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All you guys saying under obamacare "my premiums are going up 50%" are comparing apples to diamonds. Every insurer sells "no frills" plans that basically don't cover anything. Here in NJ they sell a "basic and essential plan" that you can get for like 300/month. Do you know what the annual...

You can calculate your obamacare premium here: http://kff.org/interactive/subsidy-calculator/ Even if you make a million/year like everyone on ET does your max annual premium for obamacare will be 5k (for 2 adults). Screenshot attached.

Since I do trade for a living last year I paid 20k a year in health premiums for a shitty plan (high deductible, high copay) that doesn't even cover all health issues. There are lots of coverage requirements that exist for employer based plans that just don't exist for individual plans...

RM - you're a genius, but I see one huge flaw in your approach to markets. I recognize it in you because I've seen it in myself. And it is this: you have a bearish bias. I did too mainly because my career was born in a bear market (post 2000). And because I've witness two ridiculously...

I have a fairly diversified portfolio in a cash account and I'm buying a little something everyday. I wonder how much I can make by making my portfolio available for stock loans. If I can make even an extra 2% a year that would be amazing. What has been your experience with IB's stock yield...

BTW Kris Kringle = Santa Clause for those that didn't know (I had to look it up). 100 heads in a row MUST HAPPEN as a function of PURE RANDOMNESS if you flip a coin enough times. And when you have a billion brokerage accounts worldwide, 10k to 100 million events MUST HAPPEN out of PURE...

So we learn that Peterffy treats IB as his own personal hedge fund when he feels like it. “I started to buy the stock as it went down” “You win a few, you lose a few”

It doesn't sound like market making to me. It sounds like straight up gambling. Maybe this is why IBKR is one of the worst performing stocks for 5 years in a row.

That was one of the best articles I've read, I can't wait for the book to come out. Scalping aka market making is low variance trading. The only other alternative is directional betting which is very high variance. The brain can handle low variance trading a lot better than high variance...

I was looking at Sept., my bad.

ignore thread

We're in the 11th year of a secular bear market that began in 2000 and we are not even at fair value yet. Keep in mind that we have spent over a decade below fair value many times before. Fair value =16 level on the PE10 Ratio

Maestro - I generally visit ET to track 3-4 insightful posters and you're one of them. Thanks for your always thoughtful posts.

Excellent post. The Worst thing for a trader is to Be Right & Lose Money due to trade/emotion mismanagement. Marketsurfer's Crash Call is the kind of call that makes one's Career, just like Paulson's subprime short or PTJ's short in 87. But MS managed to lose money. IMO the culprit is...

This is a great quote.

If I were CEO of a public corporation instead of doing outright share buybacks, I'd probably just sell puts each time my firm's stock goes down 1% from the HW mark. If it goes down another 1% I'd sell another round of puts. Put sales would be cash secured (no leverage) and I would never...

I can 100% guarantee anyone that PTJ averages losers all the time up to a limit. You just don't trade 10-20 billion by going "all in" into every position, that's just not possible. And scaling in by averaging up is just as "risky" as averaging down. With averaging up your increasing your...

How can a put decay if price goes down and there is more than enough time value left? I'm long Aug 70 EWZ puts. I saw EWZ gap down this morning and yet I saw no appreciation in my puts, they actually lost value. I'm guessing it has something to do with dividends, but I don't understand how...

The point is that people that stuck with dollar cost averaging into this market doubled their money in during the worst decade in history for stocks. 66% percent of the gain came from individual contributions and employer matched contributions and 34% of the gain came from capital gains. By...

Talent is a biological predisposition required for success. Pro athletes have the genes required to be pro athletes. The genes alone are not enough, but the genes provide a foot in a door that will always be closed to 95% of the people. There is a part of the brain that regulates...