Posts from July 2011

Around the Corner From My Apartment

Around the corner from my apartment is the original Playboy mansion. It cracks me up every time I walk by. As a kid, how many of you didn’t have a stash of Playboys laying around somewhere. I walk past it …






Life in the Pits

People often ask me what it was like to be in a trading pit ($CME, $CBOE, $NYX). It was physical, exhilarating and fun. Frustrating and depressing sometimes too. The breadth of human emotion. This short vid sums up what it …






Is Social Media a Bubble?

There are a lot of articles and opinions out there that social media is in a bubble. LinkedIN ($LNKD) goes public at a high valuation. Other stocks that have filed paperwork to do an IPO have big numbers attached to …






Debt Hysteria

Brian Wesbury is one of the best economists writing and working in the markets today. When everyone was super bearish in March of 2009, he was encouraging everyone to buy. If you aren’t reading him you should. Here is his …






Humpty Dumpty Breakfast Links

Don’t forget about Europe. Too little to fail? Remember what happened to all the kings horses and men. Same fate could come to the US if we are not careful. Hangzhou China, ever been there? The US House goes back …






Frustration

Since we are now actively paying attention to the debt ceiling debate according to our President, I thought I might give a little perspective as to why the two sides don’t seem to be able to reach a bargain. The …






How Would You Cut the Deficit?

Tip of the hat to Insty. He has a “cut the deficit” game. Who knows, with all the crowd sourcing that is going on maybe the general public can figure it out better than the politicians. After all, I was …






Uptick Rule

One of the things that drives me crazy is the improper regulation that governments impose on marketplaces to fix things. A classic example of the unintended consequences of regulation is Sarbanes-Oxley. It tripled accounting costs for firms, and has changed …






Breakfast Links

Transparency is a key component of a well greased marketplace. It’s why I am against dark pools, internalization and other systems designed to push trading into back rooms. Dodd-Frank will make things less transparent, not more. This is a great …






The Speaker’s Speech

Boehner gave an history of the negotiations. He talked about the policies that the House passed-that have zero chance of becoming law. He also outlined a vision for government. “The bigger the government, the smaller the people.” Boehner said he …






The President’s Speech

President Obama laid out his claim. It was total class warfare. He wrapped his comments in “fairness”. He also spoke down to the American people. Hint to the Prez, they have heard of the debt ceiling. It’s funny to me …






Hot Money Flowing In and Out of Markets

With the debt ceiling debate roiling, low volume hot money flows out of certain asset classes and into others. Beware of how it turns when it the debate ends. It might flow a lot differently than you expect.






Demand Curves Slope Down And Why This Is Important To You

It’s a physical part of the economic equation. Demand curves always slope down. If you are into math, it means a demand curve will always have negative slope. What does this mean in the real world? As price goes down, …






Debt Ceiling Politics

Even though the most transparent government ever, as promised by Obama in 2008, has been negotiating the debt ceiling behind closed doors, drips and dribbles come out that show you the ceiling itself isn’t too important. It’s the politics behind …






Monday Morning Debt and Destruction Breakfast Links

Head twit Howard Lindzon is correct in this post. ($ST) Spark Chicago finalists here. Good luck to them. A blogger covered my Financial Innovation Panel at Tech Week. Not that data is going to matter much this week, here are …