Monday, August 13, 2007
Late Day Thought
I haven't devoured oatmeal in two weeks.
UPDATED Thought: Whoever invented the "quant fund" is a fucktarded, dickless asshat.
UPDATED Thought: Whoever invented the "quant fund" is a fucktarded, dickless asshat.
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The "arbs" have had their asses handed to them.
Funny.
Who do we know that is an "arb?"
vis a vis 79 trades.
Viz.
Funny.
Who do we know that is an "arb?"
vis a vis 79 trades.
Viz.
Quants are a bunch of PhD's who know next to nothing about the markets and just about everything having to do with number theory.
I saw a story on Bloomberg this morning where Highbridge (owned by JPM)is blowing up:
"The models (ours included) are behaving in the opposite way we would predict and have seen and tested for over very long time periods (45+ years). The selling caused the models used by quantitative funds to short circuit. Stock positions that the models expected to fall in price rose, and shares they expected to rise, fell."
A billy goat can pick stocks better than that.
[The head guy at Highbridge made $161 mil last year.]
I saw a story on Bloomberg this morning where Highbridge (owned by JPM)is blowing up:
"The models (ours included) are behaving in the opposite way we would predict and have seen and tested for over very long time periods (45+ years). The selling caused the models used by quantitative funds to short circuit. Stock positions that the models expected to fall in price rose, and shares they expected to rise, fell."
A billy goat can pick stocks better than that.
[The head guy at Highbridge made $161 mil last year.]
My own late day thought is that I hope the Hedge Fund Fuckers in Greenwich,Ct. have to clip their own hedges and clean their own swimming pools now. Pricks.
why do you guys hate people that make money?
some kid plays nintendo, doesn't get dates in high school, then BAM--realized that when the spx 11-day crosses the SMA after 3 down days + 1 week till OE, you can get a .10¢ spread.
true, not as old-fashioned as drawing lines on a chart (support is always at 0,I've noticed, stock never goes lower.)
nothing beats peter lynch. He was a tire kicker.
some kid plays nintendo, doesn't get dates in high school, then BAM--realized that when the spx 11-day crosses the SMA after 3 down days + 1 week till OE, you can get a .10¢ spread.
true, not as old-fashioned as drawing lines on a chart (support is always at 0,I've noticed, stock never goes lower.)
nothing beats peter lynch. He was a tire kicker.
I think he saying whoever modeled it is a dickless asshat, not the actual mechanics of the fund.
I've made much more off fly than I've lost. You don't know his weightings, either, so how can you extrapolate how much his losers or winners hurt him? He owns like 70 stocks.
I've made much more off fly than I've lost. You don't know his weightings, either, so how can you extrapolate how much his losers or winners hurt him? He owns like 70 stocks.
Soros and Rodgers are old men, going senile.
Today's quants are computer geeks and number crunchers with their tradebots, seeking revenge against the stockjocks who gave them wedgies in jr. high.
Today's quants are computer geeks and number crunchers with their tradebots, seeking revenge against the stockjocks who gave them wedgies in jr. high.
Danny- I appreciate the momeymakers. The problem I have with SOME of these pricks is they know it will end badly, get their fees,leave the investors holding the bag and expect the Fed to bail their ass out. Its the same thing over and over again. It doesn't matter whether its program trading and the '87 crash, Long Term Capital Management, Asian Contagian, Natural Gas collapses, etc. Some of them don't give a shit except getting a Fed bailout and getting their fees.
A 2% management fee, even without a 20% of profits incentive is a pretty nice paycheck for the hedgies.
Ask any broker. They would love to make 2% on the assets they manage. My neighbor is a broker and he says he makes less than 1%.
Ask any broker. They would love to make 2% on the assets they manage. My neighbor is a broker and he says he makes less than 1%.
Stevie Cohen is Dr. Evil.
http://online.wsj.com/public/resources/images/P1-AF732_SAC_ph_20060915123931.jpg
http://online.wsj.com/public/resources/images/P1-AF732_SAC_ph_20060915123931.jpg
Crude,
Stevie's my hero, since he paid for his college tuition w. poker proceeds. I see you linked a WSJ article... not sure if that's the one (since I refuse to cut and paste it, which is a mirror to your refusal to learn how to LINK it), but the WSJ profile I read on him said that his mother thought he was dealing coke in HS because he'd come home with wads of bills taken off poker losers.
Stevie's my hero, since he paid for his college tuition w. poker proceeds. I see you linked a WSJ article... not sure if that's the one (since I refuse to cut and paste it, which is a mirror to your refusal to learn how to LINK it), but the WSJ profile I read on him said that his mother thought he was dealing coke in HS because he'd come home with wads of bills taken off poker losers.
Okay I get it. That was actually a picture of the guy.
Yeah, he does look a fuck of a lot like Dr. Evil.
Yeah, he does look a fuck of a lot like Dr. Evil.
Let's face it - a market cannot be quantified - oh, yes a winning streak is a winning streak - 17 passes made on the crap table is a winning streak
but rubbing the dice on your balls before every throw - gets your neighbors nervous AND when your luck runs out...you all ready have two strikes against you -
The Stockhead said...
Soros and Rodgers are old men, going senile.
what the fuck does that mean - are you making a statement about yourself - grow up!
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but rubbing the dice on your balls before every throw - gets your neighbors nervous AND when your luck runs out...you all ready have two strikes against you -
The Stockhead said...
Soros and Rodgers are old men, going senile.
what the fuck does that mean - are you making a statement about yourself - grow up!
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