Thanks very much for enlightening us with your knowlege regarding fixed costs. You just saved me from having to look it up in my college business textbook. Let's now leave this dead horse and go back to trading, shall we?
I never stopped, trading that is. You asked the question and I took the time to answer it for you. Like I said, I am not trying to be condescending but I made a pretty realistic case on How a firm can lose money in this business. It's nothing personal, just a simplified analysis.
You assent cheerleaders must have a vested interest in your firm succeed. I wonder, is it because you have a business interest or is it you are just looking for some "social proof" that you are correct?
Most of the Assent bashers on this thread don't even work at the firm...yet they all have "heard" negative things that are going to happen. There is a huge difference between cheerleading and just stating the facts. Check any Assent thread that I ever posted on and see if I was wrong about anything that I wrote. Just trying to stop the rumor mongers and guys with an agenda before it gets out of hand.
Yes please allow me to name ppl that do not want to be named on a public message board. Uncertainty and worry? Every freaking 2-3 months we had a rumor about Assent being sold/dumped and most of the time the rumor came from within Assent from big traders that were tight with the top execs in Assent. I know some of these dudes were pulling out money and leaving Assent just because they did not want to deal with the problems. The last one I heard before I left, is that the reason why SDS was so anally retentive with the compliance in Assent is cause they were cleaning it up to sell to like a Merrill or a Lehman. Well guess what, SDS sold itself to some equity firms so obviously there was quite some truth to it.
Very funny. So you are saying that compliance is a bad thing. You should be worried when your firm does not implement compliance rules. Assent does a great job in that. My office just hired 10 more traders in the last month. Assent is doing great. Those " dudes" that you mentioned probably had other risk issues that they had to deal with. And also you have no idea that whether Longhorns or myself are big traders and close to the management. Bottomline: Assent is doing great, the bashing that goes around here is baseless crap.. Also worse comes to worst and things go south and the new buyers dissolve Assent there is always another firm for a succesful trader.
Worldco was hiring right to the end too. But although the rumors were right about Worldco (and seem people clearly did know something), it is also true that there are a lot of baseless rumors that circulate on ET for whatever reasons. People have been saying for years that Hold was on the verge of going out of business. Well, 3 or 4 years of rumors and it is still chugging along.
there is no comparison between that trainwreck fiasco of a company worldco and any other. Is there any news on wether the traders got the rest of their dough? I sure hope they did
The last 1/3 is still tied up in some dispute between Worldco and the state over taxes. If Worldcowins, which is hard to imagine, then supposedly traders will get the rest of their money.