Search results

Hhmmm, curious how Refco is soooo defended here. As a trader, if any other company's CEO was arrested, a bunch of Fed investigations launched and the stock halted and quickly de-listed from NYSE, and customers heading for the hills, would anyone touch the corp with their own trading money or...

Funny, when they thought everything was OK, all these customers openly bragged how clever they were and that credit risk, reputation etc didnt matter as their costs were low. Now, theres a problem and they all scream for a regulator. Sorry folks, but its time to grow up.

Y'all need to go read terms and conditions. And by the way, you're not a general creditor when a firm files ch 11, you're an UNSECURED general creditor. So, get in line with the guys they buy pencils and coffee cups from. I also think, that under ch 11 in NY, the defaulting party and the...

Fred-- I have NO idea how much dough you have at Refco, but IMHO, the risk of an adverse headline or some unexpected development , can throw you off your game. Its easy enough losing money trading, why risk it with a firm going through changes? And anyways, if Refco re-emerges in some new...

My point is that large volumes arent always profitable, that large customers will punish traders financially for unethical behaviour and if you think losing money or pissing off big customers is allowed by senior management, you're very wrong. 2cents- I doubt you ever worked in anything but...

what ever happened to his dollar short?

I'll never understand why anyone asks sophisticated tax or legal questions on a chat board. Do you really intend to rely on any of this advice?

Try dslreports.com and look in software section - there'll be some comparisons and tests

achilles --- OK, sorry. Heres an example. See if it fits your thinking. Suppose one customer comes along who has an incredible balance sheet and decides to trade in size. I mean real volume. They start layering in trades - about US$750 million per layer. Do it a few times, then buy it back as...

ckarlis' post is probably one of the greatest posts on this website - ever.

Thanks for your comments - I thought they were absolutlely terrific!!! Risk is always a question of perception, so if you make cash your way and I make it my way, we're both happy.

>> You miss my point completely. Anyone can innovate or do whatever they want. There is so much noise, that a small trader wont be noticed by institutions that have their own ideas, goals etc. There are countless tales of folks who are monster traders yet have their head chopped off all the...

Probably no direct or quantifiable P&L - thats a sure way to get fired these days.

I'd love to spend a day at a prop firm in NY. Any ideas? Then I'll report back my findings and see if y'all agree/disagree.

1. I doubt most banks will study smaller trader activities as they lack the time to. Of course it can happen, does it? Rarely. 2. Ummm, you miss the point. Of course, the bank takes the other side, and then decides if they want to trade out of it, or another customer buys it or etc etc. You...

2cent - Although I dont disagree that stuff does happen, considering the number of trades, the number of clients and the number of sales/trader staff etc, it is limited. In comparison to non-tier 1 firms, where unscrupulous behaviour is the norm. Ever wonder why some low level firms will do...

If you want a career, not a job, you need a degree from a top tier school - anything lower than a Tier 2 school, IMHO, is a waste of time. Dont bother.

Paranoia seems to be the norm here. 1. With the costs of computing dropping as quickly as it does and lots of smart people around, you have to assume that teams of folks at major universities, banks etc are looking at every stratgey under teh Sun to see whats profitable. To even think you're...

So much for the argument that being on CNBC was job enhancing

IMHO, its a function of your account size where you trade. Jumbo leverage makes no sense if you can swing reasonable size at name brokers/banks. I take enough risk trading, worrying if my broker will open his doors in the morning isnt a worry I want. Although for periods of time the bucket...