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rffrydr
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 Posted: Tue Feb 08, 2011 10:10 am Post subject: |
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Starting to chip away at the YOY madness that drives this market of ours: here with the bank bonuses:
| Quote: | | The Federal Deposit Insurance Corp.'s five-member board unanimously approved a draft rule, written jointly with six other regulators, that would require large financial firms to hold on to at least half of top executives' bonuses for three years or longer. The aim is to tie the final payments to the outcomes of the employees' trades and other decisions over time. |
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rffrydr
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| Posted: Wed Dec 08, 2010 9:33 am Post subject: |
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Remember those bygone days when our day was decided in the last 15 minutes? Looks like we've been quietly reformed. Any stories on this?
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rffrydr
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rffrydr
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rffrydr
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| Posted: Sat Oct 09, 2010 7:56 am Post subject: |
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Stock recommendations
Published: October 8 2010 09:42 | Last updated: October 8 2010 20:42
| Quote: | Buy? Sell? When in doubt, do nothing. Wherever you look – the US, the UK, Germany, Hong Kong or Japan – the proportion of “holds” among analysts’ stock recommendations has never been higher.
Analysts’ propensity to pump up equities has been on a steady decline since the Spitzer crackdown on Wall Street research eight years ago; in the US that year, 60 per cent of all recommendations were “buys”, according to Bloomberg data. But in recent years, there has been a global bull market sitting on the fence. In August 2007, generally reckoned to mark the end of the Great Complacency, the average share of “holds” across those five markets was 39 per cent. Now it is 60. |
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rffrydr
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| Posted: Tue Sep 07, 2010 9:17 am Post subject: |
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You gotta luv this HedgeFund whipped-up mini-panic over german bank capital: State money, yes, real actual, non-fickle capital is not to be counted as capital because it is not tied to risk. So the Germans are willing to roll it into a co-co like structure and will be given 15-plus years to do it! We're dooooomed!
http://money.uk.msn.com/news/articles.aspx?cp-documentid=154568800
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rffrydr
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| Posted: Mon Jul 26, 2010 3:45 pm Post subject: |
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Don't know how much peripheral hedge-funds are tied to this but somebody's taking this unexpected fallout from property hit:
Timothy Collins
Dodd-Frank impact on Alternative Investments
7/26/2010 3:41 PM EDT
| Quote: | The Dodd-Frank Wall Street Reform and Consumer Protection Act changes the definition of an Accredited Investor (under Regulation D) so an individual's net worth (or joint net worth with spouse) must now be calculated exclusive of the value of the person's primary residence. I know from my days in the B/D world, this will impact many advisors use of non-publicly traded REITs, private placement, hedge funds, and other alternative strategies. I am sure there will be some individuals who considered themselves qualified to invest in hedge funds, but will now fall short of qualification.
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rffrydr
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rffrydr
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| Posted: Sat Jul 17, 2010 7:57 am Post subject: |
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Slaughter the pig? Yes.
America's piggybank is also much of the world's (not russia yet). Is it also all too much?
| Quote: | | In 1984, I bought my London house. I estimate that the land on which it sits was worth £100,000 in today's prices. Today, the value is perhaps ten times as great. All of that vast increment is the fruit of no effort of mine. It is the reward of owning a location that the efforts of others made valuable, reinforced by a restrictive planning regime and generous tax treatment – property taxes are low and gains tax-free. |
http://m.ft.com/cms/s/0/8f06df9e-8ac1-11df-8e17-00144feab49a.html?catid=143&SID=google
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rffrydr
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rffrydr
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rffrydr
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| Posted: Fri Jun 25, 2010 8:17 am Post subject: |
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Ta Da! It's here.
http://www.americanbanker.com/issues/175_121/reg-reform-1021404-1.html
How could we rally on this? It'd be sending the wrong message. There's probably more to be gained here than the market is willing to give credit. No more private exchanges for instance will beget more trading and more liquid trading. --One of the bigger abuses this last decade.
Transition periods will give the Street hope for change....of Administration.
Next up: Basel III and Fannie/Freddie cleanup.
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rffrydr
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rffrydr
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| Posted: Thu Jun 10, 2010 10:01 am Post subject: |
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Glenn Williams
Fascinating Battle Between EPA and a Utility
6/10/2010 10:30 AM EDT
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Minneapolis-based Xcel Energy Inc. (NYSE: XEL) is being sued by the EPA for doing nothing. EPA wants to penalize XEL up to $75,000 per day according to the U.S. attorney's office.
What is the horrible thing that XEL is doing? Planning. They are planning changes to their pollution control equipment planned for its coal-fired power plants in Burnsville and Becker, MN. They have not changed anything.
The EPA simply wants to know if any planned changes would result in plant emissions that violate the federal Clean Air Act. They are suing to find out.
Xcel is refusing to provide the information because it believes the EPA is exceeding its authority. "EPA's request for future project information is incredibly burdensome, would be a significant drain on company resources, and provides for no environmental benefit. There is no environmental issue at stake in this dispute," "EPA's request for future project information is incredibly burdensome, would be a significant drain on company resources, and provides for no environmental benefit. There is no environmental issue at stake in this dispute," Xcel said in a statement Tuesday. Xcel told the EPA in a letter in August that the agency was exceeding its authority because the Clean Air Act only allows the EPA to investigate whether the utility is currently violating the law, not whether any future acts would result in violations.
The U.S. attorney's office, arguing for the EPA, called that "a cramped
reading" of the law. |
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rffrydr
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| Posted: Thu Jun 10, 2010 9:57 am Post subject: |
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Doug Kass
Three Rules for More Orderly Markets
6/10/2010 11:16 AM EDT
| Quote: | Once again, based on my contacts with the sell-side institutional trading community, high-frequency traders, catching a slight break in price momentum in the averages, ran rampant in the last 45 minutes of trading yesterday.
One cannot overstate the erosion in investors' confidence (both of individuals and institutions) that these programs are causing on a regular basis. In part, the existence of these programs explains why 22 of the last 30 trading days have recorded triple-digit DJIA moves.
Over the past month, I have frequently written about the deleterious impact of high-frequency strategies on the markets.
Many subscribers have asked me to recommend how regulatory authorities can remedy high-frequency trading's impact on the markets.
So, here are three basic rules that I would immediately implement for the purpose of halting the outsized impact of momentum-based high-frequency strategies that occur in the vacuum of hedge fund de-risking and in the absence of retail domestic equity inflows:
Institute a transaction tax exclusively devoted to high-frequency trading strategies. While I hate this idea, it would immediately and dramatically increase the costs to high-frequency traders and reduce the incentives and edge of many price-momentum strategies).
Bring back the uptick rule for shorting. This short-sale rule was eliminated in July 2007 -- its original purpose was to prevent traders from being able to force prices downward. Bring it back!
Disallow the ability of high-frequency traders to see order flow and to discover stop levels. |
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