HFT

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"Diva Of Distress" Dissed: Court Tosses Lynn Tilton's Lawsuit Against SEC, Which Is Suing Her For Fraud





Just hours after the SEC sued Lynn Tilton for CLO fraud, the "Diva of Distress" countersued the SEC to stop it from pursuing its civil charge, alleging the SEC violated her constitutional rights or something. As she said then, "I hold hope that our nation will allow a fair fight for truth, to defend integrity and intent against allegations and provides fair forums," Tilton posted on Twitter. Our nation did not.

 
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Investors Sue Wall Street, Markit For Conspiring To Monopolize CDS Market





With a DoJ probe having predictably gone nowhere, a group of pensioners and retirement funds are suing Wall Street and Markit for colluding to monopolize the CDS market. Amusingly, Citadel has been subpoenaed to discuss how it was shut out of creating a CDS trading platform by the "oligopolistic" activities of TBTF banks, even as the firm looks set to dominate the market for IR swaps.

 
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"It's Time To Hold Physical Cash", Fidelity Manager Warns Ahead Of "Systemic Event"





“Systemic risk is in the system [and] we are in uncharted territory. Think about holding other assets. That could mean precious metals, it could mean physical currencies.”

 
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Is This Complacency, Idiocy, Or Both?





How can it be implied that the markets are too fragile to deal with an unexpected raise of interest rates to (gasp) 1/4 of 1%, if all the “data” we were told (or sold) has been showing signs of all this “improvement?” The question still remains: How does any Ivory Tower prognosticator, or Wall Street talking head, square all these circles? Simple – they don’t. They just act as if it they didn’t or won’t happen. Or, just continue to act as if we’re too dumb to answer. This is complacency, idiocy, and more – all turned up to 11!

 
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Sweden's Largest Fund Manager Is Quietly Dumping Stocks Before The "Herd" Is Caught In A Selling Vortex





"There are clear advantages to going against the herd at the moment,” said the Head of Multi Asset at Sweden's largest fund manager.“You get more return taking less risk by not joining a herd that goes for an asset without fundamental backing.” Ultimately, investors are aware of the disconnect between fundamentals and valuations, so they’re “trigger-happy.” That means they’re ready to “reverse as soon as things shake a little,” he said adding that " the shortage of liquidity is a sign people are starting to doubt the sustainability of the current price environment."

 
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RenTech Uses "Amazing" Legal Trick To Help Employees Dodge Retirement Taxes





Through a series of "fairly complicated" and "quite amazing" legal maneuvers, Jim Simons' Renaissance Technologies has devised a way for employees to invest their retirement savings tax free in Medallion fund which has averaged 72% annually for the past ten years.

 
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Why Greece Matters (To Even The Most Small-Minded US Equity Manager)





The Greece saga continues. This is a story that does not deserve to be derided by whines of “I’m sick of reading about Greece” and “If it weren’t for Greece”, blah, blah, blah. The next B level economic number that HFT traders can jump on is not more interesting nor important. This is a Western democracy, member of NATO and the euro zone in the throes of social and economic revolution. Their problems go to the very heart of EU problem... Today is the Fed’s day, but don’t dismiss this story for small mindedness.

 

 
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Futures Rebound As Yellen's Market-Lifting Track Record Offsets Greek Gloom





With the Fed's June FOMC statement in just over 7 hours and a Yellen press conference to follow shortly, one in which nobody expects the Fed will announces its first rate-hiking cycle in nine years despite repeated clues by Yellen that not only is there froth in the market but that the Fed has no dry powder to contain the next crisis when it emerges (even though a rate hike will catalyze the next crisis), traders have chosen to ignore the chatter from Greece which is getting worse by the hour, and unlike recent days, have bought risk overnight based on one simple technical: of the five press conferences in ten Fed meetings held by Yellen as Chairman, the S&P finished higher 80% of the time.

 
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What Can Possibly Go Wrong: The "Flash Boys" Arrive In China





"China's market is highly inefficient, which means it's relatively easy to produce absolute returns. Chinese retail investors don't have any advantage over us."

 
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The 50 Most Illiquid Stocks





One of the strategies that has emerged in the post-squeeze normal is cornering the most illiquid stocks, and pushing them up, or down with relative ease due to the lack of liquidity and/or broad participation. But how does one go about quantifying what are the most illiquid stocks: is it the ones that trade the least on any given day (a double edge sword, because exiting a position would be that much more problematic after pushing the prices to any desired level), or is it simply those where individual trades have the highest price impact? One suggested answer is to look at the equities whose current float is a small fraction of their total outstanding stock.

 
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Why Stocks Are Not "Cheap Relative To Bonds"





At present, John Hussman notes that market losses that may seem like “worst case” scenarios are actually quite run-of-the-mill expectations. As Santayana wrote, “Those who do not remember the past are condemned to repeat it." In other words, "panic before everyone else."

 
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DOJ Launches Probe Of Treasury Market Manipulation





Earleir today in confirmation that a crack down on yet another market for gross manipulation is imminent, the Post reported that the Department of Justice fresh from doing all it can do prevent Vladimir Putin from blowing $10 billion in the bottomless hole that is World Cup 2018 infrastructure spending, is probing the Treasury market for possible manipulation.

 
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