Magazine article Modern Trader

Sound Off!

Magazine article Modern Trader

Sound Off!

Article excerpt

In honor of Mark M wire's and Sammy Sosa's major league home run records, we're doing our own clean up on some letters to the editor.

Bears are out I just caught your [Editor's note] in the September [1998] issue ["Is is a Bull? Is is a Bear?"]. You might be interested to learn that financial manias have occurred in the past and some of these have come to an end when interest rates were at a historic low point. Ironically enough, some of these have also coincided with presidential peccadillos.

As an aside (I'm not sure how much predictive power - or money - you would want to put behind this), whenever an original [American Football Conference] team wins the Super Bowl, a bear market ensues.

John J. Blasic

via e-mail

Broker background check Saw the [Editor's note] in the April 1998 issue ["One born every...you know"]. How does one check out the standing of a particular trader/broker, and also the standing of the firm he/she may be working for?

Jonathan Richards

via e-mail

Editor's replI: Your first step is to contact the National Futures Association (312-781-1300) and the Commodity Futures Trading Commission (202-418-5498) to see if any regulatory actions have been taken against the broker or firm and to what degree. Also, check with other traders to get recommendations. Further, don't hesitate to ask a broker about capital, legal actions against them and for recommendations from other customers. If they want your business, they'll work with you. The same goes for trading advisors. Background statistics I enjoyed ["Rank and validation," June 1998, and "Model undone," July 1998], concerning statistical techniques. You recommended a book by Sam Kash Kachigan. Do I have the author's name correct? And can you recommend a good introductory text on "the analysis of time series?"

Also, there is quite a bit of "new stufF coming out regarding the analysis of financial time series using high frequency data. …

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