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You're right, it is early in the year. There aren't a lot of major releases right now so the data looks ugly. It'll get better, and their Diablo 3 game will be big and I'll likely be personally helping their numbers with that. But the industry data has been ugly for some time. Some argue...

You're right, I looked at the S1 again and its 27x 2011 revenue. I'm not sure what figures i was looking at before. So at 100B, the valuation is actually very cheap. I can almost guarantee that this will start trading at a valuation significantly above 100B and remain above that level.

At the 100B valuation people are talking about, it looks to trade around 108x 2011 revenue around 63x 2012 revenue. I would not be so dismissive of the name just because of the valuation though.

How would you characterize the industry as growing when YTD industry sales per NPD are all down 20 to 30% so far?

The 80% stock is ANGI, which last I checked IB was charging 80% for. There are probably a decent amount of people looking to short this name. So back to this AQS system, does it mean if I go to the market and want to lend my shares for 30%, I will be able to find someone to borrow them...

I've been signed up for IB's yield enhancement program for a few months now, and I would seem that they never lend out my really expensive to borrow shares, some of which they are charging as much as 80% interest for. I would assume that they would prefer not to lend out shares where they...

Yeah, I think it best to have low expectations when landing one of those coveted wall street jobs right now. Keep at it, if your strategy keeps performing, even at a fraction of your historical returns so far, you may have built something very valuable. While my risk adjusted returns have...

My sense is that while your results are impressive, a year of history is likely not enough to land the types of jobs you are looking for. However, this will largely depend on your ability to sell your strategy as something unique and innovative, making them believe that these great results are...

Well that makes sense.

This is how I understand it too. Why create an incubator fund right now? Why not just trade on your own and if you are able to build the track record a few years down the line, get them audited and use that to raise money? What are the advantages of actually creating an incubator fund right now?

I find it to be very overvalued.

You're not gonna get anything unless you have permissions from the respective sell-side firms. I think you're probably looking at prob 50k/year in comissions for each bulge backet firm. And that doesn't get you any analysts on the phone either. Also I think something like theMarkets...

Bwolinsky's mistake is a good example of the dangerous of intuitive thinking. He looks at the problem and immediately thinks "must be a trick question." He's been studying a lot of CFA material recently, and thinks, ah, must be an issue of compounding. This leads him to a biased, intuitive...

Truly it a waste of time to attempt to impart any knowledge onto some of you people. Lessen learned. I just cited some basic academic theory that was relevant to the topic. I'm not trying to argue with whatever point you are trying to make. If you're trying to say that stocks should have limited...

Financial theory states that a company is worth the discounted value of its future expected dividends. Even if a company like AMZN doesn't pay dividends, and no one expects it to pay dividends, this theory states that this fact does not affect the value of the stock. The cash that the company...

All economic recoveries begin with the assistance of fiscal stimulus and supportive monetary policy.

Any weekly target is not realistic, unless it begins with a negative sign

I commend you for keeping this journal going despite the difficult years. I also find that most of my profits come from a smaller number of high conviction trades. However, I still like doing low conviction trades because it keeps me in the game and thinking. Also because as a whole my low...

Curious to see some thoughts on this. Lets say I am trading US stocks that have average daily trading volume of 2mm shares, price of stocks around $15. I execute my trades using IB's algo orders and setting participation limits at 1% of volume. Meaning that if 1mm shares get traded I should have...

What do you expect people to say? You post these hypothetical resuits that are beyond amazing. So either you are have found the holy grail, and are on your way to creating the next Rennisance, or you have made some sort of error in your backtest. If the former is true, we are all truly blessed...