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I don't think a generic portfolio construction approach will depend on the nature of the strategies or the underlying process it is applied to. At least that has always been my understanding...

Why does it matter that the strategies are trading the same asset? Isn't what you have a generic portfolio construction/optimisation issue?

BTW, I would highly recommend the documents that have been published by the Senate. Pretty entertaining stuff!

Could be, although this is one of many possible interpretations...

Yeah, although I am not sure you really meant to include C in the second list... But it appears that the very same value investors with good records that so loved Pearson and hand-picked him to run the company suddenly have fallen out of love with him and got him fired. Wouldn't you say that...

1) Yes... The same logic could have been applied to Lehman, Fannie, etc etc etc. 2) Indeed, although "new" doesn't necessarily mean "better" and/or "different" 3) Well, the historical record of this particular famous hedge fund manager doesn't suggest that his involvement is a guarantee of...

Right, so we go back to what I said earlier, don't we? Specifically, it's not just the outcomes that matter, but also their probabilities. Assuming 50:50, which is what you're implicitly doing, is pretty arbitrary.

Why would you say that? In theory, any stock, in the same sector or otherwise, can double, triple or quadruple in price for whatever reason, no? Why is VRX special?

Whoa, mate, this is some weird sh1t right here... "Top 50 fanatical institutions"? "Democrats vs the Conservative party"? "FED has his numbers"?

Uber isn't in debt. Equity != debt. 100% gain vs 100 -300% loss outcomes that you describe don't necessarily make VRX a bad short. After all, let's not forget that you need to apply probabilities to those outcomes.

Whoever "they" are, they're a bunch of drama queens...

The cumulative odds of a rate hike in 2016 moved by all of 2% today...

Who says it isn't?

Ingram was a criminal?

Is Ackman in control a good thing? Just wonderin'...

These flies are an expression of the shape of the path of rates, rather than levels.

1y fwd EURUSD, you give up arnd 155 fwd points (mid)... That's 1.35%, which you should be able to afford easily, given you're earning 10%. That's the most direct, risk-free way. You can do this, for instance, by trading the EUR futures. Even the less liquid distant contracts will only cost...

There are no hard and fast rules... The picture is especially muddled for the FTSE, since a very large percentage of revenues generated by the FTSE constituents comes from outside the UK (75% or more vs 33% for the S&P 500).

For the record, my comment was just an observation, rather than judgement...

It will be hard to bet against Warren Buffett/BH... If only because of the fact that he's a big stack bully, to use the poker terminology.