July 2012

Jason Zweig Gets Medieval on Capital Criminals

Would torturing or executing financial criminals do any good?  It might make some people feel better but that doesn’t mean it would be an effective tool.  The simple fact is that for as long as there’s been an economy, there’s been economic crime. Jason Zweig looks at human history and tries to gauge whether or…

Is Prop Trading Dead?

Is Prop Trading Dead? Or is it just the fact that most prop trading firms, as they are currently constituted (student pays to be taught, 1 in 20 kids graduates and becomes consistently profitable, traders are regulated by Finra as brokers, etc.), cannot survive without some evolutionary change? Have the algos finally finished their work,…

What if the Sell in May Crowd is Coming Back?

Mike Harris always seems to have a divergent, even controversial take on the market’s technicals these days.  This morning he doesn’t disappoint. Harris posits the fact that there are no real “rules” in the market, and that those who responded to one of the big almost-rules, Sell in May, may be headed back with their…

Higher Highs, Higher Lows

Pay attention because I’m about to teach you something very basic about the behavior of markets and market participants.  This will help you for the rest of your life. In my landmark post from the beginning of the month, Ten Reasons I Like Stocks for the Second Half, in the midst of a brutal 6-day…