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I've had a number of high 5-figure down days (it was only a 1.5% loss but the size of the number still shakes you). The best way to approach an event like this is to take a week off and let your emotions clear. Then examine what happened to cause the massive down day and correct the situation...

Exactly. And how much better it could be if Social Security taxes had been set aside to gain interest for all these years instead of being placed into the general fund. Congress simply can't control their desire to spend. Human nature I suppose.

The OP is correct as I know someone on the government nipple but good luck trying to find a doctor who will take it. She's got a messed up knee and she can't find an Orthopaedic Surgeon in the entire state who will take Medicaid. Reason? They pay $31 per visit. Doctors would have to close...

Ummm....it did happen on the downside in July/Aug. The market is still open. Perhaps there will be no pain. Perhaps this is the beginning of the healing process? We are smack dab in the middle of a Technological Revolution that dwarfs the Industrial Revolution. The financial crisis' are...

They used to have a terrific Trading program but they've scaled it back in recent years. In fact, that's was drew me to the school initially but I decided to enroll in the Mathematical Finance program instead. I definitely made the right choice. These are the only two classes I could find in...

And mine from IIT :D And just for kicks, I applied to GS a while back as well and included copies of my trading records. This was back in the day when you mailed in your resume. Phone never rang LOL. No Ivy League education even though the program at IIT compares with that at MIT.

One word -- Wow!

The DVD business model is going to be a dinosaur very soon. NFLX is doing the right thing by putting all their eggs into the streaming end of the business. Short term pain, long term survival.

Correct. It's like the PDT rule. How does having 25k+ in your account make you any better of a trader than having 10k? The SEC seems to think money equates with trading intelligence when the exact opposite is true. I haven’t taken the 56, and don't need to as I don't trade prop, but from...

Exactly my point. There are countless people working in X industry who come from a gene pool where an ancestor was successful in industry X but they are still working for the man. Genetics and opportunity are poor predictors of success but obviously it's better to have these traits.

That being the case, I think you would really enjoy reading the Yogananda book I mentioned earlier. If you choose to read it be patient because it doesn't get good until you are nearly 1/2 way through it. If you read it and practice it I promise you will not be sorry.

No. They were hardly successful. In fact, there were dirt poor because the education system was reserved for the elite. They may have had the genetics for Banking or Finance but they were force to swing hammers and other tools to survive. No education will do that to you. Lincoln and...

There is a lot of work being done in this area in the Statistics and Applied Mathematics department at Harvard U, and probably other places. This is just the first article I grabbed off Google. There are many others to read through. You are probably familiar with this work already. There are...

I come from a long line of trademan and miners, and probably ditch diggers from somewhere in the Netherlands. I'm the first in my family to go to college, the first to get a Master's Degree, and the only one to start a Hedge Fund. Could any of my ancestors have accomplished what I...

You can add 1 to that question :D That being said, however, Morgan is a pretty sharp fellow.

So the only ones in banking are there because of a genetic ability? Banking can't be "learned" by those w/o a certain gene pool?

You deserve to fall under the control and oppression of someone like him.

Not a chance. If/when they get this bailout they'll pay themselves huge bonuses the way GS did, all courtesy of the tax payer. Welcome to America. Bend over so you can get fucked by the banking cartel.

And even if you do get audited and assuming you prevail, it's highly unlikely you'll get audited on the same issue again unless your deductions increase by a significant amount. The deduction is well worth looking into as long as you have your ducks lined up.

Because the Government would secretly bail them out. You and I wouldn't hear a word of it.