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iPath S&P 500 VIX ST Futures ETN Message Board

  • con_law_misery con_law_misery Mar 4, 2013 4:09 PM Flag

    do.john. How you living?

    You making some hay in your trading account or is the continued rally a problem? I am barely up 4% vs. S&P of 7%. If I had shorted 1/3 VXX like Wes said I would be up 10% minimum on the year. Not good.

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    • I am treading water. Of course I took a hit today with overall short market position. But, with all of the bull put spreads that I loaded up with during recent dips in the market, my losses have been a lot less than they would have been. When I add the gains that my retirement accounts have made, still well in the black.
      I did have to make some adjustments in a few of my iron condors today, and that unfortunately cost me a litte doe.
      I am in this for the long run, and a bad day for me is probably no more than the magnitude of any one trade that some of you guys make who are out there making the 7 figure trades.
      I am still down for this year, and that is painful, but I believe I have a reasonable strategy, and will stay with my bear trade with bull put spreads as hedges.

    • conlaw, quick off topic question . . . my daughter has a choice of a full scholarship at South Carolina Law School or paying full freight (in state tuition though) at Florida . . . which would you choose?

      • 1 Reply to slcehamrick
      • Hello Rick!

        All else equal I would choose Florida. It looks to me like in state tuition there would be roughly 60K over 3 years and I think it's worth paying that for the school's reputation. Particularly if she's interested in working in Florida and for a private firm which I assume is a good possibility. I've heard Florida places their grads extremely well in-state.

        Of course that's all else equal. For instance, does she have a lot of other debt? What kind of law is she planning to practice? If she's interested in not-for-profit or government work right out of school I would be inclined to take the SC scholarship. As you know those jobs are hard to get but I think it'd be just as hard from either school and if you're at SC and not taking on debt you're more free to pursue internships that might not be paid but are likely to lead to a position with government or NFP after graduation.

        For law firm purposes, for sure UF. Her chances would also be much better to get a cushy summer associate gig from UF and that would reduce the debt a lot. She's obviously smart if she has a full ride tuition offer, so I'm sure she'd pull good grades either place, but there's a certain random element to grading and if you want a firm job it's nice to be at a school where they dip farther into the class just to have some cushion.

        It's not an easy decision though- there's a strong likelihood she would kick butt at SC, finish near the top of the class and have the firms lining up anyway, and not have the debt. But this is such a big investment, and although of course 60K is a lot of money once it's rolled into monthly payments at low rates I think the gains outweigh the costs.

        Oh yeah forgot to mention. If for some reason she's pretty sure about leaving the south after school I would lean toward SC because for most schools the benefit of the school's reputation seems to mostly be a regional thing.

        Best of luck and congratulations to her!

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