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Disown and throw all those Wall St. billionaires in jail and you have a happier nation? More equality = more happiness :cool:

Some people prefer to be poor in a society where everybody is piss poor rather than be middle class in a society with 1% super rich :cool:

http://www.bloomberg.com/apps/news?pid=20601109&sid=alximP6.Eta8&pos=10 "Nov. 20 (Bloomberg) -- Brandon Adams, who teaches behavioral finance at Harvard University’s Department of Economics, says some of the best candidates for Wall Street trading jobs are the professional card players at...

I agree. A serious trader would have the majority of his net worth in his trading account. A gambler only a fraction.

The question you ask is akin to: can one run a business that generates a 10% return on capital per month like clockwork, for an annual return of 215%? With minimum risk and little work? There's your answer.

Looks like they're going to cancel them, was worth the try though :cool:

I am not at all sure if this distinction (entrepreneur vs. employee type) has to with people being high achieving academic accolades or with completely other (character and upbringing specific) traits. There are numerous examples in business history of uneducated as well as highly educated...

Gun to the head, I'd give my money to a Physics PHD for trading rather than giving it to a guy with a PHD in sociology, political science or law. Nobody said every Physics PHD is destined to become a great trader. What nonsense. Still, physics/engineering geeks generally are very good at the...

I studied both electrical engineering and economics and let me tell you that both physics and engineering PHDs/professors were - measured by intellectual rigor - LEAGUES and BOUNDS above their colleagues in other academic sub-disciplines that I was exposed to.

2200 contracts bidding up Dec DX NYBOT to 82. Back to 75.8 now, took a couple minutes though. Makes you wonder if these trades are going to stand. Who just lost their job?

Peak gasoline? :cool:

I'm in the same boat. 0.05% a day is a good year. 0.07% a great year (for me).

It's a good thing Whitney is just a talking head and selling investment advice rather than running a hedge fund. She'd implode faster than a cheese souffle.

That's what I said: Gross' statements are overly broad. He paints all strategies with one brush which is very naive. Equity L/S hedge funds are the largest hedge fund strategy by assets. ( http://www.eurekahedge.com/news/images/08_July_EH_Key_Trends_in_NAHF2008_image04.jpg )

Commodities were just an example. My point was that anything - even gold - can crash 50, 60 or 70% without first going into a gigantic 5,000% mega bubble. These bubble play books may be interesting for psychologists but worthless for trading in my opinion.

http://www.docstoc.com/docs/10462912/Goldman-Sachs-Hedge-Fund-Monitor June 30: Net long exposure was 31%. This structure is the industry standard for equity L/S hedge funds.

What ever happened to Russia? :cool:

Take a look at how the big equity L/S funds are setup. There is public L/S exposure data available on some. E.g. Marshall and Wace TOPS fund (one of the bigger European HF) had a 0.23 long exposure in September, 1.27 long and -1.04 short. Somebody posted a recent GS prime brokerage bulletin a...

If I structure a portfolio putting $10m long into a bunch of stocks, and $8m short into another bunch of stocks. Then my gross leverage is 1.8 but my net long exposure is 0.2. Leverage in a fund can indicate lower risk, because if employed right it can lower directional market exposure. It is...

You're the clown making overly broad statements, not me.