Thanks Don. Do you care to comment on that rumor going around about GS shutting down Redi-plus accounts?
I'll do better than that: Here is the link: http://www.bloomberg.com/news/2010-...learing-to-some-of-smallest-u-s-accounts.html But notice that it only applies to small firms under $5mi or so. GS actually called us on Friday to make sure that we knew it did not affect us at all. While the firm continues to clear trades for some accounts below the new limit, itâs winnowing out clients that are riskier, have lower growth prospects and are more retail rather than institutional in focus, one of the people said. Great for business however, geez another 500 guys who have been using RediPlus - who could ask for more? Don
Well, they didn't say firms, but accounts with less then 5 million. Obviously you guys have a pooled account via your JBO. Don, I think Goldman has done enough favors for you by taking 20% of your traders p&l going forward. Make sure to send them a Christmas card this year.
And that was the moment when Don Bright went public with his career as an obscene prank caller. Before that time, prominent proprietary traders could only scratch their heads over who was talking dirty to them over the phones next to their Bloomberg terminals. People had raised their suspicions since fractions were eliminated and profit margins were squeezed. The internet was on the rise, and with it, pornography. Greg Hold himself had recounted on this board that he had once received a seductive phone call during work hours from a bearded gentleman. Until this time, no one had had a clue.
All prop firms trade pairs. There is nothing really special about about stat correlation strategies. They have been around for 40 years.