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That's the second book. I'd recommend you read "Volatility Trading" first. EDIT: seems like my understanding is different to that of drm7. I read them in order.

Do you want me to answer this question or do you wanna first try answering it yourself? Assume you buy a bond at time T and then just think what happens to the value of your position at time T+1 (assume no financing costs).

Some more: - bwolinsky doesn't do backtests. His tests are always forward. - bwolinsky's strategies don't have profit factors, 'cause he keeps getting "#DIV/0!" in Excel. - bwolinsky's trades don't have stops. The mkt stops itself out in fear rather than go against bwolinsky.

That's yield, not total return...

Ha! You seem to have forgotten that Bwol is a genius... Armed with his minor in Mathematics, a perfect understanding of Nash's Equilibrium and topology, he can produce you the Higgs boson in a matter of picoseconds. In fact, I propose a welcome innovation on this thread. I think a...

Huh?

OKI-DOKI... My read of it is quite a bit different, but that's fine.

Well, that's true, but then the EMU isn't as mature a ccy union as the US, so one shouldn't expect its institutions to be as efficient. I don't know about your other point. Could be, but I have no way of knowing whether it's the case or not. Indeed, although I'd like to point out that the...

What's more, you're an incredibly modest genius, for whom shameless self-promotion is totally off limits... If only we had more geniuses (genii?) like you.

But how is that different from the massive Federal bureaucracy in the US that exists above and beyond the already massive bureaucracies of the individual states? Or the massive bureaucracy of Her Majesty's govt that exists on top of the already massive local bureaucracies of Northern Ireland...

This is pretty silly, IMHO. What does the abuse of power and position have to do with the Euro specifically? The UK has had a massive scandal related to MPs abusing the expenses policies and the UK isn't part of the Euro. And what about the recent discussions arnd the members of Congress...

The goals of every currency union in history are always political. Some work out (US), while others don't (Austro-Hungarian Empire). Not clear what happens with Europe, but I hope they find a way.

Sorry, just one minor question, if I may... How does one get to be "a bit of a savant"? Is that sorta like being "a bit pregnant"?

I have yet to see a fund that's not focused on the mark-to-mkt :).

No, I don't... Care to enlighten me?

"Commodity futures swaptions", "FRA/OIS swaps"... Haha, this sh1t is priceless! The whole article is just special...

WOW! Just ... WOW.

I second this recommendation... Both books by Sinclair are very useful.

Hmmm, must be some sort of a US thing... Been a total sausage-fest on our end, for as far back as I can remember.

Whatever makes you think that the BBG sales rep will have a slightest clue? Emphatically not the case, in my experience.