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i agree, most people who get into these financial hardships can blame themselves for years of poor planning and financial neglect. they talk about how they lost their job or what not, but that wasn't the real problem. the problem was, they were living on the edge for many years and it only...

none of those sharpe ratios mean jack. they're all based on a few months of trading. mine is 4.9 since 2000. that means a lot more than these gamblers. give them another year or two and they'll all be under 0.3.

you're sadly mistaken. allow me to burst your bubble. cme's 5% limit down is only for eht. 10% limit down only halts trading for 10 minutes during normal trading hours. when trading resumes, 20% limit down goes into effect (and would result in halting of trading for 20 minutes) . then 30%...

i won't say that a 22% drop in today's world is impossible. however, if it happens it won't be for the same reasons of 1987. 1987 was caused largely because institutional investors had computerized trading programs but the nyse (where most stocks were traded then) was still done by pen and...

in 1941 they were down to 0.03%

don't you have to live there at least 6 months to be considered a resident? you should get a drivers license, utility bills, etc., to prove it too. it'll help if you have stable employment there too.

the discount window was not available to investment banks, only commercial banks. since then, the fed has opened it up to brokerages as well. i'm not sure if this means bear would now be able to borrow from the discount window (because they have a brokerage service).

calif is non-recourse for owner-occupied primary residence, except for cash-out refi's, in which case the cash portion is recoverable by the lender. even if they go for your assets, certain things are off limits such as 401k, pension, ira.

150bp should be on the survey. market is pricing 40% chance of 100bp and 25% chance of 150bp.

(crickets chirping)

a full reserve system would be result in a snails pace of economic growth and massive stock market devaluation. it would cause astronomical lending rates because the money supply would be so tight. for a bank to lend money, it needs 1:1 in deposits, so it would need to offer high interest...

and the trading model used by ltcm probably makes th's look like a 6th grade project. what's your point?

do you feel guilty going long on a stock like bestbuy, which crushed its competitors causing layoffs and shareholders to lose money, or dell 10 years when it destroyed its competitors causing similar pain? i have no qualms about taking bear positions. don't give me this ethical shit...

the total open interest of all bsc puts was 400~500k. every one of them became itm. if the oi from last friday was the same as today, then that means the aggregate increase in those puts was over $1b. obviously some people made a lot of money.

they may have $1.4b in undrawn credit lines, but those can be pulled. if they have losses (from a rogue trader or whatever), count on that happening. also, lol @ the "joe lewis" comment. his name will forever live in investment infamy. :D

i thought ibkr had a strong balance sheet. are we witnessing irrational fear, or is there something we don't know? i wonder how much money the sipc has on hand in case a number of retail brokers fail. this is turning into an absolute panic.

they're not buying it for $2 cash, they're buying it with jpm stock. people are betting on jpm increasing by the time the acquisition is completed

and replace it with what, a full-reserve system? i hope you're not serious.

the delirium has finally set in for longs, such as peil. what's next, call your broker and demand they bust the trade? :D face it, you lost 95% of your investment, accept it and move on.

the buyout for $2 was not a black swan. after the bankruptcy rumors all last friday and the 50% drop in stock price, you cannot consider this a black swan. sept 11 was a black swan -- absolutely no one saw that coming (except the hijackers).