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Nothing misleading about it at all. Dr. Fauci and the US Surgeon General outright lied about masks to the American public. That is a fact, that is incontrovertible and has been admitted directly by Dr. Fauci recently. Really doesn't matter if the purpose of the lie was to stockpile masks for...

Three points that cost lives: 1. China lying to the world for six weeks and allowing international travel out of Wuhan. 2. The WHO taking China's lies at face value and legitimizing those lies and trumpeting those lies to the rest of the world. WHO suppressing any dissenting opinions from...

Great points as usual, Sig. The other salient point is that Hedge Fund Research, for whom Bloomberg and other media companies use as a reference - doesn't even bother tracking Hedge Funds with less than $500M AUM. I tried to do a deep dive into their data, and of course it's a subscription...

If you're a smart investor, want you ideally want is a very good trader with a track record trading big size at a big firm and you want to be in on the ground floor as an angel investor with some minority partnership privileges earned by bringing in other investors. Those are the investors that...

Your point is completely valid for medium to large funds. For smaller funds it's not really the case. If you can catch an experienced trader from a big firm with a great track record (like a John Arnold) who starts his own fund and uses his own capital in the startup it can be a great...

And I would argue that spreads model more consistently (and "behave" better) than flat price outright markets.

Sure, but does anyone really know if the broad market is going up or down? NQ vs ES has been paying out on broad market up days and its been paying out on broad market down days. It's about sector rotation and relative value.

Yeah, if you have a smallish newish HF most likely your client/investor partnership agreement is set up for monthly fees and likewise the investor can withdraw his investment at the end of any month. And where it gets awkward is when you go from twenty investors to ten investors - the legal and...

In spirit I agree with you 110%. The problem is that there are HF investors who go from "hot hand" to "hot hand". Which makes it really hard for a newish smaller fund to keep afloat - even with an above average track record. You don't get to set restrictive investor terms like "withdraw...

Being long NASDAQ and short S&P500 as a weighted spread has been one of those "once in a career" trades. Relentless.

Yeah but you can deduct the cost of the seat as a business expense. I've done it and every CME seat holder has done it.

Yes, that is the point I have been trying to make throughout this thread from day one. If you are a Commercial with inventory who can make or take delivery - then ridiculously thin gappy illiquid markets can be somewhat manageable. But alas you are not.

No meaningful volume at price. Legitimate Support and Resistance requires significant volume to be exchanged at those price levels. The risks are extraordinary with a futures contract that thin. The execution slippage and the complete lack of liquidity when you need it is a disaster. Markets...

It’s always amazed me how day traders and Algo traders will do crazy volume and they never consider leasing or buying a seat.

The Sept contract - the most “liquid”; traded 575 contracts on Friday. There is no meaningful “support” and “resistance”. None. All of the legit commercial volume is done OTC.

I had clients with funds at both PFG Best (one) and MF Global (a dozen). Yes, they eventually got their funds - but it took months of high anxiety, waiting, and worry. For many of them it took them out of the markets until resolution.

The ECB introduced negative rates in June of 2014 and they have no clear way out. For the price of successfully weakening the Euro/Dollar FX rate Eurozone Banks have not been able to shore up their fragile balance sheets. Draghi got them into the quagmire and Lagarde doesn't really have a...

a "Z" is just two overlaid "V"'s. :D

EIA Raises Brent Crude Oil Price Outlook By Julianne Geiger - Jul 07, 2020, 3:30 PM CDT The Energy Information Administration raised its price outlook for Brent crude to $41 per barrel for the second half of 2020—this is $4 per barrel higher than the EIA’s forecast last month.

How likely do you think that SPY will trade 250.00 again? (Which would be a 20% decline and well within the established 2020 trading range to date)