From: Derek Hillen
Sent: Thursday, December 01, 2011 12:34 PM
Subject: Hocus pocus, try to focus
“Fake it until you make it.” - Steven Tyler
Covering Their Shorts
The Dow had its biggest jump in 2 1/2 years, rallying 490 points and 490 stocks in the S&P 500 finished higher last night too. Other coincidences show China easing by slashing the RRR (50 bps) for the first time since 2008, two hours before global coordinated central bank action, thus drawing a line under falling markets for now and causing a lot of short covering. The magic trick was to avoid European Armageddon, at least until December 9th when euro area finance ministers will hold another meeting. (The result of this is likely to be….another meeting). Obviously, the news about to come out of Europe, from one of their shaky banks, was SO bad central banks were forced to act. DoClick here to continue reading
By Derek On November 29, 2011
Somewhere in Russia – Now That’s a Party!
We have two new interviews up which are worth listening to: “Rasputin,” and Joe Hancock. “Rasputin” is a hilarious and colorful figure who wants to protect his privacy after growing up in Soviet Russia and becoming head of the local Communist Youth League. Ditching communism and the Party for the bright lights of Wall Street, he is now active in finance here in the dark beating heart of capitalism, Hong Kong. Joe is head of Mirae sales trading and talks about how he earns his crust and throws in a nice tattoo story for good measure as well. Who was that client?
Click on the links under “Conversations,” or listen and subscribe via the iTunes button.
And More from “Broken Arrow:”
Riley Hale: You’re out of your mind.
Vic Deakins: Yeah. Ain’t it cool?
Riley Hale: I’m serious, Deak, your mind has taken a walk off
By Derek On November 22, 2011
In the financial industry discretion is a key attribute to success. This is one reason hedge funds are loath to publish their stock holdings. Sometimes this borders on secrecy as it doesn’t pay to let your competitors know what you are trading; they will just trade against you.
In keeping with a high level of discretion, the trader below did not want to go on record with a full blown interview posted on iTunes. (By the way, we are up to 1,000 iTunes downloads!). He also declined to have his real name in print. He goes by the nom de guerre, “Broken Arrow.” I have been acquainted with this individual for many years and know what he writes to be factually correct, based on his point of view and many years experience trading the Taiwan market.
“Broken Arrow” is extremely “plugged-in” and speaks fluent Mandarin, French and Russian. He is the ultimate cynic and has made,Click here to continue reading