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1
Posted on 4/22/14 at 3:27 am to LSURussian
quote:
I'm willing to let them make that money just because of the extra liquidity they provide to us individual investors.
They aren't providing extra liquidity. The premise of their ability to predict transactions and sneak in between to buy up shares just before you do is that they know exactly how many shares are going to be bought and are going to make the investor pay a higher price than they should have to pay.
They are acting as an unnecessary middle man to jack up the prices investors have to pay so they can make money on a transaction that they had nothing to do with and they add no liquidity to the market in so participating.
Posted on 4/22/14 at 4:19 am to molsusports
quote:Can we blame Clinton for this? He deregulated Wall Street, right?
"Wall Street has gone insane."
Posted on 4/22/14 at 5:22 am to JazzyJeff
quote:Whomever you choose to blame,
Can we blame Clinton for this? He deregulated Wall Street, right?
blame him for the fact someone is making 01¢/share on your back. Blame him also for the fact you can conduct trades @ $7.50/transaction now rather than the $200.00/transaction fees of the Carter era and beyond
Posted on 4/22/14 at 7:29 am to JazzyJeff
quote:Who the hell posts market orders. Like I don't even know why that's an option.
Yep. Brokers get a big cheezy grin when they see a market order. Limit orders only please.
Posted on 4/22/14 at 7:35 am to NC_Tigah
quote:He gets a thumbs up from me for this. A great thing for the middle class.
Blame him also for the fact you can conduct trades @ $7.50/transaction now rather than the $200.00/transaction fees of the Carter era and beyond
Posted on 4/22/14 at 7:40 am to NC_Tigah
quote:
blame him for the fact someone is making 01¢/share on your back. Blame him also for the fact you can conduct trades @ $7.50/transaction now rather than the $200.00/transaction fees of the Carter era and beyond
that's quite the reach....
Posted on 4/22/14 at 7:42 am to molsusports
quote:Yeah I don't buy that this type of trading serves as a market maker.
They aren't providing extra liquidity. The premise of their ability to predict transactions and sneak in between to buy up shares just before you do is that they know exactly how many shares are going to be bought and are going to make the investor pay a higher price than they should have to pay.
They are acting as an unnecessary middle man to jack up the prices investors have to pay so they can make money on a transaction that they had nothing to do with and they add no liquidity to the market in so participating.
Posted on 4/22/14 at 8:06 am to beaverfever
quote:
Who the hell posts market orders. Like I don't even know why that's an option.
People that want to bail quickly and assuredly on a stock.
Posted on 4/22/14 at 8:13 am to GumboPot
quote:
People that want to bail quickly and assuredly on a stock.
had a wise old man years ago tell me "you're losing dollars while chasing pennies"
Posted on 4/22/14 at 8:34 am to molsusports
quote:So much fail in this post.
They aren't providing extra liquidity. The premise of their ability to predict transactions and sneak in between to buy up shares just before you do is that they know exactly how many shares are going to be bought and are going to make the investor pay a higher price than they should have to pay.
They are acting as an unnecessary middle man to jack up the prices investors have to pay so they can make money on a transaction that they had nothing to do with and they add no liquidity to the market in so participating.
Posted on 4/22/14 at 11:42 am to ForeLSU
quote:
but here is a paper on the subject that Joseph Stiglitz presented at the Fed Bank
Joseph Stiglitz???
This is the same Joseph Stiglitz, who along with Peter and Jonathon Orzag, analyzed Fannie Mae right before 2008, and said, and I quote, "...on the basis of historical experience, the risk to the government of a potential default on GSE debt is effectively ZERO". In 2010, Stiglitz wrote a book called "I told you So" where he pretends to have predicted the collapse. I bet he would not have made such a bold statement if his economic papers lined up at all to his own financial exposures. He would be out of a job like he and so many other economists should be. BS Artists, 99% of them
Posted on 4/22/14 at 11:53 am to LSURussian
People arguing this stuff is good because of increasing liquidity completely misunderstand or mistake the purpose of the programs designed to predict trading and apply that information for high frequency trading.
They don't provide additional liquidity because that is the opposite of their purpose. The purpose of their models is to only jump in and buy (only to immediately sell again) when they KNOW there is already a buyer and a seller - because they are locking in profits immediately. The high frequency traders figured out how to obtain access to enough of a speed advantage that they know (for example) when a big order is being placed how to jump in and buy shares to immediately sell to that buyer.
This benefits them, but it does not benefit other investors, it hurts them. Other investors are directly lining their pockets because the high frequency traders have figured out how to essentially tax them with a fee for their inferior access to the same market.
They don't provide additional liquidity because that is the opposite of their purpose. The purpose of their models is to only jump in and buy (only to immediately sell again) when they KNOW there is already a buyer and a seller - because they are locking in profits immediately. The high frequency traders figured out how to obtain access to enough of a speed advantage that they know (for example) when a big order is being placed how to jump in and buy shares to immediately sell to that buyer.
This benefits them, but it does not benefit other investors, it hurts them. Other investors are directly lining their pockets because the high frequency traders have figured out how to essentially tax them with a fee for their inferior access to the same market.
Posted on 4/22/14 at 12:24 pm to molsusports
quote:
People arguing this stuff is good because of increasing liquidity completely misunderstand or mistake the purpose of the programs designed to predict trading and apply that information for high frequency trading.
Interesting read
Posted on 4/22/14 at 2:05 pm to BOSCEAUX
quote:
break down millions upon millions of transactions a day, those pennies add up and someone is making off like a bandit.
Just like Superman 3
i was thinking Office Space
Posted on 4/22/14 at 2:08 pm to TX Tiger
quote:
I'm saying that left vs right is a diversion to keep us fighting amongst ourselves while greedy bastards go insane and will do anything when that much money is involved.
oh....because it sounded like you were saying that 9/11 was an inside job to kill Cantor Fitzgerald employees because someone had a software patent
quote:
Was it just coincidence that Cantor Fitzgerald lost 658 employees on 9/11, including CEO Carlton Bartels, who held the patent on the unique software which would be used after his murder by a competing company to set up the Chicago Climate Exchange?
atleast thats how i read it. but you can't be that batshit crazy....can you?
This post was edited on 4/22/14 at 2:10 pm
Posted on 4/22/14 at 2:14 pm to Choctaw
quote:Don't bet against it.....
but you can't be that batshit crazy....can you?
Posted on 4/22/14 at 2:21 pm to Lsut81
quote:
Well that was the argument that was given back, but when you break down millions upon millions of transactions a day, those pennies add up and someone is making off like a bandit.
This post was edited on 4/22/14 at 2:22 pm
Posted on 4/22/14 at 2:25 pm to TX Tiger
quote:
Was it just coincidence that Cantor Fitzgerald lost 658 employees on 9/11, including CEO Carlton Bartels, who held the patent on the unique software which would be used after his murder by a competing company to set up the Chicago Climate Exchange?
Here we go!!!!
Posted on 4/22/14 at 5:38 pm to Choctaw
quote:Heaven's no. Nobody would be insane enough to commit murder over a measly trillion dollars.
Was it just coincidence that Cantor Fitzgerald lost 658 employees on 9/11, including CEO Carlton Bartels, who held the patent on the unique software which would be used after his murder by a competing company to set up the Chicago Climate Exchange?
atleast thats how i read it. but you can't be that batshit crazy....can you?
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