GAYS + CHANEL

I met one of my friends today for lunch. A brit who used to work for BT and now with me at school. I wanted some advice on some gifts that I wish to give to one of my female friends and asked him whether he has any girlfriend. Then he told me that he is a Gay. I couldn’t believe as he looked otherwise and I laughed it away and he got serious and told me that is a gay and was ready to take me out to prove. Fine.. so what! I didn’t feel bad and told him I am straight.. What I liked was his frankness. And then we had a shit load of conversation, though informative, on lesbians and gays. Good stuff –didn’t know that ,that world was so developed. At least now I know how to spot a lesb and avoid embarrassing situations later on.

Finally decided to get a ‘Chanel’ for her. I was confused between Eau De Toilette, Eau De Parfum and Parfum but thought it better to go for medium intensity and went for Eau De Parfum on N05 series. Hope she likes it.

Well this is my last week of bliss. Next week onwards school opens and am back in that wild world….

Crude @ 100$$$$

Bingo! Crude finally touched 100$!! This is something to go down into history books..
But after all the excitement and confusion, its time to think as to who did this trade.. Who was that guy, who made his mark in the history books as the trader @100$ /barrel.

Perhaps he just got bored of waiting for oil to pass the magic, but meaningless three-figure mark. Or perhaps he wanted a natty print-out for the office loo, a lasting memento of his moment in market history.

Regardless of motivation, it was a single small deal by this independent trader that on Wednesday pushed oil prices briefly to the unprecedented $100 a barrel level. And his name was...

Richard Arens.

Struck on the floor of Nymex at a hefty premium, about 50 cents, to prevailing prices, Arens who runs a brokerage called ABS, bought just 1,000 barrels of crude, the minimum allowed, from a colleague. The result was a divergence of the prices posted on Globex electronic screens at the exchange and through traders that work the floor – and widespread confusion.

Before the $100-a-barrel trade, oil prices on Globex were at $99.53 a barrel. Immediately after the trade, prices went down to about $99.40, suggesting a trading loss of $600 for Mr Arens.

Stephen Schork, a former Nymex floor trader and editor of the oil-market Schork Report, commented: “A local trader just spent about $600 in a trading loss to buy the right to tell his grandchildren he was the one who did it. Probably he is framing right now the print reflecting the trade...”

What a life!! I envy him.

Divine Intervention

I am Fucked!! It will be official in 3 weeks time when the results for corp fin, accounting and capital markets are declared at LBS. Sometimes being intelligent is a bit of problem.

Again it’s darn frustrating to be out of markets when there is so much volatility and so less liquidity. This is the best time to trade and make some bucks. And I can’t do it!!! Never felt so bad….

Look at crude oil. It hit 99$! God, if only I had a chance… Options are being written for prices above 150$! “Elliot’s wave” suggests prices to hit 100$+ shortly… Subprimes are giving lots of mispricing or relative value arb trading opportunities.. Markets are crazy.. This is the time to raise money and start a fund based on “absolute return distress cum even driven” strategies.. Am sure we can make shit load of money and retire…. J

I was reading this article by “Joseph Stiglitz” on subprimes. Mr Stiglitz is a professor of economics at Columbia and won the NOBEL for economics in 2001 for his pioneering and ground breaking work on “asymmetric information and market reaction”. He gives good insight on securitization and the information asymmetry that it creates and the reason for the current crash… It’s a good paper to read and there are lots of hedge fund trading strategies that we can derive which can earn good returns. Couldn’t understand how these people come out with such simple methods and apply them into capital markets. Brilliant!

But the bottom-line is I am royally waiting for my first sem results to be out!! Hope I will be able to slide my ass thruuu…. I really need some divine intervention this time...