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Redditors gave Wall Street traders an absolute pasting


monkeytassle said:
Partly but as you attended and were subject to subsequent spot tests.... I assume you know the rest ;)
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I don’t actually have to do it because I’m not involved in proprietary trading but I do have to make sure that the people who are, do. I did it once. I’m glad I’m not on my own list. The person who wrote the training wants shooting with shit.
 
HellsBells said:
I don’t actually have to do it because I’m not involved in proprietary trading but I do have to make sure that the people who are, do. I did it once. I’m glad I’m not on my own list. The person who wrote the training wants shooting with shit.
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I can summarise. Don't punt. Don't invest in hedge funds.
 
Town End Farmer Giles said:
Havent read the whole thread but is it not the case the banks have Chinese walls in place so for example the asset management arm, or private equity arm, or whatever, is a separate part of the business to the actual bank.

Im not overly familiar with Dodd Frank, of which i believe Volker is part, but is Monkeytassle not just saying that?
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One of my favourite lines in The Big Short (book rather than film):

"When I hear someone say 'Chinese wall', I think 'you're a f***ing liar'".
 
Town End Farmer Giles said:
Havent read the whole thread but is it not the case the banks have Chinese walls in place so for example the asset management arm, or private equity arm, or whatever, is a separate part of the business to the actual bank.

Im not overly familiar with Dodd Frank, of which i believe Volker is part, but is Monkeytassle not just saying that?
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Kind of. Chinese walls are in effect different to what you’re suggesting but yes, there is regulation such as the Ring Fencing legislation that Osbourne brought in. Volcker doesn’t ring fence anything per se, but I believe it’s rules that must be followed when trading in certain circumstances.
 
BigPeter said:
This something worth investing in or missed the boat?

@monkeytassle you will be our boards expert I'd expect.
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No comment. Ask the accredited pension fund guy
HellsBells said:
Kind of. Chinese walls are in effect different to what you’re suggesting but yes, there is regulation such as the Ring Fencing legislation that Osbourne brought in. Volcker doesn’t ring fence anything per se, but I believe it’s rules that must be followed when trading in certain circumstances.
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Oh god. Wall crossing. Ffs.
 
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HellsBells said:
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There's a lot of people on WSB who aren't really in it just for the money, they want to hurt these hedges. People are sending pizzas to GameStop shops, stuff like that.

The share price drop since yesterday seems to be totally artificially-created by the hedges, using very dodgy methods to make it look like the short% is under 100%, which it totally isn't.

*not financial advice.
 
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