Poet, Rebel, Astronomer

A Scientific Genius You May Not Know… [Morning Reckoning] March 07, 2024 [WEBSITE]( | [UNSUBSCRIBE]( Poet, Rebel, Astronomer Asti, Northern Italy March 07, 2024 [Sean Ring] SEAN RING Good morning Reader, I’m writing from Riyadh, Saudi Arabia, but I didn’t have enough time to explore the city and report back to you. I’m very sorry about that! Fifteen years ago, life as a financial trainer was much different. The trips were longer, at fancier hotels and better paid. And as a single man, I had time to read. Now, it’s in and out, flying economy, with no time to enjoy the place. Thinking back to my more luxurious travels to the Arabian peninsula, I remember reading a book about one of my heroes. His name is Omar Khayyam. It’s a name that usually conjures images of Persian gardens, existential musings under starlit skies, and elaborate mathematical treatises. Khayyam remains one of the most intriguing figures in the annals of history. Born on May 18, 1048, in Nishapur, in present-day Iran, Khayyam was not only a distinguished poet but also a mathematician, philosopher and astronomer whose works have left an indelible mark on the world. This essay aims to weave together the threads of his poetic and mathematical achievements, drawing upon insights and remarks from Hazhir Teimourian's seminal work, Omar Khayyam: Poet, Rebel, Astronomer, which I thoroughly enjoyed. Khayyam's mathematical genius was evident early in his career. He made significant contributions to the understanding of the parallel postulate in Euclidean geometry, laying the groundwork for non-Euclidean geometry. Moreover, his work on algebra, particularly on the classification and solution of cubic equations, demonstrated his profound analytical skills. His treatise on algebra was among the most essential works in the field until the Renaissance, showcasing methods for solving cubic equations by intersecting conics. However, perhaps in his astronomical endeavors, Khayyam's blend of mathematical prowess and philosophical insight shines brightest. Appointed as the head of a commission to reform the calendar, Khayyam calculated the length of the year as 365.24219858156 days, a measurement remarkably close to the modern value. This reform resulted in the Jalali calendar, which was more accurate than the Gregorian calendar introduced almost five centuries later. This accomplishment underscores Khayyam's mathematical brilliance and his dedication to practically applying this knowledge. Turning to Khayyam's literary contributions, his Rubaiyat (quatrains) occupy a special place in world literature. Through Edward FitzGerald's English translations in the 19th century, Khayyam's poetry gained widespread acclaim, captivating audiences with its blend of melancholy, existential reflection, and sublime resignation to fate. The Rubaiyat contemplates the mysteries of existence, the fleeting nature of life, and the pursuit of happiness within the constraints of an unpredictable world. Khayyam muses on the human condition, urging readers to cherish the present moment amidst the impermanence of life: [March 13: The EXACT DAY crypto jumps “THE CHASM”?]( [Click here to learn more]( This is the technology adoption curve. And when it comes to investing, you want to be on the left side of “The Chasm.” Only 5% of people own crypto so far - meaning you still have a chance to be an early adopter… But that window is closing on March 13 th at 8:55 am EST, and it’s crucial that you get in BEFORE that happens. [Click here immediately for everything you need to know.]( [LEARN MORE]( "A Book of Verses underneath the Bough, A Jug of Wine, a Loaf of Bread—and Thou Beside me singing in the Wilderness— Oh, Wilderness were Paradise enow!" These lines encapsulate the essence of Khayyam's philosophical outlook—a celebration of life's simple pleasures, an acknowledgment of life's transient beauty, and a contemplation of the universe's vast, unknowable mysteries. Teimourian's Omar Khayyam: Poet, Rebel, Astronomer provides a nuanced exploration of Khayyam's life and works, highlighting his rebellious spirit against the dogmas of his time. Khayyam's skepticism of religious orthodoxy and his questioning of life's meaning reflect a profound intellectual independence. Teimourian portrays Khayyam as a polymath and a human being grappling with the fundamental questions of existence, driven by an insatiable quest for knowledge and understanding. Moreover, Teimourian delves into Khayyam's impact on both Eastern and Western cultures, illustrating how his work transcends geographical and temporal boundaries. The Rubaiyat's themes of existential inquiry, celebration of the present, and contemplation of nature's beauty resonate universally, contributing to Khayyam's enduring legacy as a poet. Meanwhile, his mathematical and astronomical achievements highlight his role as a pioneer, whose ideas paved the way for future generations of scientists and thinkers. Examining Khayyam's life and work reveals that his contributions cannot be confined to a single domain. His poetry, suffused with philosophical depth, complements his scientific rigor, offering a holistic view of a man who sought to understand the world in all its complexity. Khayyam's ability to navigate between the worlds of art and science with equal prowess is a testament to his extraordinary intellect and spirit. Teimourian's book sheds light on Khayyam as a figure who, in many ways, was ahead of his time. Challenging societal norms, questioning existential truths, and advancing scientific knowledge, Khayyam embodied the quintessential Renaissance man long before the Renaissance. His work invites readers and scholars to reconsider the boundaries between science, philosophy, and poetry, suggesting that proper understanding arises from integrating diverse realms of knowledge. Wrap Up In conclusion, Omar Khayyam's legacy is one of extraordinary breadth and depth, encompassing groundbreaking contributions to mathematics and astronomy, alongside a poetic oeuvre that continues to inspire and intrigue. Through Hazhir Teimourian's insightful analysis in Omar Khayyam: Poet, Rebel, Astronomer, readers gain a more comprehensive understanding of Khayyam's life as a testament to the power of human intellect and creativity. As we navigate the complexities of the modern world, Khayyam's work remains a beacon of enlightenment, urging us to seek knowledge, cherish the moment, and ponder the mysteries of existence with open minds and hearts. Khayyam's life and legacy serve as a powerful reminder of the enduring impact of a curious and open-minded approach to the world. All the best, [Sean Ring] Sean Ring Contributing Editor, The Morning Reckoning feedback@dailyreckoning.com X (formerly Twitter): [@seaniechaos]( [A.I. 2.0 to Open a Brief "Wealth Window"?]( [Click here to learn more]( Genius investor James Altucher is predicting a new generation of A.I. will create a brief "wealth window" in America. It could make crypto look like pocket change . [Click here now for more details]( . [LEARN MORE]( In Case You Missed It… The “Uncle Indicator” Screams Sell!? Greg Guenthner, Editor [Greg Guenthner] GREG GUENTHNER Good Morning Reader, The bears are giving up. No one’s betting against the raging rally anymore as the mega-cap tech leaders continue to climb to new highs. The YOLO crew is back to making huge, bullish bets on earnings and loading up on speculative options buys. As stocks continue to squeeze higher, these speculators are cashing in on their wild, out-of-the money calls. Let the good times roll! Just how frothy is it getting out there? For starters, the put/call ratio is hitting extreme levels. The folks at Barchart noted that on March 1, the total put/call ratio dropped to its lowest level since late 2021. In other words, no one is paying for downside protection. The stocks only go up mentality is back with a vengeance as speculators flood back into their favorite trade – semiconductors, tech-growth stocks, and crypto. Even worse, I’m hearing stories left and right about everyone’s personal contra-friend calling them up and asking about the latest semiconductor that’s going parabolic… That’s another uncle indicator flashing bright red. The previous cycle’s biggest bagholders are back to revenge-trade their favorite stocks and alt-coins. But before you log onto your brokerage account and short every high-flying stock in sight, it’s important I mention that we’re probably not headed for a nasty crash. Sure, some of these ridiculous rallies could use a hard reset. But we’re probably too early in the bull market cycle for a catastrophic plunge. Too many stocks are exhibiting strength, and the list of names making new lows is virtually nonexistent. Market breadth simply isn’t an issue right now. Typically, fewer and fewer leading stocks will prop up a bull market that’s on its last legs. Today, we’re seeing the exact opposite: more stocks joining the party and rallying along with NVDA and the other high-profile leaders. Instead of an impending crash due to a top-heavy market, we’re seeing the beginnings of a rotation away from mega-caps into tech laggards and small-cap stocks – a rotation that has become more pronounced over the past week. Anatomy of a Rotation It hasn’t been perfect. But after a few false starts, this bull market rotation is materializing. During these rotation events, the market’s strongest stocks consolidate or retreat as other stocks and sectors begin to outperform and take on new leadership roles. If you learn how to spot and take advantage of these rotations, you’ll find that you can grab onto emerging trends and ride them to fresh highs as they begin to dominate the market. The next rotation will begin with a much-needed reset of the mega-cap stocks – names like NVIDIA Corp. (NVDA), Microsoft Corp. (MSFT), and Meta Platforms Inc. (META) will stop going up every single day. Yes, a few of these stocks – most notably Tesla Inc. (TSLA), Apple Inc. (AAPL) and Alphabet Inc. (GOOG) – have already started to fade from their highs. But the other leading mega-caps haven’t lost a step this year. They’ve shrugged off extreme overbought conditions and continue to surge higher. I’ve been chirping about these soaring market leaders since late last year – watching and waiting for a hard reset that has yet to materialize. And I’m not the only one talking about this top-heavy market. Nearly every major analyst has mentioned the dominant mega-caps as a potential concern going back to early 2023. But the stock market doesn’t care what anyone thinks. I told you in December that I did not believe the leading mega-caps were going to experience the same level of market domination in 2024. NVDA probably isn’t going to rally another 250%, I noted, adding that the stock probably won’t crash, yet would fall short of its historic 2023 performance. Yet here we are – just two full months into the year and NVDA has already gained almost 70%. If you were around in 1999-2000, this mad dash for tech might look familiar. But you don’t even have to look back 25 years to find similar conditions. If you were paying attention during the Covid Bubble in early 2021, you can probably spot the similarities. Not only would a rotation into different leadership allow these out-of-control shares to chill out for a bit – it would also be incredibly healthy for the market at-large. Where Does the Hot Money Go Next? When the streaking semis finally get doused with a bucket of cold water, which stocks could pick up the baton and start running? You don't have to blindly guess where the gains will come from – because we’re already seeing key breakouts emerge in some forgotten corners of the market. Just look at small-caps… The Russell 2000 has snapped out of its stupor and broken above its December highs following a rocky start to 2024. It’s now green on the year and working on playing catch-up with the major averages: Keep in mind, the Russell 2000 has grossly underperformed the major averages for nearly two years. The Russell was hit hard by the regional banking crisis in early 2023. It also failed to rally with the major averages into the summer months, leading to a hard reset that lasted from August through October. Most mega-caps were stable during this period while smaller names took a beating, acting as a safe haven for investors worried about the potential for a bigger drawdown heading into the fourth quarter. When the big move lower failed to materialize and the melt-up rally ignited, the Russell flipped its switch and posted a 20% move off its lows. Now, IWM has completed a base breakout and is just a few bucks away from new two-year highs, erasing much of its bear market drawdown. If the rotation theme continues to play out, we could see the smaller stocks outpace the big boys – even as the major averages take a break. Small-caps aren’t the only rotation stocks in play this week. Gold is breaking out… Energy is heating up, too… You don’t have to chase big tech to find great trades in this market. Just keep an eye on the charts and try your best to suppress the FOMO as the semis fly directly into the sun. Best, [Greg Guenthner] Greg Guenthner Contributing Editor, Morning Reckoning feedback@dailyreckoning.com Thank you for reading The Morning Reckoning! We greatly value your questions and comments. Please send all feedback to [feedback@dailyreckoning.com.](mailto:dr@dailyreckoning.com) [Sean Ring] [Sean Ring, CAIA, FRM and CMT]( is a former banker and financial educator and is the editor of the Rude Awakening. Sean has trained interns and graduates from Goldman Sachs, Morgan Stanley, Citi, Bank of America, Standard Chartered Bank, DBS (Singapore), the Abu Dhabi Investment Authority (ADIA), Bank Indonesia (the central bank), HSBC, Barclays, RBS, and BlackRock. He knows the global economy is being corrupted by forces that most people can't understand and has used his unique and worldly experiences to help people navigate the markets. [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2024 Paradigm Press, LLC. 1001 Cathedral Street, Baltimore, MD 21201. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your The Daily Reckoning e-mail subscription and associated external offers sent from The Daily Reckoning, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@dailyreckoning.com. 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