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Morgan Stanley CFO Blames Brokerage Group Margin Miss On Investors Scared Away By Flash Crash
BN 7:52 *MORGAN STANLEY SMITH BARNEY HAD SET 15% MARGIN GOAL FOR 2010
BN 7:52 *MORGAN STANLEY'S PORAT SAYS `FLASH CRASH' SCARED AWAY INVESTORS
BN 7:52 *MORGAN STANLEY CFO PORAT SPEAKS IN INTERVIEW ON PROFIT GOALS
BN 7:52 *MORGAN STANLEY TO MISS BROKERAGE PROFIT-MARGIN GOAL, PORAT SAYS
Luckily the SEC is all over restoring investor confidence in the market... of hard core internet porn.
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this should restore confidence:
http://www.youtube.com/watch?v=443Dt5uJsp0&feature=player_embedded
IMO the cause of the event was the NBBO or National Best Bid Offer system implemented a few years ago without any failsafes for unusual price movement. W/in one second your stop or sell will trigger if for one second a stock's best bid is .01 or whatever. I have countless written proof of these instances and have been assured firms are working to prevent "unusual" aka 10% 1 second executions but they fail to follow through. For many the past couple years with lack of liquidity has made these instances occur so frequently that anyone with common sense has walked away from the game. It just isnt fun when EVERY time your 7 or 8% Bill O'Neil stop is triggered for several causes umrelated to old fashioned trading. Decimilization has destroyed the need for market making risk taking or a human to stepo up to the plate and be willing to buy at a given price. Skynet is failing us.
I've never been the same since the Flash Crash. The thing is these Fuckers believe this, on the contrary you fuck it's from being raped by you bastards that were not in the market any longer. Asswipe
Flash crash causes margin miss. Congrats Morgan Stanley for following the playbook.
lol,
"pass the ky, i gotta REGULATE!!!"
Blamed it on the flash crash. Guess that would be a half truth, but to blame the whole quarter on flash crash.....
I'm actually looking to the next flash crash. I mean lets face it, it was a lot of fun.
I do not think it was the flash crash. I has to do with the HFT Computer Trading. Pushing the price to a preprogramed price an then Churning all day.
Traders cannot win against a Computer. I wonder how long people would sit in front of a slot machine if they only put money in and never won? HFT anyone?
Bingo. You are spot on, although the "flash crash" must get some credit as well. This fuckin casino is a joke, let the computers masturbate each other and just stay out of it until it implodes on itself.
Then, we can invest where we should be investing, at sub-10x PE ratios and high dividend yields.
Yes, the HFT Computers were responsible for the Flash Crash. As people or Institutions sold they kept front running their Sell orders. It got out of hand, as the price went down more and more People sold and the more the Computers would front run the Trades. This caused the huge downdraft.
Computers frontrunning gone wild.
Maybe the population is not the idiots Wall Street has relied on in the past and people have woken-up to the fact that the system is rigged and only the big boys win at taxpayers expense. F**k them!
Yes, I think the internet and Blogs like Zero Hedge have informed Investors. They basically have taken their money out of a Market designed to only take Money and give nothing in return.
She's a man, baby.
nice...
BTW - Orgy scheduled for this Friday after 5 pm at the SEC building in DC. Bring protection!
Miss?? What miss?? Up 8 1/2% baby!!!!!
With apologies to the O'Jays; Get on board baby!!!!
Don't you know that it's time to get on boardAnd let this train keep on riding, riding on through
Well, well
People all over the world (you don't need no money)
Join hands (come on)
Start a love train, love train (don't need no ticket, come on)
People all over the world ( ride this train)(Ride this train, y'all)
Start a love train (Come on, train), love train
Ride it up my man, ride it up.
HUGE HUGE apologies to the O'Jays.
Porat? Is he Borat's cousin from Uzbekistan? Me screw market long time!
Post Traumatic Flash Crash Disorder
I see grounds for litigation, counselor.
This is a tactic to gain market position. MS is kicking the hornets nest of regulation by blaming the flashcrash in hopes to get greater regulation on HFT. From this, I can conclude Morgan's HFT algos are an old "rev" and cant keep up with Goldman's algos. Therefore, Morgan is going to get the regulator to level the playing field.
Continue to stay out.
The tick to tick bars are really small these days. Gone are the 50cent-1dollar moves on the SPY.
Well when you have two forces moving in oposing directions, the moves are muted. Once one force diminishes in magnited, the movements will increase again. Let us see who can win, the Feds or Gravity. Tune in at 2pm for pre-fight announcement.
Gold Coin Sellers Angered by New Tax Law Amendment
Slipped Into Health Care Legislation Would Track, Tax Coin and Bullion Transactions
http://abcnews.go.com/Business/gold-coin-dealers-decry-tax-law/story?id=...
I heard about this before. Although coin dealers are upset, every buisness owner should be. The law states a 1099 is to be submitted for every purchase over $600. Can you imagine? This is a bureaucrats wet dream and will swamp the IRS if indeed this is mandated.
Crooks, thugs, mobster, all these found these days in wall street, not surprised all smart investors have fled in panic and put their money under the mattress. What did ya expectttttttttttttt!!!!
In the immortal words of Milli Vanilli, "gotta blame it on something."
http://www.youtube.com/watch?v=NwrL9MV6jSk
-michelle- great song, it is sad that Rob Pilatus committed suicide due to the lip-sync scandal. Enjoyed their music.
I've read Morgan Stanley's comments and what they don't get is that the retail investor is not the same retail investor of years ago. The retail investor knows about HFT and the lack of value that most Wall Streeters bring to helping them with their investments.
Until there is real financial reform on Wall Street, many will not be back.
DOW chart update :
http://stockmarket618.wordpress.com