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I completely agree. {edit} Should point out too that I wasn't claiming that my second strat has a 3.4 Sharpe. Only the first one. That is why the returns are so high. Interestingly, when the market went nuts last summer I had a +84% June which resulted in a lower Sharpe. {2nd edit}...

100% agree with what you are saying. But that doesn't negate my points either. I recently calculated my Sharpe (weekly returns) for 2010. Right around 3.4 if memory serves. And I have had offers recently to manage additional capital, even though I don't solicit funds. It just isn't worth it...

Yes, I said most.. not all. There are a few whom I know from personal association are the real deal. Two of them have left recently and don't come around anymore, as there is nothing here for them. Neither of them would even consider starting a fund. They just say it isn't worth it...

+1 Wasn't hard at all to get a couple hundred thousand in conventional debt at <10% interest a few years back. By the time I was thinking about starting a fund, the math never worked out. OTOH, I might consider starting a fund for my other strat that hits about 30% annual with much better...

You are acting as if I said that there was a cutoff at $30MM. That is not at all what I said. I said returns start to diminish after $8MM-ish. Anyway, I'm not talking about above average performance of 50% or something. I'm talking return around 400% annual. Any joker can raise a couple...

Why is it that Ben Bernanke always gets nailed to the wall and not one word is ever said about the guy who actually contributed more to this problem than any other individual on the planet, Mr. Greenspan.

Well, many of the absolute most successful traders aren't interested in OPM because they face scalability problems. It takes a couple years to get a good fund rolling along. During that time, their personal capital would've increased to the point that their strat has no more room for OPM...

I really was asking a serious question though. I wasn't trying to be facetious. I know there were several alternative fuel tax credits and things of that nature, but I think it is obvious that these have little discernible impact on the economic measures that were cited. So there was the...

I'm just wondering to which tax cuts are we referring? Are we talking about the Bush tax cuts that were simply not left to expire? I'm only aware of a single significant tax cut that can be attributed to Obama right now. The one year reduction in FICA tax. All other main provisions of...

Please don't take this the wrong way, but given your comments I think you're going to end up looking for another day job within 2 years of quitting your current one. Your mentality isn't conducive to successful day trading over the long-term. What is really so bad about working your job and...

I would wager my entire trading account that at least 9 of the 10 traders you know aren't beating the broader indexes each year. I'm not trying to be cynical, but I've been trading long enough and have had enough contact with several of the supposed successful members of this forum to know that...

A huge portion of the population looks at the current situation and realizes that Romney was in fact most equipped to handle the challenges of the current situation. He just wasn't likeable at the time.

No, in fact it is generally accepted fact that many players utilize such tools. Calculating odds can be done by a good player in his head on the flay. That isn't really unfair IMO. What is unfair is for 5 other players at a table to be in contact with each other sharing information about what...

I should've attached a better explanation, but I didn't. I wasn't referring to gambling in the classical sense of the word. IOW, to risk money on ANY outcome with ANY amount of uncertainty. This thread is specifically directed toward games with a net negative expectancy. That is, poker has...

Agree with what surf said for the most part, but would like to point out that for about 99% of traders, there will be no discernible difference between gambling and trading, because those traders are indeed gambling.

Same thing

Objectively speaking, it wouldn't really matter if certain info had been deleted and filler substituted in its place. There isn't any way they could eliminate the overall tone of trading style of PTJ. It is interesting to hear suggestions here and elsewhere that there is intentional...

The whole arena is hype anyway. Your biggest players in the poker world are miniscule in comparison to their counterparts in the trading world. I once enjoyed playing poker. Those days, not so coincidentally, correlated to my early trading days. As I slowly learned to trade profitably, I...

I was with you during the last election. At the time, he was the best man for the job. I was convinced of it then, and with 20/20 hindsight he still would've been the best of the legitimate candidates in '08. From what I gather, he has amassed a considerable amount of money for a 2012 run...

I like the fact that StockStalker brought up Neve's performance because it also demonstrates the other point nicely. At the end of last year Neve had $336,000 in his account. If he had worked a job just to make the bills during that time and only withdrawn taxes each year, he would've ended...