The U.S. stock market is a rigged game where high-frequency traders with advanced computers make tens of billions of dollars by jumping in front of investors, according to author Michael Lewis, who spent the past year researching the topic for his new book “Flash Boys.”
While speed traders’ strategies, developed over the past decade with help from exchanges, are legal, “it’s just nuts” that they’re allowed, Lewis said during an interview televised Sunday on CBS Corp.’s “60 Minutes.” The tactics are too complicated for individual investors to understand, he said.
Either the Volcker Rule is making Wall Street's menu of investment choices so unbearably limited, or traditional assets are so overpriced Wall Street won't even touch them with other people's money, but when it comes to allocating capital the smartest conmen in the room are coming up with some truly unorthodox products. Such as investing in ex-convicts in the form of 2000 newly released prisoners.
Adidas picked Andy Murray over Novak Djokovic three years ago in what looked like a colossal mistake by the German sportswear company. But Murray's historic Olympic gold and U.S. Open double could launch him to the top of the sport.
Last Thursday evening, I sat down at a small Hold’em tournament in my neighborhood. The competition at this event is pretty strong – with a number of players making regular appearances at major circuit events.
With Veterans Day coming up on Monday, America's oldest living military veteran is enjoying the spotlight on his service once more, but even at the age of 107 he doesn't seem to be slowing down. Richard Overton, an Army veteran of World War II now living in Austin, Texas, still enjoys cigars and whiskey every day.
Shares of Google (GOOGL) are down more than $33, or 6%, at $530.10 in premarket trading Thursday, after the search giant reported first quarter revenue and EPS that missed Wall Street expectations. Google had previously closed up 3.75% just after the bell on Wednesday. The company reported $6.27 earnings per share on revenue of $15.42 […]View the full post at: Google Misses Wall Street Expectations Despite Delivering a Healthy Quarter – GOOGL
Yesterday David Einhorn was bounced from the World Series of Poker when another hedge fund manager produced two aces to beat his ace jack combo (Einhorn finished in 72 place). So the all-important question there, obviously is — who was that guy?