More Hot Links for Weekend Reading… JPMorgan‘s head of algorithmic trading calls high frequency program trading a form of parasitic market making…omg. (ZeroHedge) Everything you ever wanted to know about Sheila Bair but forgot you cared enough to ask. (The New Yorker) David Merkel on his current asset allocation strategy and some thoughts on where…
Reuters
Capital Window Opens for Non-Banks, Too
Now that the rally has lasted way longer than most thought it could, the Capital Window has opened wide. Last week the secondary offering parade began, on the heels of the stress test results. Market commentators have mentioned the fact that new stock is being sold almost indiscriminately by the bankers and syndicates and that issues are…
This Just In: Wells Fargo Secondary Announced
Reuters just reported: 1869 RAS 08:12 WELLS FARGO & CO ISSUE TO RAISE $7.5 BLN- SOURCE =A3 1868 RAS 08:10 WELLS FARGO & CO TO SELL 341 MLN SHARES- SOURCE =A2 1867 RAS 08:10 WELLS FARGO & CO WFC PRICES STOCK ISSUE AT $22 PER SHARE Where did we hear that first? Oh, yeah…Doug Kass’s…
German Sex Bailout
German whores need stimulus, too. I know, I know…too provocative an opening sentence. I learned that from Rupert, you’re lucky that wasn’t the title. From Reuters: In Germany…one of the few countries where prostitution is legal, and unusually transparent, the industry has responded with an economic stimulus package of its own: modern marketing tools, rebates…
Coming Soon: The Uptick Rule
The word today is that The Uptick Rule, the best line of defense we haven’t had in place for the last year, may be making a comeback. Rep. Barney Frank (D-Mass.), the head of the House Financial Services committee, said that the SEC should restore the so-called “uptick” rule within a month, Reuters is reporting….
