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True... Sorry but that calculation is not entirely correct. If you earned that and you have a 4 family members you would take that number split it by 4 and then calculate the tax on that amount. So it means you pay 4 times the tax rate of 10,500. That band is 5.5%, mean you would pay...

Having witnessed many different healthcare systems... American, Canadian, French, German, Austrian, Swiss, British, etc... It does not matter which one you look at. If it ain't funded it ain't worth crap! The French system works and I do agree it works, but it costs! The other problem...

Interesting trying to discredit me to prove your point... Interesting indeed...

For the record... The IB I worked at did not receive government money! And their profitability has been pretty good considering how big the mess has been. So I guess they did something right...

Thank-you somebody who gets it... I especially liked the comment: Those who remain are going to be in need of original ideas... It is that step that costs lots and lots of money... Not that it cannot be done, but it costs. The IB I worked for did not want to be number 1. They prefer to...

I agree the bulk of any volume is the market making, the hedging, etc. What I am referring to is what I saw on the team.... Let's say that you can make X returns for Y expenses for market making. Now imagine instead of market making you do structured products where you make X+1 returns...

BTW while I might argue that High Frequency Trading is a fad, I have nothing against it. In fact the more the merrier is my motto!!! I don't consider high frequency trading a devil... Actually it helps me with my investments, though I have had to change my investing style.

I would argue yes and no... Quants build models and fit the world to the model... Algo traders build models and fit the model to the world.... Algo traders are very pre-occupied with statistics, probabilities, etc. Quants are very pre-occupied with building models that recreate price...

If the average investor cares about 3% then they are taking this too seriously! As an investor I aim an average of 25 to 35% return on my equities. Some like Ford are making me 400%, and others like GM cost me money. Focusing on the 3% is focusing on timing and if you as the investor are...

First I was not a risk manager. Second the team I was part of was drum roll.... CUSTOM PROGRAMMING!!! You see the way that the teams were split up were according to business on one side and software on the other side. And in the software it was split up in products. And I guess since you...

My answer to you is forget it. Its a fad... Yes yes there are some cleaning house, but this is a fad until the efficiencies are wringed out. I worked an investment bank and was in the same team as those writing market making and high speed trading systems. I myself worked on the risk of...

Since I used to work on risk management desk... I actually wrote the algorithms that manage the OTC positions for an swiss investment bank. Answer is that they have computers to manage those positions. It is not that difficult to manage those positions and exchanges want you to do that...

First you are not correct in all of your facts. ***** http://www.bobsguide.com/guide/news/2008/Jun/20/UBS_banker_'smuggled_diamonds_in_a_toothpaste_tube'.html On one occasion, the banker even agreed to buy diamonds for an American client - and to smuggle them out of the country in a...

All of this depends where you live. If you want to live in the states you need a permit. You can prop trade in Canada. Actually from a taxation and regulation perspective you are better off in Canada. Canada is easier than the States, and the liabilities are lower. Don't even think of living...

Seriously, as much as this is interesting, actually is. How is it calculated...

Let me guess... 50 shares of WMT? If you put in LMT order for a specific price then that is the price you get. To see otherwise look at the trades window. There you will see the price without commissions included.

He was saying the sky is falling, the sky is falling... Not that the market is going up and he is caught with this pants down he calls this a bear market rally! Yeah that makes sense. So a "bear market" rally to 50,000 is a bad thing because we are going to have what problems? This is a...

You know what always amazes about naysayers is that they don't know when to quit. They are just as bad as those bulls that don't know when to quit. >I'm expecting things to get much worse, as the spending/saving/consumption patterns still have not caught up to the still rising unemployment...

No it was not Bush... Bush was an actor... But also played a critical role is LTCM... You might think, huh? How does LTCM fit into this? Go back and look at the story. LTCM was a huge failure (ok peanuts when compared to what is going on today). But all of the actors of those days did...

Ever since David Faber moved off Squawkbox and got into documentaries I have quite a bit more respect for him. He is doing some really interesting work. Since I have my own ideas of what caused this mortgage crisis, I have to admit David Faber did a spectacular job showing that it was all...