Search results

If there's a downgrade, it's done. bond-insurers cannot do business if they aren't rated AAA.

God knows there's nothing to steal. But your story (and existence here) poses its own problem. Why do you care. We don't know who you are. We don't know what company you are with. We can't believe how naive you are. Aren't you theoretically better off not haven't interjected at all? I very much...

Give it up. I did in the last thread. This jerry fella likes to attack anyone who points out the stupidity and inconsistencies of his statement by asking for qualifications. Those of us who do know this stuff really don't want to argue with someone who is so clearly misusing terms that his own...

Well... either you know someone who will stake you because that person knows you and trust you, or you need to be a part of the institutional world - in which case the chance of you getting staked any time soon is marginal. The reason is simple: why would anyone believe you have an edge? A few...

I don't think any of those things were listed are right in any non-trivial sense - or at least taken to an absurd extreme. At the end of the day, the bank is running a business. Much like you don't want cops to shoot at everyone (though shooting, like losing, is sometimes necessary; and...

I flip through that magazine for the articles on watches and scotch. Can't really recall who the "traders" they feature are. But to the point, these are the guys doing tens of billions of dollars in volume a day.

Haha. No. The the floor has all the market makers, sales traders, sales coverages, credit analysts, risk analysts, etc. There are no day traders. A large part of that floor is taken up by fixed income cash & derivatives. But look on the bright side, there are quite a few b-schoolers on that floor.

If I understand this, you are trying to buy $16MM bonds on a levered basis and then post the bonds as collateral against credit? I think there are several problems with that. First, you'll probably end up not getting a zero, but on of the treasury long bonds. In that case your position will cost...

How very presumptious of you. They were proof-of-concept forecasting projects, in finance, custom built apps designed to see whether any of this was practical. It's one thing to use NN for fraud detection. Sure. Facial recognition, no problem. It's good for stationary patterns. Non-stationary...

I'm going to call bullsh*t on you. I've worked on projects relating to almost all the keywords you've used, and they don't fit together the way you seem to imply they do. Neural networks can't generate code. They are just big curve fitters. GA can't generate code either. It's just a search...

virtually impossible

I'm not sure I understand your logic here. If, tomorrow, civilization effectively ends for whatever reason, why would you (who, let's say, has the forsight to stock a few hundred cans of tuna) give me some tuna in exchange for gold coins? What are you going to do with gold coins exactly? Even if...

I'll chime in then. I trade CDS and non-mortgage-related CDOs (so I must be the devil so long as the board is concerned). Financials are at interesting place. Spreads are wide, though off of their recents highs. But AA money center banks are unlikely to default most because of the "too big to...

Calm down nut jobs - the LIBOR rate people usually talk about in the context of subprime lending is the US Dollar LIBOR rate. It's the average rate that major banks will lend each other dollars at various terms for. Obviously ,there's a also a huge swaps market based on it. There's a seperate...

I do. I trade CDS for an institutional portfolio. We hold longs and we hold shorts. Banks, as counterparties, tend to have fairly balanced books. Though no one is a pure market maker (they all take prop positions), there's no major inbalance. The characteristics of holding an unlevered...

Go for it. I've met enough people in this business who came from very humble backgrounds. Just don't expect there to be an easy way. My only point is that there's no short cut; no magical indicator bullet.

Why should you be entitled to make any money? People spend their careers, decades of learning, an unholy amount of time to either code sophisticated quant models or pour over every detail of a company to make money. Why are you special? Let me ask it another way: suppose you said instead, "I...

"NO software or desk fees" - yeah - this is a glorified prop firm at best... no legit investment management firm would have that there. Look - you are qualified for backoffice. And only backoffice, at this point. Front office positions aren't easy to come by at age 21 when most people get out...

How is this market neutral? You can't possible be beta-hedged unless MAC has very very high beta compared to the other names.

With no new series roll and the TABX market basically dead in the water, I'm curious to see how the ABX game ends. Get some nudges from time to time to do some relative value trades in the area, but the profiles all look terrible upon thinking