Posts in Trading

Voice Over Trading

I learned how to trade in the open outcry era.  We used our voices.  The people that were the most aggressive won.  Sometimes it meant having a big body.  In certain pits, traders were pretty beefy.  I remember slamming my …






The Blockchain, Cryptocurrency and Trust

Trust is one of the more fleeting things in human society.  It’s why lawyers exist.  Think about whom you really trust in the world.  Think about how many people that you do business with in your life that you would …






When Things Screw Up, Tear It Down

Startups at seed stage execute on a hypothesis.  They either think they see a problem they are solving and fill the gap, or they create a new market that didn’t exist before.  No matter what they do, they often struggle …






Stock Indexes and Success

Today the jobs number will be released. It’s probably going to be a good number. The number has nothing to do with Trump being elected. He’s only 7 weeks in. Ramping up hiring takes a lot longer than that. Since …






Trump Loses on Department of Labor Law

“With or without regulation by the federal government, the principle of ‘clients first’ is here to stay.” – Jack Bogle When I read the Department of Labor was wading into financial regulation, my first inclination was dread.  I didn’t trust …






Bitcoin Trading Volume Falls Off A Cliff

The exchange space in Bitcoin has been interesting.  I have been observing it with a keen interest.  Exchanges have been interesting to me my entire life.  I was on the board of the worlds largest exchange.  Everyone thinks exchanges are …






10,000 Bitcoins For a Pizza

The first transaction in bitcoin was 10,000 bitcoins for a pizza.  Hope it was Chicago style.  It reminds me of the assignment Craig Wortmann gives students.  He has them barter a pen for a few weeks to see what they …






The Amount of Venture Debt is Increasing

My whole life, I have watched macroeconomics.  It is the “dismal” science.  But, as a futures trader, you could make some money by paying attention to macroeconomics and trying to piece together what you thought would happen.  A lot of …






Before You Get Too Cheery About the “Trump Rally”

I subscribe to the Tastytrade newsletter and read it every morning.  I don’t always agree with them, but they always have some interesting ideas and things to think about.  Being an old trader, I always keep an eye on the …






When Your Net Worth Is Your Business

I was talking to a couple of people the other day about the similarities between being an entrepreneur and what we used to do on the trading floor.  When you were a trader, usually 100% of your capital was tied …






Central Banks Buying Public Stocks Is A Really Bad Idea

Janet Yellen runs the Federal Reserve.  She is a central banker.  She said that the Federal Reserve is looking at using money outside of normal monetary machinations.  They are looking at going into the stock market and buying public equity. …






Putting On An Event-The Business Blockchain

I don’t put on very many events.  One reason we think they are important is to further develop the Chicago Fin Tech network.  As we continue to raise our fund, we are going to start trying to do more events …






The Business Blockchain Event in Chicago

Blockchain has been talked about a lot in the startup community.  However, it’s not really understood well.  What’s the impact of blockchain going to be?  It’s really hard to tell. If you don’t know about blockchains, you should.  Here is …






Indexing Wins Again

A lot of folks are upset at all the money plowing into index funds on Wall Street. Most of the people that are upset earn fees from being an active trader, or managing money. But, the data shows that no …






When A Market Becomes A Casino

Was reading a short article on the plight of the cattle futures market. This has been happening over the course of the last seven years.  Seven years ago, the meat markets at the CME started to flip from open outcry …






Looking Ahead In FinTech

Financial innovation is happening, but most consumers won’t see the bulk of it.  It’s happening behind the scene.  A lot of the smoke and fire around financial innovation is in Blockchain.  The lion’s share of money is going toward it. …






Scaling Your Portfolio

My friend Fred Wilson has a post up about active vs passive investing.  It really got me thinking because I am seeing trends in the angel investing/early stage world that I don’t agree with.  Crowdfunding has really allowed people to …






The Futures Podcast

The other day, I did a podcast with Anthony Crudele. It was a lot of fun. Commiserating with someone that has similar experiences that you had is always fun. Here are various links to the podcast. Here is the direct …