In Which I Praise An Outgoing Texas Politician

In Which I Praise An Outgoing Texas Politician

By The Banker | Blog Posts, Texas

Editor’s Note: A version of this post appeared in the San Antonio Express News.  In Praise of Susan Combs As we elect a new crop of public officials in Texas this week let’s take a moment to appreciate an outgoing official, Susan Combs, Texas Comptroller of Public Accounts. As Comptroller, Combs served as a combination [&hellip

Guest Post - Annuities Are Expensive

Guest Post – Annuities Are Expensive

By Lars Kroijer | Blog Posts, How Not To Invest, Insurance, Investing, Personal Finance

Annuities are an important and sometimes dominant part of the investment portfolio for millions of savers.  While in certain instances there is a requirement for pension scheme participants that they put a part of their pension savings into an annuity, others decide to have them because they find great comfort from having a secured cash [&hellip

Would You Like To Understand High Frequency Trading?

Would You Like To Understand High Frequency Trading?

By The Banker | Blog Posts, Book Reviews, Wall Street

My friend Pete Kovac got so peeved about Michael Lewis’ Flash Boys that he wrote a response, in the form of a book, called Flash Boys Not So Fast – An Insider’s Perspective On High Frequency Trading. The highly unusual part about this book is that high frequency trading up until now has basically been [&hellip

Excerpt From Critique of Michael Lewis' Flash Boys

Excerpt From Critique of Michael Lewis’ Flash Boys

By The Banker | Blog Posts, Book Reviews, Wall Street

Pete Kovac, a friend who worked for a quantitative trading firm, got in touch with me soon after Michael Lewis’s Flash Boys came out last Spring to let me know he thought the book had serious errors. My friend became so alarmed at the Michael Lewis version of quant trading – which appears to have [&hellip

Political Markets: Democrats' Chances Of Holding The Senate Just Doubled

Political Markets: Democrats’ Chances Of Holding The Senate Just Doubled

By The Banker | Blog Posts

I generally trust markets when it comes to political forecasting, which is why I dabbled in trading contracts on the Iowa Political Markets in both 2008 and 2012. I’d rather trust in people’s actual money-on-the-line to indicate an aggregated belief in who will win an election, rather than your average poll – or worse – [&hellip