Comments by "Samson Soturian" (@samsonsoturian6013) on "Barclays Loses $600M As Result of Extreme Incompetence" video.

  1. Speaking of ETNs, I once found one that had a "hodgepodge of assets." (Their word). I couldn't even find what assets they were tracking making me wonder who would buy something with such arbitrary performance.
    10
  2. Market cap is usually 20 times greater than revenue and revenue is 20 times greater than liquid cash. This isn't just an overhead cost for Barclay's.
    6
  3. Except said functions come down to some random employee. And with exchange products the competition to keep costs low means that only a handful of employees handle many different products.
    6
  4. We don't believe you.
    5
  5. Nah. The job ultimately goes to some undervalued employee and there's always more technical difficulties at work than the casual observer will see.
    3
  6. What if they want to use the money from investors for something else? They may own corelated assets with a net positive return, or they may sell both a long and short ETN on the same index (opposing bets cancel out, meaning the ETN privider gets a zero interest loan to buy bonds with).
    3
  7. These guys? Don't be sure. The sallaried associates don't make near that much. Investment bankers that make that much cash are on performance based compensation, in this case collecting a percentage of the ETN management fee. Also, if you lose company money you're fired.
    2
  8. A bunch of people definitely lost their jobs over this. Investment banks have Darwinistic HR policies.
    2
  9.  @Foxyfreedom  they post positions daily.
    2
  10.  @Tobacc0  You should talk
    2
  11. You mind lending me that crystal ball when you're done?
    2
  12. Don't blame them for your own bankruptcy.
    2
  13. You throw around the word incompetence as if you think ETNs are easy....
    1
  14. No one stole anything.
    1
  15. That's not how this works. You are short volatility, not short the Barclay ETN team.
    1
  16. The tax write off is waaaayyyy less than 600 million. The idea it isn't is as silly as the thought people earn money by giving to charity.
    1
  17. Depends how deluded you are.
    1
  18. People are constantly looking for ways to make an above average amount of money.
    1
  19.  @jahjoeka  there's hedging methods. It'slike selling insurance. . Securities and strategies that don't provide some sort of real world service tend to sort themselves out via Darwinism. Like playing zero sum games with short squeezes is causing bozos to slowly lose money to fees and volatility.
    1
  20. The Fed isn't bailing them out.
    1
  21.  @hydrohasspoken6227  I bet the lives of everyone on this thread. The Fed rarely bails people out, and when they do it's because over 10,000 people might lose their jobs if they don't.
    1
  22. But it isn't. These are hedging products. It's like selling insurance... although some of us buy insurance on someone else's house while it's on fire.
    1
  23.  @osl5686  baseless. I'm sure I could make a whole list of busts in 2 minutes of Googling and have arrest statics within 10.
    1
  24.  @osl5686  I'd wager you've gone to jail for unpaid child support.
    1
  25.  @uTz11  that was a guess. The fact you're hurling insults as a customer at a completely different branch of the company reflects poorly on you
    1
  26.  @uTz11  you're not helping your case, Karen
    1
  27. No... A ponzi scheme is "multi-layered marketing," and you mean to say scam. But it isn't that either as no one did this on purpose and no one is making off with the money.
    1
  28. That sounds fine until a volatility spike hits and you lose more than the original investment. Like picking up nickles from a railway track.
    1