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AndyM


Total Posts: 2328
Joined: Mar 2004
 
Posted: 2004-08-13 16:05

I'll kick off:

From a large European bank's FX weekly:

'While we acknowledge that the rand is probably too strong from a long-term valuation perspecitve, we disagree with those who see it as "overvalued" '

The Dr Evil-esque quotation marks around 'overvalued' add a particular poignancy...


In Banach space, no-one can hear you scream...

apine


Total Posts: 1009
Joined: Jun 2004
 
Posted: 2004-08-13 21:38
i have always like the euphemism for sell:

source of funds

Too many people make decisions based on outcomes rather than process. -- Paul DePodesta

AndyM


Total Posts: 2328
Joined: Mar 2004
 
Posted: 2004-08-16 18:26
Bloomberg 17:00. European bonds fall as some investors judge yields too high

In Banach space, no-one can hear you scream...

kr
Founding Member
NP Raider
Total Posts: 3561
Joined: Apr 2004
 
Posted: 2004-08-16 18:35

Big Smile
that one's a real winner


my bank got pwnd

dgn2


Total Posts: 2065
Joined: May 2004
 
Posted: 2004-08-16 18:58
LOL!

...WARNING: I am an optimal f'er

RookieQ v2.0


Total Posts: 549
Joined: Jul 2006
 
Posted: 2004-08-16 19:02

I once took the AGEdwards 'top 50 stocks' list and created an equally-weighted portfolio, shorting every name.

I was up 35% in 7 months (the S&P was down about 13%).


jungle
Chief Rhythm Officer
CSD LLC
Total Posts: 3169
Joined: Jul 2004
 
Posted: 2004-08-19 10:18

heard recently....

"seeing sellers [of treasuries] on the uptick...uncertain whether this is short-term arbitrage against equities"

either i'm very dumb or that is stretching the limits of "arbitrage".


kr
Founding Member
NP Raider
Total Posts: 3561
Joined: Apr 2004
 
Posted: 2004-08-19 13:44
agree lately the govy / equity corr hasn't been too high, but at least earlier in the year I'm sure you could pretty much play equity indices in the off hours in the tsy mkt thru corr

my bank got pwnd

RookieQ v2.0


Total Posts: 549
Joined: Jul 2006
 
Posted: 2004-08-26 21:08

Junior analyst guy (me): I've built a pretty simple model for our position sizing, and it seems to show we have about half of our positions misaligned for the level of risk that we agree we want to take. I believe it's a pretty easy to rectify the situation, and we can still play around the fringes, but your own professions of risk and exposures are pretty much out of line across the board.

Senior Guy: So what exactly does this thing do?

Junior: Well, it's far from perfect, but it takes our allocations, derives 2 different measures of the risk inherent in the portfolio, assigns a user-defined risk budget to each position, one that defaults to statistics and another that is more qualitative.

Senior: What kind of statistics...

Junior: (moving on) Then it gives a static position size allowed and an acceptable range, both in an uncorrelated environment and one in which correlations are stressed and begin to converge. In each case, we are over allocated.

Senior: Well, I have always been under the impression that we should aim for being in the second quartile every month, because at the end of the year, that will put us in the top quartile.

Junior Guy: (stares blank for about 90 seconds...and then leaves)


AndyM


Total Posts: 2328
Joined: Mar 2004
 
Posted: 2004-08-31 12:10

"...the fundamental case for sustained AUD/NZD strength remains as absent as ever in our assessment (leaving aside arguments about valuation)"

...from the same gurus who provided the Rand quote.


My karma will run over your dogma.

AndyM


Total Posts: 2328
Joined: Mar 2004
 
Posted: 2004-09-01 18:12

Putting a positive gloss on things department:

'The Tuna Macro average on HedgeFund.net...is up -0.57% YTD'


My karma will run over your dogma.

RookieQ v2.0


Total Posts: 549
Joined: Jul 2006
 
Posted: 2004-09-01 23:34
"...have adjusted our ratings to short term outperform, long term underperform..."

jungle
Chief Rhythm Officer
CSD LLC
Total Posts: 3169
Joined: Jul 2004
 
Posted: 2004-09-10 10:23

a "one time shocklet".

so now we have caplets, wavelets, buy-to-lets and shocklets...


jungle
Chief Rhythm Officer
CSD LLC
Total Posts: 3169
Joined: Jul 2004
 
Posted: 2004-12-15 15:44

"With inflation low and short-term interest rates rising, we remain bullish on the highest quality asset in the world – the US Treasury Bond."

from ML.  


"we foresee carnage...[people] way overestimating the size of the exit door"

kr
Founding Member
NP Raider
Total Posts: 3561
Joined: Apr 2004
 
Posted: 2004-12-15 20:26
this from a loan desk:

The loan trading elves have been working hard the last few days to come up with some holiday bargins for your finest accounts. Here they are:

<proceeds to list one loan trading at par and three trading above par>

ahem... bargains?  didn't you say 'bargains'?


my bank got pwnd

Anthis
It's all Greek to me

Total Posts: 1180
Joined: Jul 2004
 
Posted: 2004-12-15 20:30
With inflation low and short-term interest rates rising, we remain bullish on the highest quality asset in the world – the US Treasury Bond."

from ML.

 

Come on, I cant believe it!!!!

How much this person is getting paid to entertain people? Tongue out

 


Αίεν Υψικράτειν/Τύχη μη πίστευε/Άνδρα Αρχή Δείκνυσι/Νόησις Αρχή Επιστήμης //Σε ενα κλουβί γραφείο σαν αγρίμι παίζω ατέλειωτο βουβό ταξίμι

tripitaka


Total Posts: 982
Joined: Jun 2004
 
Posted: 2005-03-08 11:55

some technical analyst (paraphrasing) :

when bond vol. is at a low, and remains low, analysis shows that a big move usually follows. Low vol. doesn't signal which direction the move will be...

so when vol is low, and stays low, it will be low until vol goes higher...interesting...


jungle
Chief Rhythm Officer
CSD LLC
Total Posts: 3169
Joined: Jul 2004
 
Posted: 2005-04-29 10:26

"bonds will only fall in value if investors decide to sell them".

from a JP morgan strategy piece this week. Smiley


the war is within

nsande


Total Posts: 622
Joined: Apr 2004
 
Posted: 2005-04-29 12:01

"In the fall of 1972 President Nixon announced that the rate of increase of inflation was decreasing. This was the first time a sitting president used the third derivative to advance his case for reelection." Hugo Rossi

AndyM


Total Posts: 2328
Joined: Mar 2004
 
Posted: 2005-05-04 15:43

From Bloomberg (I find Bloomberg columnists, with the exception of Michael Lewis and Caroline Baum, to be a particularly poor bunch):

'It's widely expected that a yuan revaluation will result in a stronger Chinese currency'

Thank you, William Pesek Jr. 


The invisible hand gave me the finger...

LongTheta
The Snowman

Total Posts: 3127
Joined: Mar 2004
 
Posted: 2005-05-07 23:15

AndyM,

Is that the Michael Lewis of Liar's Poker fame?


Time is on my side.

YukaRedux
Now with added evil

Total Posts: 650
Joined: Dec 2004
 
Posted: 2005-05-08 02:50

that's the guy - NI LEWIS for his columns.


If you love something, let it go; if it comes back to you, it's yours forever. and if it doesn't, hunt it down and kill it.

LongTheta
The Snowman

Total Posts: 3127
Joined: Mar 2004
 
Posted: 2005-05-08 03:57
Didn't he leave finance ages ago? Does he have anything relevant to say?

Time is on my side.

LondonPete


Total Posts: 1183
Joined: Apr 2004
 
Posted: 2005-05-08 04:30

LT, I'm not sure if that wass a joke but NI is the BB news command, hence NI LEWIS is for Lewis' column not his initials.

mlewis1bloombergnet


You might very well think that, I couldn't possibly comment.

LongTheta
The Snowman

Total Posts: 3127
Joined: Mar 2004
 
Posted: 2005-05-08 07:51
No, LP, it was not a joke. It was ignorance, so I deleted that part of my post Blush

Time is on my side.
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