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03-17-2008, 08:52 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by zeyneddine
No one is ignoring warning signs. There was a huge amount of trading in Bear puts. Only the uninformed people get left out, otherwise some people have become overnight millionaires.
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JP hit it huge, and he was pretty much the only one to do so, and made like an estimated $3.5 billion personal compensation off of the sub-prime mess.
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03-17-2008, 08:54 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by IbnMardhiyah
JP hit it huge, and he was pretty much the only one to do so, and made like an estimated $3.5 billion personal compensation off of the sub-prime mess.
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Lol, yeah he must have been rubbing his hands in glee when it happened.
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03-17-2008, 08:55 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by IbnMardhiyah
JP hit it huge, and he was pretty much the only one to do so, and made like an estimated $3.5 billion personal compensation off of the sub-prime mess.
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JP is who?
edit: i hope you're not talking about John Pierpont. He died a century ago
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03-17-2008, 09:00 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by zeyneddine
JP is who?
edit: i hope you're not talking about John Pierpont. He died a century ago
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I'm talking about John Paulson.
Look him up.
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Elizabeth Swann: There will come a moment when you'll have the chance to do the right thing.
Jack Sparrow: I love those moments. I like to wave at them as they pass by.
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03-17-2008, 09:03 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by IbnMardhiyah
I'm talking about John Paulson.
Look him up.
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meh, he's just another dude in the market who took a bet. even brian hunter made a killing betting on commodities, and subsequently sinking $6billion.
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03-17-2008, 09:03 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by IbnMardhiyah
I'm talking about John Paulson.
Look him up.
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I bet his homies call him "Shorty". 
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03-17-2008, 09:04 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by zeyneddine
meh, he's just another dude in the market who took a bet. even brian hunter made a killing betting on commoditities, and subsequently sinking $6billion.
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He didn't just take a bet dude ... the guy did his math, and it paid off.
And now he's made more than whats-his-face at Renaissance ever did.
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03-17-2008, 09:07 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by IbnMardhiyah
He didn't just take a bet dude ... the guy did his math, and it paid off.
And now he's made more than whats-his-face at Renaissance ever did.
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even merton and scholes did math, AND won nobel prize, yet sank their company like the titanic coz of one event. math is hardly the essential tool in capital markets.
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03-17-2008, 09:13 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by zeyneddine
math is hardly the essential tool in capital markets.
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Are you speaking from experience?
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03-17-2008, 09:14 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by IbnMardhiyah
Are you speaking from experience?
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observational experience, sure.
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03-17-2008, 09:16 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
I think it's difficult to make serious money unless you're either working in the industry, or have proper knowledge yourself and closely monitoring your investments. It's probably easier to set up a business yourself.
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03-17-2008, 09:19 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by Jamroll
I think it's difficult to make serious money unless you're either working in the industry, or have proper knowledge yourself and closely monitoring your investments. It's probably easier to set up a business yourself.
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even when you are working in the financial industry, it is nearly impossible to beat the market. if you do beat the market one year, you're lucky. two, three, four, your luck is carrying you. people like buffet are the rare exceptions who've just been lucky throughout. atleast thats what the theory of efficient market holds.
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03-17-2008, 09:20 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by zeyneddine
observational experience, yes.
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Okay. So in other words ... no real experience at all.
- JP did his math and it gave him a 3.5 billion payday.
- Simons over at Renaissance does his math every year and it gives him a $1 billion payday.
- People at Vanguard do their math and that's why their performance out-paces the benchmarks by as much as 5:1
- One of my brothers-in-law is a director at the insurance division of a major Canadian bank, and is an actuary by education and profession. He does his math daily and that's how he protects the bank from risk and simultaneously preserves some extremely healthy margins.
Clearly, in the real-life, real-world, hands-on experience of these people and many others, "doing the math" definitely pays off very nicely.
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Elizabeth Swann: There will come a moment when you'll have the chance to do the right thing.
Jack Sparrow: I love those moments. I like to wave at them as they pass by.
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03-17-2008, 09:21 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by zeyneddine
even when you are working in the financial industry, it is nearly impossible to beat the market. if you do beat the market one year, you're lucky. two, three, four, your luck is carrying you. people like buffet are the rare exceptions who've just been lucky throughout. atleast thats what the theory of efficient market holds.
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The problem is, as I think you mentioned earlier - that the only way to make money is by possessing up-to-the-minute information. The average investor only discovers the "breaking" news after the event, by which time it's too late to take any meaningful action.
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Start where you stand, work with whatever tools you may have at your command,
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03-17-2008, 09:26 PM
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Re: Dude, where's my bank?!! (Bear Stearns DEAD at 85)
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Originally Posted by IbnMardhiyah
Okay. So in other words ... no real experience at all.
- JP did his math and it gave him a 3.5 billion payday.
- Simons over at Renaissance does his math every year and it gives him a $1 billion payday.
- People at Vanguard do their math and that's why their performance out-paces the benchmarks by as much as 5:1
- One of my brothers-in-law is a director at the insurance division of a major Canadian bank, and is an actuary by education and profession. He does his math daily and that's how he protects the bank from risk and simultaneously preserves some extremely healthy margins.
Clearly, in the real-life, real-world, hands-on experience of these people and many others, "doing the math" definitely pays off very nicely.
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I dont need to actually study math to know how trading is su | |
