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Politics : Ask Michael Burke
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To: Raven who wrote (660)8/22/1996 8:52:00 PM
From: Knighty Tin   of 132070
 
Alice, We just won't agree on this volatility thing. The folks who attend those courses and go to work on the floor are the folks I spent 10 years of my life putting out of business. Of course, it is not always just because they are following a bogus concept. The fact that most are undercapitalized is also a contributing factor. I remember all the calls from brokerage traders begging me to let them out of positions they put on because they understood the formulae but not the underlying security. And that was in stock options, bond options, and bond futures options. The CBT just helps these folks become cannon fodder, IMHO. But they have no other background, usually, so the mathematical models are probably better than just blind flailing about. Maybe. You also have to remember that the CBT makes money training these folks, so it helps to make certain most fail so they'll get a big new class next time. -G- Good luck, MB
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