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TAX TRADES

By tovarichpeter   2012 Dec 1, 9:40am   ↑ like   ↓ dislike   558 views   4 comments   watch (0)   share   quote  

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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1   Peter P   2012 Dec 1, 9:58am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

Bullshit.

2   mell (23/23 = 100% civil)   2012 Dec 1, 10:07am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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.

3   Peter P   2012 Dec 1, 10:12am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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...

4   Peter P   2012 Dec 1, 10:16am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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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