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Thanks, I got the point of the quote, just pointing out it didn't reflect reality.

Nice quote, but I'm struggling to think of a real example of a country that has gone democracy, dictatorship, monarchy, let alone one that has done so for that reason? Maybe France in French Revolution times with the sequence, but hardly for that reason.

There aren't any limitations on a U.S. citizen opening an overseas bank account, just a bunch of reporting requirements. There are limitations if its a forex or other trading account, but not a CD style bank account we seem to be talking about here.

PM me.

Did you mean to say 1% vice 10% on USD money market? With 1 year treasuries at .27%, you're clearly not lending to a "reputable" bank if they have to pay that much to attract capital. There has to be some significant risk you're unaware of, or some kind of back story or else that would be arb'd...

There seems to very much be a pipeline for this kind of thing, i.e. technical undergrad from a top school, you do your time as an analyst at an IB, working 80 hour weeks burning up spreadsheets and making copies, get an MBA from a top school, get an associates role post-mba, probably sell-side...

How are CBOE SPX PM-settled options settled if the S&P 500 is limit down at the time of expiration, i.e. a 20% Level 3 circuit breaker is tripped and all trading has halted? Do they settle as usual using the frozen limit price as the index price, or are there alternate procedures in place? Did...

I'd say you provided very well thought out, reasoned advice that was no more harsh than it needed to be. Sometimes its nice to have someone like you who respectfully but firmly provides some well needed advice. I certainly have benefited from it in the past and expect to in the future as well...

Good point. I think its a domino thing everyone is worried about, first Greece, then Ireland and Portugal, then Italy, then Spain. I also think galvinlee888 might not be too far off. While contagion was real in 2008 its probably a pretty remote chance of it happening now, but the overreaction...

Also don't forget that some ETPs have pretty complicated K-1 reporting, mostly commodity products but some potentially surprises as well like the VIX and some ultra bond products.

Why don't you post the ticker and your options? I for one will be happy to take those off your hands at less than intrinsic, just post your order and let us know its there, I'm sure someone here will hit it. The MM isn't the only one who can act as a buyer.

I think you're coflating two different things, intra-firm versus inter-firm. IB probably charges more on small loan amounts because it costs more to service them and the small margin loan space isn't as competitive as the large margin loan space. But it could be that they just don't have...

I'll paraphrase then, in today's hypercompetitive broker market it is crazy to charge 50%. There are two parts to pricing, what it costs to provide the service and what the market will bear. In competitive industries providing a commodity, those two converge to something slightly higher than the...

I have to warn you that your ability to trade in your own account is severely restricted when you work anywhere in the finance industry, even if you're in the back office. The firm's compliance department usually has to pre-approve all trades except for broad based mutual funds and maybe index...

I should clarify because I think there are two things going on at once and I didn't do a great job explaining it. First, the trust itself has a gain or loss, as tiddlywinks correctly points out, that is reported on the K-1. This flows to your regular income, regardless of if you sold the stock...

And here's him saying the same thing in 2011, and if I took the time I could probably find him saying it every year for the past 20 years. Meanwhile he missed the S&P 500 doubling since that dire warning in 2011. The guy's a broken clock, he continuously predicts a crisis, is "right" when one...

You'll want to try deleting it from each spot in turn, making sure that Turbotax doesn't double count it. For example, if you entered it on your K-1 and your tax went down by $100, then you went directly to the schedule D and entered it and your tax went down by $100 more (or any amount more)...

Sounds like a little jealousy. If you can't beat em, join em. Why not come up with your own "stupid" startup and get your millions of dumb VC money, if it's that easy. hint: its not, for those of us who have done the startup thing, but absent the fund raising part it is a lot of fun.

Since it costs IB little more to provide this service than any of their other brokerage services, the answer is that it should cost something similar to all their other products, i.e. they make a commission of less than 1%. Taking 50% is crazy, something they can do only because as you pointed...

Are they doing something closer to OTC trading where they line up a counterparty and then trade? I'm just not seeing any bid/ask any time I look on anything but maybe the top 20 traded stocks. Is there a trick I'm missing here, I'd love to be able to trade these.