Earlier quoted context omitted.
The part where a trip to the grocery store costs $100
Surge pricing because everyone wants to get the deal there
What's stopping you from taking a car or a bike ride to save $100?
Oil plunges below zero for first time with May contract ending
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Re: Oil plunges below zero for first time with May contract ending
#542Earlier quoted context omitted.
This reminds me of Brian Hunter [0] of Amaranth fame. He was on the wrong side of a huge (multi billion USD) long trade on Natural Gas. When faced with losing it all, he doubled down. Blew up Amaranth. $9B USD hedge fund blew up basically overnight. Margin calls, etc, etc. Disclaimer: I worked for the hedge fund at the time that bought Amaranth's holdings for pennies on the dollar. Was supposed to be a joint buyout w…
That man is one of a very small group according to this list: https://en.wikipedia.org/wiki/Category:Rogue_traders
Arguably he wasn't rogue, judging from John Arnold's account of the situation[0]. He just made way to big of a trade.
Think his account is somewhere between 10-20 minutes in this video 0. https://www.youtube.com/watch?time_continue=68&v=G6zFBzadTw0...
Re: Oil plunges below zero for first time with May contract ending
#543Re: Oil plunges below zero for first time with May contract ending
#544Earlier quoted context omitted.
Everyone is getting fired.
Not likely. This could actually be one person/team who was out of balance on their book. Back in 2008 when oil hit $150, it was due to a single trader. Needless to say, everyone in the industry was pissed at him afterwards.
Everyone in the economy is getting fired.
Re: Oil plunges below zero for first time with May contract ending
#545Earlier quoted context omitted.
Interesting math question: When we now start at a negative price tomorrow, what does a percentage change mean? Today, we have got losses >100%, unusual but obviously possible. But if price changes tomorrow from say $-10 to $10, is that again -200%? Does a change from $-10 to -$20 mean +100%? (I obviously know percentage changes are not made for this)
Hum... We can know this today with the power of Math! But seriously, changing to -$10 to -$20 is a +100% change. It's multiplication, this is how it works. From -$10 to $10 would be a -200% change. Obviously, only the mainstream news reports finance numbers as a percentage of change. Anybody else is only concerned about ROI.
If I take 10$ to take some asset, and then later sell it for 20$ my return is 30$ and my investment was -10$, so my ROI comes out as -300% which betrays what's going on. So even with ROI, negative numbers throws a wrench in the machinerys typical assumptions.
Re: Oil plunges below zero for first time with May contract ending
#546Earlier quoted context omitted.
How common are robotic surgeries today? Are there benefits to having a machine do the cutting?
It’s common enough not to be a gimmick, but the real advantage is allowing surgery to be done by a limited pool of specialists that can cover wide areas.
So potentially the next step is specialists covering whole regions where the latency of fiber is still acceptable. Then as the equipment and training for telesurgery becomes more available/costs come down, you might see it used for smaller benefits of sterilization and travel/cleaning time within a hospital, even for more common/less specialized surgeries, and even if it's just a surgeon located at the same building or facility.