|
PureBytes Links
Trading Reference Links
|
Hi pal,
I think money is the end, not the means or reasoning.
To look at it from other perspectives:
(1) Statistically speaking, there should be a guy who made round about the
same money by always being gamma long. (I don't know him yet.)
(2) The distribution of making a money (eg. in trading) is pretty skewed. If
you start with say 1 million US$, your bank or broker won't (rarely) let you
lose the combined riches of this guy. So you see many guys losing, some guys
winning, and few guys winning massively (being positive outliers in your
distribution). I think it is called survivorship bias.
Nevertheless I think it's always a combination of skill and luck/randomness.
What about the Sharpe ratio or Kelly fraction of the track record?
Thanks,
Soeren
Btw: I would bid for some low volatility in ROCHE GS if this guy has
something to sell...
> Hello Soeren,
>
> when a man has
>
> a 13 million dollar house in highland park, texas
> a 17 million dollar house in beaver creek, colorado
> a 16 million dollar 12 passenger challenger jet with 6' 2" of head room
> a 15 year track record with never a loosing year
> a broker deal with one of the worlds largest banks
> a privately owned bank
> a restaurant chain, several
> a bout the largest hedge fund in texas
> a professional soccer team
> a million dollar market research budget per year
> a corvette collection of about 20 cars
>
> and he tells me to sell options, not to buy them - i unlike you know
> what the reasoning is.. maybe now you understand what the
> reasoning is?
>
>
> >> He told me there were only three rules to working for him.
> >>
> >> 1. You can never buy any options, we only sell em.
>
> SS> What's the reasoning for being always gamma short?
>
> SS> Rgds,
> SS> Soeren
--
GMX - Die Kommunikationsplattform im Internet.
http://www.gmx.net
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|