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Actually, if your strategy TRULY works, working for a fund is the way to go unless you are awash with capital. It's better to have 10-15% of a multi-million PnL than a 100% of a few hundred grand. You know what this is an example of, right? :)

You, dear Sir, are an asshole (regardless of your political persuasion).

You actually own a physical Sparc station? Oh my God, how much I wanted one when I was in college... On topic - OS X is great if you are on one hand a U*x lover but on the other hand you want to avoid tinkering that's involved in running a Linux box. Seems like every serious software dev (which...

Yup, by 0.25% and all the estimates go down to a single human in precision, e.g. voting age population of "253,768,092" (lol, what?). Which makes me wonder what their sampling error is in real life - I am sure it's on the web site somewhere. For example, I did not participate in the census...

It certainly sounds like machines enjoy taking yours, more than anything else.

Monkeys pick bottoms :)

Could you give a coherent argument why and how "machines" have increased the volatility? If anything, volatility has been lower since the "machines" took over.

It's an opinion and it brings up some valid points, but there are flaws in any approach and Volcker rule is not an exception. However, there is certainly evidence that when the banks were allowed to warehouse risks, they have fucked it up big time (having worked as a prop trader at multiple...

Actually, banks not providing liquidity is exactly what the rule is all about. It is designed to prevent undue risk-taking by systematically important institutions. There are plenty of liquidity providers that are not systematically important like hedge funds.

Because FedFunds futures seem to think so to the tune of 60%. On a policy front, they need ammo for the next time they want to cut, so they have to hike aggressively while they still can.

I'd go further, by some metrics it's the most liquid options market in the world.

I don't know about "different places", but I would be very, very surprised if any of the currently operating OMM shops have any production code that's older than 10 years. Alpha and infrastructure in that space (both OMM and AMM in general) decay very quickly and you have to keep up with the...

Without looking at the actual rates, there are two possibilities (a) term rates vs overnight (March is 3 month away) (b) cross-currency basis (yup, it's a real thing) My prior would be that there is no arbitrage in that market unless you are a retail broker raping your customers

Ewwwww...

MF Global was also investing money in "government securities" :)

My career goal was to be a clown at McDonalds, but they cancelled that position and I had to settle :D Good answer, even though I was not asking for specifics. Broadly speaking, the edge can come from three sources - investment/research process, lack of competition and a structural dislocation...

The poor performance is in big part due to the unsustainable push for large capacity and economy of scale. Used to be that a PM group making 20-25 is "big", while these days a large platform wants 50 and over just to consider you. It's the same story all over again - some equity L/S dude makes a...

I don't think that's what the OP was asking for but even if he did I would also seriously doubt that any model from the 80s still makes sense in the modern volatility markets. I am not a subscriber to the "great theories of everything" but let's assume you found it. Is the final goal to be a...

So modeling the dynamics of the volatility using some form of stoch vol model? Are you planning to make markets or primarily take concentrated vol position?

It does indeed, but in this case you should not believe your eyes since the formula they use is the formula for the fair strike of the variance swap.