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We used to call the OR/IE kids : "oh really, it's engineering?" :)

Thanks for your time so far in helping me understand how this strategy works. How do you know what to buy or sell? Are you looking for moving average relationships to determine if you should buy oil for example? Or is it some persistent phenominen (like convertible arbitrage - where embedded...

You need some method to determine if there is any risk premia to be harvested. How else would you do it?

What is the fair value you are trading against? Like in options it's implied vs realized. Or in risk arb its the spread between now and the final deal price.

I view harvesting risk premia as trading something that isn't trading at its fair value because of the inherent risk averseness everyone has. Is that the same definition of risk premia you are using here?

GAT: can I ask you a basic question about trend following CTA's. What are they profiting from? Are they looking for situations where someone is buying a commodity and they jump on the bandwagon? Or is it to harvest some kind of consistent risk premium? I read a lot about managing risk and...

She's one of the good ones in the trump administration. She at least pays for her own private jets.

He's still bragging about scoring four touchdowns in a highschool football game.

In Somalia, you can get one from a stupid tourist for the price of a machete.

4 figures at a retail store. It might be worth the price of your forearm in other places.

My parents visited Iran a few months ago. They were shocked at how cosmopolitan Tehran was. It's nothing like the images we see. The people were quite friendly. I agree about the regimes. A lot of the "barbarianism" that you read about (in Pakistan or Afghanistan or even in Hindu India) is in...

Most Muslims don’t hate America, just like most conservatives aren’t racists even though that’s the image you see on tv all the time.

I thought you were above the typical politics forum posts.

Since when do you have to hungry to have a donut?

You can argue that those flaws is what made him his first billion.

While it's an interesting paper and he's an articulate writer - just be aware he's a perma bull on vol and is incentivized to convince people they need to invest in long vol strategies (like his fund).

That's the study.

Actually there was a study done: you want to make a liberal become more conservative then make them feel scared. If you want to make a conservative more liberal make them feel more secure.

Improving a business is hard even if you actually understand the industry you are in (that's why there are so many underperforming companies). I would posit that the only value an activist can bring is that he can shake up a dysfunctional status quo: for example managers who continue to hold...

A market crash is Paul Ryan's fault for not passing tax reform.