Thank you Pabst.I didnt have the heart to break Surfs heart,but he is truly clueless when it comes to the most basic concepts of option trading let alone derivative trading. Its a fact that Vice sells as much short dated gamma in the 85-95% spot range in such ridiculous size that its clear the guy thinks he is infallable or secretly has a death wish.Either way,he should not be trading I guarantee that not ONE of his investors is fully aware of how the Harvard Brainchild actually trades,as there is not one person with an IQ over 50 who would commit capital to an egotistical maniac who sells short dated gamma and uses prayer as a method of hedging...
no disrespect meant, as im certain you are a true pro at what you do, however you worked for the bank---didn't run your own show--- there is a difference...... im not hocking anyone's items on the internet other than my own at times. surf
no doubt pabst your connected and generally know what you are talking about. however, to call the monsterous FOF's invested in VN's operations unsophisticated is pure idiocracy. i don't care what you think of VN, but, seriously, man, how can you you say this kind of stuff? what's the agenda?? surf
Surf,allow me to let you in on a secret which is apparantly only a secret to you..The investors do not know that Vice sells the short dated 85-95 percent of spot options as big as humanly possible to generate the returns he does. You show me where he openly discloses selling short dated gamma in massive size with no offsetting gamma trades of any kind. Wake up Surf
break away, man, seriously. i know the sophisitication level of some of the capital that was with VN--- these aint ma and pa. the due dillegence these guys do is sick--- only thing i can deduce is they knew what they were doing and wanted to take this particular risk. like i said to pabst, i don't care what you think of VN and acknowledge some serious errors MAY have been made, I have no idea-( i don't work for VN or know anything direct about his operation)-i'm jus trying to present a potential otherside--- but to say the investors are unsophisticated is pure folly. surf
i don't know for sure, your right. however, knowing the level of the investors, and the due diligence process that is normally done, i truly doubt they would be lacking in understanding of these simple facts---if, in fact, this is the case. regards, surf
That's a lot of fancy talk. Let's "big-picture" it for a moment. I am zero-connected in the trading world. But to use household names, I'm guessing that guys like PTJ and Cohen have "slightly" larger "AUMs" (in the multiples) and yet somehow manage to perform very well without stepping from one landmine to the next. How do you figure?