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The Evolution Of Wall Street (In One Cartoon)
Wall Street has come a long way from Jesse Livermore's "money is made by sitting, not trading", "It takes time to make money", and "nobody can catch all the fluctuations." Now we have HFT "flash boys" who only make money 'trading', in milliseconds of time, capturing every fluctuation...
h/t @kalleldn of Penguin Press
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Is that last guy Robotrader? I wondered what happened to him.
Ask Robotradersmom
Who was that guy always pushing solar energy inverstents??
Harold ?? Harry??- something like that
He was always getting slammed and vanished about the same time as Robotrader.
Yea the Chinese solar dude, dang...
Dupe.
"Who was that guy always pushing solar energy inverstents??
Harold ?? Harry??- something like that"
Leo Kovaklas? Or something like that. That seems familiar. Wasn't he some big-shot fund manager for a Canadian retirement fund?
Speaking of such - what happened to some of the regulars from long ago?
Cheeky Bastard, Robot Trader, Orly (although he/she sometimes drops back in), Harry Wanger, and ol' Mister "it only costs $5 to mine silver"? Where are they today?
Ha, here he is:
Leo Kolivakis's blogRIP Aug 4, 2011
He must be up there near that sun he loved so much.
http://www.zerohedge.com/blog/5787
Yeah, how does one draw an algorithm?
This way:
http://www.thealgorerhythm.com/The_Solution.html
Much more fundamentally important than the silly internet! </sarc>
>>Yeah, how does one draw an algorithm?
Maybe should ask the BTC guys since they've got to some how convince the populous with their magic numbers.
In picture the HFT guy looks more like Radar from Mash.
Anybody know why the market just went mad?
DavidC
it be that time of day
...The Cartoon is missing a copy of the "Constitution" folded nicely, sticking out of all their back pockets.
Folded? You mean set aflame don't you?
Edit: I hope they fart
it's open...what else would it do?
Robots.
Because it's rigged to go higher.
I turned off my HFT system to save money on the electricity bill
You should've had it doing double-duty mining bitcoins.
come on..... Lloyd carries his own brief case?
He keeps a copy of the RICO Act with him at all times for easy reference.
Looks like Lloyd is fanning a fart, crop dusting the other guys
Funny.
Pretty sure most sheeple will still not understand their savings/pensions/IRA's-401K's are used as gambling chips.
All those hard earned paycheck contributions: front run, fee'd, used as leverage, bet against, re-flated then crashed - while it "sits" on the green felt for Wall Street to play with.
Decades of legerdemain and skullduggery yet the hamsters stay on the wheel.
Generational theft yet the generations remain somnolent.
"Lions eating the antelope."
.gov does the herding.
I am glad you mentioned the fee'd part.
I doubt anyone other than us on this site know anything about even if one "wins" with one's 401(k) or 403(b), there are a lot of fees that keep taking more and more bites out of the gains, and make the losses more severe.
Mutual funds are very good for that too.
Why pay someone to lose our money when I am perfectly good at doing so myself?
When I looked at some of the "options" in my wife's 403(b), I told her just contribute enough to get the match until that goes bye-bye, we will do the rest in a self directed IRA.
Match or no match, I wouldn't put any more money into this system only for it to be rehypotheticated, then leveraged against me.
Real assets are what make retirement possible. BennieBux, meanwhile, will only leave you hungry for more, like any starchy "meal."
Remember, TWO times ZERO purchasing power still equals ZERO.
how else do I keep up with inflation?
the cost of heating the house just doubled last year...if I was long and strong gold, silver, copper, etc...none of which I have to buy for day to day expenses...indeed what one could argue is in fact an expense...I mean how do I survive here without being a hedge fund?
smaller house.
Hedge.
I'm in the same boat. I match because even 50% "losses" are break even, and there's a good amount of upside overtime.
And yes, I totally understand the arguments against and for those who choose to not engage then I respect that decision too.
All any man can do is what's best for himself and his own family. Choose life accordingly.
For the rest of us, there's the MyRA.
All praise the MyRA Almighty!
Has a good beat, and you can dance to it...
I just made my own petition :)
https://petitions.whitehouse.gov/petition/stop-mobile-suppliers-force-us...
STOP THE UPGRADES!
:)
come on guys, it's for the greater good :)
ALL YOUR DEVICE ARE BELONG TO US..
YOU HAVE NO CHANCE, MAKE YOUR TIME..
HA HA HA..
I was first thinking about "BRING BACK FAMILY GUY"
but...
I watch european channels so there's nothing in it for me :)
It's called modding and rooting your device.
Cell Phones with stock bloat ware are complete garbage........
Take my cell phone bill , I have unlimited data 300$ a month etc ... etc... yet without modding the phone I can't use jack shit on my phone.
They like to SELL you features on phones, but they then turn around and Lock you out of the features you pay for.
Sprint/verizon etc... they are all scam shell companies.
you pretty much have to break some kind of law just to get the advertised features you are paying for, it's not really a contract when your carrier breaks the contract/changes the terms of the contract every month.
All cell phone contracts are essentially null and voided every month by you carrier, people should really take the carriers to court, the carriers have no leg to stand on.
Its like we made contracts with a company to let us drive a hummer with four wheels around, then every month the company comes and starts removing features first they take out the radio, then they take a few wheels, till your pretty much left with a skeleton frame of a hummer.
Cell phone companies and other communications companies in general in the united states are the biggest scam industries.
.
No.Just no.
Wall Street is totally rigged along with the entire financial system. The USSA is a joke. Look who is President - with the make believe elections.
Did you see how many voters in North Carolina alone had cast votes in more than one state? I think the number was 42,000.
There are 50 states. Think about that. Think about which states had close outcomes.
We are being had every way we turn.
See it where? Bet the story is a deliberate lie.
http://www.politico.com/story/2014/04/nc-probes-possible-double-voting-1...
35k, not 42k. My bad.
Ode to Crimerica : Vote early and often
I wonder what the next step will be.
As I sit here listening to the book, and having seen so many comment that it's a narrower spread today than a decade ago, so what's the big deal, I can only say one thing.
Read the book yourself. It's NOT about the spread.
Flash traders have a license to steal. They see the buy and sell orders before anyone else and can execute trades ahead of everyone else. They basically act as middlemen or scalpers by seeing what you want to buy and buying ahead of you just to turn around and sell it to you at a higher price. It may be a fraction of a cent per share, but with millions of shares, high-speed computers and leverage, we are talking about real money. It may not be technically illegal, but what purpose can it possibly serve the exchanges? Who cares if it tightens the spreads or slightly decreases volatility. How is any of that worth letting these guys in the front of the line?
Exactly. Which is why they don't provide any liquidity to the market.
They only buy from you when they know there is another real buyer in the market, at a higher price, who has not yet connected with you because of the normal time delays in the market, to which they (the HFT operator) are not subject. If they can see there is no real buyer in the market then they will not buy from you. So all they do is prevent you and a real buyer from meeting at the most mutually beneficial price.
This is unlike the traditional market maker who provided liquidity based on their judgment as to whether at some future time they would likely find a buyer at a profitable price, and who was therefore prepared to carry stock for some meaningful period.
Worse, it's stealing with the blessing of my very own broker's assistance.
So this is how it goes.
I place a market order to buy 10,000 shares of SWHC.
They see the order, buy 10,000 shares first, moving up the asking price, then sell the shares to me, at market.
They make money.
The broker gets paid for the order routing.
I get my pockets picked by just little enough to where they hope I do not notice, and come back often.
And that is why I will only place limit orders from now on.
Frankly, this is a fucking joke.
It's stealing pure and simple.
Even worse, we cannot be sure how weak these markets really are with the sheer amount of volume they are adding it. Likely we are ALL overpaying for stocks ALL the time.
Bit of a misconception in the end. The actual programmer eventually might learn the strats as he tweaks them for the firm, but in the first place, he needs information skilled developers usually do not have and they have skills traders/brokers usually don't have either.
Yo Tyler, where's the story on the MF Global customers getting all their money back?
The nice thing about any map of evolution is that eventually it leads to extinction....
They left out the next phase of the evolution...a big mushroom cloud.
either that or pitchforks and torches.
and....it's gone.
The Simpsons - Homer Evolution
http://www.youtube.com/watch?v=faRlFsYmkeY (1:29)
if that fucking cunt Yellen would stop printing, those HFTs wouldn't have much to say as the markets tank back to reality
so whadda ya say Janet? feel like shutting down those printers?
right, thought so you miserable cunt!!!!!!!!!!!!!!!!
HFT populism. Boring loser talk.
Why are regulators closing a blind eye to HFT ?
1) It keeps stock market buoyant, creates volume and increases asset
values
2). It creates employment in stagnant financial industry
3). It leads to software and communication equipment sales
4) It extracts investment money from savers, pension funds and hedge
funds In a low interest environment
5). It creates revenues for governments
6). It is compatable with Ponzi, debt/credit, speculative gangster greed
economy and therefore a Win-Win for all involved-------until the whole
system collapses
DEvolution. Fixed it!!! Now time to get wasted!!
From hookers and blow to tentacle porn and Red Bull.
Americans really have become pussies!!!