**Re: $25 Million A Day**
They're doing God's work, and I'm sure He is happy with their achievements.
But seriously, not ONE losing day? It's beyond the realms of probability. Let's say you have a 95 pct chance of making money on a given day, then the chance of NO losing days over 62 days is 0.95^62 = 0.04, thus 4% chance of no losing days in a quarter if you have the (simply astonishing) probability of 95 pct for making money. Ok, my arithmetic here is a bit crude, but you get the idea.
In fact, it's not until you get to 99 pct chance of making money that the odds for a no-lose quarter rise to 50 pct.
Ok, so they're market makers so it's more a case of capturing bid/ask rather than taking proprietary risk per se. But nonetheless, it's a mindblowing statistic. |