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Culture War Roundup for the week of January 6, 2025

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I mean, UPRO has outperformed SPY going on decades now...

That's only because SPX has been getting artificially juiced and prevented by the FED from falling since the financial crisis (note that UPRO was inaugurated in 2009 so all graphs for it start after then). Of course the leveraged strategy overperforms when there's a big force preventing the underlying from naturally correcting. I don't think the Argentinian market has a similarly strong backer for it, and anyways if the Argentinian equivalent of the fed tried to do something like this their economy would shit the bed and then interest rate you'd need to pay to afford 3x leverage would likely wipe out any gains (not to even factor in currency depreciation since presumably you care about USD performance rather than in pesos).

Sounds like a frustrated bear excuse, my guy. If the government’s holding the line, it’d be stupid not to leverage. It makes no difference whether it is naturally a good strategy, or if the government is artificially propping it up. It has been working for 16 years, so you can’t use it as an example of a strategy that’s likely to fail on a 2 year timeframe.