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      07-07-2011, 12:20 PM   #36
scorcherjf
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Quote:
Originally Posted by mact3333 View Post
2. you dont think a CPA takes finance classes?......why dont most people in banking understand fractional banking?...why dont they teach how banking works in college?...hmm...so we must learn and dig info like this on our own?...hmmm...odd.
First of all the CPA is a designation in which you just have to pass an exam so no, they don't have "classes" in the usual sense but I'm sure you know this since your wife has one. Also, the finance that they would cover is financial reporting and statement analysis and MAYBE a little corporate finance. The finance classes taught in most quantitative graduate degrees are usually geared around probability theory and arbitrage pricing theory which is a very narrow subject and makes no claims about the economics of the financial system as a whole. Most MBA classes will teach finance from a corporate finance perspective looking at ratios and mergers/takeovers etc. All of these classes don't advertise that they'll teach you how the world of finance works, but rather a set of specific tools for a specific area of finance. Tell me which degree I should have chosen in college which would teach me "how the world works"? Obviously you have to do a little work yourself...

I'm not sure who you talk to in "banking" and whether or not they understand fractional banking isn't up to me to decide but there are MANY different jobs in "banking" and you can't expect all of them to know everything about the financial world. Kudos to you if you know more than a "banker" but to be honest it doesn't take much.

Quote:
Originally Posted by mact3333 View Post
3. you imply I use charts only...dont think so...I was watching CDS and RMBS credit spreads before you were prob working...how do you think I sold most real estate holdings in 06'???...why I went short financials in 08'...I watch it all...I look at M2 and M3(non-published now, I wonder why)...gotta watch money flow into certain stocks and sectors...Elliott Wave, Dow Theory, Effective Volume, Mkt delta....they are all useful to some degree but the key is to synthesize all the info to something useful for yourself...you imply alot of things but you have no idea what I use and how I trade...techn. analysis is only a part of the equation.
Fair enough, you synthesize all that information to use with your trading which is great. I never claimed to know what you used but just reading what you talked about in this thread is all I have to go on which was mini cup handles, triangle breakouts, and VIX breaching bollinger bands and arrows pointing to a couple market minimums which is easy to point out after the fact.

Quote:
Originally Posted by mact3333 View Post
5.with more experience, imho you will respect tech analysis and volume data more...TA and volume data doesnt lie...but people do.
Agreed. I also like to extract information from data and not "people" but after a while you realize that you can't turn everything into numbers and indicators so there's a time and place for both imo. A school won't teach you the proper combination nor how to act on them so it seems like you've figured it out, good for you.
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