Sometimes wonder if they ever learned their lesson from their last great debacle, when the Bund had to come to their rescue. Cant help but wonder if their fingers did not get burned enough. Gut feeling. Perhaps that is enough? Have only been holding it for 22 years now.
Whoâs fingers? They did just the best they could do in their situation. Everybody cares first for himself. If you can play in a casino and keep the winnings without having to cover the losses, where is the error?
I mean with the GM bankruptcy at least the stockholders lost everything. With UBS that was not the case and that makes me wonder if there was some unknown interest involved.
I would have made millions with my UBS stock options if they would not have changed the rules somewhere in between, so I am not pleased with them anyhow. A lot has changed since Niklaus Senn. However, as they are traded in New York I will buy if my captân says so.
Marcelâs of course. Marcel Ospel - Wikipedia
In the 2000s, Ospel pursued an aggressive growth strategy in investment banking and structured finance, acquiring Paine Webber among others, and was considered to be one of the most powerful men in Switzerland.[6] But his strategy resulted in CHF 80 billion of losses to UBS[6] with the collapse of UBSâs Dillon, Read & Co. investment bank during the 2008 financial crisis. Ospel was forced to resign in April 2008, following pressure by the Swiss Financial Market Supervisory Authority, and UBS had to seek a government bailout in October 2008
Not just. The whole pension went down the drain.
Sometimes I wonder if my captain has a cristal ball.
For my gambling portfolio I doubled down on CVR Energy today, got them at $48.87 at the open and now they are already at $51.70.
Yesterday I was cursing the captain for making me buy more of that stock that already made me 125%. But then the same happened with my last double down, TPC and up it went to over 500% gain. I think I am not able to trade the stock market with my own brain any longer, thanks captân.
Now, the captain is nothing else than a set of written down rules. In case of a double down for the time sells (the ârentâ) the time starts over today. For the 500% sells the measuring point is the lowest entry.
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CVI was a sad story for me. I sold it to swap for PSX. Only the sale leg went through and the buy one didnât on the day. Itâs OK, Iâll be patient and let it trigger when it falls to the limit price, it has been volatile, then it went up and never looked back.
That is true and is probably OK. I mean, why should the taxpayers cover that? All pension funds that did hold GM stock lost that money too, so what.
A big financial institution cannot do that, it must be saved somehow. But why the hell the stockholders must be saved is not understandable.
Wasnât there a big public pension fund for public employees in Switzerland that went basically bankrupt and was saved? Taxpayers payed for that and I donât think this is OK. We have social services and supplementary social security in Switzerland, nobody must suffer hunger or homelessness. But why the hell we must suffer from the stupidity of state institutions?
I know exactly why I did take out all my pension fund money as fast as I could, even having to leave Switzerland for that purpose.
I think IB has a spread order type that even works for stocks (I did use it only for futures a long time ago, for the rolling).
Spread orders use the price difference between two instruments, you can define higher or lower. In your case it would be lower and then both orders are executed.
Let me check if that works for stocks tooâŚ
Yep, for U.S. stocks that works: Order Types and Algos | Interactive Brokers LLC
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Do agree. What is needed are rules and regulations preventing investment in the same company of the pension plan. And regulations limiting the risks. But good luck with that.
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I want to say that these limits exist but theyâre very high. Like 25% or so.
ETA: That above applied was some 20 years ago. Nowadays the limit for unsecured investments is 5% based on SR 831.441.1, Verordnung Ăźber die berufliche Alters-, Hinterlassenen- und Invalidenvorsorge.
Tomorrow is fed day. The probability for an interest rise are around 85%. Expect big volatility around 20:00 Zurich time.
I always found it a good idea to simply trade stocks that day, buy or sell with a limit far away and often it is hit. But this time there is no order planned by my captain.
Friday is witch day, many options and futures expire.
I suspect it will go bananas if they donât cut.
As I said, the bets are like 85% for a rise. That leaves 15% if they do rise. It will go bananas if they donât rise. If they cut interest the stock market will probably have its best day in history. But anyhow, volatility will be king.
In my youth I used to place traps on the ES future that day, in both directions. You have to do this in advance, the move is too fast to enter orders. But often my traps did work in both directions.
The traps consisted in a stop entry with attached limit and stop exit in both directions.
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Big sell day for me today. You can thank me for jinxing the rate increase later! 
Sold off: VICI, O, ALGN, CMCSA, ACN, CHTR, NESN.
EDIT: PAYC, NOW, also gone. CRM and INTU trimmed.
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Youâre not selling enough, @Phil_MCR â the VIX is still down for the day âŚ
Rise of 0.25% as expected.
Wait a min, the previous guy at this job got fired precisely because of the crazy idea of rising interest rates.
Not long ago the Prez was bitching around 3.5%âŚ
Iâm struggling with this question. Some, I re-invested elsewhere: other stocks, commodities. Some converted to CHF cash as dry powder or potentially to invest into Pillar 2, some into T-Bills while deciding.
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