If something is newsworthy, but nobody reports on it or talks about it, is it still “news?” We ask ourselves this question today, as earlier this morning; the CME tweeted about a power surge cutting off phone and internet service on the trading floor. If anyone had any doubts about floor trading versus electronic trading, this shows it’s really no contest these days.
In other futures industry news, remember the whole sequester debate? Just when you think that was in the past… it rears its ugly head. The CFTC is furloughing workers as much as two weeks due to sequester cuts. In the finance world, J.P Morgan made history this week for agreeing to pay $13 Billion over the bank’s mortgage-based securities during the 2008 financial collapse. We would comment on this, but Jon Stewart has a brilliant commentary on how the talking heads framed this case. Enjoy your weekend reads.
- A Nightmare on Wall Street – (The Daily Show)
- Sequester leaves CFTC workers facing two-week furloughs – (The Hill)
- 5 Big ETFs That Still Aren’t Back To Pre-Crisis Levels – (ETF Database)
- Protec: Hedging and speculating, a winning team – (Resource Investor)
- The Age of Bullshit Investments is Back! – (New York Magazine)
- Managed Futures Tipping Point? – (Hedge Fund Insight)
- What Indexes are at Market Highs? – (The Big Picture)
- CTAs get organized following AlphaMetrix MRA – (Futures Magazine)
- The oracles at CNBC: good stock advice doesn’t come from TV – (The Guardian)
- Systematic Trend-Following Managed Futures Funds, A basic review – (Opalesque)
Just for fun: