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daily 06/13/2013

    • High frequency traders use powerful computers and powerful algorithms to buy and sell millions upon millions of shares of stocks and other securities, millisecond by millisecond. They make money on the tiny up-and-down fluctuations in securities prices throughout the day. They do not analyze the “fundamentals” of companies, or make long-term bets based on macroeconomic theories. The entire industry is one of proprietary computer programs trying to jump into the tiny gaps in stock prices that appear and disappear faster than you can cough.


    • The world of finance, as much as we deride it, has a proper role to play in society: to direct capital to where it can be most useful, which benefits both borrowers and lenders.
    • And, like the electric company, Wall Street should be paid a sane and reasonable salary for this service
    • While he “joins the judgment of the court,” Scalia wrote, he won’t sign on to “Part I–A and some portions of the rest of the opinion going into fine details of molecular biology.” Why? Because he can’t “affirm those details on [his] own knowledge or even [his] own belief.”

Posted from Diigo. The rest of my favorite links are here.

Categories: Uncategorized
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