Excellent read! Brilliant mind.

 

The question to ponder is how many of these financial theorists would be successful in the real world of trading financial instruments.

 

Robert Merton, for example, was inspired by Marschak--he and his buddies won the Nobel prize for Black Scholes--but in the real world of finance---he was a part of Long Term Capital Management when it exploded.

 

 

RE: QUANTS

 

One of the quants the Rev admires and has deep respect for--in my field---is this guy:

 

http://en.wikipedia.org/wiki/James_Harris_Simons

 

Rev

By the way folks, you can rest assured that stormborn has met James Simons in person---be patient he'll show up in a while and tell you.hahahahahaha

 

Rev

QUANT = REAL WORLD...you don't seem to know the nuances of LTCM. 

Good Jesus Lord!

 

Are you trying to score some sort of cheap points--asking the Rev if he understands the nuances of LTCM ?

 

Listen! I posted a link to James Simons---he made over 10 billion as a Quant trader---his firm, Renaissance Technologies, uses mathematical models to predict price changes in financial instruments.

 

I made the point that a lot of financial theorists like Nobel laureate Merton--in the real world of trading---they fail---Merton was at LCTM when it failed.

 

What kind of nonsensical response was this:

 

 

 

This stuff is crap. It's the casino economy writ large. The Austrians, and their identical twins the Brits, think of an economy as a big game played in virtual reality with money. Put them in charge, and they wreck everything (as they have in fact done. LTCM was just a foretaste of what was to come.)

Henry:

 

You mentioned "casino economy"---the Rev will tweak that---I say the stock market is a big casino---rigged and controlled by the Fed---and the economy is artificial.

 

Think about it---when you have artificial interest rates---you get an artificial economy---that's what the economy has become--ARTIFICIAL!

 

And regarding the stock market---it isn't a market any more---it has been corrupted by the Federal reserve---Ben Bernanke is now portfolio manager to the world.

 

RE: DERIVATIVES

 

They are here to stay--once you take the genie out of the bottle---it's not going back in.

 

Rev

 

 

I will refer to another thread where one chap berated another chap about having too much general knowledge. This article speaks volumes about your environment influencing your train of thought. It took a war to force this guy into a situation where he was inspired to produce groundbreaking work. To my friend who dislikes general knowledge... You need to move outside of your circle and absorb knowledge ... You never know you may be the next Marx!

=======

 

Now why would I want to score very cheap points with you? 

You need to stick to your conspiracy theories. After all you guys in the PPP don't appreciate risk management. You guys prefer the wewe in the wind approach - Rev Al calls it DOING. 

TK:

 

Why not share with the forum your take on the  "nuances of LTCM" ?

 

You mentioned "risk management"----the only thing you probably know about risk management is what you have read in text books.hahahaha

 

By the way, how well did the econ Nobel laureates at LTCM manage risk ?

 

Feel free to expound on LTCM---you are the one who mentioned "nuances"---stop with the one liners!

 

RE: HENRY

 

I think he'll run circles around you if you engage him.

 

Rev

 

 

 

I told you in the past that I would not be the one teaching you anything. I still hold that view. 

hahahahahahaha

 

You are afraid of being exposed---3rd rate/3 cents economics PHD--deathly afraid of posting anything other than one liners.hahahahaha

 

--->TK's favorite tool---the lectern.

 

 

You are just  TALKER TK bai!

 

Rev

 

As I told you are of low IQ and such it would be like water on duck's back. You are not intelligent enough. BTW, I went to the best center of heterodox learning. Eat your heart out. 

HA HA HA HA HA

 

TK THE BRAGGART ON SHOW!

 

TK---You have resorted to the common trick 3rd rate/3 cents academics use when challenged---brag about themselves and question the IQ's of those who challenge them.

 

Remember TK---you are a 3rd rate intellect who graduated from 3rd rate schools and teaches at a 3rd rate college in Florida.

 

YOU ARE DEATHLY AFRAID OF BEING EXPOSED ON THIS FORUM!

 

 

You see that folks---TK is your typical AFC man--all BIG TALK and boasty--but no substance---he hides behind his 3rd rate/3 cents Phd.hahahahaha

 

Rev

 

You can bawl and change font size/colors/etc all you want but I would not be baited into teaching you anything. I rather see you pine away ignorance. Here more info to make your heart hurt: http://www.kiplinger.com/slide...-2013/index.html#top

TK:

 

You have resorted to obfuscation--posting link to Kiplinger's top 10 public colleges.

 

The Rev isn't the least interested in the top 10 public colleges----you mentioned the "nuances of LTCM"----well, share with the message board those nuances.

 

YOU ARE AFRAID OF BEING EXPOSED TK!

 

Listen! You can con and dupe those kids you teach at that 3rd rate college in Florida TK---but on this message board you will be exposed.hahahahahahaha

 

Rev

Rev

 

You will make the man cry once again. His lies are slowly catching up with this AFC stooge.

 I see the next lamata woke up finally. 

 

The link burn yuh heart eh tiny man?

 

TK:

 

This is what your alter ego redux wrote in the other thread:

 

"i haven't the time to indulge your nonense right nowlil man . . . try me over the weekend" redux

 

" lil man"

 

hahahahaha

 

And This is what you write above TK:

 

The link burn yuh heart eh tiny man?

 

 

 

 

ATTN: ALL GNI POSTERS

 

"tiny man" vs "lil man"

 

PROOF: TK and redux ---> same person!

 

Why the need for multiple handles TK/redux ?hahahahaha

 

Rev

 

 

 

Wow that is some flimsy proof of logic.  

You are obviously profoundly a dunce. You want the gentleman to speak to the financial manipulations of a crooked company and because he refuses you are suddenly a genius! If you have something special say it. This is not a testing ground. One as you with ceaseless nitwit presentations can no more claim you say something smart ever muchness pretend you can authoritatively assess the smarts of others.

 Do you expect that man to have any aesthetics of thought or taste? He said Obama was a Kenyan Muslim dunce and Ann Romney was a hottie!

 

"Obviously profoundly" ?lol

 

Correct that sentence English duck stormborn.hahaha

 

By the way stormy--Tarron Khemraj posts under 2 handles on this forum---TK and redux----how about you stormy---any other handle ?

 

What is it about you TALKERS and multiple handles ?

 

Rev

 You are the grammarian pretending you know the letter of the linguistic laws....help yourself! What a fool!

 

TK is not redux. Only a fool like you, despite your pretense to acute powers of observation, would not know that

Storm:

 

What exactly was this gibberish ?

 

"One as you with ceaseless nitwit presentations can no more claim you say something smart ever muchness pretend you can authoritatively assess the smarts of others." stormborn

 

 

Don't ramble when you address the Rev.

 

Rev

Storm:

 

Did you say LTCM was a crooked company ? Where did you read that ? Archie and Jughead comics ?lol

 

By the way, TK was the one who wrote this:

 

"you don't seem to know the nuances of LTCM." TK

 

I asked him to explain the nuances of LTCM.

 

The 3rd rate/3 cents economics Phd was highly offended and started engaging in obfuscations.

 

Storm--you care to help out your bai TK---tell the forum what the nuances of LTCM was.

 

Rev

PAGING STORMBORN:

 

 

Stop hiding stormy---answer the question:

 

Was LTCM a crooked company ?

 

And feel free to help out TK/redux---explain the "nuances" of LTCM.

 

Rev

 

I see you are still begging for some lessons. But I told you in the past that if you learn these things by self-education you would have partly slowed the growth of your enormous ignorance. But importantly Guyana would be a better place. Good luck!

TK/redux:

 

Do yourself a favor!

 

Try and understand the meaning of the word "nuance".

 

In future you wont be dropping phrases like:

 

"you don't seem to know the nuances of LTCM."

 

 

CHECK THIS TK/redux:---->public information.

 

* LTCM in the  1990s engaged in arbitrage deals.

 

* As their capital base increased---they engaged in more aggressive trading strategies

 

* They assumed highly leveraged positions---seeking to make bigger profits

 

* By 1998 LTCM had a debt to equity ratio of 25-1(LTCM had equity of 4.72Billion and had borrowed 124.5B with assets around 129 Billion)

 

* LTCM collapsed in late 1998

 

* They were bailed out---under Fed supervision

 

===================

 

So TK--what "nuances" were you talking about ?

 

Send your alter ego redux--let him respond---since you are too ashamed to do so.

 

Rev

 

 

 

 

TK, like other fervent admirers of the Casino Economy, is at a loss to explain to others why it might be a good thing. In TK's case, he is reduced to lame attempts at repartee.

it used dubious analysis, skirted tax laws, ruined its equity and despite being bailed out, folded. That the execs walked away intact and its shareholders suffered losses accounts to theft from where I stand.

Is Rev BGurd's son or is the rev's parents siblings?  I mean it is not possible for one person to be this stupid. This guy is stupid enough for his entire family. Wrong end of the gene pool son. wrong end.

drugabeer has one son and he is a around 14 and is a very talented musician. The curse of ignorance sometimes skip a generation. In this instance it skipped. Rev is a talentless moron  and not to be placed remotely in the character of that wonderfully gifted boy

 

 

Stormy:

 

Lemme get this straight!

 

* Using "dubious analysis" makes a company crooked ? By the way LTCM was caught up in the downturn during the Russian financial crisis---too much leverage---and they got crushed.

 

* Skirting tax laws---LTCM claimed 100 million in loses that were disallowed by the UD district court of Connecticut---that makes a company crooked ?

 

* A company taking huge risks---and engaging in huge financial leverage---and in the process getting its equity wiped out---that makes a company crooked ?

 

In that case stormy---engaging in dubious analysis and skirting tax laws--most companies in the United states are crooked!hahahaha

 

 

BOTTOM LINE!

 

3rd rate/3 cents economics Phd, TK, came on this thread and talked about the "nuances of LTCM"----he is yet to explain what he means by "nuances of LTCM" ?

 

Rev

 

 

 

Like I said if this bai had one ounce of sense he woulda use Google since he so interested. Your diapers need changing.

 

Brudda:

 

You seem to be a rather angry and bitter man!

 

I know stormborn suffers from male menopause---what's your issue bruddaman ?

 

Listen! Life is short--do yourself and your mental health a favor brudda---aspire to be like the Rev-- cool, calm, happy and joyful.

 

Rev

 

 

Is he boyfren

====

 

I am glad to see that I have elicited your research. I must be having an impact on you. You have raised an important issue in corporate governance whereby shareholders lose and executives gain. Now that you have seen some light you may want to rethink your earlier position on Mr Morton. Your most important contribution here is the notion of leverage, which is at the root of LTCM's failure.  I would urge you to dig deeper into this. Why did the risk management model fail? What role Russia's financial crisis had? Once you have completed these we will get into technical more issues. I hope you continue your quest for enlightenment; Guyana would be better off with one less ignoramus. It would take a lot more, however. Who knows it may dispel some of your racist prejudices which your flaunted with glee during the last US election. Good luck!