http://en.wikipedia.org/wiki/Snake_oil http://www.elitetrader.com/vb/showthread.php?s=&postid=3740875#post3740875
I already replied to someone else but apparently there is some sort of delay. Many things were discussed in that hour conversation. In fact it was the second such conversation with Tom. Most of it is not relevent here except the decision was made to trade bonds. Originally bonds were not the topic of conversation at all. What you fail to discern is that this just started days ago. A last minute, spur of the moment decision was made, to take advantage of the east coast time zone and so far my son reported it was working well. That's it. My primary reason to post at all was that I registered to respond to another thread and just happened to see Tom Baldwin disparaged (unrightly so from my recent experience with him) and said so. I still feel that way and nothing will change my mind. There won't be any further posts because I already said my piece. For 40 years I have traded intuitively without sharing in detail even what I do with many people except for very close friends and family (most of them have their eyes glazed over after 5 minutes anyway). I've never traded for anyone nor do I want the responsibility-so if that's what you are inferring, you are dead wrong. I was just giving you some background. End of story. What you might want to take from all this is, from my perspective, the 30 year bond is apparently an excellent vehicle to trade. Who knew? No wonder Baldwin made so much money for so long and according to him, still is.
None of the Wizards reveal details of how they actually money. Thats the biggest secret revealed of how to make money.