Port1385 has a great point. Although ET has something to help you get started with resources in a general sense, the bottom line it is that I, like many others are here for the entertainment. Sure, RM a while ago made some money, but everyone does at one point or another. Only the real professionals are the ones who can last 3, 5 or 10+ years. There is a huge difference between opinions and facts. In finance one's credibility is his track record not the number of posts one writes on a website. The fact is that RM blew up his account and Dmitry didn't or RM would not be here paying someone to help him get a job.
There is a hard lesson to speculation that everyone learns at one point or the other to include the Nederhoffers of the world. You can't go on forever with the same line of speculation. Those people who have made money in real estate these last several years are right now learning that lesson trying to jump back in to the market hoping to flip a few properties like they did in 2004...however, many are failing right now. Look at our own stocktrad7r who keeps insisting that RIMM will go higher as the stock makes new lows with each passing day. When you notice a change in trend, then you have to go back to the drawing board immediately and find something else that works. If you keep going with the same line then you may be successful or you could die broke. Dmitry learned to change it up and move on to a different strategy and that is why he has this huge BAM fund. Rearden did not learn to change it up so now he has that linoleum floor and cheap Scotch. Rearden has to go on message boards like this to attract attention with his PAST exploits and to find a new gig. No one in the trading world will take him on because he couldnt learn to change it up and then proceeded to blow an account. Mind you, not some 50k IB account, but a multi-million dollar account.
Not going to disagree there are plenty of kids/pikers/douche bags on this board and plenty of BS to sift through. You being a member on this site for the last few months- I can tell fairly quickly you are one of the aforementioned posters. I have been reading this board every now and then for 6 years and just b/c you aren't doing it- doesn't mean RM hasn't. You gave your worthless two cents. There are plenty of posters on this board that have been making a good living trading for a very long time that KNOW RM is legit. Now run a long.
Rearden Metal, how bad is 2008? Is it common for traders capable of turning 1M+ per year to suddenly have a large negative year? Do you think your trading style is very different from that of other successful traders?
I agree with what your saying but in Reardon's defense, he is still only 33 and way further ahead then 99% of traders. I'm 44 and have been in the business since 83 and my best year (even though I've last this long) still has never been over a million except during 97-99 which where extreme situations. RM, keep at it brother, even the best of the best have off years.
What the hell is your problem? What is so wrong about RM's post that we have to suffer your irrelevant drivel?. Perhaps your nimble little cabbage patch brain can't comprehend a stereotype beyond 'Swift Trading' but maybe you could try and sound a little less annoying.
Fantastic! I accept your proposition. You're on! Would a $10,000 wager be sufficiently worth your while, or shall we bump our little bet a bit higher? We'll use your single most respected ET member as escrow and judge... Ooops, that's right; not a single trader on these boards merits your respect or trust. That's fine; we can just select a lawyer to act as escrow instead. Since you must be eager to rake in an easy 10 grand, why wait? Let's quickly pick a mutually acceptable person to act as escrow/judge, and get the ball rolling on Monday. This will be fun- I'm looking forward to it! _________ Two fools are handed a pile containing 100 colorful stones: Five of these stones are precious gems valued at $1,000 apiece, while all the rest are worthless glass beads. Fool A assumes that all one hundred stones are valuable, and clings to them all. Fool B is simply too clever to ever fall for any ruse, and immediately dumps every last stone in the trash. Whose bullshit-detector is more dysfunctional? Which is the greater fool? Well, one of them now holds assets worth $5,000 in his pocket, while the other has been left with absolutely nothing. I'd say the answer is pretty clear.
I just want to throw one last plug for D.E. Shaw. You could easily get onto their prop desk without a thought. They're not like the standard IB desks; they have a knack for targeting real talent. Also, I have 0 interest in the firm and 0 desire for the "bounty" you offer (I recognize you want a real incentive. I'm throwing it out as an option, for someone I respect who is pushing for an alternative to SNRIs; I do not want your money). Talk to them. See if they will accommodate your strategy. They have a respect for quants that is less formulaic than the standard IB houses.