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US standards... since that's what we are moving away from...

Where do you get your freaking information? His friend is definately accurate when it comes to actual institutional (asset managers, hedge funds, sell side) trading. There are sales traders, execution traders, and portfolio managers (which is what I think he's referring to the last category as)...

Did you not even read the link you quoted? They mean the IFRS, which is a set of standards adopted by the international accounting standards board and used by the EU, Hong Kong, Australia, as well as Turkey and Russia and etc. This is a move to harmonize reporting standards. Try to keep in...

By legitimate, I don't mean whether he's a crook. Rather, what I mean is that does he really have some deep insight into the market. That's a question that you can't possibly answer (no one can; if otherwise, and you are able to judge what a good manager is, you can be the best fund of fund...

This isn't particularly smart. A nine figure self-started hedge fund is admirable from a personal achievement perspective, but completely fringe and irrelevant in the actual finance world. The problem with going this route is that if this manager's methods end up being nothing better than decent...

Um... how do you place a link to... real life? The middle office trade support staff at my firm pull in about those numbers after two or three years.

The analyst classes for every year at these banks have plenty of ivies, but also plenties of other decent non-ivy schools (NYU, CMU, etc)... with a vast majority of them not entered through family or connections... but what's your point exactly? If one doesn't have to chops to get into these...

Wrong again. Starting salary for sales traders in NYC (right out of school, no experience, investment banks) is around 60-65k. London historically pays slightly lower than nyc (until the exchange rate kicks in)

No buddy - you are mistaken. This ad is for something not at all what is traditionally considered sales traders (despite what it says in the title, which is followed by telesales? telemarketing? good god no. instituational sales traders go out and see their clients all the time with analysts and...

In my island example, I have shown you how money is worth less WITHOUT inflation! The island economy's money supply (the 100 coins, don't change). The only thing the island has is production (that is, if you plant 1 ear of corn, you might get one or more back at harvest). Interest might...

What are you talking about? In this case, the island economy has NO inflation by definition (since the money supply, the 100 coins will never change). AND, we also assumed that the borrow will give you back the money he lend you. Yet, under this regime, there HAS to be interest or you, the...

You invalidate centuries of thinking based on a story you heard? How about this story? Let's say there's an island that has exactly 100 coins used for exchange (the number of coins will never grow). It produces one kind of good and consumes only that good: corn. Morever, an ear of corn can be...

Point taken buddy - but I'm just trying to earn some cash from this guy; It's pretty obvious that our "logic" is circular and therefore won't work on him and our knowledge is corrupted by some magnificant idiocy that he alone can see through.

Yes - you keep saying these things; But much like an elementary school student, you don't show your work and hope to pass on just your say so. You still haven't answer the fundamental question of why, if you believe what you believe, you are not accepting my proposal for a loan?

You still keep going on about interest rates being unnecessary (I have a vague feeling that you don't really know how compounding actually works; or what interest rates really are; and I'm certain you have no idea how the banking system really works) - but why haven't you accepted my offer to...

You would be much happier. Not me. You. You are willing to constrain the happiness of everyone on the planet to your own preference. So not only are you unable to grasp the concept of opportunity cost (and instead cast it some sort of an evil conspiracy much like the primitive man would...

When you say a loan with no interest, do you mean that the bank lend you $100 with a term of 5 years, and you just have to pay back the $100 at the end of the 5th year with no additional fees or costs? If that's the case, can you point to a single bank that will you point me to that bank...

Seriously... I think I'm being a bigger idiot than your "proposed economic system" by replying, but good god you are missing basic logic. By your premise, how about you lend me $100,000 and I'll pay you back in 100 years? Meanwhile, I can take that $100,000 and go start a business or invest...

Sigh.... why do people insist on using words they don't really understand.... expected returns can be empirically derived through backtesting. Nope. What you are about to describe isn't backtesting. It's just computing the the sample mean. An example of daily expected return can be...