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Osborne Copies Obama To Save Economy-Changing Course

13

Comments

  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    purch wrote: »
    Right.

    Spent the last 15 minutes reading all about Quantum Physics.

    Now I'm off to tell that Hawking geezer where he's going wrong :eek:

    Then again I saw Astro Physicist on Bloomberg discussing the markets, must have been one of derivative designers :)
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    edited 8 March 2013 at 11:18PM
    robmatic wrote: »
    Is he going to be copying Obama's swingeing budget cuts as well?

    Are they really that swingeing. A relative drop in the ocean and what will they target?
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    StevieJ wrote: »
    Then again I saw Astro Physicist on Bloomberg discussing the markets, must have been one of derivative designers :)

    My ex-employers had a bone fide rocket scientist working on the quant desk. Ex-NASA!

    I'm quite disappointed that my current employer's quant desk doesn't have one. In fact they're all depressingly normal on that desk.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Generali wrote: »
    My ex-employers had a bone fide rocket scientist working on the quant desk. Ex-NASA!

    Wasn't the fundamental problem that as complex as you could programme hedge trading to make a profit. There was no hiding if the markets turned red across the board. You were basically screwed.....
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    Wasn't the fundamental problem that as complex as you could programme hedge trading to make a profit. There was no hiding if the markets turned red across the board. You were basically screwed.....

    It was in 2008. The only position to take was net short and even then there was nothing you could do with the money as Treasury yields were negative and the banks were going bust.

    As a broker famously said at the time, "This is worse than a divorce. I've lost half my wealth and I still have my wife!"
  • chewmylegoff
    chewmylegoff Posts: 11,469 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Generali wrote: »
    Can we petition to get a new board set up called something like, "I have no clue what I'm on about but will post anyway"? We could then send posts like the OP's there.

    But if we do that, won't this board become completely redundant?
  • purch
    purch Posts: 9,865 Forumite
    Thrugelmir wrote: »
    Wasn't the fundamental problem that as complex as you could programme hedge trading to make a profit. There was no hiding if the markets turned red across the board. You were basically screwed.....

    Yes.

    There were plenty of complex trading 'models' and programs around, even in the 80's with more and more appearing and they were all fine in normal markets, but as soon as there was a violent move and things got a little hairy they were next to useless. Under those conditions it was always the trader who could think quickly and outside the box who would thrive, and computer programs are not so good at that.
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • purch
    purch Posts: 9,865 Forumite
    Generali wrote: »
    My ex-employers had a bone fide rocket scientist working on the quant desk. Ex-NASA!

    Before I left the trading world, the most likely to succeed graduates were either Physics or Chemistry bods. We did have a guy who had a farming degree :eek: from the Royal Agricultural College who turned out to be quite good, but he was the exception.
    'In nature, there are neither rewards nor punishments - there are Consequences.'
  • DecentLivingWage
    DecentLivingWage Posts: 738 Forumite
    Apparently the decision not to apply more QE is only temporary while they are waiting for Carney to arrive in July....
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    DecentLivingWage wrote: »
    Apparently the decision not to apply more QE is only temporary while they are waiting for Carney to arrive in July....

    LOL! You expect us the believe you have an inside track on what the MPC are doing when you don't understand the difference between monetary and fiscal policy.

    :rotfl:
This discussion has been closed.
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