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Full text hereThis paper will explain how these traders – namely liquidity rebate traders, predatory algorithmic traders, automated market makers, and program traders – are exploiting the new market dynamics and negatively affecting real investors.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a3HBMf4CN6okGoldman Sachs Group Inc. may lose its investment in a proprietary trading code and millions of dollars from increased competition if software allegedly stolen by a former employee gets into the wrong hands, a prosecutor said.
So, does that man G/Sachs was using the software in "unfair ways"
Edit: don't take me seriously, i'm being a little ironic here:
Indeed.Yes, it's a bit like "I'm allowed to have a nuclear bomb coz I will use it responsibly" but you can't
Bulls On Parade
A bit of light reading on the damage high speed computer (algorithmic) trading systems are doing to the average trader/investor, in light of the Goldman Sachs code theft case - it's not a level playing feild after allc:
Full text here
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a3HBMf4CN6ok
They must be telegraphing something for use at another date?
Like in a month when some big move happens they could say hey that was that crazy program we better give the fed all control over markets so no one (else) can manipulate the market.
Full text here
In what some on Wall Street are calling the biggest blockbuster deal in the history of the financial sector, Goldman Sachs confirmed today that it was in talks to acquire the U.S. Department of the Treasury.
According to Goldman spokesperson Jonathan Hestron, the merger between Goldman and the Treasury Department is "a good fit" because "they're in the business of printing money and so are we."
The Goldman spokesman said that the merger would create efficiencies for both entities: "We already have so many employees and so much money flowing back and forth, this would just streamline things."
Mr. Hestron said the only challenge facing Goldman in completing the merger "is trying to figure out which parts of the Treasury Dept. we don't already own."
Goldman recently celebrated record earnings by roasting a suckling pig over a bonfire of hundred-dollar bills.
It's good to see that earnings are so goodGoldman Sachs Group Inc. boosted its forecast for the Standard & Poor 500 Index, saying improving earnings will spur the steepest second-half rally since 1982. The benchmark index for U.S. stocks will advance 15 percent from its June 30 level to 1,060 on Dec. 31, an increase from David Kostin’s prior projection of 940. The chief U.S. investment strategist at New York-based Goldman Sachs also lifted his 2009 and 2010 earnings estimates for S&P 500 companies to $52 and $75 a share, which are 30 percent and 19 percent higher than prior estimates.
Only down 35.7% yoy - let's party :alcohol:Thanks mainly to last week's strong results from banks, second-quarter projections had improved slightly by the end of last week, with earnings expected to decline 35.2 percent from a year ago compared with a forecasted decline of 35.7 percent in the previous week.
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