Psychiatrist: I think we might be suffering from "Empty Nest Egg Syndrome."
I’ve mentioned this once before, and many of you probably saw that segment of “60 Minutes”, and seen reviews about a new book, by a Canadian trader on Wall Street, who investigated what he, and many other traders, thought was odd.
A group of investors (unknown) put up many millions into a private facility in New Jersey, loaded with new super-fast computers, and special fiber-optics to the NYSE, which monitors, 24 hours a day, all transactions. If a trader, working for YOUR hedge fund, or whatever, sees a good investment at, say, $100/share, as he pushes the button to buy 500 shares, ON YOUR BEHALF, these computers actually can intercept his signal, interpet it, and STILL BEAT the trader’s signal to NY and snap up the shares, which the computer then puts up for re-sale at, say, $105/share. This is not illegal, and has been going on for two years now.These few investors produce no product, provide no service. They are only sucking up a piece of other investors money; literally, a leetch! I have not read a word about the White House, Congress, or the Fed, taking any action on this.
If anyone else knows more, please comment.
April 12, 2017
May 10, 2018
June 11, 2017
July 06, 2017
November 24, 2017
December 06, 2017