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I just finished this book. Any thoughts on whether it bears any relevance in today's heavily regulated market environment? If so, what points of Jesse Livermore's (sorry, Larry Livingston's...) approach still apply? I came a way with the feeling that it was a quaint story about a different...

wait, the strategy is to buy a call, and then place a order to sell one at a profit if the price happens to move in my favor? That's fucking genius! I wonder why I've never thought of that...

I think about this frequently, since on the surface it calls my macro opinion into significant doubt, and I am not one to cling to unsupportable views in the face of overwhelming evidence. After having given it some thought, I don’t think the current bond yields overwhelm my opinion...

Landis: I wrote up a fairly detailed response and then somehow clicked "back" in IE so all of my typing was erased. :( Matched pairs are shorter term liquidity injections that I think we're seeing currently. I'm not going to re-type everything but some of my thoughts on the ability to...

I'm finding plenty of 10%/year opportunities on cash. The deals are usually secured with real estate plus personal guarantees (so no property management required). 5-7 year commitment is the only downside. Cash is crappy of you this inflation looms, I agree. but if you have a nervous spouse...

Thanks for that excellent link. Seriously, one of the most interesting I've read in a while ( I actually like to be proven wrong, as long as I learn something...). So the difference between a VRDB and an auction rate security is that the ARS does not require the letter of credit? Also, can...

Thinking about credit destruction and money creation as opposite ends of the same issue appeals to me. That’s a really good thought. However, I agree that there is going to be relatively more inflation in the not too distant future. Maybe “relative” is the key. Let’s say I have $250k...

oh and regarding "curing the principal" on Munis: really???? If I buy a Muni bond and the yield on it in the secondary market gets bid up there's an insurer to make up the lost principal? It doesn't want to enter my head. I know there's an insurer that guarantees the municipality wont...

^ Thanks for the detailed writeup. I am quite familiar with MTM and margin calls. If the $40B were just in margin cash as CDS rates increased, then all of it will return as the rates retrace, or as the term of the CDS ends. Regarding the Muni's, are they defaulting on their payment...

I didn't realize that CDS's were marginable. As a margin call, the $ would return as the contract period ends, (unless there is a default). Interesting to think about requesting margin cash from my insurance company becuase the likelihood of my house burning down is higher in the summer...

This may be a stupid question, but who is it that's having credit events that are triggering CDS's to pay out? We all keep reading about Govt dollars flowing through AIG to their CDS counterparties. However, I cannot think of any huge bankruptcies that might be triggering CDS payouts on that...

I like Denninger, but Im not sure I'm $100% clear on what he's talking about (in the latest entry on that guys blog). GS was the beneficiary of CDS's (on who? not sure who...) and they also mey have been short AIG. Not sure I understand the problem... sounds like a smart move to me. While...

Haha, that's exactly right... Seriously though, I can't see how all this deficit spending is going to not be inflationary. There may be short term contraction in some asset classes (real estate, for example), but I believe prices will inflate on things that I care about. I simply don't...

lol, is that Mark Twain?

me too. makes putting up with all the rednecks & yahoos worthwhile. (mostly joking)

Um, I think some gas traders may consider the weather... lol, just kidding. yes, weather (i.e. HDD's and CDD's) is without any shadow of a doubt the biggest driver of natgas demand, by a factor of like 10. Most shops spend lots of $ on weather data, or even hire a meteorologist (we have 2).

Go long oil like a mother****** (on full margin). Hopefully by the time they've fixed your million dollar error you'll have made a bundle... Unless you blow up, but then you just lose your own little account. I'm learing from the banks, AIG, the govt and the PPIP. :D (I didn't read...

Impossible... :D :p :D

lol! Again??? didn't they just lower it from 620 to 550 or something?? How low can you go? Once buyers default, Obama'll just print up another batch of money to pay it off. But seriously, I guess GAMC's bonds must have taken a hit over this?

I agree that Obama is a breath of fresh air when it comes to public speaking, answering quesitons, etc. However I am not completely sure how much of that is just because everyone's been watching the chimp for so long. Obama, McCain, Kerry, Gore; they all seem like Toastmaster Generals compared...