How to make $1.8 billion in 1 weekend
- Thread starter pinetboltz
- Start date
Talk is cheap. How many bought? I didn't.
I was in an arb in my IRA and my net liq was sitting idle at my PB. Anyway, I went as long as possible in alternatives (wife's 401k, in-laws, etc.)
when george soros' black wednesday gains became public, wasnt there so much public outrage against fact that a group of wall street traders made profits off their collective loss in a redistribution of wealth exercise
i guess this time with the $1.8 billion it was financed with money from ppl who went short on S&P believing the CNBC's bearish commentary on state of trade talks that whole week
all in all in today's world it just seems to make a lot more financial sense to play the zero-sum wealth redistribution game rather than focus on the real economy, eg the $1.8 billion vaporized off the losing side in 1 weekend would be equivalent to 100 million hours of labor at $18/hr or whatever the median hourly wage is
i guess this time with the $1.8 billion it was financed with money from ppl who went short on S&P believing the CNBC's bearish commentary on state of trade talks that whole week
all in all in today's world it just seems to make a lot more financial sense to play the zero-sum wealth redistribution game rather than focus on the real economy, eg the $1.8 billion vaporized off the losing side in 1 weekend would be equivalent to 100 million hours of labor at $18/hr or whatever the median hourly wage is
"fed" ... nice choice of words.
...In 1980, Michael Thomas, the former Wall Street banker—he was a partner at Lehman Brothers, which his father once ran—turned expert Wall Street satirist, published his first novel, Green Monday, about a financial wizard and a Middle Eastern oil minister who successfully manipulate oil prices and make a fortune. After hearing the Chicago trader’s thoughts about the fortune apparently being made trading S&P futures, I contacted Thomas to see if he thought the book he released nearly 40 years earlier might have been prescient. He reminded me of the plotline of how a country like Saudi Arabia raises the price of oil, knocking U.S. stock markets for a loop. Then the leaders of the country load up on devastated U.S. equities. “When they’ve got a multibillion holding,” he said, “they announce a big cut in price of oil. The market goes apeshit.” He paused for a minute and said, “I would boast that Trump has read it, but he can’t read!”
I ordered the book.
