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I worked in a kitchen as a teenager....I never send anything back.

When I subscribed in 2003, you had to sign a 2 year contract. Not sure if this still applies.

That is spec, not arb.

Arbitrage requires both a long and a short.

Short answer for what happened.....complacency.

What black swan?

He is "not uncertain".

I agree. But its also easily applied and not prone to overfitting.

Margin rates include volatility of the underlying.

A fixed dollar stop across contracts with wildly different notional values and volatilities seems inaccurate to me. You might try using a percentage of of each contracts margin requirement which encompasses both values and has the added benefit of being already calculated by the exchanges.

You don't seem to understand the meaning of solicitation. You don't go to jail for paying for sex, which is why marriage is still legal.

I'm trading bonds myself now. FGBL, ZN and ZB. ED's are just too quiet.

I'm an old school Eurodollar spreader. A fly is 1:2:1. He can use TN in place of ZN to have a better duration dispersion. If you decide to change the ratios, I'd recommend that you trade them as 2 separate spreads.

Bloomberg has it as 4ZF-5ZN+1ZB

Try to find a used Herman Miller Aeron. Mine is 11 years old and looks brand new. It's my one piece of gear I wouldn't give up.

He used customer funds as a free call option.

The money wasn't "found". What happened is that the assets (mainly European Sovereign Bonds) went up during the bankruptcy and the trustee went into a slow liquidation mode. Things could have easily gone the other way. He had the two greatest American get out of jail free cards. He was a former...

What's the point of conflating trading a small account with a large one? It doesn't make you a genius to point out that it's impossible to make 1%/day on a billion. I know many guys who have been making 100% plus on sub $100k accounts for 20 years. But their accounts never grow. They are...

Don't be long bonds the day it passes.

In the old days of the "Brazilian" trade, the clearers risk equaled your gain.