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That means nothing. It's called leverage. Works during good times, until that major event hits and you lose everything. Geometric mean.... However, he does seem to be a genuinely good manager. I just don't think track records, without context, are the best measure, especially for only 5...

I've lined up seed capital through alumni/parents of prospective students at my university. Just my 2 cents, from a younger dude.

yes, the price of oil is the price of oil. Talk to any trader for an energy company. Don't let retarded media outlets fool you. Morons, such as some of the dummies on this board, are allowed to "speculate" on a decline in prices. They would, of course, be wrong. But no conspiracy is...

the problem with a strip club, and this is mostly an ego thing-you're not an equity holder in the real money, which goes unreported. Meaning, drugs and prostitution. Stake yourself in a coke biz and get real money.

Cover your shorts homie. Stop posting.

It's called fundamental attribution error. Every American (including myself) likes to blame others when shit hits the fan, and take credit when things go right.

If you understand Hubbert's Peak Oil theory, and see how incredibly accurate it has been, you'll recognize that "mean reversion" is B.S. in this case. This isn't stock, this isn't houses-this is a non renewable energy source. Dollars can be devalued. Houses can be overbuilt. Oil can't...

Peak Oil=reality/an empirically validated theory. "Evil Speculators"=sensationalist, economic populism spread by fruitcake "Journalism" majors that couldn't hack an economics course.

That article is more populist, anti-market B.S. Also, they lost all credibility by completely screwing up the definition of peak oil. Peak oil is the point in time when the maximum RATE of global petroleum production is reached, after which the rate of production enters its terminal...

see, that's the probelm with chop shops. They force you to make money by increasing the % of winning trades, and trading small and often (basically, scalping). The way I know how to make money in markets-swing/position trading with an assymetric payoff. I load up on idiosyncratic risk, but...

Magellan has about 300 or so companies to choose from, due to their mammoth size. I love being a small guy-there's better opportunity out there.

POT may be overpriced. However, I believe that ethanol has a couple more years to go in terms of political support, sadly (I hate ethanol). There's enough policy lag for more money to be made in agriculture/fertilizer plays in general.

with a family friend. He worked as an institutional energy/oil trader and is now self-employed, running his own money. Very high net worth, as far as I can tell. Anyhow, his kid is visiting my university, and he said he would love to talk to me about getting into the hedge fund...

Higher Oil causes a decrease in the marginal productivity of labor, which decreases labor demand, leading to an increase in the natural rate of unemployment. It also renders expansionary monetary and fiscal policy as useless. What confuses me is that Cramer is Harvard educated. Why is he...

ha-According to Hanke, you don't need to diversify your bonds. If you go chasing high yield and the borrower defaults, the fed will bail you out. Moral Hazard 101. But yeah, GZA and RZA are a bit smarter than most policy makers. Wutang for ever, motherfuckers.

Ha, I know Hanke. He's considered a real nut, but he's right about central bank activism.

what job do you have that pays 800k that isn't on Wall Street? Corporate law?

^yep....nominal share price volatility is only one risk factor...and it's not even properly measured with typical Gaussian metrics... There's: 1. Liquidity risk 2. Systemic risk 3. Currency Risk 4. Credit risk 5. Interest rate risk 6. Political Risk etc.

how about this: correlation is a terrible measure of risk. Correlation is not fixed, and does not prove any causal relationship. I think for a young person, stomach as much volatility as you can. Loss aversion allows for a non-linear relationship between volatility and returns. That's why...

If your strategies don't scale, this might make sense. But with a hedge fund, you can take 35 non-accredited investors and limitless accredited investors. The capital is wayyy more scalable, and easier to raise.... Of course, a hedge fund has higher fixed costs, so you need more capital to...