Marty Schwartz at Amherst College, Spring 2013
- Thread starter brownsfan019
- Start date
ditto..
rare find!
Hm analysis? I read his book and really enjoyed it, but I only later realized that "inside" Skinny's tips (not sure if I spelled the guy's name correctly) was basically an insider trading. He originally made money of the tips of a guy in the know. The other part, according to his, was temporary imbalances which no longer exists.
I totally recommend his book to anyone, great read.
In case anyone was wondering, Schwartz was big on Terry Laundry's T Theory.
Intro to T theory
Intro to T theory
THAT was good.
Marty Schwartz is a charismatic, engaging speaker. Judging by the writing in his book, you would think he'll come off more "caveman-ish". You can tell his upbringing was very pedestrian (i.e. betting horses, gruff language in the book) but his natural intelligence/street smarts shine often when he was speaking.
Some notes,
- did 600k in 1980 (1.67mill in 2013 dollars)
- did 5mil in 1982 (11.9mil in 2013 dollars)
- moved away from SP500 since game got harder and he was frustrated.
- trading crude futures (had his biggest year last year). negative gamma seller. "wants to be the bookmaker in oil"
- had a nasty trade recently (some time around Mar/Apr 2013) where he was moving 25k puts, took 4mil hit adjusting position.
- noticed HFT trading with fake orders to gauge market strength.
- see MMs taking out stops by gunning for highs/lows.
- just like in the book about noticing SP500 imbalances, he noticed Quad witching shenangians by MMs, pushing futures out of whack. Said he backtested a strategy with a 70%-80% positive results to take advantage.
- still does his "ratios" and TA at the end of the day.
- done very well with horse racing/breeding.
He should really write another book. The adjustments alone (from 80s to the 2000/10s) is worth reading. I was skeptical that he could maintain his trading style today but he has adapted quite well. Very intelligent trader.
Marty Schwartz is a charismatic, engaging speaker. Judging by the writing in his book, you would think he'll come off more "caveman-ish". You can tell his upbringing was very pedestrian (i.e. betting horses, gruff language in the book) but his natural intelligence/street smarts shine often when he was speaking.
Some notes,
- did 600k in 1980 (1.67mill in 2013 dollars)
- did 5mil in 1982 (11.9mil in 2013 dollars)
- moved away from SP500 since game got harder and he was frustrated.
- trading crude futures (had his biggest year last year). negative gamma seller. "wants to be the bookmaker in oil"
- had a nasty trade recently (some time around Mar/Apr 2013) where he was moving 25k puts, took 4mil hit adjusting position.
- noticed HFT trading with fake orders to gauge market strength.
- see MMs taking out stops by gunning for highs/lows.
- just like in the book about noticing SP500 imbalances, he noticed Quad witching shenangians by MMs, pushing futures out of whack. Said he backtested a strategy with a 70%-80% positive results to take advantage.
- still does his "ratios" and TA at the end of the day.
- done very well with horse racing/breeding.
He should really write another book. The adjustments alone (from 80s to the 2000/10s) is worth reading. I was skeptical that he could maintain his trading style today but he has adapted quite well. Very intelligent trader.
Out of curiosity what'd he say about his youth?