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7 April 2014

Linkfest: Dark pools and HFT; Oracle of Omaha less oracular; Small caps overpriced?

By Druce Vertes, CFA

Today’s most shared: Dark pools, which individuals can’t trade on, seen tilting the playing field more than HFT. Warren Buffett hasn’t had a great five years since the crisis. Are small caps overpriced? 40% of Americans couldn’t come up with … Read more

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4 April 2014

Linkfest: The industry politics of HFT; Bill Gross’s dead-cat bounce; China’s cash scarcity

By Druce Vertes, CFA

Today’s most shared: HFT debate: Institutions v. market-makers, dark markets vs. transparent ones. Schwab: HFT a ‘cancer.’ BATS CEO forced to correct misleading statements made on CNBC. Bill Gross looks for a dead cat bounce. Treasure your pets and all … Read more

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3 April 2014

Linkfest: How Ken Lewis got off; HFT trash talk; Banks flee businesses that risk capital, reputations

By Druce Vertes, CFA

Today’s most shared: How Ken Lewis, represented by ex-SEC chair White, got off after firing general counsel who warned of losses that needed disclosure. More HFT flash crash trash talk. Goldman exits NYSE marketmaking, JPMorgan exits commodities, Blythe Masters, innovator … Read more

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2 April 2014

Linkfest: Flash fight; Reminiscences of a Wall Street operator; Cash flows back to EM, ex China

By Druce Vertes, CFA

Today’s most shared: “You want to do this? Let’s do this!” HFT debate rages. Billy Salomon turns 100, reminisces about bygone, more human days. China bypassed as emerging market flows return. Stock market closes at record as US vehicle sales … Read more

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1 April 2014

Linkfest: HFT brouhaha; Pimco’s new guard; Tough March for some

By Druce Vertes, CFA

Today’s most shared: High frequency brouhaha gains steam as FBI investigates, trading wizards defend practices. Pimco’s Balls profiled. Hedge fund pity party as favorite trades unravel in March. Yellen courts Main Street with speech about troubles of unemployed, but cited … Read more

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31 March 2014

Linkfest: Michael Lewis says HFT means market is ‘rigged’; Profit margins; The top 0.01%

By Druce Vertes, CFA

Today’s most shared: Media frenzy over HFT as bestselling author Michael Lewis says market is ‘rigged.’ Profit margins – when foreign earnings are excluded, S&P margins look more sustainable. It’s not about the top 1%, it’s about the top 0.01%…Was … Read more

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28 March 2014

Linkfest: Citi loses sleep over stress; Bartiromo relaunches; Obama deficit drops below Reagan’s

By Druce Vertes, CFA

Today’s most shared: Citibank bankers, investors up in arms over stress tests. Maria Bartiromo launches on Fox, talks about what went wrong at CNBC. Federal deficit below Reagan deficits as percentage of GDP, as corporate profits rise to record. Cue … Read more

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27 March 2014

Linkfest: Stress tests; Investing is hard; Janet Yellen is not your mommy

By Druce Vertes, CFA

Today’s most shared: Citi capital plan fails to pass muster; BoA settles GSE lawsuits, Ken Lewis must pay $10m; Changing bank culture Value investing only works because it’s hard. Top charts on inequality via Piketty; Takers at the bottom and … Read more

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26 March 2014

Linkfest: ECB reaffirms ‘whatever it takes’; The subsidy to TBTF banks; Another quick, giant tech exit

By Druce Vertes, CFA

Today’s most shared: ECB opens door to unconventional monetary policy to fight deflation. New York Fed researchers look at the issues of too-big-to-fail banks, including the value of the implicit government backstop. Another giant tech windfall as maker of virtual … Read more

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25 March 2014

Linkfest: Earnings sustainability holds key to valuation debate; CLOs and CDOs rebound; Coke’s comp under fire

By Druce Vertes, CFA

Today’s most shared: Whether the market is overvalued always comes back to whether profits are sustainable or will revert to the mean. CLOs and CDOs make a comeback, and the SEC investigates whether they are used as a gimmick to … Read more

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All posts are the opinion of the author. As such, it should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute or the author’s employer.

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