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San Diego unions push transaction tax
And what does illiquidity create?— September 26, 2011 5:12 p.m.
San Diego unions push transaction tax
Yes and look at the difference. Post the bad 1921 depression there was government and Fed interference in the markets whenever they went south, despite the fact that the governments caused the problems in the first place. The booms that go around before and after wars are not true booms as evidenced by Bastiat's broken window fallacy. http://bastiat.org/en/twisatwins.html#broken_wind…— September 26, 2011 5:07 p.m.
San Diego unions push transaction tax
Nice they delete my comments and leave SP's invective.— September 26, 2011 5:02 p.m.
San Diego unions push transaction tax
Sovereign funds, large banks, insurance companies, currency houses, oil companies, exporters, hedge funds, other big specs and combinations of the above. The currency markets are huge compared to markets like equities and it's not hard for a currency trader with a hundred million in his account to do currency trades worth over a billion. Plus, the cash and forward currency markets are so liquid, you can get down a 100 million trade and not move the market more than one or two pips.— September 26, 2011 5:01 p.m.
San Diego unions push transaction tax
Dave, I know the difference between HFT and Flash and suspect that you were addressing this to the other guys. Despite the fact that flash has the ability to front the other investors, when it goes through the best price routing it might get picked up at an exchange and an extra fee added because of the make or take concept and in this case they might be taking liquidity away and have to pay a fee. Not all things are as good of a deal or a slam dunk as the pundits would like you to believe.— September 26, 2011 2:34 p.m.
San Diego unions push transaction tax
Surfpuppy, My answer can only be expressed in this video. http://www.youtube.com/watch?v=pofupYwEF2Q Have a nice day and work on that anger. You might be a big time ambulance chaser and I accept that and wouldn't attempt to question your knowledge of the law.— September 26, 2011 2:10 p.m.
San Diego unions push transaction tax
Surfpuppy, you've lost and don't even know it. Have a nice day chasing ambulances or whatever you do.— September 26, 2011 2:01 p.m.
San Diego unions push transaction tax
Puppy...you are so unoriginal and don't have a clue what a professional exchange member who trades their own account can make. You might be impressed by hedge fund managers returns but we're not. Not only do I beat all those indices, I made money every year. I have to as if I don't make money I don't eat. I don't have the bullshit skills of a lying scumbag lawyer, and I need real talent unlike you. As I said before, you could use about 50 IQ points.— September 26, 2011 1:59 p.m.
San Diego unions push transaction tax
Fred, what your real argument is about is price that you've couched in systemic risk. You'd rather appear to be socially conscious instead of what you really are, cheap. You think think transactions are too expensive and you want a better deal. However, 20 years ago stocks were quoted in 1/8ths and 1/4. Now they're decimal. It used to be that the cost of the transaction would be that a customer would have to pay an eight or a quarter on the bid asked which would equate to $6.25-$12.50 on a 100 share transaction plus commission and exchange fees. Now since the specialists are largely irrelevant, and we're quoting on decimals, the bid asked in most stocks that HFT trade is a penny and the average takeout of an HFT trade is 6 mills, or 6 cents per 100 share transaction. Since one can get $0.75 commissions on 1000-10,000 shares plus the bid/ask and fees and that 6 mil vig, it's much cheaper to get down a trade and pay a buck than 30 years ago when Merrill Lynch would charge you $85 to get down a 100 share trade. And I will agree with you that the system is rigged. If it's rigged, and you know it's rigged, then why do you want to play in a rigged game? What you should really be railing about is market slippage, not HFT, as slippage is the real systemic problem.— September 26, 2011 11:48 a.m.
San Diego unions push transaction tax
Fred, since you resort to invective, I suspect that life has passed you by and you're just a bitter also ran. As far as morality, I have never welshed on anything in my life. Have you? What about Taleb's black swan? Have you ever read his paper that was the genesis of the book? Have you ever sat down with him on Friday afternoon at the Odeon and talked markets, or been to his office? There's much more to glean than you got from reading his book. And yes, we're gamblers, just like Caesar's Palace gambles. Pompous...probably...when a guy like you is looking up at us, we would seem to be pompous, but I prefer the term cocksure myself. Code writers, hourly guys like you that need someone else to sign their checks just never get what it's like to be an individualist.— September 26, 2011 11:32 a.m.