Macro Man has P/L problems.....bad P/L problems. So bad, in fact, that he cannot bear to post the P/L sheet again this morning. What's that? Has his portfolio experienced an abrupt reversal of fortune, Peloton-style, that has seen him grasp defeat from the jaws of victory?
No, nothing so sinister. Unfortunately, however, Macro Man has temporarily been denied access to Bloomberg, which provides the pricing data used to calculate the P/L. And so Macro Man's big P/L problem is that he doesn't have the real time pricing required to calculate the profits and losses of his various positions- quite a big problem indeed!
How/why has this come about? For the very best of reasons, actually. An astute reader observed on Monday that Macro Man appeared to have lost his "zen", or perhaps mojo, in market timing his trades. Your humble scribe was not particularly surprised to hear this. For the last six weeks he has been living a life of relative leisure, going skiing, playing golf, picking the kids up from school, etc. You see, Macro Man left his old employer in January and will begin his new gig in a few weeks time.
Yesterday, his old Bloomberg account was finally terminated....hence the loss of access which prevents publication of the P/L. He should shortly be fixed up with a trial access, which will once again enable him to calculate his blog performance. (This, incidentally, is why he said to reader AT that he was "reasonably satisfied" with his blog portfolio performance: three and a bit percent suggests that Macro Man hasn't completely lost touch with the market while he's been funning it up!)
In any event, if you've observed a change in the tone, style, or content in this space over the last month or so, you now have your explanation for it. Once Bloomberg is back up and running chez MM, the P/L will reappear to provide Macro Man with an instant reminder if he's lost the plot with what's going on.
Moving forwards, the content in this space will probably alter slightly. The portfolio will probably be de-emphasized, at least temporarily; after all, Macro Man will have a real-world portfolio to get up and running and manage. Indeed, Macro Man will likely use the blog portfolio more exclusively as a laboratory in which to test out new ideas or products before implementing them in real life.
He certainly hopes, however, that this space can remain an exchange of ideas between market participants; as far as Macro Man knows, this is one of the few places where practitioners can anonymously chew the fat on global macro issues and trading for free. He certainly hopes that this continues and indeed expands moving forwards, as he finds that discussion and interaction amongst market particpants to be the most rewarding aspect of this entire endeavour.
In any case, that's all for today. Macro Man has to go shopping for Macro Boy's birthday present, hit the gym, whack a few golf balls, and maybe test drive a car. It's a touch life, but somebody's gotta do it!
- ► 2014 (130)
- ► 2013 (85)
- ► 2012 (119)
- ► 2011 (182)
- ► 2010 (213)
- ► 2009 (248)
- At last...
- How best to sell the UK?
- More questions than answers
- Let the good times roll!
- Of rocks and hard places
- You can never go home....
- Timmy Geithner, SIV Manager!?!?!?!?!?
- All That Craters Is Not Gold
- Where will George W. Bush rank?
- What Larks!
- Let's think this through....
- Financial market limbo
- The Devil Went Down to Wall Street
- A BSC Market
- Would you believe it?
- Will the last one to leave please turn out the lig...
- A secret Fed memo recovered by Macro Man's sources...
- Just another boring day....
- So What'd I Miss?
- Alternative uses for the dollar
- What have we learned so far?
- Bad P/L probems....of the very best kind
- Which comes first?
- 2008: The year of....?
- ▼ March (24)
- ► 2007 (336)