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This makes a tremendous amount of sense to me. This is a difficult subject to even form an opinion on but this strikes me as at least close to right.

A friend of mine bought a boatload of Coke Cola coincidentally shortly before Buffet took a major position. He loved the company, thought the common thinking that Marlboro was the most valuable brand on the planet was nuts and also thought that given they did business everywhere they were...

It always amazes me that people can look at the very rich and not understand that they spend a fair amount of time, energy and money being hedged politically. Even some of the fairly rabid ones keep an open avenue to the opposition. They all know what class they are in and that ultimately...

You can't get the trade off, if you could it would be MTM taking out all the underlying under capitalized players -- think MF Global -- and, even if all of the above were not true, the premise of the trade is blind faith; never a good idea. I'm not trying to be a dick but if this is your...

Never traded OPM but the part about being relieved sounds right -- lol. I almost can't believe that would be the case but in my heart I know it probably is!

If it is all back test and not at least some months of real trades you have to be crazy to take their money. Put up your 20K and trade. Six months or a year from now you can take a modest -- very modest -- amount from those you know who can afford to lose every last dime the put with you...

They actually called it the "bum-of-the-month-club" but the implication was clearly that next to Louis they were all bums. But I am sure that there were some that thought Louis fought all weak opponents which of course is nonsense. My father who was a huge fight fan thought Louis was the...

You must be kidding -- Belize? Why not send the freakin' wire transfer to Nigeria!

What qualifies as noise is largely irrelevant to success. The key is to isolate those data points, patterns, structures etc. that produce a positive expectation for you and then exploit that to turn that expectation into consistent performance within a risk parameter that matches your capital...

I agree 100% about not caring who people support. There will always be a range of political opinion among the rich (and poor) and someones professional accomplishments are reality in that sphere. Do I care if Babe Ruth was a socialist? If he was a gay socialist cross dresser he still hit 714...

I think what you must have meant to say is that you know you are playing with fire and what you shall see is whether you get burnt. Probably not but who knows?

If I knew it was that easy I would have done it just as you describe. I thought that it took real talent to make that kind of money. Are you totally out of your mind describing this type of accomplishment as if the guy just did this and then he just did that and of course he made a few...

This guy was successful for well over a decade and has decided to cash out. You make it sound like he had a couple of lucky years. It is pretty hard to have a lucky decade. And the size of the win has to be counted. He didn't make ten or twenty million and, more to the point, he left the...

Particularly huge for system that many touted as the world's strongest. Love the Fed or hate them they've got some broad shoulders to carry the entire western world!

Whadda ya gotta do to get your props? Pretty tough review of a guy that had to be awfully right more than just a few times. I know nothing about the man but I will hazard a guess that this is one smart Texan!

Doesn't almost everyone want you to believe they don't trade against? And then, somehow, almost everyone effectively trades against even if the have to interpose another MM.

I'm not sure it is actually the bible but Amazon has Charlton Heston hand deliver it!

I had the impression that the Canadian banking system was a haven that major players used for demand deposits rather than US institutions in 2008 / 2009. Turns out they had problems rolling it over as well. http://www.huffingtonpost.com/blackberry/p.html?id=1466219

Yes ... Gladwell is his name. The old adage -- "sticking to your last" -- has been known to cordwainers and cobblers for a millennium. While the profit from perfecting a trade is important your description of how much it can teach you illustrates a valuable by product. It's hard to learn...

Enjoy it. It's that simple. Most things have a good side to them and find what it is about this dynamic pleases you. It might be a nooner with the wife or girl friend or some caviar and a glass of wine mid afternoon as you trade once a week. Or all of the above. Being businesslike is about...