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2008 Christmas Card from your Investment Banker


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This is great chinkie - although it is funny to talk to other traders as anyone who trades anything long/short always has results which are strategy as opposed to market specific. But yeah, the mutual/pension fund long only LT buy and hold guys have equity curves that look just like that.

Interestingly enough, my 2004 was marginal to poor in the grand scheme. I did a little under 14% that year. And the intraday volatility produced a record year for us this year returning nearly 160% - over 110% of which came from October and November alone. Too bad that kind of volatility won't last. But even if it did now that the market knows it can happen, expectation will identify and level that inefficiency that we happened to luck upon. So it is doubtful that the same conditions would produce a similar return in the future if the exact same thing repeated... ;)

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This is great chinkie - although it is funny to talk to other traders as anyone who trades anything long/short always has results which are strategy as opposed to market specific. But yeah, the mutual/pension fund long only LT buy and hold guys have equity curves that look just like that.

Interestingly enough, my 2004 was marginal to poor in the grand scheme. I did a little under 14% that year. And the intraday volatility produced a record year for us this year returning nearly 160% - over 110% of which came from October and November alone. Too bad that kind of volatility won't last. But even if it did now that the market knows it can happen, expectation will identify and level that inefficiency that we happened to luck upon. So it is doubtful that the same conditions would produce a similar return in the future if the exact same thing repeated... ;)

Isn't that the truth about volatility - had I had the cash to be in the market I would have been able to make twice my yearly income on volatility trading alone in the last 6 months. As it was, I was long good fundamental positions... which will bounce back eventually, but too late to do anything, with all the trades expiring this month :(

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