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Exactly right, in fact on most desks they piss away the profits made from ripping off customers on their own trading.

Me too its like living in the wild west or a completely new country, going to have bandits and all that but boy the future is so bright I gotta wear shades

I was listening with half an ear so I might be wrong but something to the effect that In certain stocks you want to buy when P/E's are high and not when they are low. Something about the cycle is about to turn down when P/E's are low. Also said something about rather look at the price...

The guy who published the paper in question raised a very interesting point on the Wilmott forum. If you have a stochastic volatility model how do you estimate the parameters. He set up a challenge generated 5000 numbers from a very popular stochastic vol model and challenged people to tell...

Mark it at what ever preserves or gives me the biggest bonus :D

I don't get it?

When I realised that I had it backwards it was too late to edit.

Christ that is bad :eek: Sure we will hear in next few weeks. Might be oppurtunities if they are forced to liquidate

Nine years is a long time to sit with Bubba:D

Thanks

Is there a span calculator available on the net That I can use to calculate margin requirements for EUREX options trades?

Okay that appears to be a huge spread. Short LQD and go long IEF?:confused:

I am gonna do the first one I want some high class strippers:D :D

Yes, I must admit I find this medium a bit difficult. It was a bit of a strange sentence. I am very sceptical of anyone who thinks that they can trade something that they can't measure. Or you have exstreme difficultly measuring. Perhaps we should just accept that it doesn't exist in any...

:confused:

Thanks great explanation. Yeez to me you need to estimate correlations in an extreme environment. Basically you are on the tail of the distribution. Very little data out there. Now are any corporate debt names trading at stupid levels as a result of the unwindings. Could be some good...

Don't mean to damn the mathematical approach. Just too much reliance on it. Thats all. Corr is exstremely volatile. I have doubts whether something so unstable exists.

I really laughed at the comment about IV being 15% or 30%. I take your point about about some many variable. If you ask me IMHO there is not enough data to estimate correlations. The correct mathematical place to look is into the theory of copula's. I am extremely skeptical of pure...

I think that if hedge funds or whoever is taking pain then when they start unwinding spreads shoot out and thats normally the best time to put those exact trades on?:D

In my previous life I was a quant/trader at a bank. I love the idea of credit derivatives but thought it was difficult to trade on a small balance sheet. With the start of these credit indices I thought maybe just maybe they would be listed on something like CBOT, CME DTB?