In a fascinating Odd Lots podcast with Tracy Alloway and Joe Wiesenthal he takes the audience on a wild stream of consciousness ride that explains the most arcane details of the fractured modern electronic market structure and Virtu’s attempt to provide intermediation in every major marketplace in the world.
In his new book, “Noise” Danny Kahneman talks about a consulting project he once performed for an insurance company. In insurance the field of underwriting (deciding how much premium to charge) is as much an art as it is a science.
This month marks the 20th anniversary of the QQQ – the Nasdaq ETF, one of the most profitable financial products ever invented. If an investor allocated $100 each week to the QQQ presently his portfolio would be worth approximately $668.000 or about three times the total investable capital.
Key FAANG stocks all reported numbers with most blowing out their results well above consensus estimates. Yet the overall market is showing little follow through as the tech heavy Nasdaq trades lower this morning.
One the other side of the pond however, the world of sport was in the midst of a revolution that brought back memories of Trotsky, Lenin and the workers uprising of 1917. The near mass hysteria that broke out across the Continent and the UK was the sudden announcement of the Super League –