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Typically the SPX sells of 8-10% a year and then recovers. So you have to have enough margin to satisfy that. You can margin SPY in a Reg T or PM account 20% of the notional which kind of covers this typical selloff. The ES margin of 4% will almost certainly require a margin call several times a...

And it's likely that Soros donation is after initial taxes have been paid. How about bill gates who just gifted Microsoft stock to his foundation without paying capital gains?

I didn't know Aldi did the same thing. They own Trader Joe's which is rhe Aldis version of s high end supermarket with terrible parking lots.

At least a foundation is required to spend x percent of assets on charitable things. The biggest tax dodge in the world is IKEA.

Freeing up the capital in a buy and hold is meaningless because the spx will selloff requiring you to post a lot of capital to sustain the margin call.

The tax advantages are even greater if you intend to hold for many years. Imagine if you paid 20percent of your gains each year over the last 5 years, how much worse would you do? You can esssentially never pay taxes on spy if you hold all the way till you die and then gift to your children.

Mid 90s or late 90s?

Better tax treatment. Fewer transaction costs. In fact buying ES for buy and hold is profoundly stupid.

Remember when google's motto was "Do no evil" and we happily gave them all our search information ?

Yeah. I confused the two.

I thought it was an insurance company out of the U.K.

This morning (at 10:30) my pnl was down 30,000. Of that, 20,000 was dumb marks meaning I'm really down 10,000. Right now my pnl is -5,000 and bad marks are -10,000 and +15,000 meaning, I'm really down 10,000. This makes sense but I have to spend more time verifying that something in my single...

Hang out with me in politics :)

They want to run you out of town. You are too insightful.

Were you experiencing unnecessary volatility as a result? A two dollar change just because bidask widened out in a single stock are a lot of vegas

yes. It’s noise and it is creating fake volatility in my pnl. Otm options are specifically affected because bid ask quickly widen to 5 dollars moving the value of the option up 2 dollars. This fake volatility is creating extra work because I have to sift through it to see what my pnl drivers are.

"My childhood was typical. Summers in Rangoon, luge lessons. In the spring we'd make meat helmets."

Exactly the problem that used to not occur under the old methodology. My platinum advisor said that if enough feedback is negative they might change the policy back.

And the vix settlement Is a joke because Goldman and others would manipulate the mids by pushing down on offers or raising bids.

Strictly PA now. Was institutional as an electronic market maker and then a prop trader for a major bank.