where is my 1000, page-37

Loki, the Ascent Of Money is essential viewing, is it not?

The other series worth seeing is called Million Dollar Traders (I think) and its on SBS. They got a bunch of non-traders, put them through two weeks of training and handed them over to a 1 million pound hedge fund and said go for it. The amazing things that have struck me are:

1. They do not work together. They do not have a meeting at the start off the day to talk about potential strategies and bouce ideas around, even though they all work for the same fund and bnext to each other!
2. They use paper invoices to hand their trades in to the trading boss.
3. They make trades over the phone!

I guess I'm not that surprised really, it is the UK after all. I suspect the paper thing is a governance mechanism so they can keep control over what is going on.

Anyway, it was filmed at the hight of the GFC last year and I was totally amazed they werwen't shortiong the hell out of everything. Not that I agree with shroting fundamentally, but it is a legal trading method and was the only way to make money last year.

Now, re: gold - yes extreme volatility at the moment. Bounced off 960-ish last night like ot was made of titanium! My stratgey - strap in and hold and not try to be too smart about it.