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Keep in mind these all return whatever multiple of the daily return of the underlying index. So set up a spreadsheet to see what this means with some dummy index returns. Basically after 1 day the two positions are going to be unbalanced, so especially with a 3x you're going to have to rebalance...

What exactly do you know about putting together structured products, advising on acquisitions, underwriting IPOs...? What exactly about those activities, which post Volcker Rule is where an entity like GS is making all their money, is illegal or "scamming money out of dumb people". One would...

Today I have eaten my breakfast at 6:30 am and had a bowel movement at 8:30 am. Just thought I'd share some random information completely unrelated to the discussion as it seems like a thing.

It's probably worth a refresher in how book value of assets is determined from a financial accounting perspective. If you owned the worlds only buggy whip manufacturing machine in 1915 and were using the cost model you could probably get away with carrying it at the $X million you paid for it...

They had one on here at one point in time, @IB-AN. When he deemed to answer a question he was...shall we say, economical with the truth, and he just ignored any questions about real issues. Worth a look at the archives, for example the discussion about if you become an unsecured creditor of IB...

How We Make Money? Securities brokers traditionally generate revenue in multiple ways including charging trading commissions, marking up margin lending rates and stock loan, keeping interest on cash deposits, receiving payment for order flow by routing orders to market makers, and marking up the...

Not likely. Sounds like someone who'd never experienced asking IB's "customer service" a question?

That's "ass" here in 'Murica!:D

I think you're reading far far more into what I wrote than what I wrote! There's nothing inherently unethical about banks making money through MM, building structured products, facilitating OTC trading, underwriting equity and debt offerings, facilitating buyouts.... Certainly there are folks...

We had a saying in the military, "choose your rate (specialty), choose your fate." It was generally directed at the guys in the "tough" rates who were constantly complaining about how much harder they worked and in so much worse conditions while the "easy" rates just loafed along and were...

Chomsky left MIT for ASU 2 years ago! I know it's tough, but you do need to keep up with what's going on in the world if you're going to try to participate in adult conversations. Not to mention, wtf does Chomsky have to do with this conversation at all? Where is your degree from, by the way?

How is that any different from accounts receivable? At any given time I have A/R in the millions, about 10% of my annual revenue given that most of my customers are net 30 and a few pay late. My company isn't uncommon in the B2B world, so if you added up the A/R balance of every B2B company in...

Like I said, we could argue that the fed changing rates is different, and I wouldn't completely disagree with you. But if you put your self in the shoes of China, the Fed is pursuing a "self-serving purpose" of optimizing the U.S. economy, just like they are pursuing the purpose of optimizing...

I would question making that assertion based on that data as well. Take a look at China's GDP growth numbers over the past 10 years. Great recession excepted, it's clear that the GDP growth rate is on a long-term secular decline, as one would expect with a maturing emerging economy. There is no...

Actually it's eminently fair and my entire point. The "idiots" are doing what makes money and he is not. That they're not making money predicting bear markets is perhaps indicative that they're smart enough to realize that's a fools errand!

You asked for a basket, I gave it to you. And pointed out that you may very well not be representative of the U.S. economy. You don't have to like the truth, that doesn't make it any less true.

Download the Handbook of Methods at https://www.bls.gov/cpi/ and you'll get your basket in excruciating detail. You may be a curmudgeon who lives in the house you bought in '72, drives your 95 Chevy to the diner every day, and stopped buying new clothes 20 years ago...and believes everyone...

Funny that "these idiots" are rich and you are not, isn't it?

I run a somewhat small startup. My annual income growth was several hundred percent the first year, around a hundred percent for the second and third year, and this year will be my lowest ever at probably 75% Funny thing though, I'm far, far better off today with 75% growth then I was with 900%...

China's GDP in 2018 was $13,605.18 Billion, it's highest level ever. In 1991 it was $413.38B, that's 33 times higher last year than 27 years ago....given that you're clearly severely mathematically challenged I'll do that math for you. Seriously, that's the most moronic statement I've heard in...