After decades of responding to tips about fraud by writing notes on napkins and then throwing them away, the Securities and Exchange Commission finally got itself some computers and is excited to put them to use. Legitimate use. First up: figure out if maybe the computers are in fact the problem.
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secret sauce
SEC Is Going To Take Your High Frequency Trading Algorithm, Run It On A Commodore 64, See If It Crashes The Market
By Matt Levine
Confidence is like a secret sauce. It is hard to measure…so here’s what I would say to the American people in total. When you go to sleep at night think about the following before you get depressed and you see the market down 500 points: This nation is still the greatest nation on the planet. It was the first democracy on the planet. We have the best military. God bless all our veterans all around the world. Those who have served and those who are serving today. We have the best universities, best military, best rule of law, most innovation, the hardest working ethic of all. Those thing will be here for decades. They aren’t going away. The strength in the system will blow your socks off when it gets out of this malaise we’re in. [CNBC]
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Private Equity
TPG Co-Founder Jim Coulter Pulls The Curtain Back Ever So Slightly On Company’s Business Model: Boxes And Secret Sauce
By Bess Levin
It can get complicated, so he drew a diagram. Continue reading »