Be a spiv. We TMM started out trading high yield and other very lightly-regulated markets, we quickly learned that some clients seemed to be just "too good"and would have to be priced accordingly. Now, without the informational advantage afforded to others we have learned to watch the tape for the kind of moves that are a trademark of someone buying the bejeezus out of the market, knowing something you don't. For Kovner it was the Russians, for TMM it's anyone with a red phone. So when things break out on NO news and policy is uncertain - just chase it.Now I only have to learn how to be a spiv. According to wiki, spiv it is a London Metropolitan Police acronym for Suspected Persons and Itinerant Vagrants (SPIVs). I know about iteration: I can solve any network using the Hardy Cross iteration method, but as for myself, I am too old to start itinerating. I'll just be on the lookout for silent breakouts.
Saturday, June 30, 2012
How to be a Spiv?
Macroman offers an idea that seems to me investable. What?