a unique perspective on this crazy world


this is just a boondoggle… for a change it will be short!  Jon Stewart is interviewing Michael Lewis and talking about predatory behaviour in the stock market… as Jon just said, “it’s not fair, American or capitalism”.  High frequency traders are now the new everyday evil people…

I trade for fun in my spare time and know all the lingo so this is fascinating for me… and I see all the silly games the alpha males play as they pound their chests and pay cash for their Maseratis…  I’m the kind of girl who told some hedge fund guy I met in a bar in the Meatpacking District during the height of the financial crisis, “oh, you work for a hedge fund… so you aren’t just a little bit evil… you are REALLY evil”… but he was from Kentucky and at heart not evil…

but also not as good at holding his bourbon so I ended up dropping him off at his apartment on the Upper West Side and then convincing the immigrant taxi driver that I just needed him to drop me back at the Standard, his company not part of the deal…

So, I am a bit of an alpha female 🙂  I can beat the high frequency traders, Wall Street and the random idiots in Silicon Valley… I don’t need Michael Lewis to save my ass.  But it’s interesting… and apparently some Dudley Do-Right Canadian dude at RBC started the ball rolling…

so I am intrigued… I’ve spent all of prime time watching American actors kill people with guns… it’s exciting… but remember that most of the greatest heroes didn’t have a glock… they had a brain…  what kind of hero do you want to be? 😉

http://business.financialpost.com/2014/03/31/flash-boys-former-rbc-trader-hero-of-michael-lewiss-new-book-on-how-u-s-stock-markets-are-rigged/

 

Comments on: "the hero is canadian…. ;)" (2)

  1. Hey m, I just finished reading Flash Boys on my iPad. It is theft on a grand scale, and, interestingly the real victims are not you and I, who trade for ourselves. Who cares if you pay 30.01 instead of $30 for a stock when you buy and 34.99 instead of 35 when you sell? You still made good money. But multiply those 2 cents times billions of shares and some ppl are getting really rich by cheating. So in Lewis’ book, the ppl who are getting excited by this, instigated by that fine Canadian hero, Brad Katsuyama, are the BIG pension funds and hedge funds. The ones who trade big volumes are getting ripped off big time, and they don’t like it.

    But the bigger issue, I think, is that the exchanges themselves, and the regulators, are bending over backward to accommodate the HFT guys, and the system is getting ever more complicated. Complicated based on endless patches and tweaks to software programmed by ppl. And therein lies the rub. Nobody really knows how it all works, and there are increasing numbers of “anomalies” happening. The Flash Crash of 2010 was just the most visible. Similar things are happening more and more frequently, and it is just a matter of time before something really nasty happens.

    Read the book, it is a quick, easy read, and an eye-opener that has created quite a disturbance, given the billions at stake.

  2. as usual, you have said it all very astutely. it’s why I stay in the market… I can still do okay, especially with my anti-alpha-male strategy… but the whole financial system is rigged… hey the US tax code is rigged… the aristocracy has never disappeared… the names change but the system in many countries still favor the rich in a way that is dangerous for the health of the planet on every level…. but I don’t know how we fix it… but why I love Jon Stewart – and out boy Brad… at least there are some voices out there trying to get people to care and understand.

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