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What exactly didn't work? Capitalism? Leverage? Monetary Theory? Keynesian Theory? Anti-Capitalist Measures that distort economic incentives? Capitalist incentives that are not aligned with "societal welfare"? Because all those things are contributors of the current problem. And the Austrian...

That's not exactly a logical statement is it? Just because whatever system that led us here (not that there's a single system that led us here; rather a combination of a somewhat different and contradictory systems) didn't work doesn't mean that another system - the austrians - has the answer...

I see - anyone who disagrees with you or your personal savior is a fool, an idiot, and a moron. Good to see the high level of discourse here.

Of course - because one smart idealistic (medical) doctor is the obvious messiah with all the answers to the complex problems of modern economics . I almost forgot that he also read a bunch of fringe economics from those silly Austrians Same populist bullshit, slightly different flavor.

highest since 1990 was 106 in 2000

Can you explain this joke to me? I don't mind a good chuckle at my expense if it means that I at least get a good laugh out of it. So you described a bubble (which is me, apparently) that eventually... busts... and then promptly informs that it's not gold.... Btw, if you got more ivy educated...

Um... you said, "Everyone knows most futures trading is just for trading, recently Asia countries like China and India are demanding to deliver real gold".... I'm not sure where the punch line is.

... This guy is living in an ET-collective-fantasy of what a quant/trader/whatever at an investment shop do... Was he also the guy who claims that the "asians are breaking futures market rules" by taking deliveries of the spot at maturity? because futures "are just for trading"? What a joker.

And more people die of heart attacks. What is your point, exactly? So our level of indignation should be correlated with the number of victims rather than the extra-ordinariness of the act? Moreover, what exactly does expressing outrage over an unusual and abhorrent murder have to do with...

What in the world are you talking about? Drunk driving is also a huge problem in England, in Russia, in China, amongst other places. No one in the US thinks drunk driving isn't a problem. The issue at hand is that this "father" hides behind his religion/culture (or some distortion of it) as...

i'm indignant in both cases. But you know what, I find it far more horrifying that culture/religion is used as a justification for murder. A drunk father who kills her daughter has no justification for his actions. A father who murders her daughter and justifies it based on some tract or other...

Are you trying to be troll? Or do you not see a qualitative difference between (A) killing your daughter because she violated a religious law and expects (under his cultural norm) to be free, and (B) some asshole acts irresponsibly and accidently kills someone, and will go to jail if convicted...

... and then try to repatriate that account and see how easy it is... moreover, what have you accomplished exactly? exchange into rmb at the ask and then out at the bid... of a pegged currency?

1. Renminbi is pegged. so there's not much of a point (unless you are speculating that the chinese govt will allow it to float or strengthen) 2. Capital control. Renminbi is not freely convertible

The last few months were characterized by very heavy fund flow into fixed income. Asset allocation is already done. And I tend to agree with the idea that there's not a lot of cash on the side. Institutional managers (especially hy) are now practicing hedging with CDS rather than explicitly...

As in typical corp bond analysis, I split IG into tsy + spread. In terms of spread, IG - specially industrials - is back to where it was in mid 07. At the very best, it might not back up if equity drops (an actual drop vs down 5-10%). I expect it to back up about 50bps to 100bps depending on the...

High Yield and High Grade bonds will both sell off when equity sell off (both have rallied quite a bit since March). Asset allocation will not kick in for some time (consultants will wait at least a quarter to see the results, and then fire their existing managers, and then search or do DD on...

Okay. First, I'm not a sales & t; So let's put all the resentment aside. Second, you said in your earlier post that I was wrong and that vol ratio is when there is no correlation; That's so nonsensical that it's stupid. But please, show me how that actually works. A pair trade requires that...

wtf? I was showing that under the cannonical derivation of beta hedge ratio, the vol ratio is the beta assuming 100% correlation, which you argued is incorrect. what does any of this have to do with constant volatility? And for the record, my simple derivation doesn't assume constant...

Yet not busy enough to start craptastic posts that only belie your own ignorance in the financial markets (not that I disagree with your core point that day trading is a loser's business. flame on).