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Saying CMT is worthless is wrong. There are many people out there (not
me) with a CMT that are excellent traders and analysts.
You can have a bad technician with CMT... So what?
You get each day CTAs CFAs that are utter crap and the certification is
still highly regarded nevertheless. I personally know many PMs with
plenty of certifications but I would not trust them with £10! Each time
a CEO is fired for abuse, stealing money etc this does not mean that all
the certifications he got or worse the REGULATIONS are rubbish because
one is a criminal CEO.
So Series 86 17 etc are crap when you have some one losing money or
laundering money etc
Mark really you are quite wrong.
Do not confuse a certificate with the ability/professionality of a
person.
What about the CFA after Grubman and Blodgett and Abby Cohen....
I do agree that maybe the OLD type of technical analyst is DEAD in these
big companies (Citi, HSBC here in London to give you another example -
and n HSBC there was NO CMT). But maybe not entirely for TA faults...
Maybe it is the thick mentality of these managers
Technical Analysts will move in different companies, smaller ones. They
will re-invent themselves.
Maybe it will be the end of the rubbish that it is Gann and Elliott
waves finally - and T.A.s should become semi-Quants and offer somewhat
proof that their analysis can offer a positive expectancy in trading.
Who knows?
IF one follows your line of thinking Mark, one should say also that Phd
are shit only because of what happened in LTCM. There were only PhDs
there if I recall correcly and look what happened. So a PHD would not be
worth a penny to trade as well? Happy now?
So those companies hiring PhDs are going to screw themselves sooner or
later according to your thought process
What about that?
Ciao
Riccardo
> -----Original Message-----
> From: Mark Simms [mailto:mar.ko@xxxxxxxxxxx]
> Sent: Friday, February 18, 2005 5:31 PM
> To: omega-list
> Subject: RE: Salomon Smith Barney Technical Analysis is gone
>
>
> "..> Assuming Louise Yamada is one of the better TA people,
> what does that say about TA......"
>
> EXACTLY. Based on this news, I don't think a CMT cert now is
> worth the paper it's printed on.
>
> Check the HedgeFund job sites: PhD Quants the only one's in
> demand for high frequency trading systems.
>
>
>
> > -----Original Message-----
> > From: Henri Amand [mailto:h.amand@xxxxxxxxx]
> > Sent: Friday, February 18, 2005 9:34 AM
> > To: omega-list
> > Subject: Re: Salomon Smith Barney Technical Analysis is gone
> >
> >
> > indextrader wrote:
> >
> > > I'm sure if they were any good and generated a profit
> over and above
> > > what was needed to cover their overhead, they'd still be around.
> >
> >
> > Assuming Louise Yamada is one of the better TA people, what
> does that
> > say about TA......
> >
> >
> >
> > >> Dear fellow colleagues and friends
> > >>
> > >> From today Louise Yamada TA dept. @ Salomon is no more
> > >>
> > >> The whole department proud of decades of tradition of
> charting is
> > >> gone, victim of the latest "efficiency" cut
> > >>
> > >> I am appalled by this event and lost for words
> > >>
> > >> Riccardo Ronco
> > >> FBR Intl. London
> > >>
> > >> --
> >
> >
>
>
> --
>
>
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