Posts from June 2012

Should Start Up Companies Get Political?

Most of the start ups that I know have a Democratic bent to them. The founders are pretty liberal. Start ups are like that. They are live and let live people. Leave me alone, let me do my thing and …






Breakfast Links

Hope you have a great weekend. I am driving up to Grand Marais, MN. You will find me here. Whoa! If you haven’t read this you should. Why hasn’t Holder resigned yet? An aside, why is it when Democrats don’t …






Insurance Exchanges For Health Care

In the aftermath of the Obamacare ruling, the proponents of Obamacare are touting “Insurance Exchanges” as one of the cost drivers to save people money. As a person who was on the board of an exchange, and has traded markets …






Manipulation of LIBOR

If you haven’t been following the story on the banking industries manipulation of LIBOR rates, I don’t blame you. However, you should. Manipulation of LIBOR is a big deal. Why? First, The entire adjustable mortgage market is based on the …






Friday Breakfast Links

If you are a hog trader, report out after the close today. Hogs and Pigs. In case you didn’t hear, the Supreme Court ruled on Obamacare yesterday. Liberals declared a victory and many conservatives were chagrined. As a free market …






What You Need To Know About the EU Summit

The EU will meet in Brussels this weekend. All eyes will be on Germany. It’s kind of like a bunch of recalcitrant kids that have blown through all their money at college. Now they want Mommy and Daddy to keep …






Breakfast Links

In defense of Muni bonds. My only peeve about munis is that they are traded in a non transparent way. How long is a generation on Wall Street. Black lawmakers are going to walk out on the Holder contempt vote …






Is High Frequency Trading Good? Or Bad?

A lot of people think that I hate computerized trading. That’s not actually true. I was one of the first people on the floors of the Chicago exchanges to understand what it meant, and why we needed to embrace it. …






Breakfast Links

Nora Ephron has passed away. It is amazing how many Democrats are not going to their own party’s convention this summer in Charlotte. Obama is so toxic to them they don’t want to be associated with him. Compare this to …






Watch Out For More Deflation

One of the consequences of all the stimulus and subsequent QE is that long time traders of our markets know they are screwed up. Consistent printing of money and 0% interest rates world wide have created their own economic imbalances. …






Breakfast Links

The price of poker just went up in Spain. Tell me why Italy, Greek, Portuguese and Irish banks aren’t rated the same. Toss in France while you are at it. Cyprus seeks a bail out. Me too. The ice caps? …






How HFT ruins markets

Funny, everytime I put a big order in on the screen, an order immediately jumps in front of me. Everytime. It’s a computer program. Some algo. When I cancel the order, the front runner goes away. When markets spin out …






The EU Cannot Hold Together

The election of France’s socialist government will doom the EU. Why should Germany foot the bill for the largesse of the communists and socialists in Europe? Spain today asked to recapitalize it’s banks. Does anyone think that Greece isn’t going …






Monday Breakfast Links

It’s still Techweek in Chicago. HFT traders under investigation for wash trades. Wouldn’t surprise me as they hunt for stops. Hottest 20 women in conservative media. The last 2000 years of economic history. The Angels of Parmesan. John Cochrane is …






Government Solutions Never Work

Dodd-Frank was a waste of time. Now there is a lawsuit pending that might even make it unconstitutional. I hope it is ruled unconstitutional, because while the sentiment for Dodd-Frank may have been correct, the way it was written and …






Breakfast Links

The Senate passed the pork laden Farm Bill, the House has tabled it, for now. So it can vote on the pork laden Transportation Bill. How is this for a fishing outing? He caught a 300 pound gar. Increase in …






Look Forward With Finance, Not Backward

A lot of kids have graduated from college in the past months. Now that the graduation speeches have been given, the real world beckons. Many have graduated with a lot of student debt. All graduated into a very uncertain economic …