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I have no idea how I didn't see this coming. HBO has like the worst pre-air marketing aside from anyone short of Amazon Prime. https://www.youtube.com/watch?v=JY79B90nVyY https://www.youtube.com/watch?v=Phtuqpus1_0 https://www.youtube.com/watch?v=Fq4m9UVh2kw https://www.youtube.com/watch?v=bGRVx_12f4Y I am, now that I know about it, very excited. I love Ann Richards. She would have made a fantastic first woman President. Apologies if this has been posted, I checked back a bit, but I've been very busy.
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Apr 27, 2014 04:14
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That "silver foot" line never loses it's beauty.
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Apr 27, 2014 04:35
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Joementum posted:I just finished Flash Boys today and I have to say, it's a really lovely book. Lewis leaves cliffhangers at the end of chapters that he only vaguely answers mid-paragraph in the epilogue and the dialogue is so over the top (even by Michael Lewis standards) that you Yeah but think of how easy it would be to turn into a screenplay. One should always be prepared for the possibility of one's Dad-Tales Totally 100% Not Embellished Account (Full of Colorful Ethnic Characters) being optioned into a based-on-a-true-story blockbuster.
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Apr 27, 2014 04:38
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Pope Guilty posted:That's a pretty clever little scam. If the solution is known, why can it still happen? Well, most of the younger members of the SEC go straight into HFT after a few years so the agency itself is split on how to proceed plus the pro-HFT groups got to them before anyone really knew what was happening and they're specifically exploiting 2 pieces of regulation that the SEC passed. One of them caused the creation of a SIP which is a computer that has a constantly updated picture of the market and if you put your trading machine in literally the same room as the SIP you'll have access to market movements before anyone else by a few microseconds. Secondly the SEC forced brokers to buy/sell shares by seeking the best price available in response to brokers previously abusing their customers. Well now if you're an HFT firm you put out small offers on every stock available for less than the going price and you say "hey no fees for brokers here" so they're legally obligated to buy the 100 shares you're selling of IBM at 85.5 before they can they go purchase the rest of the order at 86.1. The problem is that this transaction gives the HFT guys enough information to run ahead of the broker buying up the rest of IBM and selling it back to the broker at 87.0 for a nice profit. Imagine this happening on every single trade all day every day and it adds up fast. In addition a lot of the major banks, Goldman, Bank of America, Credit Suisse, etc run their own mini exchanges called dark pools. They claim they'll be able to find a seller or buyer for their clients without going outside their own mini exchange. They're called dark pools because they don't publish the rules of the exchange meaning that you're completely at the mercy of the bank as to how your order gets filled. What they've taken to doing is selling access to HFT shops to their dark pools so the HFT shops can take informed positions in the market. This is notable because the banks are once again actively working against their own clients. If a client comes in wanting to buy 1000 shares of IBM in their dark pool they tell the bank, lets say Morgan Stanley, and Morgan Stanley first offers outside HFT shops a chance to see the order and move the market before Morgan Stanley fills that order. It's a wonderful system, truly the freest of markets.
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Apr 27, 2014 04:44
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What's the point of all this dark pool business, to hide sneaky accounting trickery and/or outright scofflaw behavior?
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Apr 27, 2014 04:51
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Nessus posted:What's the point of all this dark pool business, to hide sneaky accounting trickery and/or outright scofflaw behavior? It also keeps the power with the bank, disempowering investors who have no way of evaluating whether or not they're being done right by.
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Apr 27, 2014 04:54
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Dark pools were originally meant to reduce market impact i.e., shifting prices when buying or selling large volumes of a ticket. I used to work on the buy side where reducing TCA was one of the main responsibilities of the execution traders. Happy to answer questions. Anyway, the problem with flash boys is that the book is 5 years out of date. Margins for HFT have gone down dramatically as the industry got saturated.
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Apr 27, 2014 04:56
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ReindeerF posted:
Thanks for pointing this out, I didn't know about it either. I was just a bratty teenage punk when she was in office and didn't appreciate how awesome she was at the time, but I'd love to have someone like her back in office again. Unfortunately they don't really make many like her.
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Apr 27, 2014 05:00
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Inglonias posted:Ok, that and when I went to Italy and tried some wine, I couldn't stand the stuff. Tastes far too bitter for my wussy palette (didn't help that it was red wine). Keep following current events. You'll find a taste for drink or you'll find a reason to look past it. The town I just left is about to take a hit on sales of the New York Times and Bombay Sapphire.
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Apr 27, 2014 05:08
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Say goodbye to your favorite old British lady, Greenwich.
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Apr 27, 2014 05:29
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ReindeerF posted:I have no idea how I didn't see this coming. HBO has like the worst pre-air marketing aside from anyone short of Amazon Prime. There's a special affinity that Texas liberals have for Ann, everyone is bonkers in love with her. 
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Apr 27, 2014 05:32
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shrike82 posted:Dark pools were originally meant to reduce market impact i.e., shifting prices when buying or selling large volumes of a ticket. I figured it would be a bit out of date. It's nearly impossible for the book industry cycle for a book to keep up with Wall Street changes. What's the new thing as HFT has gotten saturated?
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Apr 27, 2014 05:47
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You Texans make me sad when you bring up Ann Richards because we Utahns don't have a Ann Richards of Utah or any other relatively recent liberal hero.
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Apr 27, 2014 06:19
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Gygaxian posted:You Texans make me sad when you bring up Ann Richards because we Utahns don't have a Ann Richards of Utah or any other relatively recent liberal hero.
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Apr 27, 2014 06:48
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Relentlessboredomm posted:I figured it would be a bit out of date. It's nearly impossible for the book industry cycle for a book to keep up with Wall Street changes. More dark pooling I'd guess. The more the banks keep their investors in the dark the more money they make. It's a race to the bottom in rigging the system.
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Apr 27, 2014 10:54
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So, I understand economics generally enough to be able to understand what's being discussed if it's being done at like an undergrad level. So, forgive me if I sound like a simpleton here, either through naivete or oversimplification, but it seems like our entire economy is, for lack of a better word, imaginary. Like, so ephemeral that if you blew on it, it would be scattered to the wind. More terrifyingly, the people who run the imaginary economy seem like they desperately see the truth as well, and are basically just doing anything they can to protect their racket and couching it in a need for "freedom" from regulations.
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Apr 27, 2014 12:40
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Crap, my paycheck was a figment of my imagination.
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Apr 27, 2014 12:48
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Putin It In Mah rear end posted:Crap, my paycheck was a figment of my imagination. It's cool, all the supply lines involved in creating the things you were going to buy turned out to be imaginary, too.
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Apr 27, 2014 12:53
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Well, obviously I meant the financial part of the economy. The part that, you know, takes away paychecks and infrastructure when the facade crumbles.
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Apr 27, 2014 12:56
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Infrastructure? poo poo, turns out I've been imagining the road in front of my house this whole time.
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Apr 27, 2014 13:10
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TheDeadlyShoe posted:The KKK was always built on a "Morality, Christian Civilization" etc. platform. It's just that terrorism was their way of combating modern decadence. Spaceman Future! posted:I love Biden, but I've got this nagging feeling that the guy who was part of the Choom Gang and casually gushed about Jay Z on the campaign trail, wears out the asphalt on the White House Basketball court and hangs out with Beyonce has a smidgen more resonance and insight with the black community. There was that other thing too.. oh man what was it SedanChair posted:You may have a point in that black urban culture is as much a put-on for Obama as the rancher persona is for Bush. Mr Ice Cream Glove posted:Ted Cruz and Mike Lee everyone Juan Ebolovich posted:I've got to believe that he either doesn't know it's illegal to have those, or he's trying to set off some "government trying to take away my hard earned endangered carcasses" publicity.
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Apr 27, 2014 14:01
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BUSH 2112 posted:So, I understand economics generally enough to be able to understand what's being discussed if it's being done at like an undergrad level. So, forgive me if I sound like a simpleton here, either through naivete or oversimplification, but it seems like our entire economy is, for lack of a better word, imaginary. Like, so ephemeral that if you blew on it, it would be scattered to the wind. More terrifyingly, the people who run the imaginary economy seem like they desperately see the truth as well, and are basically just doing anything they can to protect their racket and couching it in a need for "freedom" from regulations. Algorithmic trading is basically a black box to the humans there - it moves faster and is bases its decisions off inputs that the financial people don't understand, and the rocket scientists and the like employed there know pieces of but not the whole (project is to big for a single person to know all of it). Since it goes faster based off decisions people don't understand, they have since added automated journalism to the programs (http://www.ft.com/cms/s/2/bb3ac0f6-2e15-11db-93ad-0000779e2340.html#axzz305oYLJiu - from 2006 by the way) that will write the news reporting on it and publish it. Most of the stuff you read about finance was not generate by a human, and there is a company out of Chicago named Narrative Science bringing the same technology to the rest of the reporting field. Some of the inputs into the algos are trends identified by their built in spiders - eg if there is a huge upswing in a new series of young adult books, invest in the publisher because they will announce a gain from a movie deal for those books soon. So yes, Goldman Sachs is reading your twitter feed. There are claims I haven't been able to verify that the algos will use their journalism routines to plant things that will trip other spiders - essentially a pump and dump that only computer programs can see. But it wouldn't surprise me, it is wholly within the abilities of the technology. As a guy whose job is automation and process improvement, it is fascinating, full of tricks I know and full of things I want to expand upon and take to other areas. As a guy on the ground watching it, I find it wholly confusing because it means that the financial sector is now basically the economic equivalent of bird watching. Other actors are doing it all, the watchers look on, discuss it, and the one whose birds grew the nicest plumage and raised the most chicks gets the praise and reward for having it happen on their property.
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Apr 27, 2014 14:47
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Cardboard Box A posted:The Choom Gang thing was way back in High School so it's not a calculated persona thing, but I would also point out that Punahou Private High School in Hawaii is about as far as you can get from black urban culture. It's truly hilarious that a poster thought that Obama smoking weed in high school is a part of what makes him more "in touch with black culture." Obama knew his cred was lacking, hence the move to Chicago, picking a church, marrying Michelle etc.
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Apr 27, 2014 15:00
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It's not like I disagree with your general point but I'm sure he married Michelle because he loved her, dude.
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Apr 27, 2014 15:05
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Fried Chicken posted:Algorithmic trading is basically a black box to the humans there - it moves faster and is bases its decisions off inputs that the financial people don't understand, and the rocket scientists and the like employed there know pieces of but not the whole (project is to big for a single person to know all of it). Since it goes faster based off decisions people don't understand, they have since added automated journalism to the programs (http://www.ft.com/cms/s/2/bb3ac0f6-2e15-11db-93ad-0000779e2340.html#axzz305oYLJiu - from 2006 by the way) that will write the news reporting on it and publish it. Most of the stuff you read about finance was not generate by a human, and there is a company out of Chicago named Narrative Science bringing the same technology to the rest of the reporting field. And, as you'd expect in any piece of software of this complexity, sometimes the whole system takes a poo poo in unexpected and hilarious ways and the humans are left to mop up the floor and go back to hoping it doesn't happen again.
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Apr 27, 2014 15:06
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Mecca-Benghazi posted:It's not like I disagree with your general point but I'm sure he married Michelle because he loved her, dude. You seem to be accusing Barack Obama of having feelings other than ambition. That's bold, but OK. I'd say Michelle was exactly the wife he was looking for, and he would certainly define that to himself as love.
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Apr 27, 2014 15:28
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So I'm fairly dumb with the whole math thing, but is there a way to mathematically debunk the flat tax in a short, simple way so as to make the flat tax advocate feel dumb and for you to walk away feeling 
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Apr 27, 2014 15:30
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Dystram posted:So I'm fairly dumb with the whole math thing, but is there a way to mathematically debunk the flat tax in a short, simple way so as to make the flat tax advocate feel dumb and for you to walk away feeling Depends what you want to debunk about it.
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Apr 27, 2014 15:35
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computer parts posted:Depends what you want to debunk about it. I basically want to phrase it in such a way as to highlight the disparities between how much a person would have over, rich v. poor, after taxes in a flat tax system, i.e. - $30,000 - 15% = $25,500, while $130,000 - 15% = $110,500. One person basically lost a car payment or rent and the other barely felt it; I'd like to express that in a non-moral, non-emotional way, since the argument for a flat tax is that it's "fair" since everyone pays the same percentage and who are you to say how much money they can keep and they earned it.
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Apr 27, 2014 15:42
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SedanChair posted:You seem to be accusing Barack Obama of having feelings other than ambition. That's bold, but OK. I'd say Michelle was exactly the wife he was looking for, and he would certainly define that to himself as love. I'm legitimately a little unnerved by this line of reasoning.
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Apr 27, 2014 15:49
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SedanChair posted:You seem to be accusing Barack Obama of having feelings other than ambition. That's bold, but OK. I'd say Michelle was exactly the wife he was looking for, and he would certainly define that to himself as love. Dude, seriously? (Most) politicians are people too, you know.
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Apr 27, 2014 15:53
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Captain_Maclaine posted:Dude, seriously? (Most) politicians are people too, you know. Yes, sociopaths are people.
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Apr 27, 2014 15:56
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SedanChair posted:You seem to be accusing Barack Obama of having feelings other than ambition. That's bold, but OK. I'd say Michelle was exactly the wife he was looking for, and he would certainly define that to himself as love. I'm having a Poe's Law moment here. edit: wait, what? Why is Obama a sociopath? Do you think all politicians are sociopaths?
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Apr 27, 2014 15:57
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Dystram posted:So I'm fairly dumb with the whole math thing, but is there a way to mathematically debunk the flat tax in a short, simple way so as to make the flat tax advocate feel dumb and for you to walk away feeling "It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion." -the father of capitalism
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Apr 27, 2014 15:57
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Dystram posted:I basically want to phrase it in such a way as to highlight the disparities between how much a person would have over, rich v. poor, after taxes in a flat tax system, i.e. - $30,000 - 15% = $25,500, while $130,000 - 15% = $110,500. One person basically lost a car payment or rent and the other barely felt it; I'd like to express that in a non-moral, non-emotional way, since the argument for a flat tax is that it's "fair" since everyone pays the same percentage and who are you to say how much money they can keep and they earned it. When people in lower income brackets have less money to spend, they have less money to spend on things that actually drive our economy. When rich people have less to spend, they gain less in compound interest. The difference there means everything. I never had any luck appealing to a flat-tax zealot's morality. They don't feel the same way most people do.
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Apr 27, 2014 15:58
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On Terra Firma posted:When people in lower income brackets have less money to spend, they have less money to spend on things that actually drive our economy. When rich people have less to spend, they gain less in compound interest. The difference there means everything. The best I could do the other day was saying something about proportions (which is dumb of me since proportions are pretty much another way to express percentages) and he didn't know wtf I was talking about, which is fine, because I wasn't making any sense anyway.
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Apr 27, 2014 16:00
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SedanChair posted:Yes, sociopaths are people. Do you believe every President is a sociopath? Every politician? Reducing people who don't agree with you into monstrous facsimilies of themselves is really hosed up regardless.
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Apr 27, 2014 16:01
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Dystram posted:The best I could do the other day was saying something about proportions (which is dumb of me since proportions are pretty much another way to express percentages) and he didn't know wtf I was talking about, which is fine, because I wasn't making any sense anyway. Try this:  Everyone pays exactly the same amount for the same amount of money, some people just have more money so they fall into higher divisions.
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Apr 27, 2014 16:04
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Dystram posted:The best I could do the other day was saying something about proportions (which is dumb of me since proportions are pretty much another way to express percentages) and he didn't know wtf I was talking about, which is fine, because I wasn't making any sense anyway. Also flat tax revenues would likely fall FAR short of current revenues, so you'd either have a huge rear end deficit or you'd have to cut social programs to the bone. Of course, option #2 is goal 1B of their plan, so your interlocutor would likely be in favor of that too.
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Apr 27, 2014 16:06
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Hieronymous Alloy posted:I'm having a Poe's Law moment here. I think it's awfully difficult to become a powerful politician without a marked disregard for human suffering.
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Apr 27, 2014 16:06
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