BTW, Talon: How do you select trainees? Is it usually friends, or friends of friends or do you hold interviews etc...
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Take the Index Piker Challenge
- Thread starter Index piker
- Start date
I believe, sir, you have made the classic error of underestimating someone's stupidity.
Quote from Redcandles:
After reading through this whole thread, I'm convinced Indexpiker is just pulling everyone's leg here. There's no way someone could put their retirement money into leveraged etfs and try to time the market. The math is just absolutely idiotic, these instruments were meant for day-trading, and the funds got in trouble because they didn't emphasize that enough when they were created. There is no way this guy is for real.
I talked about this on several threads. Friends of friends usually, friends of former trainees, etc... some people in the business do know who I am even though I try to keep a low profile. I work hard to select interesting people with diverse backgrounds. My most recent hire had a background in fashion, so literally no financial knowledge at all... Search my other posts and you'll find more info. Not really relevant in this thread sorry!
Quote from Redcandles:
BTW, Talon: How do you select trainees? Is it usually friends, or friends of friends or do you hold interviews etc...
Very interesting... Thanks for replying Talon. Sorry for the off topic post, carry on with the challenge IndexPiker!
Quote from talontrading:
Actually Piker, if you want to focus on the SSO's 187% return (and I'm sure attach words like "astounding", "amazing", etc to it) I thought of a better way to look at this that might be more meaningful to you. So yes, the SSO had a 187% return, but following an 85% decline. So the relevant math is:
Loss of 85.5% + Gain of 187.9% = net loss of 58.3%
for SPY over same period:
Loss of 57.4% + Gain of 71.6% = net loss of 26.9%
now, since you're the guy of the numbered list, two points:
1) the gains and losses might be off by a few basis points or so, but they are close enough to illustrate the point. accept them as correct, ok? assuming they are correct, do you understand the math above? does it look correct to you? you will need more than your 3rd grade math skills here, so if you think my numbers don't add, be very very very very careful before you call me stupid.
2) and we're back to the same questions I asked before... which you chose to ignore... which is interesting because they are THE pivotal questions for this thread. (but they don't stroke your raging ego.)
thoughts, Mr Piker?
You make good points here talon and surprise surprise no insults, you feeling okay there buddy?
It's widely known these instruments returns are both path dependent and one pays a high cost for no margin calls.
Thanks, will investigate more when I have time.
Became aware 2-3 weeks ago I had grossly overestimated potential due to large dividend payout.
Quote from Redcandles:
After reading through this whole thread, I'm convinced Indexpiker is just pulling everyone's leg here. There's no way someone could put their retirement money into leveraged etfs and try to time the market. The math is just absolutely idiotic, these instruments were meant for day-trading, and the funds got in trouble because they didn't emphasize that enough when they were created. There is no way this guy is for real.
Not pulling anyone's leg just more candid than the usual fare on ET.
yeah you're right. was noticing that myself... at some point you gotta start thinking maybe the issue is with yourself lol.
as for #2... probably somewhere they have a lot of food would be my guess
as for #2... probably somewhere they have a lot of food would be my guess
Quote from Mike805:
Seems to be a common theme in some of these journals you've participated in lately.
I wonder where Bowo went?
Mike