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I find Taleb boring, completely unusable in my trading and quite philosophical in an abstract way. Reading Fooled by Randomness was an utter waste of my time. A two paragraph abstract would have done.

They sold these as products to their wealthy clients. The banks lost nada (well, they lose assets under management they don't get future fees on).

haha Thank them after they blow you up. It will be a precious lesson for you.

I wonder how many dumbasses blew up shorting JGBs in the 90s with their "surely can't go much higher" thesis

:cool:

What do you think is moving the bonds higher every day? Investors that can't wait to get 2.5% in yield? Or thousands of dumbasses caught short in a "quick counter trend trade" getting margin calls, having to cover.

Seriously dude, what are you doing on a trading forum? You're not trading. You closed your IB account - that means your paper trading account is gone, too. Trading is not for you . Get out. Bye.

Well I will tell you one basic rule that has always been valid, no matter what market we're in: LOSERS AVERAGE INTO LOSERS.

What exactly is the bombshell here? You just repeated what has been written in dozens of articles.

"Wealthy Italian families", probably the majority hailing from little sleepy villages in Sicily and Calabria :cool: Madoff won't be safe in jail.

Same guys that handed out triple AAA ratings all over the place? No thanks.

Well, on the number-of-correct-calls-divided-by-number-of-posts your reading is an all-time best on ET :cool:

Would have to agree with the above. Worldcom and Enron produced massive outcries about accounting firms and fraudulent CEOs, but in hindsight didn't change the investment mentality of equity investors much over the long term.

Trust me, sooner or later the market will find a way to shut you up.

This of course is just a rough estimate, however (in)accurate. It's impossible to know the exact net global long exposure.

I don't care so much about rich Swiss or Hamptonite HNWIs got their pompous asses handed to them but that charitable foundations with millions of Dollars lost their entire equity in this scam is really sad.

The crazy thing - and also in hindsight highly suspicious - is that he only charged trading commissions, no performance fees. Performance fees were charged by the feeder funds such as Fairfield and Kingate that served no other purpose than charging fees and funneling funds to Madoff. That's...

Well, as we know now Spitzer had both his hands full with ahem.. other "matters" :cool:

"If it looks too good to be true, it probably is" Zero volatility anyone? :cool:

A couple of years ago I read about Fairfield's Sentry "Split Strike Conversion" trading approach and was intrigued by the low volatility returns. I tried backtesting and understand the strategy, but I couldn't. It just didn't make any sense to me. Long a basket of stocks and short the...