For the 20th birthday of the book's publication, there was an article in the Guardian that ended on this beautiful quote that captured the experience of reading the book perfectly for me:
"
It’ll be a slog, but around the point where it starts making sense, you will read these words:
'But you never know when the magic will descend on you. You never know when the grooves will open up. And once the magic descends you don’t want to change even the smallest detail. You don’t know what concordance of factors and variables yields that calibrated can’t-miss feeling, and you don’t want to soil the magic by trying to figure it out, but you don’t want to change your grip, your stick, your side of the court, your angle of incidence to the sun.'
"
One other point that I don't understand well with SPACs warrants.
Once the merger has completed, it doesn't seem like the warrant price really tracks the underlying stock with weird situations where the warrant is priced below intrinsic value. Is there a straight arbitrage to make there or am I missing something?
Not sure I understand what you mean at the end of your comment. If you sell the warrant, you no longer hold the option to buy the underlying stock, do you?
" It’ll be a slog, but around the point where it starts making sense, you will read these words:
'But you never know when the magic will descend on you. You never know when the grooves will open up. And once the magic descends you don’t want to change even the smallest detail. You don’t know what concordance of factors and variables yields that calibrated can’t-miss feeling, and you don’t want to soil the magic by trying to figure it out, but you don’t want to change your grip, your stick, your side of the court, your angle of incidence to the sun.' "