在日本,有一本雜誌叫作”零勝三敗”. 暗喻日本隊在6月的世界杯成績就是一勝難求.以前這種講國家隊壞話雜誌是無法進大書店,多在一些怪怪的賣情色雜誌管道上架,沒想到現在連紀伊国屋都開始販賣,可見大家都很肚爛
今晚ECB就要宣布一件很重要的事. 這件事可能是ECB成立以來最重要的宣布.如果你在市場上,應該可以感覺到歐元區的traders電話中的興奮感,好像他們今晚要看世界大賽第七戰. 希臘以後要進repo市場借錢,拿自家國債當抵押品時要如何被對待.畢竟街上撿的垃圾是不能進當鋪借錢的.
BTW, in case you miss it,那個異常債價格解法是butterfly trade.
sammy甚麼阿嬤故事?
歐洲要不要自己搞個信評機構阿~~冏
回覆刪除maji
應該ecb會提一個內部評估程序庭.在配上信評平等...maji不覺得是跟市場對作好st trade時機?
回覆刪除試算表裡有兩個公式我從來沒看過，這比量子力學還難懂。
回覆刪除應該說先生娘的故事啦
回覆刪除sammy
對喔,欠了花景照跟先生娘...等五月找時間scan.把去年有參加的人邀回來
回覆刪除morris,那有.都是簡單的乘除法,很唬爛阿.
Have u read Satyatjit Das's Traders, Guns, & Money?
回覆刪除A comprehenisve collection of different derivatives products from its inception in 1980s to CDOs in late 1990s.
Many hilarious and sarcastic puns and aphorisms that might qualify as good writing by your standards.
-shepherd
hey, shepherd! long time no see. how's business? no, i havent read this one, but will add to my next amazon delivery list soon. thanks.
回覆刪除shepherd,對了! 那你比較喜歡leno還是obrien?
回覆刪除don't know that much about obrien. Preferred as a college kid letterman and thought leno too family-oriented (insipid, inane?). But of course now, more mellowed, might enjoy leno more.
回覆刪除Trading? Enjoyed the big daily volatility of 2008 very much. 2010 so far has been boring & submerged.
sorry u didn't like Ugly Americans. Think of it as Pearl S. Buck's writing being commonplace and unoriginal to us but Nobel-prize winning to Westerners.
-shepherd
I looove the story in ugly American, so inspired! don’t let me bump into a similar opportunity here I will be ugly Taiwanese.
回覆刪除So your tropical fish survive ok? are we looking at more fish or less in 2010?
The aquarium hobby was picked up as a means to alleviate the gut-wrentching trading environment during late 2008 (the stupid 3.5% daily floors). It did help, and is still enjoyable to this day. Also picked up cyclying this year.
回覆刪除(u saw my post for ur 3/10 article?)
-shepherd
Guess we are looking at less fish this year then!
回覆刪除Oh I missed that one.. you are right, everything is through RP borrowing,and liquidity is a threat. But 2 yr was very liquid though,we dont think about it too much. There were caps for both senior and junior traders, there was always quant people building models trying to find an “optimal “ position,if there is one? so we don’t eat too much and kill ourselves. The only thing was there was never any anomaly like the ones in the textbooks.
Guess what?? I just knew we might be able to manage ichiro’s asset this year. Hohohoo…
i thought u guys are private equity, not hedge fund
回覆刪除-shepherd
we are a long short, alternative investment fund.
回覆刪除so u do long-term value investing in equities (long only, i guess; paucity of choices preventing long-short), while others do trading?
回覆刪除u guys do trend-following? how about high-frequency trades?
-shepherd
Right, we have our own traders for the equity portion. our asset management partner outsources their 130/30 products, so we do have lots of short positions too. I know why you thought I was PE. I did work at a few PE projects, but our PE arm never made money here so the partners shut it down.
回覆刪除oh, trend-following or high freqency? btw, we have no style.dont tell our investors.
回覆刪除so u guys are short only to the extent of a 130/30 fund?
回覆刪除"we have no style." <--- good, then u r not susceptible to the "style drift" problems besetting the industry. How does ur PR firm put it --- "opportunistic", "eclectic", "adaptive"? lol. U wanna get drunk with old sellside next time u r in KHH?
daily volatilities is way down this year. u guys feel the same boredom as i do?
-shepherd
Sure, thanks for the invite. I love KH, great fun everywhere you go.
回覆刪除no, we have other short positions, mostly index futures, for the fund which charges performance fee. Just like any other long short funds, we adjust the ratio periodically. The way we do fund raising here is very different from those outside of Japan. I was just telling orange how weird the whole process can be. our pitch for the past years is really about china growth/commodities/tax saving. they might have mention “ trend following” in the prospectus but they all tend to be vague.
TWSE? We are never right on anything, its been more than just embarrassing. How come you didn’t join our plurk community? There are good insights there.
this is really embarrasing, even for an old sellside. how do i join ur plurk community?
回覆刪除-shepherd
i actually dont know. Let me ask around, meanwhile have you registered a plurk account? mine is "smandfriends"
回覆刪除shepherd,i added you on plurk. you sure you dont want a nickname on plurk site?
回覆刪除on plurk "shepherd..." is shown? or something else? thx
回覆刪除-shepherd
it shows shepherd813 now. no worries...I will write people in my plurk connection and let you know soon
回覆刪除paging shepherd813, please add plurk ID "PrudentmanJL", he will grant you access to various plurk discussions/conversations.
回覆刪除btw, how's my911 doing these days?