The Mathematician who Cracked Wall Street

d08 said:
This is a good thread with good new information. I was also gullible enough to think he made it just with pure brainpower but it seems that's all a front.
I'm at a point where I consider all these hedge fund millionaires to be crooked, it's apparent that you just don't reach these levels of AUM with honesty, smarts and hard work. I used to think SAC was honorable but now it's apparent Cohen is pretty much a gangster and his success has nothing to do with good trading. There's a commonality in the background of Simons, Cohen, Soros, Niederhoffer, Boesky, Milken and Madoff but that's a discussion not welcomed on this board, by my estimates.
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A lot of edges are structural in nature. If it is in the grey area of legality, you can be assured people will ride it until it's gone.
 
xandman said:
A lot of edges are structural in nature. If it is in the grey area of legality, you can be assured people will ride it until it's gone.
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All edges are structural in nature. those who don't have it cry foul and the regulators step in to "level the playing field" once again eliminating the edge.

Anyone who thinks they have an edge by doing whatever everyone else is doing ie following past price is sadly mistaken.

I do believe that everyone can find their own edge, but its only via thinking differently not just the same rehashed stuff you see on here year after year with different names.
 
marketsurfer said:
No, you are wrong. You are not evolved enough as a trader to understand, unfortunately.

It's all tied together. TA is pushed by Wall Street in a concerted effort to decieve the retail.

VN made it further as a legit trader than anyone else in the modern era. For that he has my respect, only the uninformed don't get this fact.
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I'm not "evolved enough"? That's rich coming from you.
You seem to still believe TA is some magical entity to give you riches, I look at indicators and patterns as simply things that simplify price action and can be more easily coded. Until you get that far, your comments on TA mean nothing.

You can also make it very far and then blow up by just selling options, period.
 
d08 said:
I'm not "evolved enough"? That's rich coming from you.
You seem to still believe TA is some magical entity to give you riches, I look at indicators and patterns as simply things that simplify price action and can be more easily coded. Until you get that far, your comments on TA mean nothing.

You can also make it very far and then blow up by just selling options, period.
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My belief is that the very premise that "price action" provides an edge is fatally flawed.

But that's why the market works, everyone has different ideas and tries to put them to work.

surf
 
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