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It was a different time, though. Trading in the pit required a different skillset and most of those guys failed once the markets went electronic.

I don't gamble, I trade!

Are your options snapped at the cash close (16:00) or at futures settlement (16:15)?

Are you discriminating against zombies now? We are just like people, except we consume less resources

Oh! “I trade fucking size!”

There is an old VXO dataset going back to 1986. On 10/19/1987 is closed at 150 and some pennies.

Never underestimate the limits of human stupidity

yes!

What exactly makes someone "the top day trader in the world"? Is that an official title, like an F1 World Champion?

I am merely pointing out that you probably have not read the original papers. Instead, it's very likely that you are parroting some idiot on the internet who did not either. Anyways, I barely skimmed it, and it's hard to give a specific opinion without carefully reading the article itself...

The problem is that given the alternatives (high deflation vs high inflation), we at least have an idea on how to deal with inflation. In either case, we are probably not looking at true hyperinflation (which is usually a product of very specific actions by the government) but rather a high...

Did you read the abstract, at least?

Depending on when that was, it could have been interest rates.

For me, even now, stuff like unemployment figures is an abstract number. I would imagine, with employees actually dependent on you it's a very different feeling.

Yup. I was there :) scary times but now is probably scarier

So that’s just above the minimum wage in the NYC, right?

You have to be a chartered bank for that (not even a BD entity which some funds have), so that has to be false.

Do you see anyone getting bailed out? A lot of funds made wrong bets and lost money. Some were able to hold onto these positions while the Fed was fixing liquidity for systemically important participants (banks). Some had to shut down. Bigger funds tend to have lower leverage simply because they...

The purpose is to show the investors that business continuity is ensured and even if there are zombies roaming the streets, the fund will continue to perform. In case of banks, these stupid business continuity setups are mandated by the regulators. PS. Now, zombies probably make good investors...

Citadel is a large multi-manager hedge fund, they do everything from statistical arbitrage to fixed income RV to fundamental long-short equities. 50-people operation for the fund of that size is pretty bare bones. Many banks and funds, including the one I am working, are running various...