Stocks finish best 3-month run since 2007

[nicky.smth]

I personally find VC the most interesting of all the big financial endeavors (IB, HF, PE, etc).

Venture capital?

Ya it's the most interesting. Venture capital firms often rape people, and dilute there existence in the company. \

however, the risk reward is also the greatest..

[Bindare_Dundat]

Why do you want my help? You think you know the markets better than 90% of the economists out there. You even think you're smarter than Nobel Prize winners.





Anyway, got to head off. Have fun jerking off to Roubini's picture tonight. 

DP,  BJ and maybe a little ATM? Sorry, I'm not gay. Give Benny a call. 

[Fury]

Venture capital?

Ya it's the most interesting. Venture capital firms often rape people, and dilute there existence in the company. \

however, the risk reward is also the greatest..

Yeah. It's not that much worse than HFs and what not, though. The turnover at places like Citadel, Shaw and RenTech is pretty damn high. Usually one fuckup and you're out. Something about bringing a company to an IPO like the VC guys do appeals to me.

I was going through some of the brainteasers that my buddy got on a D.E Shaw interview. Ridiculous stuff. Need an advanced math background just to stand any chance of solving most of them.

I would probably feel like I was wasting my intellect if I was a Math PhD or w/e from a top school and spent my time doing financial equations, though.

[nicky.smth]

Yeah. It's not that much worse than HFs and what not, though. The turnover at places like Citadel, Shaw and RenTech is pretty damn high. Usually one fuckup and you're out. Something about bringing a company to an IPO like the VC guys do appeals to me.

I was going through some of the brainteasers that my buddy got on a D.E Shaw interview. Ridiculous stuff. Need an advanced math background just to stand any chance of solving most of them.

I would probably feel like I was wasting my intellect if I was a Math PhD or w/e from a top school and spent my time doing financial equations, though.

ya, i sent resumes to D.E Shaw, but they wanted SAT scores..i don't know how SAT scores and picking stocks or other instruments are correlated exactly. But they shut me down in the early phases, as i didn't quite meet that criteria

Look at that biggest Hedge fund collapses in history, Amarath Capital, they required a bare Minimum of 1500 at the SAT's on a 1600 point scale..

Also looks at all the Noble Prize winning academics at Long term capital management, and we know how they worked out

I worked at two smaller hedge funds in Greenwich in the past, and i didn't even have to interview at all..that's more my style..

[Bindare_Dundat]

ya, i sent resumes to D.E Shaw, but they wanted SAT scores..i don't know how SAT scores and picking stocks or other instruments are correlated exactly.

Look at that biggest Hedge fund collapses in history, Amarath Capital, they required a bare Minimum of 1500 at the SAT's on a 1600 point scale..

Also looks at all the Noble Prize winning academics at Long term capital management, and we know how they worked out

Are you saying that a Nobel Memorial Prize in Economic Sciences means dick?

[nicky.smth]

Are you saying that a Nobel Memorial Prize in Economic Sciences means dick?

Well Long term capital management was saved by the Federal Reserve, as it had great systemic exposure..

They had merton Scholes who invented the black scholes options pricing models,

and noble prize winning economists and mathematicians on board, and they still failed..

i actually heard the audio book about the long term capital management collapse. Supposedly they had all the probabilities calculated and a once in a live time event occurred that caused them to fail, the event like that was only suppose to occur once in every 150 years or so according to these experts tables

[Fury]

ya, i sent resumes to D.E Shaw, but they wanted SAT scores..i don't know how SAT scores and picking stocks or other instruments are correlated exactly. But they shut me down in the early phases, as i didn't quite meet that criteria

Look at that biggest Hedge fund collapses in history, Amarath Capital, they required a bare Minimum of 1500 at the SAT's on a 1600 point scale..

Also looks at all the Noble Prize winning academics at Long term capital management, and we know how they worked out

I worked at two smaller hedge funds in Greenwich in the past, and i didn't even have to interview at all..that's more my style..

I know a lot of headhunters for PE use SAT scores as a means of separating out candidates because everyone has taken them but I didn't know Shaw uses them. Wonder if they do it for PhD guys and graduate degree holders as well.

Not that it's worth beating yourself up over. 400 or so people interview for every opening at that place. Methinks that if you're not holding a Math PhD from MIT or Harvard with honors then you don't stand much of a chance to begin with.  

Well Long term capital management was saved by the Federal Reserve, as it had great systemic exposure..

They had merton Scholes who invented the black scholes options pricing models,

and noble prize winning economists and mathematicians on board, and they still failed..

i actually heard the audio book about the long term capital management collapse. Supposedly they had all the probabilities calculated and a once in a live time event occurred that caused them to fail, the event like that was only suppose to occur once in every 150 years or so according to these experts tables

Did a lot of work with Scholes formulas in my classes this year. Interesting stuff.

I've been reading lately that a lot of people think that a lot of problems are stemming from the fact that these guys are coming from non-financial backgrounds.

No HF is invulnerable. Outside of RenTech's medallion fund, their other funds have been doing shitty this year. Citadel was bleeding cash last September too.

[Bindare_Dundat]

Well Long term capital management was saved by the Federal Reserve, as it had great systemic exposure..

They had merton Scholes who invented the black scholes options pricing models,

and noble prize winning economists and mathematicians on board, and they still failed..

i actually heard the audio book about the long term capital management collapse. Supposedly they had all the probabilities calculated and a once in a live time event occurred that caused them to fail, the event like that was only suppose to occur once in every 150 years or so according to these experts tables

What book was it? Thanks.

[GigantorX]

Level 3 communications is dead in the water.. maybe purchase some Level 3 bonds, as buffet owns a large percentage of the company, and it looks likely the bondholders will own the company very soon

Ugh, I know. They were trading at .30 for the longest time and I was going to buy up a ton of shares....but didn't. Rumors of a Google buy out, nothing.

They own a ton fiber optic/bandwidth, much of which is still dark since the internet bubble burst so many years ago. I was hoping they could hold out but UBS put the sell order on them.

[nicky.smth]

What book was it? Thanks.

http://www.amazon.com/When-Genius-Failed-Long-Term-Management/dp/0375758259

[Benny B]

There have been many rallies from 1929 to 1933 also but overall it was downhill.

Bezerk, you posted this knowing full well that "Doomsday" - getbig's self-appointed Chief Economic Correspondent - would quickly chime in to tell you that this doesn't mean anything and that the Dow is headed down to 3500. The world is making a mass exodus to other world currencies and dumping the dollar. This is fact...because it came from getbig's Doomsday. 

The world is in a state of permanent collapse from which we will never recover, BezerkFury. According to "Doomsday" you should know this. All of Obama's policies are doomed to failure.

[nicky.smth]

I know a lot of headhunters for PE use SAT scores as a means of separating out candidates because everyone has taken them but I didn't know Shaw uses them. Wonder if they do it for PhD guys and graduate degree holders as well.

Not that it's worth beating yourself up over. 400 or so people interview for every opening at that place. Methinks that if you're not holding a Math PhD from MIT or Harvard with honors then you don't stand much of a chance to begin with.  

Did a lot of work with Scholes formulas in my classes this year. Interesting stuff.

I've been reading lately that a lot of people think that a lot of problems are stemming from the fact that these guys are coming from non-financial backgrounds.

No HF is invulnerable. Outside of RenTech's medallion fund, their other funds have been doing shitty this year. Citadel was bleeding cash last September too.

yes, the hedge fund industry isn't immune..Partly because account holders had to make redemptions, and hedge funds were forced to sell their most liquid positions to cover those redemptions. However, they performed better than mutual funds as a whole i believe...many smaller players were killed. The firm i used to work for was killed, and my 200 dollar retirement fund invested with the company was liquidated for 45 dollars or so..I never had confidence in the firm..The head of the firm was a Tiger alumni. There strategy was long/short equity ..However, the traders were pure idiots.  i wasn't allowed to own any stocks at the time i worked there.


Yes, Private equity firms such as Blackstone, fortress, ceribus, etc are all bleeding cash..the PE market is less liquid than the the NYSE, NASDAQ ..Investment banking and private equity completely stopped..I bought Blackstone stock at around 4, and got out at around 11 for a nice gain..

Bridgewater associates in Westport isn't doing to bad, and it appears they are hiring people as well

[nicky.smth]

Ugh, I know. They were trading at .30 for the longest time and I was going to buy up a ton of shares....but didn't. Rumors of a Google buy out, nothing.

They own a ton fiber optic/bandwidth, much of which is still dark since the internet bubble burst so many years ago. I was hoping they could hold out but UBS put the sell order on them.

well you could have rode it upwards for a little while for a nice ride. However, i'm pretty sure there going down soon...they have like 7 billion in debt...Look at there balance sheet...It's just a matter of time, before Buffet own the company..he's owns like 37% of the debt

[Bindare_Dundat]

Bezerk, you posted this knowing full well that "Doomsday" - getbig's self-appointed Chief Economic Correspondent - would quickly chime in to tell you that this doesn't mean anything and that the Dow is headed down to 3500. The world is making a mass exodus to other world currencies and dumping the dollar. This is fact...because it came from getbig's Doomsday. 

The world is in a state of permanent collapse from which we will never recover, BezerkFury. According to "Doomsday" you should know this. All of Obama's policies are doomed to failure.

"Doomsday", I like that. I should check if that handle is already taken.   

[GigantorX]

well you could have rode it upwards for a little while for a nice ride. However, i'm pretty sure there going down soon...they have like 7 billion in debt...Look at there balance sheet...It's just a matter of time, before Buffet own the company..he's owns like 37% of the debt

I know, but I'm def. not a rich man and have to plan and pay for a wedding so I saw it at .39, was about to put in a market order and then thought better of it. My other investments are doing pretty good. Nothing nuts.