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What is sickening about Einhorn is that his high water mark resets every year. So next year if he makes a few percent, he will be back at collecting 20% fees again. Its ridiculous

If the account is in the name of a corporation, the client personal assets are protected, correct?

I have backtested an asset allocation portfolio involving the SP500, bonds, tbills, and the putwrite index. I asked the computer to come up with great % allocations in a portolio from 1987 to 2016. the putwrite index added little to no value. and that was before taking tax considerations in...

Thats why perma options selling sucks, you are forced to stay super small in size so the profitability (when it exists) is not that significant. The alternative, like this guy did, is to lever up and sell more options than its prudent. It might work for a while but one day that will bite you in...

Today I'm going to swap half my VWO position into EWZ, the other half I sold a few weeks ago. I'm getting quite bullish in Brazil, the new dream team being built by the president just keeps getting better. He just nominated another Chicago University PhD to run the largest state bank (BNDES)...

Its in fashion to be a bond bear now but I heard an interesting counter argument. We know for a fact that there will be a recession in the next 10 years. When that happens, Fed funds will to go 0% and maybe QE will be done. Furthermore, that 0% will last for at least a year, maybe two. That...

It seems to me that for those folks that went to minimize volatility, just subscribing to the money/stability illusion of cash is not a good idea. It might be a better idea to have a conservative allocation to different assets in a way that preserves the month to month stability but it still...

Here is an interesting fact, since 1926 to 2016 the maximum real drawdown of many different asset classes in the US were the following: US stocks -76% (1929-1932) US 10y bonds -57.55%(1941-1981) US T-Bills -48% (1933-1951) Gold -83% (1980-2001) However when you combine them in a way that makes...

Power Laws " Just five companies out of the universe of 25,967 in the study account for 10 per cent of the total wealth creation over the 90 years, and just over 4 per cent of the companies account for all of the wealth created."...

I suppose this would depend on what type of ROI one is referring to. In terms of $ ROI, its hard to beat short-term trading. Most excellent traders I know are 7 figure traders (a year), that's hard to generate in a job, maybe its possible in a bussiness but its going to take a humongous amount...

I didnt verify, but since I had been trading for years when I contacted I had a pretty good bs meter. I did ask them if they had made at least $150K a year in the previous 2 years in order to make the cut. All but two had (the two being Eric from Nanex, who is not a trader. And the "Former...

Hi, I'm the author. There are some ET posters in the book, from the top of my head atticus (who now posts under destriero), Jeff Goldman (he used to be a sponsor IIRC, and made a number of posts), I believe Dennis Dick had an account as well but I dont recall which, in any event I came across...

Berkshire Hathaway repurchased $928M in stock during Q3: WSJ Nov. 3, 2018 at 8:48 a.m. ET by Tonya Garcia Buffett buying back shares as fast as he can (without affecting the price a lot), he is effectively saying the stock is undervalued

Yes its ridiculous what the media does. I read a theory that this had to do with the rise of Google and Facebook and them eating the old's media lunch in advertising revenues. Old media was starved of cash, as a result fake news was born, as was throwing away all the ethical considerations when...

Brazil president elect Bolsonaro is building a dream team for his cabinet. Guedes (an excellent economist, with a PHD from Chicago university) as finance minister, judge Moro for the ministry of Justice. Moro is the judge who was responsible for a number of high profile convictions of...

The theory is that since if the stock is up a lot and the float has rotated, its easier to move the stock higher as its likely that most people that went long the stock before the it was up a lot, has sold into that rotation (to lock in gains). so you have a 'new' shareholder base that will be...

I bet you are him, or you are an associate of him

Cool, I guess I should have done that. How would you have played if you wanted to express a similar bias?

I got in at a -0.5 debit which was more than I expected. Spreads were quite though at the open. By my calculations I'm delta positive and pretty much neutral on the other greeks (slight short theta). Any way I could have done this play better? I guess I'm not short vega even though that was my bias

At $32.5 I think the stock is a good bounce candidate/value play, Constalation paid quite a bit more than this for their stake and the stock is down a lot very quickly. I also think realized vol will come down as it tends to happen after the big catalysts pass (This time being CA legalization...