Jack, I know you don't start threads (although you DO definitively terminate them), but would you care to discuss recent events and what they portend for the future? ET's two finest minds enlightening the great unwashed? We would condescend to let others post, but only if they are irascable recidivist old farts like us. I would like to begin with the observation that the sogennanten hedge fund managers really must be the children of the "gunslingers" of the 70's. Sooooo fucking smart! They heaped OPM into subprime mortgage paper! They can't remember George Santayana, if ever they even read him. You being a Renssalaer Poly guy, I am sure you did. Anyway, I am disturbed that you haven't posted in five days, hope you are well and that this will reserrect you. OT, I just consulted for an RP graduate. Confirmed my long-held impression that they all think they are smarter than us land grant college grads.
Dolly, play nice. I am serious. And you are too young to post. Only the likes of T-Dogg or Oldtrader need apply.
I am incarnations old... I was an SCT user in a past life and plan to use this life to pay off those accumulated debts But I'll shut up and watch
No, no, if you are OLD you can play. OK, Jack didn't like that gambit. Let me try this. When I was young (at least I think I was once) I read all the books about panics: Kindleberger, Mackay, Galbraith). Recently like all the rest of you I read "When Genius Failed". In none of those do I recall reading that INSTITUTIONS made runs on banks. That is what bothers me about the current mini-panic. "Hello, I am the controller of Consolidated Bigness. I want the $50M in my cash account in large bills, please. Oh, and let's cash out my CD's, too. Penalty? Shmenalty! Cheap at the price compared to suing you in bankruptcy."
Actually I did correspond extensively with Tenzin Gyatso to find out why he has such a metaphysical hard-on for Jack, but I got no clear answer, or any read at all on his own trading approach.
You guys just cannot let me start a serious thread. What is your problem? This is a serious issue for me. I may not be able to work much longer, and I sure as shit can't live on what I've saved, especially if it gets inflated away or simply evaporates in a crash. Do you think you're going to be able to daytrade for a living if the daily range on index futures is a few ticks?