Cyprus...

[Matra et Alpine]

Yeah, we're not panicking. it seems the US media is tho' !!

The hand of Fox to put down socialist Europe ?????

Don't see the problem, it IS an issue that Cyprus has a skewed banking setup with few large holders in country and lots of outside money held in country for "other" reasons
Trying to come up with a solution that recognises that is important and the suggestion that the model of a tax on the larger amounts doesn't seem unreasonable. The alternatives are the nation funding to protect foreign investments.

This is no different really to Iceland banking crash. They TRIED to let foreign money in the country for a quick buck to fall. BUT had their arms strongly twisted up their bakcs by many - mostly the UK who are full of financial carpet-baggers !! But they did let the banks fall.

Compare Iceland with others now. Those who protected their banks are in stagnation and carry huge public debt through state ownership of bank assets. Iceland let them collapse , the investors lost lots. NOW they are growing. They don't have silly financial tools being created to support ongoing unsafe banks. Cleared the problem by one swift(ish) act. We (UK) are bleeding debt to cover the support we gave the shareholders and large depositors of the UK banks. I'd rather have seen a 10% rake off the top of my bank holdings as a one off rather than this increasing costs, increasing tax, decreasing confidence and growth we have now.

Go for it I say.

[Matra et Alpine]

Paint me with a broad brush why don't you.

In the UK LT there is a largely held view of that.
Of course here it's because the same people who caused the issue are protected, seek MORE protection and continue to take massive risks and pay massive bonuses when it doesn't fail too badly and no punishment when it fails worse !!
I think you need to repeat your moral high ground and do "sensible" invesments for "reasonable" returns and you can be proud to say you manage investments. BUT hwo many around you are the same ?
It's their tar that's falling on your Armani

[LTSmash]

LTSmash, you seem to have a passion for economics - genuinely - but you do not seem to enjoy your current job.

Why are you doing it?

It's a means to an end. Simple as that. Going to find that quiet life somehow.

Check out Venture Capital. I have never been happier. No joke, come Sunday afternoon, I am itching to get back to work.

Too many boardroom meetings and analyzing way more financial statements than I would care for; but I'm sure it's a riot for the true finance guys (I'm not one of them). Plus, climbing that ladder to reach the top of the totem pole takes longer. VC and PE hierarchy isn't as much of a meritocracy; in a sense. With what I do, It's all in my PnL... which is VERY strong I might add.

I think you need to repeat your moral high ground and do "sensible" invesments for "reasonable" returns and you can be proud to say you manage investments. BUT hwo many around you are the same ?

Not many. Most people in this business are superficial, pretentious bastards... x100.

[Matra et Alpine]

+1 lt

[LTSmash]

Bank of Cyprus’s Customers May Lose as Much as 60% on Deposits

Going to be a roller coaster tomorrow for US markets I imagine.

EDIT: Link fixed.

[jcp123]

Russia should be recapitalising their banks, considering the situation with their depositors...

[henk4]

Russia should be recapitalising their banks, considering the situation with their depositors...

Russian black money is unlikely to be repatriated to mother Russia...as Medvedyev said: The Cypriots are stealing money from the Russians that had already been stolen....

[Matra et Alpine]

LT it was back on the 25th that this was seen as pretty much the choice and the exchange guys certainly factored it in then as the drop showed.

Whether some are slower and only picking it up on April Fools day would surprise me

[LTSmash]

LT it was back on the 25th that this was seen as pretty much the choice and the exchange guys certainly factored it in then as the drop showed.

It's a little different when you trade daily volatility. My executions aren't made to forecast something a week away; if they were my strategy would be ruined. I trade on the information at the current moment in time. I trade momentum more or less, not two week forecasts.

[Matra et Alpine]

Yeah, crazy to see it take a surge at start of the day , to the have sense return and the decline from last week continue at "reasonable" rate.

Things like the peak this morning are what upset me as most likely caused by hedge bets on rates and folks not in the know getting caught out

[jcp123]

When I played the stock market simulators, that's what I was doing - watch news feed, and trade accordingly. Was able to lock in a solid 1% per week that way.

[LTSmash]

When I played the stock market simulators, that's what I was doing - watch news feed, and trade accordingly. Was able to lock in a solid 1% per week that way.

Yeah, equities just don't have the volatility and leverage though for large returns. 10-15% a week (sometimes in a single day...) compounded over year can be achieved in the more volume based derivatives; if you know what you're doing.

[jcp123]

Which I don't, I just ride the wave. Short bad news, long the good news. Pretty simplistic but fairly successful for an admitted amateur.

[LTSmash]

Short bad news

Even that takes skill to do properly. Problem with holding short positions is that the market is always looking for upward momentum after bad news hits. Unless it's a long term macro outlook, never hold a short position for too long because it can snap out of a downward trend really quickly.

[jcp123]

Even that takes skill to do properly. Problem with holding short positions is that the market is always looking for upward momentum after bad news hits. Unless it's a long term macro outlook, never hold a short position for too long because it can snap out of a downward trend really quickly.

Yeah, my instincts were never to hold short. Usually came out ok, once in a while got burned if I was unable to check 'em during the day.