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Larry Ellison is throwing a fund raiser for trump where for a 100k you can get a photo of yourself with trump.

Buffets return is a cagr. Medallions are arithmetic. The fund returns significant amounts of capital to its investors in order to keep its size small. Comparing the two is the institutional equivalent of comparing a successful elitetrader to SAC.

In more simple terms, the basis would only represent a deviation from the theoretical price. That would result from program trading, efp trades, futures rolls, etc. it would not be related to dealer gamma.

Didn’t you vote for trump because he claimed “America First”

Are you saying you are seeing a noticeable change in the basis and you are attributing this to dealers hedging their gamma? If so, what about index arb and program trading?

Free money!

We had lots of non-ivy students on our desk. However, they were exceptional people. Same with many of the Ivy graduates.

10mm plus punitive. GS hasn’t denied it.

I think it would be impossible without caps on the varswaps. I asked a private bank to quote me 5 year variance (when it was trading over 32) and they wouldn’t do it without a cap (and that made the whole deal prohibitive).

But their interests are generally 100percent aligned with the shareholders. Further private companies can do things public companies can’t. And so you see situations where CEO’s want to take their companies private.

I believe computers are to blame for the decline in returns for institutional money.

It only takes one trade to know if you aren’t following your system. It takes quite a few to determine if your system is worth following.

He banned all the windmills?

These analysts spend their entire days studying these things. They talk to scientists and read research papers. They might even buy a Tesla and dissect it. They will subscribe to research services, but no retail investor will be able to afford them.

Fortunately for the right-wingers, trump has class and respect for the institution of the Fed such that he won’t interfere with their policies.

I bet Bloomberg makes more per year than trump’s entire net worth.

Trump Supporters are such tools. Doublethink everywhere. Where’s your post about class and respect when trump didn’t shake Pelosi’s hand? Where’s your post about class and respect when trump got bored during the national anthem and decided to play “conductor.” And that was just this week!

And people got fired for it. Lots of people. Senior people as it was systemic.

Why don’t people see the obvious? A bank’s whole business is based on confidence that the employees will conduct their fiduciary responsibilities with integrity. Why would they ever publicly tolerate an employee stealing? And from a real politik perspective, especially when that individual is...

If it were 1bn or 10bn, they would be obligated to disclose it. It’s possible they will disclose the combined sum in their annual report.