Wall Street On Trial
Simplistic but it passes the time whilst having toast and vegemite.
Superstition
Following on from my earlier posting regarding economics not being a science and being more akin to superstition I thought I would have a little look at the nature of superstition and I came across the following by Betrand Russell. Uncertainty in the presence of vivid hopes and fears, is painful but must be endured…
DetailsRolling Stone
I have been a Rolling Stone reader for decades – what originally started as a somewhat shambolic counter culture music mag has morphed into probably one of the most effective financial journals around. Witness this skewering of Hank Paulson
DetailsHFT Review
I have to admit I am not certain where I sit on the notion of algorithmic trading or HFT. It is often portrayed as a form of electronic front running – merely a high tech way for broking firms to steal from clients. I have to admit I have some sympathy with this view. However,…
DetailsEconomics…A Science? Surely Not
Give me a one-handed economist! All my economists say, On the one hand on the other. Harry S Truman I have long thought that if they give out Nobel Prizes for economics they should probably start to look at handing them out for homeopathy as well. The issue I have with economics/economists is the lack…
DetailsInteresting
This struck me as intriguing I am going to have to go away and think about this some more. From Bloomberg “What does today’s stock rally equal in past markets? About half as much. The Dow Jones Industrial Average (INDU) reached 12,045.68, up 490.05 points from yesterday’s close. Adjusting for the market’s volatility in 2011,…
DetailsThe Other Paulson and Insider Trading
If you don’t already understand why people are pissed at Wall Street this piece might help you out a little. It details a somewhat cosy chat between Hank Paulson (US Treasury Secretary) and a group of hedge fund managers/brokers where Paulson discloses non public details regarding Fannie Mae and Freddie Mac.
So This Is Christmas
Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool,…
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