Lurker > lesidesi

realistically, parental wealth
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If they can get you asking the wrong questions, they don't have to worry about the answers.

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If they can get you asking the wrong questions, they don't have to worry about the answers.

have just over $20 million USD in liquid net worth
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If they can get you asking the wrong questions, they don't have to worry about the answers.

I dunno, talking heads?
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If they can get you asking the wrong questions, they don't have to worry about the answers.

pordan jeterson
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If they can get you asking the wrong questions, they don't have to worry about the answers.

lots of super uncultured people on CE
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If they can get you asking the wrong questions, they don't have to worry about the answers.

sleater-kinney
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Mindy kaling
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If they can get you asking the wrong questions, they don't have to worry about the answers.

JerseyProudBoy posted...

lesidesi posted...

SwordMaster13X posted...

I know there are corrections but this dropoff is happening too fast.

Since Oct 3rd, the Dow has fallen over 4,000 points.

what's backing the claim that it's "too fast"

That's quicker than it rose 4000 in any period after Trump was elected.

that's not a real answer
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If they can get you asking the wrong questions, they don't have to worry about the answers.

SwordMaster13X posted...

I know there are corrections but this dropoff is happening too fast.

Since Oct 3rd, the Dow has fallen over 4,000 points.

what's backing the claim that it's "too fast"
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If they can get you asking the wrong questions, they don't have to worry about the answers.

do people even use this word unironically anymore
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If they can get you asking the wrong questions, they don't have to worry about the answers.

anti-intellectualism is certainly a trademark of conservative mindsets
and recently extreme left as well

at risk of sounding like a cringey centrist
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If they can get you asking the wrong questions, they don't have to worry about the answers.

most market makers at the banks are morons now
all the smart traders have been buy side since like 2006 2007
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Wetterdew posted...

Sunhawk posted...

Languages. That would really impress people. It would be French (because so many people speak it), Spanish (for the same reason), Mandarin (because it's so hard to learn), Latin (because this always makes a person look smart), and German (because living in Germany would be cool for me).

Rich people are annoying.

Mandarin is not that hard to learn.

Spanish is the most spoken language in the world so you would be likeliest to get that.

this is a really dumb post
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If they can get you asking the wrong questions, they don't have to worry about the answers.

agree with darkman, that's how I interpreted it too
didn't assume he was saying no one cares about markets
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If they can get you asking the wrong questions, they don't have to worry about the answers.

I think you're doing th right thing by not being too much of a trader
unless it's your job and you have a Bloomberg terminal in front of you all day, it's tough to have an edge, and it makes more sense to think longer term
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If they can get you asking the wrong questions, they don't have to worry about the answers.

if you're interested in a really good read on trader psychology, look up the book "the hour between dog and wolf" by John coates
he's a PhD who was also a trader for years
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If they can get you asking the wrong questions, they don't have to worry about the answers.

you're too kind to people darkman, you give them replies when they don't deserve them
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If they can get you asking the wrong questions, they don't have to worry about the answers.

I wish I wasn't such a trader
I was positioned to make so much money in this market but I derisked significantly ahead of end of year to lock in my PNL
I could have made another 2 or 3% this month
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If they can get you asking the wrong questions, they don't have to worry about the answers.

by far languages
500k isn't even that much money
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If they can get you asking the wrong questions, they don't have to worry about the answers.

another version of this topic again
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If they can get you asking the wrong questions, they don't have to worry about the answers.

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If they can get you asking the wrong questions, they don't have to worry about the answers.

fed policy was independent of who was president
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If they can get you asking the wrong questions, they don't have to worry about the answers.

if every non fishing game with a fishing section removed said section, there would still be too many games with fishing in it
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Messi getting 5th was a joke
there aren't 4 better players than him
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If they can get you asking the wrong questions, they don't have to worry about the answers.

while socialism certainly didn't help Venezuela's situation, it's pretty intellectually dishonest to say it's the only or even the main cause
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If they can get you asking the wrong questions, they don't have to worry about the answers.

cheese and caramel combo from Garrett's
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If they can get you asking the wrong questions, they don't have to worry about the answers.

smoking
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If they can get you asking the wrong questions, they don't have to worry about the answers.

CharlesBronson posted...

lesidesi posted...

Darkman124 posted...

CharlesBronson posted...

lol even if she made 5% that's not what the poor saps that own her fund make after they get done paying the fund expenses i'm not going to give my hard earned money to a portfolio manager lol

while i dont use a manager, i do get bugged by them every so often. my usual question is "does your aggressive portfolio beat the S&P500 by more than your expense ratio"

and if the answer is no i tell them to have a nice day

unless her fund has some absurd exp ratio it sounds like she's beating the bond index by quite a bit more than she costs

i work at a hedge fund that has lots of PMs like me

the head is a multi billionaire so he can pay PMs whatever he likes

enjoy getting fired when interest rates fall next year

i'm not sure you understand how these places work
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Darkman124 posted...

CharlesBronson posted...

lol even if she made 5% that's not what the poor saps that own her fund make after they get done paying the fund expenses i'm not going to give my hard earned money to a portfolio manager lol

while i dont use a manager, i do get bugged by them every so often. my usual question is "does your aggressive portfolio beat the S&P500 by more than your expense ratio"

and if the answer is no i tell them to have a nice day

unless her fund has some absurd exp ratio it sounds like she's beating the bond index by quite a bit more than she costs

i work at a hedge fund that has lots of PMs like me

the head is a multi billionaire so he can pay PMs whatever he likes
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Darkman124 posted...

google tells me that they got wrecked by a mass-default of russian treasury debt, yeah?

kind of crazy that they got trapped in something like that when making leveraged trades that are supposed to only be held for very short periods of time.

LTCM was levered more than 200 to 1 at a certain point (50bp margin)
that's obviously reckless
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Darkman124 posted...

i know 0 on how margin calls for bonds work. is that a thing that happens much?

read the book When Genius Failed about LTCM
bunch of super smart guys who were too highly levered and couldn't meet margin calls (even though they were right)
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If they can get you asking the wrong questions, they don't have to worry about the answers.

it's also worth noting that although it's 5% on 200 million, i dont physically use 200 million of cash
hedge funds have overallocation to PMs - and it's really more of a VaR/margin calculation, the 200M is to make it more obvious
my return on margin (the actual cash i use) is significantly higher, because with fixed income you can be levered 10 or 20 to 1. (like 5% margin)
so my return in reality is more like 50-100% per year on actual cash
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If they can get you asking the wrong questions, they don't have to worry about the answers.

the way PMs (at least at hedge funds) get paid is a combination of salary (usually something like 150-300k) and a percentage of their PNL

So if you're managing a book of $200 million (very typical size for a PM at a hedge fund) and you make 10% in a year, your PNL is $20 million, and you're likely on a 10-20% payout, so your bonus would be $2-3 million

I'm a super boring trader and make ~5% every year but it's extremely consistent and reliable (and the bosses love my risk taking because it's super consistent and they lever it up to the nuts)

there are hundreds of PMs at hedge funds just in London that are making $5 million or more a year, and thousands worldwide
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If they can get you asking the wrong questions, they don't have to worry about the answers.

this year it'll amount to ~$750 an hour unless my PNL goes way down this month (it won't)
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If they can get you asking the wrong questions, they don't have to worry about the answers.

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If they can get you asking the wrong questions, they don't have to worry about the answers.

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If they can get you asking the wrong questions, they don't have to worry about the answers.

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If they can get you asking the wrong questions, they don't have to worry about the answers.

i'm actually pretty centrist myself but i find these memes hilarious
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If they can get you asking the wrong questions, they don't have to worry about the answers.

Damn_Underscore posted...

The ironic thing is that those centrist memes are most likely made by far righters.

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If they can get you asking the wrong questions, they don't have to worry about the answers.