The investment..speculation, out right gambling thread

Parent Cafe
2841

<p>I am not saying there aren’t errors. I am sure there are minor errors every single day.</p>

<p>There were errors when everything was done by hand too.</p>

<p>There are always bugs, as you know.</p>

2842

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<p>A computer can make errors far faster than a person can.</p>

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<p>Yes, I’ve worked in software engineering for 27 years. This is why I’m not into programmatic trading.</p>

2843

<p>"Well…</p>

<p>I do work for a HFT firm."</p>

<p>Wow, you must really be able to type in those orders fast! I’m a really slow trader.</p>

2844

<p>Lol…</p>

<p>The Therac-25 story was very interesting.</p>

2845

<p>I just looked at some trades i made through my brokerage firm, and most were cleared thru Knight…</p>

2846

<p>Interesting.</p>

<p>The trade reports actually say cleared by Knight?</p>

<p>I am paperless now, but I don’t remember seeing the clearing firm mentioned on the ticket.</p>

2847

<p>Ok…Schwab self clears. Maybe that is why I never noticed who clears the trades.</p>

2848

<p>This market during these announcements are so predictable. Go short before they open their mouths and go long immediately afterwards and sell at the end of the day -such a game.</p>

2849

<p>Before Bernie Madoff was exposed, Madoff securities handled many of my trades via my brokerage firm</p>

2850

<p>Madoff securities handled your trades? </p>

<p>Wow…</p>

2851

<p>Actually that company was a seperate entity from his Ponzi scheme</p>

2852

<p>Knight’s biggest customers, including TD Ameritrade], the No. 1 U.S. retail brokerage by trading volume, Fidelity Investments, Vanguard, Scottrade, and Etrade have stopped routing orders through Knight. Smaller customers also were taking business elsewhere.</p>

<p>Doesn’t look promising</p>

2853

<p>So what happened to that madoff company?</p>

<p>[Knight’s</a> future in balance after trading disaster - Yahoo! Finance](<a href=“http://finance.yahoo.com/news/knights-future-balance-trading-disaster-005713715.html]Knight’s”>http://finance.yahoo.com/news/knights-future-balance-trading-disaster-005713715.html)</p>

<p>Knight was the number 1 market maker last year.</p>

<p>Firms are going to want that order flow. So, one question is…is that order flow leaving Knight for good? If not, firms are going to be interested in Knight.</p>

2854

<p>It was under the “umbrella” of Madoff Securities,but run as a seperate entity…</p>

<p><a href=“http://www.regulatorycompliance.com/newsletter/2009/June/pdfs/wsj_madoff_article.pdf[/url]”>http://www.regulatorycompliance.com/newsletter/2009/June/pdfs/wsj_madoff_article.pdf&lt;/a&gt;&lt;/p&gt;

2855

<p>Somebody on bloomberg this afternoon was recommending knight as a potential takeover candidate. Anybody have a good shopping list for tomorrow after the jobs report?</p>

2856

<p>Ok phillyfed, thanks for the link.</p>

2857

<p>A report from Gasparino says Knight is considering Bankruptcy, and come out the other side as a viable company…Virtu and Silver Lake are said to have no interest</p>

2858

<p>Virtu said no?</p>

<p>Hmmmmm…</p>

2859

<p>Here is the link</p>

<p>[Knight</a> CEO reportedly mulls bankruptcy reorg - MarketWatch](<a href=“http://www.marketwatch.com/story/knight-ceo-reportedly-mulls-bankruptcy-reorg-2012-08-02]Knight”>Knight CEO reportedly mulls bankruptcy reorg - MarketWatch)</p>

2860

<p>Hmmmmm…
WSJ says Virtu is interested.
Fox says Virtu is not interested.
Hmmmm…</p>

<p>Aren’t WSJ and Fox owned by the same company?</p>