Posts tagged Jon Corzine

What’s It Take To Make A Market?

The other day I blogged about physical versus cash delivery.  It piqued the interest of some people and we delved into a conversation about what makes a market. There are lots of two sided markets that turn into massive businesses. …






Better Late Than Never

Finally, the artificial walls came tumbling down around Jon Corzine.  Finally.  In case you need reminding, Corzine took $1.6 billion US dollars from his own clients to cover trading losses he incurred.  On October 31, 2011 the story broke. Not …






Has CME Finally Broken the Curse?

If you have owned $CME stock since 2007-08, you have felt some pain.  Performance has been woeful.  Macroeconomic effects didn’t help-and government regulation didn’t help-and neither did Jon Corzine.  Few stocks have had as many headwinds. But, lately the stock …






Gary Gensler of the CFTC: Thinks He Should Be King

Regulators should be like the best referees at a sporting event.  They are there to make sure that things are played by the rules, but they shouldn’t be noticed them during the game.  They should also make sure that they …






Follow The Hot Money

One of the ways to make money in the market is momentum trade.  Plenty of people try it.  Richard Driehaus built an empire momentum trading. It’s not easy. In this age of computerized trading, even tougher to execute. However, there …






Interesting and Thoughtful Response On Oversight and Regulation

Recently, Crain’s Chicago ran a series of stories on the futures industry.  I was quoted in one of the stories suggesting the Federal government has fallen down on the job when it comes to regulating what’s important in the industry. …






The Market is Rigged

The Fed released minutes of their meeting early “because the U.S. central bank accidentally sent the report to congressional aides and trade organizations.”.  Remember, it’s okay for Congress to inside trade so this is a big deal. I am sure …






The Liquidity Problem With HFT In Equity Markets

There has been a little more study on high frequency (HFT)  trading in the marketplace.  Nanex continually tweets out data.  Joe Saluzzi and Sal Arnuk have consistently beat the drum on how HFT was hurting markets. However, so much money …






The Price of Your Food and Fuel is Going Up

It’s not inflation that will drive the price higher, nor the bungling policies of the Federal Reserve.  It’s regulatory inflation.  Or, an artificial constraint being put on the market that will increase the cost of your food and fuel. The …






Above The Law

In America, we have a two party system.  But, we also have a caste system. Either you are in the know and in power courtesy of crony capitalism, or you are a chumbalone. MF Global’s Jon Corzine is in the …






HFT: Speed Isn’t the Problem

There is going to be a hearing on HFT in the Senate.  Senator Jack Reed of Rhode Island (D) will preside.  I have met Jack a number of times and my gut tells me he will run a pretty evenly …






Regulate Guns…..or Not?

One of the fastest reactions to any mass shooting that captivates the national press is to round up all the guns and take them out of the hands of individuals.  The pro-gun ownership lobby immediately points to the Third Reich, …






Opalesque-Strips It Down And Tells It Like It Is

Howard Cosell used to say, “telling it like it is”.  In today’s world, most of the time when you tell the unvarnished truth, you get penalized for it.  In this “totally transparent” hyper social mocial world, people have become less …






Breakfast Links

How to pitch to an angel investor at SEEDCON Advice to college students regarding start ups. Has anything changed? What hasn’t changed. The anti-social era. Munis might still be a buy. Advocates of big government might want to look to …






MF Global, One Year Later. No One Charged

It’s been a year since MF Global’s debacle was revealed to the broader marketplace.  The hubris of Jon Corzine is amazing.  The fact that he has stayed out of jail is a testament the amount of political cover he has …






Corzine Will Not Be Prosecuted

There are a few ways that one can look at the headline today in the NY Times. First, you could say this is great for the futures industry. There was simply a misunderstanding of where money went and there was …






Jon Corzine is MF Guilty

Corzine is guilty of fraud. Bloomberg just broke the story. Jon S. Corzine, MF Global Holding Ltd. (MFGLQ)’s chief executive officer, gave “direct instructions” to transfer $200 million from a customer fund account to meet an overdraft in one of …






Jon Corzine Will Face A Day In Court

38,000 ranchers in Montana are ticked off. Jon Corzine is the new Voldemort of Wall Street. He is running up and down Diagon Alley staying in the shadows until he gets strength to return again. Good thing for him, NYC …