Rick's Revolution-- Let the Tea Party Begin!
Rick Santelli erupted on The Kudlow Report- He ripped up and tossed the Obama bailout plan on national TV.
Sunday, February 22, 2009
Friday, February 20, 2009
Chicago Traders Mock Obama's Housing Bailout Plan
CNBC´s Rick Santelli and the traders on the floor of the CBOE express outrage over the notion they may have to pay their neighbor's mortgage, particularly if they bought far more house than they could actually afford, with Jason Roney, Sharmac Capital.
Saturday, February 7, 2009
Study shows upwards of 80% of hedge fund employees never actually knew what the word “hedge” meant
Chicago, IL—A recent study conducted by the Gallop Group showed that of 5,000 hedge fund employees surveyed during 2006-2007, 83% of respondents were unable to correctly define the word “hedge.”
“It’s just like, you know, part of the title” said one trader confidently. “Another way of saying ‘badass’ fund or ‘rockstar’ fund.” “My Range Rover is hedge,” he insisted, as if to corroborate. Other responses were equally absurd, ranging from “a Greek word” to “some Jewish dude’s last name.”
When told that hedging involved systematically eliminating risk, most subjects just stared ahead blankly. Others checked the time. Several respondents were able to eventually grasp the concept, but they found it quite novel. “Ohhh…you mean that…” said the portfolio manager of a $500M fund, as if a light bulb had gone off inside his head. He then added: “Yeah, we didn’t do that shit at all.”
“It’s just like, you know, part of the title” said one trader confidently. “Another way of saying ‘badass’ fund or ‘rockstar’ fund.” “My Range Rover is hedge,” he insisted, as if to corroborate. Other responses were equally absurd, ranging from “a Greek word” to “some Jewish dude’s last name.”
When told that hedging involved systematically eliminating risk, most subjects just stared ahead blankly. Others checked the time. Several respondents were able to eventually grasp the concept, but they found it quite novel. “Ohhh…you mean that…” said the portfolio manager of a $500M fund, as if a light bulb had gone off inside his head. He then added: “Yeah, we didn’t do that shit at all.”
Friday, February 6, 2009
DOUBLE DOWNED
Doubledown Media, the five-year old publisher of Trader Monthly, Dealmaker and other titles aimed at financial professionals, has put itself up for sale!
Tuesday, February 3, 2009
Tuesday, January 13, 2009
In High-Stakes Stock Trading, Finger Length Matters
For all those whose ring finger far outstretches their index finger, British researchers have pinpointed the perfect job: high-volume stock trader.
According to a new study, having a relatively long ring finger augurs well for success in those high-stress financial arenas where fast thinking, good reflexes and good old-fashioned guts matter most. A lengthy fourth digit, the authors note, indicates greater exposure to testosterone in the womb, which in turn gives what they call "high-frequency" traders a biological leg up by encouraging the development of the right mix of mental attitude and physical skills for making money in a cutthroat business.
According to a new study, having a relatively long ring finger augurs well for success in those high-stress financial arenas where fast thinking, good reflexes and good old-fashioned guts matter most. A lengthy fourth digit, the authors note, indicates greater exposure to testosterone in the womb, which in turn gives what they call "high-frequency" traders a biological leg up by encouraging the development of the right mix of mental attitude and physical skills for making money in a cutthroat business.
Friday, January 9, 2009
Financial blogger arrested in South Korea
South Korea said on Thursday it had arrested an elusive blogger accused of undermining the country’s financial markets with his doom-mongering, ending a case that has illustrated government unease with the growing influence of online gossip in the world’s most-wired economy.
The case comes amid government efforts to combat negative comments on South Korea’s ailing economy in the media and from private sector economists. The export-dependent economy has been among the hardest hit in Asia by the global financial crisis.
The case comes amid government efforts to combat negative comments on South Korea’s ailing economy in the media and from private sector economists. The export-dependent economy has been among the hardest hit in Asia by the global financial crisis.
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