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What an awesome scam! I want in! For a low fee of $29.99 a month, you can have my thoughts on market positioning and my trade ideas (of course, after I have executed them). For additional $5.99 a month you can have variance and vix dealer positioning and vix/variance trade ideas. :P

yup. if you are looking for yield vol, just do the duration adjustement trick

How is it elitist? I am merely presenting the math and if you can argue against it factually, please feel free. The only arguments I see are that either the rate of return could be higher or that it's easy to set aside 400 bucks a month when your total take-home is 2-3k. PS. the data on...

What I see is that employers actually compete for top talent, even at the very junior level. Which, oddly surprised, is consistent with the new normal - you either are a skilled talented professional (top 5-7%) and get highly paid jobs, or you are not and struggle to survive. Personally, I...

Probably, maybe even less. I would say that out of the whole educational landscape, at most 10% provide you with value. Everything else is just a way to take a few years off after high school.

I am pretty sure MIT/Columbia/Cornell CS graduates get multiple offers before graduation. In the worst case, they can always go and work for the government, e.g. Citibank :) PS. Unemployment among people who have passed actuarial exams is virtually zero and they get paid fairly well. Yet we...

I don't. I knew a guy that quit college to open a house renovation business. It was all going well until 2008. He's back to school now, hoping to become an accountant.Risk/reward in most cases it's not favorable to small business owners.

Ha, is that so? You graduate at the age of 18 and work to the age of 65, so thats 47 years (564 months). I think for someone without any financial knowledge, 5% per year is as good as you can get it in terms of reliable returns (even that is pretty hard). So, to be a millionaire by the time you...

Out of all non-numeric and non-business degrees, Psychology is (maybe) the only one that has value, under assumption you went to good school. I used to see a therapist, she graduated from the H school (same year as yours truly) and after getting a PhD in clinical psychology, was doing pretty...

Sure, you can become a day-trader at the age of 19 and pretend that you are super-rich on the internet. The reality is, however, that your best way to become a millionaire is to get a highly paid professional job (doctor, actuary, corporate law etc) and and start your own business when you have...

I have yet to see an unemployed actuary, or an unemployed programmer with a degree from a good school, or an unemployed anyone who actually learned something useful in school. Good education is still the best investment a young person can make. So yes, taking out student loans for Columbia...

Impressive. Most option sellers I dealt with as a market maker did not fare well (I can't imagine how you could have done well being short any risk premium in the Fall of 08). I do like selling vol myself, but on a very select class of assets where vol is unreasonably bid and I have some many...

How did you fare in 2008 and over the last two micro-crashes? PS. if there is one thing option selling is not, it's dull. It's 99% of boredom, but 1% of sheer terror.

Yes, that's the Citi way - buy at the top and sell at the bottom...

The basis might f*ck you up - bond yield can go further down while mortgage rates will not follow.

I doubt anything you say here would contribute to any P&L in my book. In any case, I was merely trying to understand why you are calling "Conservative Options Trades" what in my world qualifies as naked put selling. The logic that you use is unusual (and I would say somewhat wrong), but maybe...

I am not sure what "net seller" exactly means. If someone trades term structure only (calendars of some sorts), is he a net seller or a net buyer? Even saying "net sellers of risk premium" does not say enough, though it says more. From what I have seen, the guys who do really well over time...

TLT puts it is. You are trying to hedge a 30 year mortgage which has an WAL of about 15 with TLT, which also has duration of about 15. So, you just need the same notional amount to hedge. So, 250/119 which is about 2100. You approximate cost of hedging would be 15k if you buy ATM puts - you have...

no, it was blocked and i can claim it was a typo ... my junior told me that I am missing a lot of interesting things in life if i don't know what this is

dude, please don't do that! some people did not know what tube8 is and pasted it directly in the browser...