We learnt a very valuable lesson yesterday. Sometimes, in the life of a market-maker, a sequence of events occurs such as this: client asks for a price, your electronic price engine quotes a rate but is a little latent (spot monkeys call this 'f+++ing historical'), the client deals, and the market moves rapidly against you, resulting in a large loss on your book before you have even had the chance to bat an eyelid. It's kind of the reverse of the golden log. Spot monkeys call this sequence of events, amongst other things, a 'drive-by shooting'.
We knew all this before yesterday. However, what we weren't aware of was that Schadenfreude Boy has a philosophical view on such events. Apparently, "Sh+t happens."
The reason we weren't aware of such philosophical perspicuity before, is that every time SB has been the victim of a drive-by shooting in the past, it has resulted in a vast array of Spielzeugs being evicted from the spot-desk pram, followed by a week-long sulk. Nevertheless, I hope that UDH Boy has taken such learned wisdom to heart and realised that the value of inflicted losses is purely in the eye of the beholder.
3 years ago
6 comments:
What SB forgets is that I have a horribly annoying memory. So next time he gets a nasty drive by snipe (which I know infers he might make a price instead of ebaying but run with it), I'll wait until the spielzeugen are mid air and the "das ist absolut kinderschiesse" is ringing in our ears, and watch as the lower lip begins to swell and protrude... Then I'll chirpily pipe up "schiesse geschieht, richtig?". If he then wants to discuss it further its not far to the cobbles....ringside seats available on ebay
Should make for some decent entertainment. Given the speed at which our electronic infrastructure appears to be grinding to a halt, opportunity should not be too far off :-)
Well it won't be tomorrow anyway - you're off, SB himself is off, Trywalker doing a half day "business trip", Pam still holidaying 'by himself'... If Invisible Girl actually turns up tomorrow she's doing three currencies. FVJ is gonna have a tough day...
I recommend an extended Friday afternoon lunch, leaving FVJ to his own devices ;-)
He just found a "massive juicy arb" in 6 month gold forwards. I said to put it in your book in case its inverted.
Sounds reasonable. All free money in my book. All problems directed to UBHBoy@msiib.com
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