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Mark
You can rest what you like
But you did NOT answer my question
The fact that the working environment does not look for CMTs THERE means
nothing.
UBS were looking for CMTs and certainly will not put an ad on those
websites.
You did not answer my question re: value of Phd after LTCM... Answer
that
It is only unfortunate that managers in these big firms are only looking
for fundamental analysis
And I know why
It helps to give a layer of seriousness when selling stocks and there is
cock-up someday
Unfortunately TA positions do not have the same value of "truth" as FA,
unfortunately
After Enron FA shows the real face but a TA would not have touched
Enron!
The reason that TA is not highly regarded in these firms it is only
faults of the very same technical analysis
People associate TA with lunar cycles and the like... So you lose
credibility
TA should use more numbers and become if possible more objective if it
wants to be taken seriously
More math - more test - more proof of some positive expectancy
But as someone else here said
FA sells
TA works
And Wall Street is all about SELLING - if I use TA it is because I want
to make money in the markets and not selling to customers
Spot on
Riccardo
> -----Original Message-----
> From: Mark Simms [mailto:mar.ko@xxxxxxxxxxx]
> Sent: Saturday, February 19, 2005 1:37 AM
> To: Omega-List
> Subject: RE: Salomon Smith Barney Technical Analysis is gone
>
>
> Search www.streetjobs.com for CMT.....result ? NO HITS
> Search www.monster.com for "market technician"....result ?
> One Hit, $35k salary per year plus bonus, forex Search
> www.monster.com for "CMT" using "Finance/Economics"
> "Financial Services" categories...result ? Two hits
>
> I rest my case.
>
>
> > -----Original Message-----
> > From: Riccardo [mailto:riccardo@xxxxxxxxxxxxxxxxxxxxxx]
> > Sent: Friday, February 18, 2005 2:56 PM
> > To: 'Omega-List'
> > Subject: FW: Salomon Smith Barney Technical Analysis is gone
> >
> >
> >
> > 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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