High Frequency Trading: Harmful Or Helpful? [View article]
Nice read. I personally don't feel very affected by HFT. I DRIP a few names and trade about 1-2 per month. I do hear from some that the time a retail trader is vulnerable to HFT is the first and last 15 minutes of the trading day. Is this the case?
That QE taper may end up being a QE expansion as FRBNY President Bill Dudley tells a gathering in Japan the uncertain economic outlook has him unsure if the next move will be up or down. He worries about investor over-reaction to a "normalization" of policy and suggests the FOMC may need to update what it needs to see to move in that direction. Stocks like the "up" talk, the S&P 500 (SPY +0.4%) at a fresh session high. [View news story]
As leaked earlier, Jamie Dimon will keep both jobs at JPMorgan (JPM +2.1%) as the vote to separate the Chairman and CEO roles receives only about 32% support (got 40% last year). Additionally, all board members are re-elected, including risk-committee member Ellen Futter, who got 53.1% of the vote. [View news story]
Yahoo (YHOO) is in "serious talks" to buy social blogging service Tumblr for as much as $1B, multiple sources tell AdWeek. Kara Swisher also reports talks are happening, but is more circumspect, stating they could result in a partnership, investment, acquisition, or nothing at all. Tumblr, which claims 100M+ blogs and (as of Nov.) ~170M monthly visitors (up over 3x from Jan.), would give Yahoo a big source of user-generated content to integrate and monetize, and would strengthen its mobile presence. It would also (as Swisher notes) mesh with Yahoo's efforts to win back younger Web users. [View news story]
Knocking stocks for a few points is San Francisco Fed President Williams reiterating his hope QE can begin to be tapered this summer and halted by year's end. This is not the first time Williams has said such, but he does reside in the FOMC's dovish camp. He notes even without QE, Fed policy would remain extraordinarily stimulative. [View news story]
JPMorgan - Why I'm All In With Jamie Dimon [View article]
People are jealous of Dimon. JPM pretty much sailed through the crisis and no one critical of Dimon could fill his shoes for 5 minutes. If you don't like Dimon you're not a shareholder. If you ARE a shareholder you like Dimon. He's a winner get over it.
I like the TSLA story but, I'm not sold on it for other reasons.
The TSLA performance model S bumps up in price against the BMW M5 which is a beast and the upcoming 2014 Maserati Quattroporte V6 (with a Ferrari built engine that has an optional V8 engine that goes from 0-60 in UNDER 5 seconds) which will be a rocket ship that will blow away the model S in styling and performance.
The "X-factor" will be the Model X IMHO. I think it has general appeal and the Mercedes-like "Falcon doors" are a cool feature geeks will like.
Where I golf there are some guys bought the model S because it was something different. After a couple of conversations some of them are already looking to sell them as the "first to own" factor is now over a year old.
Lastly, it seems the eco-snobs and the Hollywood (I'm green when I'm not in my limousine") types have already bought them. I don't see many more buyers for the model S to be honest. Plus, the Model X looks a little too modest for the high end.
But, this is in So. Cal (TSLA's backyard) so your mileage may vary ;-)
That was fast: Microsoft (MSFT) announces Office division CFO Amy Hood will be the company's new CFO, replacing Peter Klein immediately. Klein will leave Microsoft at the end of June (the end of Microsoft's FY13). Microsoft might have decided to speed up its announcement in response to today's Bloomberg report. [View news story]
Banks eased lending standards in April and also experienced stronger demand across several loan categories, according to the Fed's Senior Loan Officer Survey. The biggest improvement is in business loans, with the household side more mixed - just prime loans seeing easier standards and greater demand. [View news story]
Worst Jobs Report Since April 2009? [View article]
Thank you for this article, Jason.
It's nice to read something other than "stop watching Fox News, Obama this & that, and cryptic, smug one-liners about how no one understands the underlying numbers."
People see what they want to see in these numbers IMHO. Me personally, I don't share the jubilation considering that there are so many honest, hard-working Americans that CAN'T find a job or, work a part-time job (or 2) to provide for their families. Not to mention the people that straight up quit looking out of frustration.
Until that kind of nonsense stops, I'm not convinced that the jobless rate is truly 7.5% and numbers like today's are good.
High Frequency Trading: Harmful Or Helpful? [View article]
Can Judge Jackson Still Ignore Google's Work-Around? [View article]
That QE taper may end up being a QE expansion as FRBNY President Bill Dudley tells a gathering in Japan the uncertain economic outlook has him unsure if the next move will be up or down. He worries about investor over-reaction to a "normalization" of policy and suggests the FOMC may need to update what it needs to see to move in that direction. Stocks like the "up" talk, the S&P 500 (SPY +0.4%) at a fresh session high. [View news story]
As leaked earlier, Jamie Dimon will keep both jobs at JPMorgan (JPM +2.1%) as the vote to separate the Chairman and CEO roles receives only about 32% support (got 40% last year). Additionally, all board members are re-elected, including risk-committee member Ellen Futter, who got 53.1% of the vote. [View news story]
Can Judge Jackson Impose An Injunction Against Google's Unconfirmed Workaround? [View article]
Nordstrom (JWN): Q1 EPS of $0.73 misses by $0.03. Revenue of $2.7B (+4.8% Y/Y) misses by $0.1B. Shares -3.9% AH. (PR) [View news story]
Yahoo (YHOO) is in "serious talks" to buy social blogging service Tumblr for as much as $1B, multiple sources tell AdWeek. Kara Swisher also reports talks are happening, but is more circumspect, stating they could result in a partnership, investment, acquisition, or nothing at all. Tumblr, which claims 100M+ blogs and (as of Nov.) ~170M monthly visitors (up over 3x from Jan.), would give Yahoo a big source of user-generated content to integrate and monetize, and would strengthen its mobile presence. It would also (as Swisher notes) mesh with Yahoo's efforts to win back younger Web users. [View news story]
Knocking stocks for a few points is San Francisco Fed President Williams reiterating his hope QE can begin to be tapered this summer and halted by year's end. This is not the first time Williams has said such, but he does reside in the FOMC's dovish camp. He notes even without QE, Fed policy would remain extraordinarily stimulative. [View news story]
JPMorgan - Why I'm All In With Jamie Dimon [View article]
FD: long JPM
Getting Drunk On The Punch [View article]
I like the TSLA story but, I'm not sold on it for other reasons.
The TSLA performance model S bumps up in price against the BMW M5 which is a beast and the upcoming 2014 Maserati Quattroporte V6 (with a Ferrari built engine that has an optional V8 engine that goes from 0-60 in UNDER 5 seconds) which will be a rocket ship that will blow away the model S in styling and performance.
The "X-factor" will be the Model X IMHO. I think it has general appeal and the Mercedes-like "Falcon doors" are a cool feature geeks will like.
Where I golf there are some guys bought the model S because it was something different. After a couple of conversations some of them are already looking to sell them as the "first to own" factor is now over a year old.
Lastly, it seems the eco-snobs and the Hollywood (I'm green when I'm not in my limousine") types have already bought them. I don't see many more buyers for the model S to be honest. Plus, the Model X looks a little too modest for the high end.
But, this is in So. Cal (TSLA's backyard) so your mileage may vary ;-)
FD: no position in TSLA and no plans to initiate.
That was fast: Microsoft (MSFT) announces Office division CFO Amy Hood will be the company's new CFO, replacing Peter Klein immediately. Klein will leave Microsoft at the end of June (the end of Microsoft's FY13). Microsoft might have decided to speed up its announcement in response to today's Bloomberg report. [View news story]
Banks eased lending standards in April and also experienced stronger demand across several loan categories, according to the Fed's Senior Loan Officer Survey. The biggest improvement is in business loans, with the household side more mixed - just prime loans seeing easier standards and greater demand. [View news story]
Worst Jobs Report Since April 2009? [View article]
It's nice to read something other than "stop watching Fox News, Obama this & that, and cryptic, smug one-liners about how no one understands the underlying numbers."
People see what they want to see in these numbers IMHO. Me personally, I don't share the jubilation considering that there are so many honest, hard-working Americans that CAN'T find a job or, work a part-time job (or 2) to provide for their families. Not to mention the people that straight up quit looking out of frustration.
Until that kind of nonsense stops, I'm not convinced that the jobless rate is truly 7.5% and numbers like today's are good.
April Nonfarm Payrolls: +165K vs. consensus +145K, 138K previous (revised from +88K). Unemployment rate 7.5% vs. consensus 7.6%, 7.6% previous. [View news story]
April Nonfarm Payrolls: +165K vs. consensus +145K, 138K previous (revised from +88K). Unemployment rate 7.5% vs. consensus 7.6%, 7.6% previous. [View news story]