So how is it? Don't have the time at the moment to watch hour presentation. Any decent trading nuggets? Or is he relegated to pre-HFT trading past. Game is more efficient today. Don't know if his "T" technical analysis would hold up today.
Hm analysis? I read his book and really enjoyed it, but I only later realized that "inside" Skinny's tips (not sure if I spelled the guy's name correctly) was basically an insider trading. He originally made money of the tips of a guy in the know. The other part, according to his, was temporary imbalances which no longer exists. I totally recommend his book to anyone, great read.
He has morphed a bit. Did not bring up the glory days, in fact he is doing better than ever he says trading wise. Gamma selling, hedging and still playing directionall. It all comes down to risk and he knows it. The "T" never really made the money...
THAT was good. Marty Schwartz is a charismatic, engaging speaker. Judging by the writing in his book, you would think he'll come off more "caveman-ish". You can tell his upbringing was very pedestrian (i.e. betting horses, gruff language in the book) but his natural intelligence/street smarts shine often when he was speaking. Some notes, - did 600k in 1980 (1.67mill in 2013 dollars) - did 5mil in 1982 (11.9mil in 2013 dollars) - moved away from SP500 since game got harder and he was frustrated. - trading crude futures (had his biggest year last year). negative gamma seller. "wants to be the bookmaker in oil" - had a nasty trade recently (some time around Mar/Apr 2013) where he was moving 25k puts, took 4mil hit adjusting position. - noticed HFT trading with fake orders to gauge market strength. - see MMs taking out stops by gunning for highs/lows. - just like in the book about noticing SP500 imbalances, he noticed Quad witching shenangians by MMs, pushing futures out of whack. Said he backtested a strategy with a 70%-80% positive results to take advantage. - still does his "ratios" and TA at the end of the day. - done very well with horse racing/breeding. He should really write another book. The adjustments alone (from 80s to the 2000/10s) is worth reading. I was skeptical that he could maintain his trading style today but he has adapted quite well. Very intelligent trader.