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If a dozen years ago someone had described where we are today in terms of the Fed's $8 trillion balance sheet and the complete disregard for fiscal discipline among the executive and legislative branches of the U.S. government, I wouldn't have believed it. Something's got to give, and the past...

Despite their PhDs, the higher ups at the Fed have no idea where this whole QE experiment will end up. The latest banking crisis came out of the blue. I wonder what's next. Among other things, BTC is a bet/hedge against the current system.

Yahoo Finance and Bloomberg (internet site) both include extended hours volume. I looked at a stock (IMUX) that reported clinical trial results after hours on 10/20/2021. It traded a lot of volume after hours, and that is reflected in both the Yahoo and Bloomberg volume data for 10/20. I would...

Trying to understand the $8 billion shortfall at FTX, which had been "backed" by FTT collateral from Alameda. Since the shortfall relates to customer accounts at FTX, does this suggest that Alameda basically suffered a trading loss of $8 billion? That is, Alameda couldn't repay FTX because they...

FTX has only themselves to blame. They left themselves susceptible via their exposure to their illiquid FTT holdings. The same type of downside risk is why IB limits its customer's buying power for illiquid securities.

Average leverage would help complete the picture.

How about hedging with long OTM puts on IWM at an equal leverage to your long exposure? If you go far enough out of the money, say 5%, the cost wouldn't be too terribly high relative to your past returns, and it should mitigate the fat tail that everyone is worried about. I guess longing puts...

TGT up today. Apparently you're out at the close, but not clear what price you entered.

I'd agree that you'd not want to publish your idea if it works. The typical academic journal referee wouldn't appreciate it anyway. It's like casting pearls before swine. Years ago, when I was in grad school in NYC, a Wall Street friend always told me to keep my best stock-related ideas to...

Yes, that works. No wash sales if you don't trade in December.

Meanwhile, Congress trades based on inside government information with no repercussions. https://www.benzinga.com/government/21/01/19322304/nancy-pelosi-buys-tesla-calls-stands-to-benefit-from-new-biden-ev-plan

As far as a long-term investment, how do you factor in government incentives to restrict crypto in order to maintain the effectiveness of fiat currency?

Another consideration is Biden raised a large amount of campaign dollars from Wall Street. He owes them a few favors.

Professor Cornell comes off as the epitome of ivory tower cluelessness. How is a so-called investments expert seemingly unfamiliar with the Medallion fund? To think that a regression is going to give him insight into their strategy.

The main reason is shorting has become incredibly difficult since the end of the financial crisis, probably because of the Fed's influence on the market.

No reason for a "market neutral" fund to remain 22% net short after the market dropped. If you re-balance to market neutral after the market drop, you'd be break even after the market increase.

Well, worst case is 5 cents on $20, or 25 bps per trade. Even half that annualizes to 37% per round trip. Not too many day traders clear that.

Sounds like it is per share, which of course would devastate HFT and many forms of day trading. I think as long as it's a NY tax, rather than an SEC tax, there should be workarounds by having trades execute elsewhere.

Perfect, thanks a lot! I'll order one today.

Thank you. It slows down at times, and I've wondered why, so this helps. I load real time data for 1,000 stocks into Excel (1,000 rows x 10 columns), run 2-4 Matlab programs, two IB trader workstations, and a web browser. Any suggestions on how to cool it down? Add a heat sink? It's not a...