Bulls & Bears Documentary (uploaded!)
- Thread starter s0mmi
- Start date
I just recently came across this docu on YouTube (and noticed it was s0mmi from ET as the uploader).
Anyway the first thing that came to mind after watching this was that the more things change the more they stay the same. Almost all the exact same frustrations and issues 20 years ago as today - with probably electronic trading reducing some headaches but introducing others (lack of feedback for floor traders, HFT bullshit).
His comments on riding the comet I both agree with and disagree with. I think many traders do indeed have a take on direction otherwise they wouldn't sit around and bullshit on what they think a given govt/entity is going to do or how their actions impact things etc. I think a major difference though is how they handle being wrong. The winning ones will just accept it and get out. The losing be right types will not and instead blow up and take a beating. We can all empathize with this.
I also found it interesting how he hesitated a bit before revealing his occupation to the cab driver. Almost as if said occupation would be perceived with disdain. Is that the case in Australia? I know it somewhat is in America.
I recommend people watch this one even if it's just the 2 parts.
Anyway the first thing that came to mind after watching this was that the more things change the more they stay the same. Almost all the exact same frustrations and issues 20 years ago as today - with probably electronic trading reducing some headaches but introducing others (lack of feedback for floor traders, HFT bullshit).
His comments on riding the comet I both agree with and disagree with. I think many traders do indeed have a take on direction otherwise they wouldn't sit around and bullshit on what they think a given govt/entity is going to do or how their actions impact things etc. I think a major difference though is how they handle being wrong. The winning ones will just accept it and get out. The losing be right types will not and instead blow up and take a beating. We can all empathize with this.
I also found it interesting how he hesitated a bit before revealing his occupation to the cab driver. Almost as if said occupation would be perceived with disdain. Is that the case in Australia? I know it somewhat is in America.
I recommend people watch this one even if it's just the 2 parts.
That was filmed right after he lost millions. So the hesitation is probably more like a reflection on what the f*ck he is doing. I don't think he cares much what a cab driver thinks about him.
Documentary's total length is 52 minutes, so we're not missing much.
I amtrying to udnerstadn why veryone thinks he is a guru? he says a lot of very important stuff but he traded massvie size in short term trades.. yes sometimes he did hold overnight and I am not putting him down in any way or form but you heard it from him.. he said he used to be teh casino and now he is a gambler. he said ther is no edge.. you d onot worry about risk when you have edge that is the one thing I cannot figure out about peopel who trade today. They do not undertand that these guys were the HFT market makers of their day. that is why he did massive size every single day.. you thin he was holding 90% of the open interest at the end of the week .. hell no.. his edge was ultra short trades and he didn't worry about risk because he was making the spread which was huge back then and he knew he would trade out of it eventaully that is why big banks and exchagnes would fund him or let him go to debit because if you were a good scalper (MM) then you were guranteed to print money. it was hard work very hard work.