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Discretionary, directional, futures firms? Not spreads, not hedging physical treasuries but trading futures.

How many firms are there that are willing to do a 50/50 (your number) with no capital up from the trader? It simply sounds too skewed toward the trader's interest and a very high risk business model. If those type of deals are available and if a trader thinks he is ready to move from one...

So his conservative construct of one contract per 10K gets traded in for 40 contracts on his 25K of equity. What happened ... he went from riding a bicycle with training wheels to a turbocharged formula one? Or does the firm allow him to draw down their capital while his is exempt from loss...

The concept of a syndicate bid was written right into the securities acts of the 30's. Yes ... it is manipulative but like many things in life a bit of leeway is part of how a system stays functional.

Given the amount of "retail" leverage available in futures unless people are trading spreads or other hedged positions what can a prop shop provide? It is inconceivable to me that another layer of leverage could be added. Unless the deal is outright directional traders need not apply i...

Much of the time austerity is stupid. But to constantly be in an expansive mode as the West has been since WWII is insane. It seems that everyone forgets that Keynes never suggested that you could go from one round of spending and deficits to another and do that ad infinitum!!! Austerity...

OK ... we are on the same page. Microsoft had over 90% of the OS market at one time, John D. Rockefeller had over 90% of the US refining capacity at one point. Liquid world market are huge almost beyond comprehension. No one is going to do 5% of Chi's volume. I think for an individual to do...

The OP said "Priston is, or was, singlehandedly responsible for a major percentage of the Chicago's future market." Take out the calculator and just add up ES, ZT and ZN. Just those three account for some pretty big numbers. Your talking Chi ... not East Bumfuck!

This is ridiculous in it's face. You don't really believe any individual (even the head trader at a large institution) could ever be responsible for "a major percentage".

It is quite a good point. There are few consequences in our society.

You are not in a court of law. Assuming your suspicions are significant in your mind move on. You do not need proof ... you need comfort. And you do not have that.

Given the shape Penson has been in for the past year do you think that they would clear Pee Wee Herman if he called them? Why make a fool of yourself repeatedly?

Yes ... IB is more than solid. It is a natural for where you are at. If you knew the CEO at one of the "bulge bracket" firms and you could open up there it would still be a mistake. A $500,000 account may be 20x what the average account is here at ET but it is not even a significant account...

Why not 45? Achilles some of them actually believe all you would have to do is pass the legislation and 45 it is!!

Very interesting post. It helps the debate a great deal to be able to illustrate that not only is not all austerity equal (UK not equal to Estonia) but that there are ways to implement austerity that produces results that at least begin in the near term. The common wisdom seems to be we need...

But, trefoil, if he were not a citizen and even if he had never set foot on US soil he could have filed and won his suit. Having a judicial system that is available to all and is perceived to be a reasonable and fair one is bedrock to investors the world over -- ours passes that smell test...

As a very young man he put in the highest of high risk capital into his friend's deal. Takes some balls. Your post makes it sound like he conned someone or came up with a suit without merit. The fact that our judicial system is considered fairer than almost any other for US nationals...

I'm not suggesting it will be impossible (or even necessarily difficult) to know when it has begun but all of the resources of the falling empire will be devoted to obscuring the fact that it is crumbling.

First ... I think this is brilliant beyond measure: Comments Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against...

One prominent economist once asked a colleague how long a depression could last. The reply was "how long did the dark ages last". When an Empire falls it is essential that another with the broadest of shoulders be ready, willing and able to SEAMLESSLY take the mantle. The current world...