Someone on the Twitterverse brought up very good questions about the nature of our Markets. If you don’t know, there’s a company that holds onto the direct ownership of almost all of the shares that get traded around between many market participants as a sort of nominated Custodian by the Depository Trust Company. This company… Read More A critique on Stock Market Settlement
I’m talking about the Movie “The Other Guys” (2010), you know, the movie that has two second-rate schmucks fumble fuck their way through a large financial scandal in a comedyesque adventure after the main all-stars find the exit? Yea, here’s some comedic spoilers from the beginning; in case you haven’t seen the movie; Point is,… Read More The Other Guys is Financial Comedy Gold
Here’s a transcript of a video interview of CNBC and Virtu Financial CEO in mid 2022, Transcript provided by the internet of stuff; Douglas A. Cifu (Virtu Financial CEO): Fundamentally at Virtu to and every market participant says we welcome competition. We’re not anti-lit exchanges and today indeed broker dealers, retail broker dealers are free… Read More Virtu Financial CEO talks about the Liquidity Fairy
“In the aftermath of the 2008 financial crisis, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) enhanced the CFTC’s regulatory authority to oversee the more than $400 trillion swaps market.” -CFTC It sure sounds good. Sure sounds like they care, right? Here’s a definition of the word ‘Sham’ so that… Read More Dodd Frank Act of 2010 was a sham, FDIC is a scam
WeBull reminds us, that brokers are not your friend. So WeBull, a brokerage, updated their services a few days ago as of 12/11/2022; In it, WeBull has partnered with their Clearing, Apex, to put shares in an omnibus account. Yea, if you know anything about omnibus or the DTCC net settlement systems, then you’ll know… Read More A blurb about Omni Bus Arrangements
This is an excerpt from a really glorious article that details the intricacies of Corporate Governance with regards to voting. You know, this article; I mean, besides the idea of voting via proxy being inherently sketchy, we’ve found ways to make the financial shell game ‘seem’ more fair. Again, this is just a small piece… Read More Beneficial Owners don’t really have a proxy vote
So, eToro did some faux paus in the Russian Stock Controversy in which eToro forced their clients into trades and closed positions. Later, eToro refunded the wronged clients, gave a shitty apology, and then said a bold statement in which they will do it again. Some Twitter user, actually read their terms and agreement, and… Read More eToro may lend their clients securities
Imagine it, the main stream media with avid investors use the term ‘meme stock’ as if it’s an industry standard. Many of which joke and dismiss the core character concepts and fundamentals of the company itself, let alone their balance sheets. So when a media person or news publisher has an article or a piece… Read More The term ‘Meme stocks’ are derogatory market manipulation
Brokers are in the business of making money, like most businesses, that means that if they can make money off of you, then they will. Things like Payment for Order flow and selling your trade data to create a composite man psychological profile exists. These result in a lumping and a basket of similar ‘like-minded’… Read More A ToS reminder that Brokers aren’t your friends
Hot water and thin ice, that’s double whammy for you. GME, the GameStop Saga is still in progress. The revolution will not be televised. But the big takeaway is the GameStop issued a Stock splividend that the DTCC fucked up massively. The DTCC being the Depository Trust & Clearing Corporation that is a private company… Read More The DTCC is in hot water and on thin ice; GME