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TAX TRADES


By tovarichpeter   Follow   Sat, 1 Dec 2012, 9:40am PST   324 views   4 comments   Watch (0)   Share   Quote   Permalink   Like   Dislike  

http://www.washingtonpost.com/opinions/ralph-nader-why-a-tax-on-stock-trades-should-be-part-of-a-fiscal-cliff-deal/2012/11/30/d6a1285e-3a38-11e2-8a97-363b0f9a0ab3_story.html?hpid=z1

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Peter P   befriend   ignore   Sat, 1 Dec 2012, 9:58am PST   Share   Quote   Like   Dislike     Comment 1

Bullshit.

mell   befriend   ignore   Sat, 1 Dec 2012, 10:07am PST   Share   Quote   Like   Dislike     Comment 2

Yeah the way it stands it's bs. They could have though a very small fractional transaction tax so that HFT pay their share instead of illegally front-running the rest. Also every bid and ask has to stand long enough so that a non-HFT algo or human can act on it.

Peter P   befriend   ignore   Sat, 1 Dec 2012, 10:12am PST   Share   Quote   Like   Dislike     Comment 3

mell says

Yeah the way it stands it's bs. They could have though a very small fractional transaction tax so that HFT pay their share instead of illegally front-running the rest. Also every bid and ask has to stand long enough so that a non-HFT algo or human can act on it.

I am still against any form of transaction tax.

However, making every bid and ask stand for at least 1 second can make the market better over time.

But HFT is not sustainable anyway. The algorithms may collapse on its own. Perhaps nothing needs to be done. The only worrisome thing is the potential bailout by the taxpayers...

Peter P   befriend   ignore   Sat, 1 Dec 2012, 10:16am PST   Share   Quote   Like   Dislike     Comment 4

Black swans are showing up at higher frequencies (no pun intended) not only because of HFT. Things that happening faster simply because of networking technologies. Can we blame it on Al Gore?

I think we must learn to profit from black swan events.

http://www.amazon.com/Antifragile-Things-That-Gain-Disorder/dp/1400067820/ref=la_B000APVZ7W_1_1?ie=UTF8&qid=1354413720&sr=1-1

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