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Nybble posted:Matt Levine has half-seriously floated this a few times in his newsletter: open for 9:30-10, take a break, close from 3-4. thats because it makes sense for 99% of all retail investors. there is no reason for anyone to be looking at order-books during intraday trading. Cybernetic Vermin posted:weirder things have happened, i used to work on an exchange software product which had a mode for just doing successive auctions, adapting their length to the trading activity. so e.g. illiquid stuff got a couple of hour-long auctions a day (the length of the next auction based on the activity in the last), where stuff that was very active did millisecond-level auctions which pretty much appeared like continuous trading to humans. but as the idea then was that it would be more fair to participants with less sophisticated market access it wasn't very popular functionality. also it made the code very cumbersome. SEC has suggested this as well to try and stamp down on lovely payment for order flow deals market makers do with brokers.
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Mar 15, 2023 17:23
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i might be remembering it wrong, but i think its not just retail and the overwhelming majority of all trades happen at open and close.
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Mar 15, 2023 17:38
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alternatively return to tradition: only allow buying and selling from a crowded floor of peeps screaming and waving notepads gently caress it bring back fractional pricing too
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Mar 15, 2023 17:45
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abolish currency and money, return to livestock and crafted goods bartering.
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Mar 15, 2023 17:47
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post hole digger posted:i might be remembering it wrong, but i think its not just retail and the overwhelming majority of all trades happen at open and close. the bulk of the liquidity is in the open and close auctions - irrespective of the investor type
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Mar 15, 2023 17:51
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madmatt112 posted:abolish currency and money, return to livestock and crafted goods bartering. google ron paul
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Mar 15, 2023 17:54
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Cybernetic Vermin posted:citi (as my default standin for reasonably stable giant) has been having a nice series of +/-6% openings too citi is the largest bank to ever have gone insolvent
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Mar 15, 2023 18:24
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citi had to get several billion in "help" from the saudi sovereign wealth fund over a year before the 2008 crisis. they really should have been allowed to go out of business but wachovia/wamu melting down made the government decide no more big consumer banks were going away and they got bailed out
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Mar 15, 2023 18:28
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...a foreign entity buying a large chunk of a systemically important domestic bank seems like something that should be either not allowed or very, very closely watched
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Mar 15, 2023 18:30
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saudis have 9.8% of credit suisse, too generally in this case its westerners stealing the money back, basically
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Mar 15, 2023 18:31
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haveblue posted:...a foreign entity buying a large chunk of a systemically important domestic bank seems like something that should be either not allowed or very, very closely watched I have bad news for you about a lot of systemically important things my dude
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Mar 15, 2023 18:33
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Powerful Two-Hander posted:I have bad news for you about a lot of systemically important things my dude
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Mar 15, 2023 18:34
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a lot of what set off the japanese lost generation thingy was them buying a lot of overvalued crap during the drunken good times and refusing to accept that they got swindled by the western equities peeps. mainly their own real estate peeps and western real estate peeps but a lot of it was western equities peeps i dont really have anything to go against the thesis that the same happened to prc peeps this past few years bob dobbs is dead fucked around with this message at 18:38 on Mar 15, 2023 |
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Mar 15, 2023 18:36
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bob dobbs is dead posted:a lot of what set off the japanese lost generation thingy was them buying a lot of overvalued crap during the drunken good times and refusing to accept that they got swindled by the western equities pardners. mainly their own real estate pardners and western real estate pardners but a lot of it was western equities pardners agreed
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Mar 15, 2023 19:05
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doesnt uh the prc have a whole bunch of rules against foreign ownership of stuff
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Mar 15, 2023 19:16
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they dont have rules against prc peeps buying western poo poo and real estate both western and prc ruinously overpriced tho
bob dobbs is dead fucked around with this message at 19:19 on Mar 15, 2023 |
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Mar 15, 2023 19:17
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AnimeIsTrash posted:google ron paul his wife did that and look who’s in the senate now
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Mar 15, 2023 19:29
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Internaut! posted:drat what's it like posting from 1992
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Mar 15, 2023 21:01
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bob dobbs is dead posted:they dont have rules against prc peeps buying western poo poo and real estate both western and prc ruinously overpriced tho isnt the problem with china that the govt will not bail out stuff to protect the system as a whole, but only if the company needing a bailout is buddies with xi? because what are people who just lost their retirement savings going to do? travel across the company and show up in beijing to get clubbed to death by the riot police?
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Mar 15, 2023 22:39
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no, theyve done systemic bailouts too. no real love lost w evergrande and the natl govt
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Mar 15, 2023 22:42
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yeah and then they all get killed in white vans. truly a barbarous place
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Mar 15, 2023 22:42
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they dont let them in beijing, there is a brutally obscure special kind of semi-cop that plays interference and keeps provincial peeps complaining from getting to beijing in the first place
bob dobbs is dead fucked around with this message at 23:01 on Mar 15, 2023 |
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Mar 15, 2023 22:44
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EricBauman posted:isnt the problem with china that the govt will not bail out stuff to protect the system as a whole, but only if the company needing a bailout is buddies with xi? do you have any examples of the system collapsing under xi?
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Mar 16, 2023 00:24
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bob dobbs is dead posted:brutally obscure special kind of semi-cop that plays interference got any search terms? i wanna know more
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Mar 16, 2023 00:27
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heres an article https://www.reuters.com/article/us-...s-idUSKBN16931T
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Mar 16, 2023 00:30
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fart simpson posted:do you have any examples of the system collapsing under xi? yeah, underlying a lot of previous conversation has been that if you run things properly "how are we going to portion out our bailouts" doesn't have to become a question a whole lot.
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Mar 16, 2023 00:30
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fart simpson posted:do you have any examples of the system collapsing under xi? i wasn't talking about a collapse of the entire economy, but more about people being enticed/forced to invest in certain companies that then turn out to be three hedgehogs in a trench coat, causing old folks in certain industries or provinces to lose their entire retirement savings. i feel like those stories were fairly common a few years ago?
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Mar 16, 2023 00:33
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heres a long and boring scholarly article, with the anti-dudes as a footnote https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1548577 theyve been doing this poo poo for millennia, so the institutions to hide this poo poo from the central authorities are also millennia old like the chinese counterpart to those ridiculously old timey new england town hall dealios which are kept because peeps keep random governmental detritus for centuries and millennia bob dobbs is dead fucked around with this message at 00:36 on Mar 16, 2023 |
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Mar 16, 2023 00:34
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EricBauman posted:i wasn't talking about a collapse of the entire economy, but more about people being enticed/forced to invest in certain companies that then turn out to be three hedgehogs in a trench coat, causing old folks in certain industries or provinces to lose their entire retirement savings. i feel like those stories were fairly common a few years ago? ok well thats not really what bailouts to protect the system as a whole means though i think you're mostly talking about the henan bank crisis from about 2 years ago, where a bunch of regional banks failed after making speculative investments and a bunch of mostly old people stood to lose money? do you know what happened in the end of that? i mostly ask that question because i think this is one of the frustrating things with a pattern of reporting on china in the west. i can find a million articles from the beginning of that event, talking mostly about people protesting and a little about why the banks were failing, but i can't seem to find any english language articles about the resolution of the crisis or the aftermath, i can only find stuff in chinese. so i guess if you're reading english language news you're just going to remember that there were protests and you won't know anything else about the event really
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Mar 16, 2023 01:19
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assuming you are talking about that, what basically had happened was a bunch of rural banks in henan were doing speculative investments and offering investment products to local people, returning like 4-5% interest. this level of interest wasn't really sustainable and it came crashing down. deposits in chinese banks are insured up to ￥500,000 by the chinese equivalent of the fdic, but the problem here was that it wasnt clear if this stuff counted as "deposits" or "investment products", which arent insured. because they were actually investment products but the banks might have been essentially tricking old people into investing in them thinking they were high interest bank deposits. anyway in the end of it all, chinese regulators decided to basically act as if they were all deposits and insure all the account holders up to the ￥500,000 limit anyway, allow said banks to fail, and then disburse any remaining assets of the liquidated banks to any account holders who had more than ￥500,000 in there over the insurance limit e: all this happened in 2022, not 2 years ago. lol 2022 feels like 2-3 years ago fart simpson fucked around with this message at 01:32 on Mar 16, 2023 |
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Mar 16, 2023 01:28
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what the sketch wealth funds exist(ed) to do is to buy overpriced land or pretend to do other poo poo and actually buy overpriced land lol
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Mar 16, 2023 01:29
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fart simpson posted:i can find a million articles from the beginning of that event, talking mostly about people protesting and a little about why the banks were failing, but i can't seem to find any english language articles about the resolution of the crisis or the aftermath, i can only find stuff in chinese. so i guess if you're reading english language news you're just going to remember that there were protests and you won't know anything else about the event really yeah this is an incredibly frustrating characteristic of western news sources. initial events are usually covered well enough but theres almost no follow-through, particularly if any resolution doesn't fit the initial framing of course with china you almost always get some bullshit anti-communist bias too e: synonyms 
Beeftweeter fucked around with this message at 01:59 on Mar 16, 2023 |
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Mar 16, 2023 01:36
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i don't know if i'd call that a pun
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Mar 16, 2023 01:55
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yeah i edited it. that was more preemptive because i was eating
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Mar 16, 2023 01:59
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phrasing. we're doing phrasing
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Mar 16, 2023 02:07
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phrase or crane
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Mar 16, 2023 03:39
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bob dobbs is dead posted:they dont have rules against prc peeps buying western poo poo and real estate both western and prc ruinously overpriced tho IIRC the PRC has a cap on how much money citizens are allowed to take out of the country (like $20k or $14k or something), which in theory is way more money than any foreign real estate could be bought for. So it's a de facto rule against their peeps buying western real estate. In practice there are whole networks of money mules who will get the money out of the country, and banks in the US and Canada will more than happily facilitate this, despite it being basically money laundering. But it seems like the kind of thing the PRC could clamp down on if they actually cared?
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Mar 16, 2023 03:44
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it’s $50k per year per citizen
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Mar 16, 2023 03:45
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are there any chinese-language equivalents of 'fulano de tal'?
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Mar 16, 2023 04:13
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Fulano de Tal was a north-American latin rock band, formed in 1995 in Miami, Florida. The original band members were: Elsten Torres (Lead Vocals, Guitar, & Songwriter), Brendan Buckley (Drummer, programming, vocals), Julian Adam Zimmon (Guitars), and Leo Nobre (Bass guitar, Background vocals). John Michael Falcone (Bass guitar, Vocals) replaced Leo in 1996. Fulano de Tal recorded two full-length albums. The name of the band is the Portuguese/Spanish variant of the American term "John Doe". The first album was called Normal and it was released in April 1997 through BMG/RCA records. At the time, Fulano was the first north-American latin rock band to be signed to a major label.[citation needed] The band toured extensively throughout the United States and some Latin American countries during the years of 1997 and 1999. In 2000, the band released their sophomore effort, Etc. through the independent label: Radio Vox/DLN. It was also in 2000 that the band separated. Brendan and Julian joined pop/superstar Shakira as part of her touring band. Elsten Torres released the Grammy nominated album, Individual in 2006 under the name "Fulano", but it was his first solo album although both Brendan and Julian joined in the production and performance of the album.
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Mar 16, 2023 04:44
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