In just the past few years, the equity markets have been transformed into a high-speed casino that’s a pure crapshoot: a white-knuckle rollercoaster ride that has left individual investors legitimately terrified of equities. The Flash Crash of May 6, 2010–when the DJIA plummeted 734 points in 17 minutes, and dozens of top companies traded as low as zero–was just a harbinger of disasters to come. In Crap Shoot Investing, Barron’s Washington Editor Jim McTague reveals the twin causes of this massive transformation: high-frequency traders using mathematical hocus pocus, and blundering regulators whose attempts to promote long-term investment have massively backfired. McTague takes you through the Flash Crash moment by moment, revealing what happened and how it happened. Next, he burrows “under the volcano” to uncover the titanic, uncontrolled forces now at work in equity markets, showing investors exactly what they’re jumping into when they buy and sell stock today. You’ll learn how new exchanges, desperate for cash, are attracting high-frequency traders at everyone else’s expense... how “dark pools” of hidden trades are tilting the playing field...how even small investors are promoting dangerous volatility. McTague explains why regulators continue to ignore the big picture as the markets accelerate towards chaos. Last but not least, he presents a rational strategy for investors who need to get ahead in markets that have become riskier than most casinos. "A valuable read for anyone considering investing in equity markets." Reprinted with permission from CHOICE http://www.cro2.org, copyright by the American Library Association.
This Element is an excerpt from Crapshoot Investing: How Tech Savvy Traders and Clueless Regulators Turned the Stock Market into a Casino (9780132599689) by Jim McTague. Available in print and digital formats. How the nerds took over Wall Street–and how their high-frequency, computer-driven trading impacts your portfolio. How did graduates from physics and math departments of top graduate schools end up swarming Wall Street? It was an unanticipated consequence of new SEC regulations intended to encourage electronic exchanges. The sudden fragmentation of the market resulted in unexpected complexity which, in turn, led to fleeting pricing discrepancies among trading venues. The nerds saw ways to exploit these inefficiencies.
This Element is an excerpt from Crapshoot Investing: How Tech Savvy Traders and Clueless Regulators Turned the Stock Market into a Casino (9780132599689) by Jim McTague. Available in print and digital formats. The revolutionary change in the stock markets that you didn’t notice–and the profound impact it will have on your investments. A revolution inexorably altered the American stock market beginning in 2007; but outside the industry, few realized it had occurred. As late as 2010, the average investor still believed that the stock market was dominated by two major exchanges: NYSE and NASDAQ. In fact, it had expanded to more than a dozen registered equity exchanges and more than 200 other stock-trading venues. . . .
In the South Side, there lived a tactless TV guy who had a way of getting tossed out of everything on camera, from the old VP Fair to Bill Clinton’s 1996 local re-election victory party. On the South Side, there dwelt a collector of ancient vacuum cleaners, none of which worked when he demonstrated them before millions of guffawing viewers watching on national television. And on the South Side, a beer baron tried to fight off Prohibition with a high-class, three-sided beer hall. It’s all in the second edition of Hoosiers and Scrubby Dutch: St. Louis’s South Side. The first edition captured the essence of the South St. Louis, with its tales of women scrubbing steps ever Saturday, the yummy brain sandwich, and a nationally known gospel performer who ran a furniture store in the Cherokee neighborhood. These stories, along with the new ones that fill the second edition, convey what gives a truly unique place its rough but charming personality. The result—Holy Hoosiers!—is an edition that’s even better than the first!
The three Conley boys, Jack, Jim and Frank were sons of an Irish immigrant family, raised along the banks of the Susquehanna River in Maryland. After the death of their father when Frank was but 18 months old, the family relocated to Carroll, Iowa. During the same time, the newspapers were filled with stories of the U.S. Army and their campaigns against the combined native tribes in Montana and the Dakota Territories. The exciting and dangerous stories which celebrated the lives of those involved, was a call to action for all three boys. Montana Territory in the 1870’s and 80’s was a hostile environment where road agents, horse thieves and “bad men” infested the roads and towns alike. Native tribes were at war with settlers attempting to encroach on their lands, and the advent of the railroad brought a new species of troublemakers to towns along the Northern Pacific route. Other than a rare visit from one of the few U.S. Marshals assigned to the territory; the presence of lawmen was scarce. An unusual responsibility fell upon the few, fearless officers whose mission it was to enforce the law and maintain order, largely upon the force of their own edicts. The job of anyone with a badge, was filled with danger. A lone officer who would attempt to track down a criminal within the huge expanse of the territory, was a fearless man indeed. There were many desperate men who thought little of killing anyone out to bring them to justice. The more efficient and fearless an officer was, the more challenging and dangerous was the job. Legendary lawman Tom Irvine became the first elected sheriff of Custer County which included the town of Miles City. Irvine was the right man for the thriving and wild town, but the awesome and dangerous job of sheriff required deputies with experience, tested courage, and the confidence to handle whatever problem that came their way. Prior to his election as sheriff, Irvine worked alongside Jim and Jack Conley when they served as packers and guides for General Nelson Miles during the Indian wars. Irvine knew of Jack and Jim Conley's capabilities and was successful in recruiting both as his first deputies. Seventeen-year-old Frank had just arrived in Miles City and had always dreamed of working with his brothers, so he approached Irvine for a job. Irvine hesitated as he could not recall a deputy as young as Frank in the territory or any of the surrounding territories. But then again, there had never been brothers quite like the Conley boys. Frank was well over six foot at the time, had broad shoulders, a trim waist, powerful build, a mature manner, and appearance. All three of the brothers, especially Jim, were known as expert marksmen with the pistol, rifle, and shotgun. Jim assured Irvine he would vouch for Frank and be there if needed, to look out for him. Irvine trusted Jim’s judgement, “If Frank is half the man, you and Jack are, Jim, I believe he would make an excellent lawman. Besides, there is only one way to find out.” Sheriff Irvine was not disappointed, nor were the other lawmen and communities the Conley boys served over the next forty years. Jack and Jim both became effective and respected Sheriff's, stock detectives and U.S. Deputy Marshals. Young Frank became one of the longest serving Prison Wardens and city mayors in the United States. This is a story based upon real events, characters, and the lives of three remarkable brothers and lawmen: Jack, Jim and Frank, The Conley boys of Montana.
The Java Enterprise APIs are building blocks for creating enterprise-wide distributed applications in Java. "Java Enterprise in a Nutshell" covers the RMI, Java IDL, JDBC, JNDI, Java Servlet, and Enterprise JavaBeans APIs, with a fast-paced tutorial and compact reference material on each technology.
In just the past few years, the equity markets have been transformed into a high-speed casino that’s a pure crapshoot: a white-knuckle rollercoaster ride that has left individual investors legitimately terrified of equities. The Flash Crash of May 6, 2010–when the DJIA plummeted 734 points in 17 minutes, and dozens of top companies traded as low as zero–was just a harbinger of disasters to come. In Crap Shoot Investing, Barron’s Washington Editor Jim McTague reveals the twin causes of this massive transformation: high-frequency traders using mathematical hocus pocus, and blundering regulators whose attempts to promote long-term investment have massively backfired. McTague takes you through the Flash Crash moment by moment, revealing what happened and how it happened. Next, he burrows “under the volcano” to uncover the titanic, uncontrolled forces now at work in equity markets, showing investors exactly what they’re jumping into when they buy and sell stock today. You’ll learn how new exchanges, desperate for cash, are attracting high-frequency traders at everyone else’s expense... how “dark pools” of hidden trades are tilting the playing field...how even small investors are promoting dangerous volatility. McTague explains why regulators continue to ignore the big picture as the markets accelerate towards chaos. Last but not least, he presents a rational strategy for investors who need to get ahead in markets that have become riskier than most casinos. "A valuable read for anyone considering investing in equity markets." Reprinted with permission from CHOICE http://www.cro2.org, copyright by the American Library Association.
Understanding Business Global Edition by Nickels, McHugh, and McHugh has been the number one textbook in the introduction to business market for several editions for three reasons: (1) The commitment and dedication of an author team that teaches this course and believes in the importance and power of this learning experience, (2) we listen to our customers, and (3) the quality of our supplements package. We consistently look to the experts – full-time faculty members, adjunct instructors, and of course students – to drive the decisions we make about the text itself and the ancillary package. Through focus groups, symposia, as well as extensive reviewing of both text and key ancillaries, we have heard the stories of more than 600 professors and their insights and experiences are evident on every page of the revision and in every supplement. As teachers of the course and users of their own materials, the author team is dedicated to the principles of excellence in business education. From providing the richest most current topical coverage to using dynamic pedagogy that puts students in touch with today’s real business issues, to creating groundbreaking and market-defining ancillary items for professors and students alike, Understanding Business leads the way.
Containing the most extensive listing of movies available on video and a multitude of cross-referencing within its 10 primary indexes, this new edition includes 1,000 new movies (23,000 in all), expanded indexing, a fresh new introduction and more of the beloved categories.
This Element is an excerpt from Crapshoot Investing: How Tech Savvy Traders and Clueless Regulators Turned the Stock Market into a Casino (9780132599689) by Jim McTague. Available in print and digital formats. How the nerds took over Wall Street–and how their high-frequency, computer-driven trading impacts your portfolio. How did graduates from physics and math departments of top graduate schools end up swarming Wall Street? It was an unanticipated consequence of new SEC regulations intended to encourage electronic exchanges. The sudden fragmentation of the market resulted in unexpected complexity which, in turn, led to fleeting pricing discrepancies among trading venues. The nerds saw ways to exploit these inefficiencies.
This Element is an excerpt from Crapshoot Investing: How Tech Savvy Traders and Clueless Regulators Turned the Stock Market into a Casino (9780132599689) by Jim McTague. Available in print and digital formats. The revolutionary change in the stock markets that you didn’t notice–and the profound impact it will have on your investments. A revolution inexorably altered the American stock market beginning in 2007; but outside the industry, few realized it had occurred. As late as 2010, the average investor still believed that the stock market was dominated by two major exchanges: NYSE and NASDAQ. In fact, it had expanded to more than a dozen registered equity exchanges and more than 200 other stock-trading venues. . . .
Catalogue accompanying the exhibition JIM HODGES held at the Frances Young Tang Teaching Museum and Art Gallery at Skidmore College, Saratoga Springs, New York, June 21 - August 31, 2003; the Austin Museum of Art, February 21 - May 23, 2004; the Weatherspoon Art Museum, the University of North Carolina at Greensboro, August 8 - October 24, 2004; and the Museum of Contemporary Art, Cleveland, January 27 - May 1, 2005.Includes a dialogue with Jim Hodges conducted by Ian Berry and essays by Ron Platt and Allan Schwartzman.
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