ETFs vs. Mutual Funds

ETFs vs. Mutual Funds

By The Banker | Blog Posts, How Not To Invest, Investing, Texas

Mutual funds and exchange traded funds (ETFs) do pretty much the same thing, which is allow an investor, with a single purchase, to own a diverse pool of assets – usually stocks or bonds, but also sometimes commodities, currencies, futures, bank loans or other financial exotics. Since they mostly do the same thing, the most [&hellip

Book Review: The Clash of Generations by Scott Burns and Laurence Kotlikoff

Book Review: The Clash of Generations by Scott Burns and Laurence Kotlikoff

By The Banker | Book Reviews, Taxes, Wall Street

Scott Burns and Laurence J. Kotlikoff wrote The Clash of Generations: Saving Ourselves, Our Kids, and Our Economy, thought-provoking and highly readable financial policy book in 2012, featuring four “purple” policy proposals – “purple” meaning meant to appeal to both red and blue sides of the American political spectrum. In the context of a 2016 Presidential contest [&hellip

HFTs - A Force For Good?

HFTs – A Force For Good?

By The Banker | Texas

I wrote last week that contrary to popular perceptions I believe high speed electronic trading firms are morally neutral, and that’s ok. In Dungeons and Dragons (D&D) terms I hope they are “True Neutral,” while critics claim they are “Chaotic Evil” and supporters claim “Lawful Good.” The existence of a few billion dollars in trading [&hellip

Audio Interview - Peter Kovac on High Frequency Trading - Market Making, Profits, Front-Running

Audio Interview – Peter Kovac on High Frequency Trading – Market Making, Profits, Front-Running

By The Banker | Audio Posts, Wall Street

I recommend listening to the audio version of this interview…It’s the best part!   Michael:          Hi, my name is Michael, and I used to be a hedge fund manager. Peter:              My name is Peter Kovac, and I’m the author of Flash Boys: Not So Fast. Michael:          Flash Boys: Not So Fast came out recently on [&hellip

High Speed Trading - And DandD Alignments

High Speed Trading – And DandD Alignments

By The Banker | Blog Posts, Investing, Texas, Wall Street

I’m trying to figure out where electronic and high frequency trading firms fit with respect to Alignment, and how I feel about that. Alignment I mean “Alignment” the way a Dungeons and Dragons (D&D) player means it (full disclosure: I’m a Lawful Good Half-Elf Bard in real life. I mean, in the game. I mean, [&hellip