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Perfect... let some come along and impose what their definition of "happiness" or "satisfaction" is on us. How about, let the economy do what it's best at doing: producing. Let charitable and alturistic actions be choices of the individual, not society. Let me give because I want to give, not...

Congrats on your gmat. Keep in mind, though, that a good GMAT is like a high SAT score - it just means it won't disqualify your application. It's no guarantee (or even help, once you are above a certain cut off). MBA programs stand on work experience. It's hard to get in unless you got that...

I got a bloomberg that I use everyday. But why in the world would it get it just for the news? It's got quality news and all, but that's not the reason why people get bloombergs. It's for the data, analytics, calculators, and sellside messaging.

If you can arb between two dealers, that means the two bid ask pairs are crossed, which means at least one of the dealers is giving you a price better than you should get, and therefore he's losing money (in terms of actual opportunity cost). Okay, look - we can all agree that retail fx...

It would really take completely brain dead dealers to let this happen. There might be lots of scammy bucketshops around, but they aren't in business because they can't post the right quotes that are in their favor. I'm sure once in a long while you'll find two dealers who are out of line...

And these examples of individual fraud and poor operational risk control are examples of what, exactly? that there are people who commit crimes?

So basically, when you make a ton of assumptions on your return distribution, all of a sudden your investment idea makes sense.... Alright. There's a chance that there's a group of highly successful independent traders somewhere exploiting microstructures in liquid markets. (I don't think we...

Ah coming on jack - you troll better than this! where's the page long rant? where's the summary word document? By the way, do you do parties? I would love to have you performing at our Christmas party this year. PM me your rates.

This might be the case. But who are these, forgive me, mythical people? I ask this, because for all the years I've read ET on and off - at least since 2001 - there hasn't really been a single example. There are some magnificent frauds - I think one posted in this thread a few posts up - but not...

And no, you can't easily arb the difference between the spot and futures price. The gap reflects forward rate differences between the two currency. Arbing all four elements is a classic pricing relationship called covered interest rate arb. It won't exist often and even when it does, it takes a...

Um.... no. in the very very unlikely scenario that you are not a shill, the dude is lying to you. spot fx is one of the deepest and most liquid markets in the world. There's perhaps some chance that a stupid, incompetent retail broker somewhere misquoted and allowed an arb to exist, but that...

No no no no no... modern finance theory assumes arbitrage doesn't exist to get to its results. Because when arbs exist, it's just free money, and it'll be arbed away. It's great for those doing the arb, it's somewhat beside the point for modern finance theory, which is concerned about very...

Well, a successful options market maker should be able to do well in other markets - by virtue of him being a smart guy with experiences and can pick up whatever specific knowledge needed. But, trying to use whatever options market making skills he learned there to run, say, a synthetic cdo...

Neat trick. If you actually save all the cards in the first screen, you'll notice all the cards are different in the second screen. So the way it works is simple: it relies entirely on confirmation bias. You only notice that it worked for your pick, but not that it failed for everything...

Simulations. I've seen some work done that gives very complicated (VERY COMPLICATED, even by stochastic calculus standards) results for even simple normal distributions. This is a pretty new area where the boundaries are not hashed out. Any classic time series analysis text that introduces...

I have a somewhat contrary, and somewhat unorthodox view on this. "Traders", in the sense that we usually think of him, is forged in market inefficiencies. He makes his buck by having better information, quicker access to goods and products, and better analysis than others. To me, the...

There has been a recent thread that addresses this: http://www.elitetrader.com/vb/showthread.php?s=&threadid=164148

As in essentially a funding conduit for the government?

I count myself as a conservative and you, sir, with your knee jerking barely literate posturing give us a bad name. Please, do actually read the facts of this dealership business before bashing people who essentially agree with you. The government has no business stepping into a well...

I'm not sure if you are disagreeing or just pointing out the binding arbitration clause, which I too would expect to be in the franchisee agreement. Two things though: first, if the arbitration is conducted in an unfair manner, the franchisee can still sue. In fact, there's nothing that prevents...