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There is a definite chance that this could be "the great disruptor" that breaks the world of finance as we know it (e.g. ICOs and coins replacing IPOs and stocks etc). It's a tail event, but than again, people thought that internet was "a bunch of geeks chatting" way back when I first got online.

The dude is obviously talking his own book (well, WE are the killer blockchain app, nobody else built anything useful yet etc). So take it with a brick of salt.

It seems such a waste of time If that's what it's all about PS. Now that I have slept on it, I truly believe that the book is total shit (just like 99% of other self-help and self-finance books).

I assume you are still using an IBM mainframe? That's nicely centralized :)

After TGD, US has effectively outlawed ownership of gold. It did not prevent gold from getting more expensive. I think a far more likely outcome for bitcoin is the "acceptance into boredom". Eventually (that moment is pretty close or maybe even already passed) the financial industry will admit...

There is no need for a binary "yes or no" approach. There are many degrees of aggression, from taking liquidity at the displayed levels, to showing an improved level though mid, working mid level or, finally, to actually be improving on the displayed market. PS. I will venture that you are...

The governments have jailed people for far less, I agree. However, this one is no different from any other mass money laundering schemes, in that it's going to be nearly impossible to untangle the ownership once it has been passed through the tumbler.

No, the spread can be trading either rich or cheap to fair value. For example, S&P 500 futures roll has a certain fair value based on the dividend amounts/dates and the interest rates. Imagine that when it comes the time to roll, the actual calendar spread is trading at a different level due to...

Dude, 8 figure range is right about poverty level these days :) PS. When someone asks me what I do for a living I say "I produce pornography for the Republican Party". After that nobody sticks around and I can go about my business freely.

Actually, spreads are likely to be even tighter. For example, VIX futures tick size is 0.05 while calendar spreads trade with a tick size of 0.01.

Well, apparently the author himself did not really follow his recipe. In 2013, Stanley died driving a Chevrolet Corvette, a car at the time retailing for over $50,000. American public likes a winner while nobody cares about the losers, so the attitude is consistent. PS. Honestly, I think the...

The most common case is when a roll is very rich or cheap to fair (which happens all the time for some futures). Instead of locking in negative value by trading a calendar spread it might be worth waiting for the expiration and re-entering the position after the roll cycle is over and situation...

Not at this office, even the kids that come there are pretty quiet. Unfortunately.

I am kida-of a perfectly wrong audience for the book (qualitatively minded, critical and already in the cohort the author is describing) so I was primarily interested in the message. My sense is that the author wants to get across two key ideas - (a) live below your means and (b) it's all about...

What are people thoughts on this book and that approach to life? I accidentally ended up reading it and was unimpressed (was stuck in a doctors office with nothing else on my phone). The whole book is a mix of "inspirational reading" and oddly biased statistical studies.

The opposite :). Liquidity taker is the guy who "takes" an existing market to get into position, while the guy who is making the market is the provider of liquidity. You are supposed to get paid for providing liquidity, at least in theory. The provider of liquidity is short an option (cause he's...

Even though I am sure it was not intended to be funny, I just sprayed seltzer through my nose :D

It depends on what you are trying to do. If you are looking at anything systematic where you are maintaining a portfolio of trades based on some rules, you want to look at profit over trade value (in whatever terms - ticks per contract traded, % over notional etc). If profit per contract is of...

I had a guy work for me who was a former floor trader, was a total waste of a seat. The floor was an ultimate client rape-fest and most of the skill these guys had was how to rip off the custys. In the opaque world of electronic market makers they can't see flow and there is no other...

Actually, the few guys that I've seen trade these at hedge funds were former PP desk heads. Access to an actual power plant changes the strategy a lot, apparently, but even without it there is a bunch of arb for people with deep pockets (and solid brass testicles).