exchanges. I’ve done quite a bit of that, and indeed, blog posts were often the first draft of material that turned up in research papers, or at least, were a way of thinking out loud that shaped what later appeared in more formal work. But, of course, the range of topics I’ve written about has metastasized over the years. I never would have predicted when I first envisioned the blog that Russia would have consumed so much time and attention. And probably a good thing too, because that probably brought more traffic to SWP than any other single topic, and people who came here for my Russia rants stayed for other topics. But it’s not just Russia. I’ve written about politics (Thanks, Obama!), China, broader economic issues, history, military matters, climate change, sports and even punk rock. It’s my blog, and I’ll write what I want to.
2006 was a propitious time to start a blog, because the subsequent decade has been chock-full of history, especially in financial and commodity markets. The biggest financial crisis in recent history spawned a huge onslaught of regulation, which provided a lot of grist for my mill. (Thanks, Frankendodd!) Furthermore, the End of History that some forecast at the beginning of the 2000s definitely did not occur in the 2006-2016 decade. Indeed, the world has been as unsettled as in any decade since the 1930s. In 2009 or so, I wondered whether these times were more like the 30s or the 70s, and sadly, the former answer wins. But that has provided considerable material to work with.
In areas related to things I actually know something about–commodity prices, energy, speculation, manipulation, HFT, derivatives market regulation, and clearing–I think it’s fair to say that SWP has had some impact on policy, or at least the way people think about policy. I know that there are more than a few followers in the financial and legal community, and among regulators around the world.
Along the way I’ve made quite a few friends, for which I’m grateful. It has been gratifying over the years to have people approach me and mention this post or that. I have to confess that some people have remembered posts that I forgot writing 😉
I’ve also made a few enemies, for which I’m also grateful. It’s part of the way I know I’ve made an impact, but more importantly, I’ve made enemies mainly by calling out rather forcefully the frauds, follies, fecklessness–and fuck-ups–of those who presume to rule us. (I have it on very good authority, for instance, that I was banned from the CFTC building by Gensler.) Their anger is a sign that I’ve hit the mark.
I would like to extend my sincere appreciation to those who have read the blog, particularly those who have read it regularly over the years, and especially those hardy souls who have ventured into the comment section.
What will then next ten years bring? Since I was so mistaken in my expectations about SWP when I started, I will forego a prediction now, other than to say that I will go where the spirit leads me (recognizing that sometimes the spirit is an evil one :-P). I think eclecticism has worked, and I’ll keep it up.
Thanks again for reading, and I hope you stick around. I hope I give you reason to stick around.
PS. Talk about some sort of fate. I remember distinctly sitting in front of my computer ten years ago, wondering what to call this damn thing. Then this song played, and I knew immediately that Streetwise Professor was the perfect name. And what should begin playing on Pandora when I started the third paragraph? Yup. Lars Frederiksen and the Bastards, playing Streetwise Professor. Too funny.