The New Model?
Submitted by Tyler Durden on 07/24/2009 - 20:15It seems 1-2's and Marla's post earlier could not have come at a more opportune time. In a presentation by Andrew Gluck of Advisor Products, the author touches on some starkly comparable points (and, usefully, those with acute ADHD may find this presentation a tad more palatable, hehe, just kidding Marla) in the context of the epic paradigm shift occurring in the media world. Zero Hedge explicitly agrees that while the course of new media is still very much uncharted, the inherent conflicts of interest at the nexus of mainstream media and its providers of funding (not to mention bloated leverage and CDS levels in the 20pts upfront even in these artificially tight times), will make the survival of legacy media products increasingly more impossible.
Critical Response Against High Frequency Trading Starts Generating Momentum
Submitted by Tyler Durden on 07/24/2009 - 18:58Zero Hedge recently had some choice words against a subset of HFT, namely Flash Trading, and as even Irene Aldridge confirmed earlier, there is something very wrong with that subset of program trading. It seems our admonitions have fallen on the right ears. In a startling development of anti-establishmentarian activism, Senator Charles Schumer has asked the SEC to ban Flash Trading in its entirety, as it "gives high-speed traders an unfair advantage over other investors."
Unjustified Optimism In Theory And Practice
Submitted by Tyler Durden on 07/24/2009 - 17:16
This one falls into the category of one picture is worth a thousand optimistic promises. Compliments of Out Of The Frying Pan.
Market Rips, Short Interest Plunges
Submitted by Tyler Durden on 07/24/2009 - 15:10
This is so much more than just a short covering rally. Oh wait, it's not.
Saluzzi Educates MSM On PT, Does Not Buy Books
Submitted by Tyler Durden on 07/24/2009 - 13:33Irene, I would love to get a copy of your book. Are you willing to exchange one Digital Dickweed coffee mug for a few hundred copies? I am sure you have them lying around, and it sounds about equitable.
Also, good thing of Irene to admit that any variant of forntrunning is illegal. We are with you!
Get Your Aspen St. Regis Right Here, Get Monarch Beach Half Off
Submitted by Tyler Durden on 07/24/2009 - 13:27Cause you know selling luxury hotels ahead of a 90% ramp up in the S&P makes all the sense in the world.
Goldman Sachs Principal Transactions Update: 798 Million Shares And An Overall PT Market Update
Submitted by Tyler Durden on 07/24/2009 - 12:56
There has been (finally) a lot of attention to program trading, a theme Zero Hedge has been focusing on for 4 months. This week, the NYSE finally switched over to its new methodology of providing program trading, which, as Zero Hedge announced previously, involves the decommissioning of the DPTR and the delay/cancellation of implementation of "the proposed redefined program trading account type indicators (J and K)."
Ratigan, Spitzer And Toure Clarify The Fed's Obsession With Secrecy
Submitted by Tyler Durden on 07/24/2009 - 10:54MSNBC's explanatory take on how the Federal Reserve "bailed" the system out and why the Fed is so keen on perpetuating its secrecy.
Eliot Spitzer: "The Fed is a Ponzi scheme, an inside job, it is outrageous, it is time for congress to say enough of this"
New York City's Pain
Submitted by Tyler Durden on 07/24/2009 - 09:30One feels the pain of New York City Comptroller Bill Thompson, Jr. Not only does he have to deal with the continuing lunacy over in Albany and the still ongoing power struggle in the wake of Spitzer's abrupt implosion, but he has to scramble to contain the fall out in the world's most financially dependent city. His only wildcard: hope, whether it be preached by 1,000 billboards across America, or Obama appearing on TV every 15 minutes to remind Americans that the only way out of a credit crisis is to max out their credit cards, or by watching comedy channels disguised as financial reporting.
Sprott's David Franklin On The Depression
Submitted by Tyler Durden on 07/24/2009 - 08:25"This is a vicious bear market rally"
Daily Highlights: 7.24.09
Submitted by Tyler Durden on 07/24/2009 - 08:01- Asian markets rise on improving economic data, strong earnings.
- Europe truck sales down for 14th month.
- Existing-home sales rose 3.6% in June from the previous month.
- U.K. second-quarter GDP fell 0.8%, according to preliminary reading.
- US Mortgage rates rise to 5.2% in first gain in 4 weeks: Freddie Mac.
- 3M Co. posts 2Q EPS of $1.20, beating cons est. by 28%; ups Y09 EPS f'cast.
Frontrunning: July 24
Submitted by Tyler Durden on 07/24/2009 - 07:52- CIT bankruptcy to follow even if exchange offer is successful, uncaring robots run futures up on news (Bloomberg)
- Earnings really starting to suck: Schlumberger profit down 57% (AP), in other news economy irrelevant to the recovery
- Slowest diamond sales since 1974, good for another 10 points on the S&P (Bloomberg)
- In the meantime JP Morgan is increasing banker base pay, while bonuses will likely remain as high as always (Bloomberg)
- Euro rises on improved confidence Europe will never export another product again, market on 10th straight up day, 355 more to go (Bloomberg)
- In the meantime the "strong" German recovery is weaker than its US counterpart, as Obama keeps handing out blue pills (FT)
So It Begins: The SEC Commences Investigation Into Goldman Sachs Trading Practices
Submitted by Tyler Durden on 07/24/2009 - 00:36"We are taking your complaint regarding Goldman Sachs and its proprietary software that may be used to manipulate the markets very seriously, and have referred it to the appropriate people within the SEC."
Bloomberg's Pimm Fox On High Frequency Trading
Submitted by Tyler Durden on 07/23/2009 - 22:53First Goldman, now High Frequency Trading... The media onslaught is converging.
A Limited Chance To Demonstrate Your Own Piece Of Zero Intelligence
Submitted by Tyler Durden on 07/23/2009 - 22:29
Here is your chance to possess a very limited edition of Zero Intelligence. Only 200 of these will be made. All the proceeds will go to fund the CNBC Talking Head Education Infrastructure Fund, L.P. (i.e., our servers) which, even though being 3 and 30 is very rapidly depleting.
