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I am happy that despite the chemo, there is some growth in me these days...

Thanks. I see. What about my attempts at posting - would they be considered 'trolling' since they do not directly answer the original posters question? It must be a FAQ, though :)

Which traders make 100K?

I am rather new to the forum lingo - does "Trolling" refer to what I just did or does it refer to the misfortunate author of the thread?

Which reminds me - I am planning to write a book "Complicated Things for Dummies". This book would cover all advanced topics out there and will prevent further appearance of "For Dummies" books

Same here (PhD and whole works) - but we (especially the ex-quants among us) know that math and trading are enemies...Let's comit suicide, then? :D

I hate to interrupt this discussion, but who needs quants anyway? Why would you want an arrogant PhD to give you advice about things that they know nothing about? Let's kill all the quants ...:D

Well, the fact that they are well known does not make them public. The only public figures are that of upper management. as i said before, a famous options guy told me he didn't know of any retail customer consistently making money from options. Fully agree with you. at any rate...

There are two reasons not to talk about your returns: a) "Art of war" kind of thing - if you are weak, it's better to be percieved strong, if you are strong, it's better to be percieved weak. So, nobody actually gives the numbers, however it's a pretty solid indication that someone is not...

Is'nt it good to be sick - I can sit and chat on the internet without a worry in the world. In any case, I meant to say that I have yet to hear anyone making serious money (we are not talking 100K a year) trading their OWN money. As soon as someone opens a hedge fund - well, they are most...

"Are you making any money? How much?" No institutional trader that I know will ever ever ever answer this question straight. These days, I say "well, I am making enough to cover the hospital bills and I certainly have enough saved to cover the funeral". OTC derivatives traders do make money...

If you know how to price them - there are many opportunities. However, do not forget that these are multi-day high cap strategies. I can send you a literature list if you want to learn more about convertibles/exchangeables.

Thanks a 10^6. Aside from the constant pain, it is a nice experience - I get to sleep late and do close to nothing the whole day. Plus, if I was not where I am, it is not likley I would be posting anything here :). Thanks again. Aha, now we talking. The problem was not the strategy, it's...

I think that quant traders recognize the limits of the methodology quite well - otherwise there would be no new work done in that field. All that was said about LTCM, you have to admit that if they were a bit less leveraged they would have made a killing over the last couple of years if their...

Oh, "in my book" meaning my portfolio :) As for writing, the papers that I did write are of no use to anyone that does not trade exotics, it's the "obscure quant stuff". You are right - RM's should be more adept at what they do. Even though some more recent encounters with RM's were better...

Well, fancy PhD is not a bad thing in itself - I got one too. The issue here was that in my mind the best RM's are ex-traders that know the instruments and markets. In real life, they are not getting enough to attaract ex-traders. Some RM's are pretty good, though - I had one that would...

Get a hang of the following story: Part 1, Tragedy: A new OTC step-up cap trade is consumated, where if the LIBOR rate goes above X, the seller pays LIBOR+50bp, on a notional of, let's say 100M. The cap's strike is set ATM. The trade description is taken to the risk manager, who has to OK it...

Well, the simplest example would be buying an option on a correlated basket and selling options on individual equities. If the timing is good, it is a pretty way to make a buck. I have done something like that with swaptions, a bit different though. There are numerous strategies like these. I...

Is anyone privately trading these? In general, is anyone doing any option-based correlation arb? Correlation arb is a pretty popular institutional strategy.

Well, from your nick I would think that you know what convexity and convexity adjustment is :) BTW, what kinds of bonds? anyway, all I wanted to say is that there is no real comparison between the two groups - there is a big difference between filling a clients order (and plenty of clients do...