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DE Shaw is a great shop. I wish I could get as a gig there, even if it was only for a year or so...

Each half of americans blames the other for the current American crisis. The regulationists blame the culture of mercenary capitalism that reigned for a decade or two (allowing for fabulous wealth creation for those smart (& lucky) enough to execute on it, btw). The free marketeers blame all the...

I think this has been obvious since the announcement of the PPIP. However, given that the public doesn't even understand a retention contract, what are the odds that they'll trip to this and scream foul? pretty low, imo. And really, it's not any different from Farm subsidies or any other...

ok, so he's got a pretty good story too. He's actually a couple of years younger than I am... :sigh:

Who is your favorite billionaire? Pickens?

good stuff. thanks for posting.

I've read reports here and there suggesting that C and BoA (and others) are buying all they can get their hands on for .30, if for no other reason than to sell them to an SIV at .85, in "partnership" with the Treasury and the Fed backstopping all the downside.

I want to understand the practical application of fundamentals. I conceptually inderstand fundamentals, but am interested in how fundamental traders apply them to their trades, especially when there are assets involved. Thx

Thx guys. Will look for them.

people will gravitate towards better value. Hyundai has improved leaps and bounds when it comes to quality and product sophistication. I get Hyundai loaners from the dealer when I get my car worked on, and some of them are excellent for the price, especially their "luxury" models like...

In totality I think zerohedge is saying that AIG, knowing they'd get more bail-out $ anyway, unwound large positions at a significant loss to several large banks. But were these losses that they would have to realize anyway one day or another, or are they just throwing money away (i.e...

I would like to understand this a little better: "As these trades are unwound, the correlation desk needs to unwind the single name risk through the single name desks - effectively the AIG-FP unwinds caused massive single name protection buying. This caused single name credit to massively...

I wonder what Wagoner's exit package is.

Can anyone recommend some good reading about trading Gas, Power and/or crude? I've read and re-read Fletcher Sturm's "Trading Natural Gas," and think much of it sunk in. I've printed and read almost all of the training material the NYMEX offers, and much of it has sunk in. I work for an...

It's a distinct possibility. Maybe I should even say "highly likely." What the videos leave out is some banks buying other banks' assets (likely with TARP $) to treat them in this manner (i.e. buy for 30%, sell to SIV for 80%+, split "profits" with treasury, let SIV's fail and leave Fed...

Don't forget what's-her-name... the home decor queen that went to jail over $46k of Imclone stock... That amazingly earthshaking conviction should silence all the doubters.

love it. +1

guess they forgot to buy their CDS's. If they had they could get even more taxpayer $$$

can you enlighten us?

how do their auctions work? I guess they offer them at a certain rate??? If the auction determined the rate, for sure they would all get covered. What I mean is if the rate starts low and increases until there are bids, and keeps rising untill the offering is exhausted, there's no way...