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I'm curious to know what proportion of voters who flocked to Obama in '08 will abstain this time due to disappointment. Will Romney be able to attract middle class votes? I doubt it. The Rs need to find a man of the people, another Nixon or Reagan, fast.

You are right in that thinking you're smart because you're successful shows you have no understanding of probability (these guys need to read NN Taleb's Fooled by Randomness). The only exception to this is if you got rich following a strategy that has a proven edge. But success being built on...

Some entrepreneurs take personal loans and mortgages to bootstrap their business - if they don't start making money soon, they are out on the street. BO should distinguish between these guys and well connected preppies getting millions in VC funding for some lame web idea.

The whole problem with leadership is that how well or badly you do is almost entirely dependent on luck. A mediocre leader will be thought of as great if he finds him/herself in fortunate circumstances. A truly wise leader will come across as lacking if he finds himself in tough times. Isn't...

Another sign of a market top? Blonde chicks achieving seniority. Remember that one from First Tuesday c. 1999 who was always talking about "new paradigms"? :)

Keep whistling..

If we do indeed have a major crash soon, it will have been the best advertised one in history: there is literally a new piece of news screaming "market top" each day. 1. US cities going bankrupt 2. Recent new world record set for world's tallest building 3. Recent new world record set for...

Reality check: it is totally impossible to make 2 points/ticks (or whatever other size) every single day. This would be a positive edge with zero volatility, in other words a perpetual motion machine..

But we've already agreed it's the NAME that matters. There are a thousand MBA courses that will teach you useful business skills, but when it comes to getting a prized job, it's coming from the top 5 schools (worldwide?) that matters. Hence we have an extremely narrow range of people making the...

I honestly think you're in the wrong part of the economic cycle to count on an MBA qualification getting you into a good job. Have you considered IT/programming within banking? It's an oft overlooked career path. If you can master a programming language (C# is the one I would recommend) and...

All valid points (apart from the one about flipping burgers - I'd probably burn them..) I cannot deny that some people have done extremely well out of an MBA, particularly those that got their timing right. I just tend to be sceptical about the mindset that thinks "I just need to get this great...

That's great. With her salary she can top up your trading account each time you blow up ;)

If you admire MBAs / CFAs etc. after all that's happened since 2007, you are truly beyond help.. truly. Guess that's why so many posters use ET as a sort of free therapy site. Ever heard these quips? MBA = Master of Bugger All MBA = Mediocre But Arrogant They come from the hiring...

Does anyone with a CFA or MBA (top school or otherwise) understand any of the following? 1. To make money trading, you need a long term, provable statistical edge. 2. You need truly superior levels of PATIENCE and EMOTIONAL CONTROL to allow that edge to work. If they do it had nothing...

I found Larry's explanation about the Australian bail laws being different to be partly (but not entirely) convincing. I just don't have any further comments about that. Based on what I've read, LW's long career strikes me as one in which very serious money HAS been made, often really...

I'm genuine - nothing to do with hypostumus. I haven't been to this site for several months but have quite a long history of posts prior to that, mainly on the subject of trendfollowing.

It is a little curious that a successful and celebrated trader/instructor can't find $1m for bail money after 50 years in the business. I have no previous knowledge or experience of this guy and was surprised to discover he is MW's dad. I just did some google searches on him and must say his...

If USD customers are made up to 100% before non USD customers get anything, there will need to be clawbacks if the foreign cash ends up being irrecoverable. Basically all customers must share in any shortfall on a pro rata basis, regardless of the currency.

Please PM me if you had any (significant or otherwise) non USD cash deposits in a futures account at MF Global. Although foreign futures cash is regulated slightly differently from USD it is still segregated customer money that if ultimately found to be missing will form part of MFGI's total...

The Commodities Exchange Act makes it very clear that customers of bankrupt FCMs have priority over all other creditors (except those who are owed money specifically related to the administration of customer funds) in the case that customers have missing funds.