damnit i cant even get through it - anyone know a site besides youtube?
^ awesome man, thanks!
good one.
if you have trouble viewing it like i did (i already had a massive CODEC library, but still couldn’t view it), this free player plays it http://www.videolan.org/
they are using elliot wave theory?! [@ 11 min]
@ 14 mins talking about the impending CRASH!!! this is so educational!
this makes the academic argument about efficient markets and why technical analysis doesn’t work hilarious
I don’t think anyone doubts that TA does not work in short time-frames trading for commodities or global macro, pretty sure every single trader in that situation uses TA to some extent.
i am not referring to traders (the people who live in the pit) i am referring to people to people who discuss this in an academic way, hence the usage of the phrase “academic argument”
Man it would be so sick if they did a version of this today with like John Paulson, John Arnold or even Tudor again. I wonder what crazy things Tudor can do now with all the technology and models out there.
if they did it today, it would be a bunch of phd nerds sitting in front of a computer programming in C++ i am looking forward to be one of those nerds
Efficient markets are a joke. Behavioral finance is a far better “fit” to what we see in the markets.
If you show up at a client presentation and start talking of “correlations between the 20’s and today” you will be laughed at, no doubt. You have to remember that data was very scarce back then, anyone with a chart had almost “insider information” 
. My boss made his money trading currency options back in those days (LEH trading desk at first then set up his own shop that was later bought by MS) , he told me that he was constantly selling options in fully hedged positions and he was able to capture spreads just for having the quotes from different markets (he was in Zurich back then) and a simple computer program (he’s an MIT electrical engineering grad) to set up his “box” (that’s the term he uses for some reason). Obviously that all stopped working now that everyone has access to the information.