And still no one is in prison…. If you were writing a paranoidfantasyof gold price manipulation you’d be hard pressed to come up with something more on the nose than the U.K. Financial Conduct Authority’s order against Barclays. It has everything; it is the benchmark of manipulation by which all future manipulation will be measured. Well, this…
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I have been pondering the return to the bad old days of financial planning as advocated by the big banks and in my discussions with people they find it hard to grasp the impact of fees upon investment returns. I think this is due to a basic innumeracy among people and I believe this is…
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I am fan of and subscriber to the Lefsetz Letter – a music industry commentary by Bob Lefstez who has been around longer than I have . Interestingly, a lot of his commentary is about issues that are wider than music alone. This is to be expected because music is both a social and technological…
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I have held the opinion that Matt Taibbi formerly of Rolling Stone is currently the best financial journalist going around. Here he is on the Daily Show talking about his new book The Divide. Click the image below to be taken to the show.
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The transcript of the entire interview can be found on the 60 Minutes site. However, I had trouble getting their embedded videos to play in Chrome.
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I came across these two videos by Austin Gerig of the Said Business School at Oxford. One of his specialities is the impact of HFT upon markets and the videos below represent the price movements of 40 large-cap US stocks in 1-minute interval without HFT and with HFT. You notice that with HFT there is…
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Who gives a shit is the only response I could think of to the implied question. If you are naive enough to believe that working in the finance industry is the same as doing charitable work in Africa then you are profoundly deluded.
Once again Michael Pascoe gets it right. I worked in broking for years and two things amazed me. Firstly, how little brokers know about markets. They have a lot of platitudes in their sales arsenal but very few have a deep understanding of how the market actually works. Secondly, it is the most self interested…
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