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is there 200% margin? I thought margin was limited to 100% initial margin overnight and 300%-400% intraday. FX lexerage is much higher and befoer the depression I think stock leverage was like 10x. Frankly 1x leverage doesn't seem like much, it's very conservative.

I don't see how the US can ever raise. I think the US raises only when US residential new housing starts to take off, and there is no evidence of that happening. The ISM was at 49 in August: "Manufacturing contracted in August for the first time since February of this year, as only six of our 18...

I’m confident that this is not Lehman 2008. It is, however, a state of clear and accelerating franchise damage, and there is certainly a point at which that franchise damage becomes so severe that it can’t support its cost base. The worry that ought to be on management and the market’s minds is...

This is the best BSC chart I could find. Remember that once it broke $70 it was over, it was more or less a straight line to $2. Looking at this chart, there's not much volume here. The volume in March 2008 before the break below $70 is not much higher than October when it was still flying high...

DB has already crashed. It's down from $30 in late 2015. We wouldn't see this much volume at these levels if DB were going to $5. DB is already at the high volume wash out phase.

really? Canada is at .5 and US is at .25 and ECB is at 0, so it's bigger than about $30T of GDP.

that's true, retail sales have been negative. but oil is coming back, and I would expect the currency to anticipate that.

I don't understand why CAD is still so weak against the dollar when a) the interest rate is higher and b) oil is stronger, which is correlated 90% with CAD and c) the US has a lot of uncertainty around the election. I realize that Yellen might raise rates but what is keeping Canada weak? Are...

Final two installments in the series have been posted . . . the claim is made that UBS was involved in trading penny stocks in some complicated tax shelter/money laundering scheme. Knight and UBS were trading all the same penny stocks, and were on opposite sides of the trade? UBS was long and...

he got a lockup in exchange for a preferential deal . the irony is that he wanted to make money screwing people over and instead he was the one who got taken.

There was a reverse split in there and some other stuff, it wasn't clear how much he ultimately invested. But I don't think he ever had a 10 or 15 bagger, he probably put in more than $80,000. There was a 1000-1 reverse split which would have left him with 3,700 shares. He got a better deal and...

I don't take pleasure in people losing money but at some point the endless sore losing of the "naked shorting" people like Byrne, they really need to realize that their problem is not "naked shorting" but "money losing" and nobody is responsible for their money losing but themselves. naked...

why don't the naked shorting crybabies realize that naked shorting doesn't drive worthless stocks down? the only reason you can naked short these penny stocks with impunity is because they are *worthless.* That's the problem. don't blame naked shorting when the problem is that you buy worthless...

There is a silver lining for NVAX investors, they won't pay no mo' tax on Novavax.

They're all on twitter. It seems like every third very smart guy on twitter is "ex-UBS."

The problem is probably that the copiers quit when the strategy underperforms. Hard to stick with an underperforming strategy if you're just copying and don't have any conviction.

I think I figured out who is selling. It's not the biggest shareholder, FMR, because they just filed their report and actually added last quarter. It's not the shorts, because they've been covering. It's not the other big shareholders (not the two that own 13% and 51% of the shares), because...

Float is only 6 million, 7 million with the 1 million shorts, so pretty small float. But even so 12,000 shares a day is . . . really slow.

It's not really a poll, more a rhetorical question.

Handle, didn't you leave the building? I thought you were going to travel the world and let your automated systems print money for you.