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No ... the problems are much more basic than that. It is not that he can't add 2+2 and get 4 ... he cannot recognize that there is a difference between two pounds and two tons.

High praise indeed considering how stiff the competition!

The logic is flawless.

Did any of the lenders get hurt in the MF Global debacle?

Is it possible for a grown man to believe this?

The margin call comes before that if the lenders are on top of their game.

Is that a "yes, he is primarily an investor" or "he is a trader". Or is it a Mitt Romney answer?

Banning it would cause an immediate and severe worldwide liquidity crisis. I do think phasing in some limits -- say 180% beginning in June and 160% next June etc. makes a good deal of sense. My guess is an outright ban in say 30 days sends the S&P below 500 as a result of banking collapses...

No you are not "always playing your own bankroll". There is no shortage of "rounders" and the splits top players can negotiate given just the right star struck asshole who runs a tool and die company in East Bumfuck make playing their own cash totally uneconomical. You say trading is a...

When your primary route to wealth has been a derivation of Graham & Dodd that is where the simple distinction lies. That is not to say he has never done a trade or even numerous trades be he is clearly on the investment end of the spectrum.

Yes ... a thousand times yes! There are times we must suffer through tasks and even periods of time stuck in what we must do. But once there are choices pick what you love.

Nice ...

Recognize from day one that trading is a game with two major advantages over poker: 1) There is essentially no ante. You have a few overhead costs but think of that as the carfare someone pays to get to the casino. Incrementally you pay opportunity cost when sitting tight but not a cash...

Identify the dozen or so institutions that are most likely to benefit from "acquiring" your group. Maybe the list starts with major bracket firms -- Morgan, Goldman, Credit Swiss etc. -- or maybe the next level down. The independent traders here at ET are unlikely to be of any help. Figure...

The problem with Turkey is that while the bandwidth, within reason, is available it is incredibly expensive. And I am not using the word "incredibly" lightly. You are talking about 30 or 40 (or more) times more than what you are used to paying. My information is not right up to date but it...

Is it accurate to say there is little liquidity in CL? While I don't trade it I have the impression that it is fairly liquid. During RTH and barring news how many here are trading a size that CL can't digest well?

So these guys, in addition to the Hippocratic Oath, swore to: "First ... do not too much work"

While I have had a will for some years it required an update so I sat down over the weekend and rewrote it. Given that you are deciding who you want to make more comfortable, the process brings things into focus in quite a direct and interesting way. Ultimately, except for a volume of...

Because there aren't any prop firms that are formed as not-for-profits.

In the US it is impossible for the accountant and the auditor to work for the same company or in any way be related parties. audits MUST be done by independent auditors. Once an accountant makes even a single entry in a firms books he is barred from auditing those books. I suspect the same is...