John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: isopatch who wrote (17901)	3/13/2016 6:59:52 PM
From: John Pitera	2 Recommendations Read Replies (1) of 33421

Hi Iso, I've known Chip for 17 years or more. We've talked on the phone several times way back in 2000 or so... there is a lot of history on SI.... Chip's a real quality guy. My friend Henry Volquardsen, who I used to work with for couple of years was one of the sharpest guys on Long dated FX trading at Citibank. He was a very active poster here back in the early days before the Brad and his brother sold the SI and they started putting ads up. Henry was in NY at 55 water street and I was in Sydney on the Bond desk and there were huge opportunities with Australia having a massively inverted yield curve and the AUD collapsing from 1.15 to the USD when it was floated in 1985 and then crashing in 1986 all the way to .57 cents. FX was the cash cow of Banking and Citbank was #1 making $800 million.. Swaps books had really big spreads back then as did spot and forward FX and with customer orders and being able to arbitrage the Sydney Bond and bill futures against the physical market and then being able to create a book of 3 and 5 year forward positions..... you have corporate custormers that need to hedge and it's not a deep transparent market. Even the way you market to market positions can be done by different valuation techniques. Message 16942824 Message 16964601 I have actually wanted to compile Henry's Posts from the Derivatives thread and the Banking and Capital Markets thread and create a little book "The consolidated wisdom of Henry Volquardsen"..... The guy I speak of in the threadhead Antman,, was a very active guy who got us talking to Bill Meehan of Cantor Fitzgerald who was their chief market commentator and Antman actually had Bill slip the word Myth into an interview on CNBC back when we were spending some time on the Naked Truth.. B K a Myth thread. Lots of history....... My best regards to everyone, John

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