« previous next »
Pages: [1]   Go Down

Author Topic: All of a sudden, I understand the financial collapse perfectly.  (Read 3241 times)

Offline WindAndConfusion

  • Veteran
  • ****
  • Posts: 1,336
All of a sudden, I understand the financial collapse perfectly.
« on: Tuesday, July 07, 2009, 04:55:46 PM »
Quote
In a nutshell, the "black box" trading platforms of Goldman and other banks use a combination of proprietary, secret algorithms and the fastest hardware available to take in a torrent of news and other market data and generate a stream of trades that are timed to the millisecond. So, instead of operating on the old stock market adage, "buy on the rumor, sell on the news," a high-frequency trading platform like Goldman's will buy a few milliseconds after the news hits, then sell moments later at a very small premium to other traders and platforms who didn't get the news in (or their trades out) quite as fast. Do this billions of times a day, and voila, you're printing money.
I want you to know that when I read this, I swore at every deity from every religion.
Logged

Offline Quemaqua

  • 古い塩
  • Administrator
  • Forum god
  • *
  • Posts: 16,498
  • パンダは触るな。
    • Bookruptcy
Re: All of a sudden, I understand the financial collapse perfectly.
« Reply #1 on: Tuesday, July 07, 2009, 06:30:54 PM »
* Quemaqua opens mouth to speak, fails to emit sound, closes mouth.
* Quemaqua attempts to type thoughts, fails to type thoughts, walks away from keyboard.

 ...
* Quemaqua rummages for shotgun.
Logged

天才的な閃きと平均以下のテクニックやな。　課長有野

Offline Ghandi

  • Senior Member
  • *
  • Posts: 4,804
  • HAMS
Re: All of a sudden, I understand the financial collapse perfectly.
« Reply #2 on: Tuesday, July 07, 2009, 09:26:10 PM »
Yeah but if you hate stuff like this you're basically communist.
Logged

Offline Xessive

  • Gold Member
  • *
  • Posts: 9,920
    • XSV @ deviantART
Re: All of a sudden, I understand the financial collapse perfectly.
« Reply #3 on: Wednesday, July 08, 2009, 07:04:36 AM »
Capitalism sucks, communism sucks. Both are ridiculous extremes, ideally we should have a system of moderation.
Logged

Offline Cobra951

  • Gold Member
  • *
  • Posts: 8,934
Re: All of a sudden, I understand the financial collapse perfectly.
« Reply #4 on: Wednesday, July 08, 2009, 07:06:42 AM »
A system that imposes social obligations on business?  You damn socialist!
Logged

Offline Pugnate

  • What? You no like?
  • Global Moderator
  • Forum god
  • *
  • Posts: 12,244
    • OW
Re: All of a sudden, I understand the financial collapse perfectly.
« Reply #5 on: Wednesday, July 08, 2009, 07:19:05 AM »
Logged

Offline K-man

  • Post-aholic
  • *****
  • Posts: 2,967
  • HOW'S IT FEEEEEL IDOL
Re: All of a sudden, I understand the financial collapse perfectly.
« Reply #6 on: Wednesday, July 08, 2009, 09:20:09 AM »
America, FUCK YEAH!
Logged

Offline Ghandi

  • Senior Member
  • *
  • Posts: 4,804
  • HAMS
Re: All of a sudden, I understand the financial collapse perfectly.
« Reply #7 on: Friday, July 24, 2009, 04:52:47 PM »
http://www.nytimes.com/2009/07/24/business/24trading.html?_r=1&em

Good, short article on high-frequency trading.
Logged
Pages: [1]   Go Up
« previous next »