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Gordon88

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2021-03-21

Power la brudder!

Powell says Fed will keep supporting economy ‘for as long as it takes’

2021-02-03

It's P/B ratio is a little high, any reason for that? Or is it just overhyped?

Sorry, the original content has been removed

2021-03-21

Please like and comment, will do the same. Thank you.

Sorry, the original content has been removed

2021-03-21

Potentially the next big start up.

2021-02-03

Meh

As GameStop showed, anyone can manipulate the market. Here's how to fix that

Go to Tiger App to see more news

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like and comment, will do the same. Thank you.&nbsp;","listText":"Please like and comment, will do the same. Thank you.&nbsp;","text":"Please like and comment, will do the same. Thank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/359906675","repostId":"1126157111","repostType":4,"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359901754,"gmtCreate":1616310845678,"gmtModify":1704792835337,"author":{"id":"3554951408478476","authorId":"3554951408478476","name":"Gordon88","avatar":"https://static.tigerbbs.com/6bbef0fffe91d994a6c3303ffb9ca385","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554951408478476","authorIdStr":"3554951408478476"},"themes":[],"htmlText":"Power la brudder!&nbsp;","listText":"Power la brudder!&nbsp;","text":"Power la brudder!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/359901754","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","pubTimestamp":1616166767,"share":"https://ttm.financial/m/news/1117450855?lang=&edition=fundamental","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<blockquote>\n <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>\n</blockquote>\n<p>Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p>\n<p>In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p>\n<p>“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p>\n<p>Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p>\n<p>The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p>\n<p>With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p>\n<p>In the op-ed, Powell said the situation “is much improved.”</p>\n<p>“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p>\n<p>“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p>\n<p>On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p>\n<p>The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p>\n<p>Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p>\n<p>Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell says Fed will keep supporting economy ‘for as long as it takes’</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 23:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” ...</p>\n\n<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":33,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359901505,"gmtCreate":1616310812807,"gmtModify":1704792835015,"author":{"id":"3554951408478476","authorId":"3554951408478476","name":"Gordon88","avatar":"https://static.tigerbbs.com/6bbef0fffe91d994a6c3303ffb9ca385","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554951408478476","authorIdStr":"3554951408478476"},"themes":[],"htmlText":"Potentially the next big start up.&nbsp;","listText":"Potentially the next big start up.&nbsp;","text":"Potentially the next big start up.","images":[{"img":"https://static.tigerbbs.com/949b21f226d5e2127d9f171618bd99dd","width":"1080","height":"2860"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/359901505","isVote":1,"tweetType":1,"viewCount":82,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":314616691,"gmtCreate":1612343827213,"gmtModify":1704869938276,"author":{"id":"3554951408478476","authorId":"3554951408478476","name":"Gordon88","avatar":"https://static.tigerbbs.com/6bbef0fffe91d994a6c3303ffb9ca385","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554951408478476","authorIdStr":"3554951408478476"},"themes":[],"htmlText":"It's P/B ratio is a little high, any reason for that? Or is it just overhyped?&nbsp;","listText":"It's P/B ratio is a little high, any reason for that? Or is it just overhyped?&nbsp;","text":"It's P/B ratio is a little high, any reason for that? Or is it just overhyped?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/314616691","repostId":"2108759861","repostType":4,"isVote":1,"tweetType":1,"viewCount":189,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314695716,"gmtCreate":1612342078635,"gmtModify":1704869915141,"author":{"id":"3554951408478476","authorId":"3554951408478476","name":"Gordon88","avatar":"https://static.tigerbbs.com/6bbef0fffe91d994a6c3303ffb9ca385","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554951408478476","authorIdStr":"3554951408478476"},"themes":[],"htmlText":"Meh","listText":"Meh","text":"Meh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314695716","repostId":"1172180017","repostType":4,"repost":{"id":"1172180017","pubTimestamp":1612338041,"share":"https://ttm.financial/m/news/1172180017?lang=&edition=fundamental","pubTime":"2021-02-03 15:40","market":"us","language":"en","title":"As GameStop showed, anyone can manipulate the market. Here's how to fix that","url":"https://stock-news.laohu8.com/highlight/detail?id=1172180017","media":"straitstimes","summary":"NEW YORK (NYTIMES) - There will be academic case studies on the mania around GameStop's stock. There","content":"<p>NEW YORK (NYTIMES) - There will be academic case studies on the mania around GameStop's stock. There will be philosophical debates about whether this was a genuine protest against hedge funds and inequality or a pump-and-dump scheme masquerading as a moral crusade. Eventually, we will learn whether this was a transformational moment powered by social media that will shift the investing landscape forever, or a short-term blip that soon fades away.</p>\n<p>What is&nbsp;less up for debate is this: The public has a deep distrust of the stock market and everything it represents. That lesson has been laid bare by the anger coursing through the Reddit posts and Twitter threads of GameStop traders and the throngs cheering them on.</p>\n<p>What the Reddit investors did,more than anything else, was demonstrate in the starkest terms that they could manipulate the market in the way that so much of the public believes hedge funds and wealthy investors do every day. In doing so, they exposed the fallacy that the stock market was ever a level playing field.</p>\n<p>So now what? If any good can come from this beyond the feel-good story of some retail traders profiting at the expense of hedge funds - which may reverse before this story is over - it requires a real conversation about how to make a more fair market that nobody can manipulate, that provides the same opportunities for everyone to create wealth.</p>\n<p>Here are policy ideas to help level the playing field:</p>\n<p><b>• A transaction tax for high-frequency traders</b></p>\n<p>One of the arguments repeatedly made by critics of Wall Street is that high-frequency traders - who are buying and selling in milliseconds - have made a mockery of the idea of actual investing. These traders are often taking advantage of price discrepancies using algorithms in a way that no retail investor has any opportunity to do, creating great wealth at firms like Citadel and Virtu Financial. A transaction tax of even 0.1 per cent on the value of trades&nbsp;would not only raise nearly $80 billion a year, but also meaningfully reduce high-frequency trading by making it less profitable. Bills have been proposed in Congress repeatedly for such a tax and struck down.</p>\n<p>The cons: Proponents of high-frequency trading say that it creates more competition and therefore makes the market more efficient for all participants, including retail investors.</p>\n<p><b>• Disclosure of short positions</b></p>\n<p>Big hedge funds have to disclose their \"long\" positions when they cross the threshold of owning 5 per cent or more of a company's shares. No such disclosure is required for short positions. At all. Shouldn't there be? If we as a society believe transparency is important to understand who is buying up shares, it would seem logical that we also want to know who is betting against them. Some people believe that short selling itself should banned, but others believe it performs an important policing function by incentivising shareholders to scrutinise companies for fraud, chicanery or simple mismanagement.</p>\n<p>The cons: If short-sellers were forced to disclose their bets, they could find it difficult to build meaningful positions. Shorting a stock can take time, and building the position could make them targets of investors who might put them in a short squeeze, similar to what was play out over the past week.</p>\n<p><b>• End private meetings between companies and big investors</b></p>\n<p>Passing important information that is not publicly disclosed to all investors is illegal. But big investors travel across the country constantly to visit chief executives and privately grill them about their businesses. The retail investor cannot get in these meetings. While most executives are careful not to pass news of impending earnings or a merger, it is hard to believe that big investors would spend the time and money to get these meetings if they did not believe that doing so provided them with an edge that they could&nbsp;not get otherwise.</p>\n<p>The cons: Companies often say they want to hear from their biggest investors and get feedback on their performance. Some big investors also say that given the amount of money at stake - especially when making a long-term investment commitment - they want to know the management team personally.</p>\n<p><b>• Access to private investments for anyone with smarts, not wealth</b></p>\n<p>The United States&nbsp;Securities and Exchange Commission (SEC) says that only \"accredited investors\" can put money in private investment vehicles like venture capital and private equity funds, which often generate some of the biggest returns. Historically, being an accredited investor was measured by wealth. The SEC recently changed the rule to allow people with deep financial experience to invest even if they don't meet the wealth thresholds. What about a test for anyone who wants to become an accredited investor, like a driver's licence for investing? This would create a fairer system and ensure anybody putting money in the most risky vehicles has the required financial literacy to fully understand the risks.</p>\n<p>The cons: Even the most sophisticated investors lose sometimes, but someone with a lot of wealth has a cushion. Someone with less to lose may be forced to rely on the social safety net when an investment goes wrong. And a financial literacy test for everyone might mean some of the wealthiest investors won't take - or pass - the exam, preventing money from being invested in risky but important early-stage companies.</p>\n<p><b>• End payment for order flow</b></p>\n<p>When Robinhood, the brokerage app, was introduced, its biggest innovation was eliminating trading commissions. The move was a huge hit, and the company grew so quickly that other brokerage firms eliminated their fees&nbsp;too. So how does it make money? Robinhood's unique insight was that it could charge market makers to execute trades for it. Market makers, in turn, extract a profit for fulfilling each trade and insights from the flood of data. In the case of Robinhood, Citadel Securities executes a majority of its trades and represents its biggest source of revenue. That has created questions about conflicts of interest and instilled a sense of distrust in the system. Ending the practice could give retail investors more confidence that the prices of their trades reflect prevailing conditions on exchanges and not private arrangements between brokers and other parties.</p>\n<p>The cons: This is a big one - trades would not be free. If you believe that no-commission trading has helped democratise the market and made it more accessible for retail investors, then eliminating it would make the playing field less equal.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>As GameStop showed, anyone can manipulate the market. Here's how to fix that</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAs GameStop showed, anyone can manipulate the market. Here's how to fix that\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 15:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/companies-markets/as-gamestop-showed-anyone-can-manipulate-the-market-heres-how-to-fix-that><strong>straitstimes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (NYTIMES) - There will be academic case studies on the mania around GameStop's stock. There will be philosophical debates about whether this was a genuine protest against hedge funds and ...</p>\n\n<a href=\"https://www.straitstimes.com/business/companies-markets/as-gamestop-showed-anyone-can-manipulate-the-market-heres-how-to-fix-that\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3780c78c8bb55dbf0b4bcd80ffe89707","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.straitstimes.com/business/companies-markets/as-gamestop-showed-anyone-can-manipulate-the-market-heres-how-to-fix-that","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172180017","content_text":"NEW YORK (NYTIMES) - There will be academic case studies on the mania around GameStop's stock. There will be philosophical debates about whether this was a genuine protest against hedge funds and inequality or a pump-and-dump scheme masquerading as a moral crusade. Eventually, we will learn whether this was a transformational moment powered by social media that will shift the investing landscape forever, or a short-term blip that soon fades away.\nWhat is less up for debate is this: The public has a deep distrust of the stock market and everything it represents. That lesson has been laid bare by the anger coursing through the Reddit posts and Twitter threads of GameStop traders and the throngs cheering them on.\nWhat the Reddit investors did,more than anything else, was demonstrate in the starkest terms that they could manipulate the market in the way that so much of the public believes hedge funds and wealthy investors do every day. In doing so, they exposed the fallacy that the stock market was ever a level playing field.\nSo now what? If any good can come from this beyond the feel-good story of some retail traders profiting at the expense of hedge funds - which may reverse before this story is over - it requires a real conversation about how to make a more fair market that nobody can manipulate, that provides the same opportunities for everyone to create wealth.\nHere are policy ideas to help level the playing field:\n• A transaction tax for high-frequency traders\nOne of the arguments repeatedly made by critics of Wall Street is that high-frequency traders - who are buying and selling in milliseconds - have made a mockery of the idea of actual investing. These traders are often taking advantage of price discrepancies using algorithms in a way that no retail investor has any opportunity to do, creating great wealth at firms like Citadel and Virtu Financial. A transaction tax of even 0.1 per cent on the value of trades would not only raise nearly $80 billion a year, but also meaningfully reduce high-frequency trading by making it less profitable. Bills have been proposed in Congress repeatedly for such a tax and struck down.\nThe cons: Proponents of high-frequency trading say that it creates more competition and therefore makes the market more efficient for all participants, including retail investors.\n• Disclosure of short positions\nBig hedge funds have to disclose their \"long\" positions when they cross the threshold of owning 5 per cent or more of a company's shares. No such disclosure is required for short positions. At all. Shouldn't there be? If we as a society believe transparency is important to understand who is buying up shares, it would seem logical that we also want to know who is betting against them. Some people believe that short selling itself should banned, but others believe it performs an important policing function by incentivising shareholders to scrutinise companies for fraud, chicanery or simple mismanagement.\nThe cons: If short-sellers were forced to disclose their bets, they could find it difficult to build meaningful positions. Shorting a stock can take time, and building the position could make them targets of investors who might put them in a short squeeze, similar to what was play out over the past week.\n• End private meetings between companies and big investors\nPassing important information that is not publicly disclosed to all investors is illegal. But big investors travel across the country constantly to visit chief executives and privately grill them about their businesses. The retail investor cannot get in these meetings. While most executives are careful not to pass news of impending earnings or a merger, it is hard to believe that big investors would spend the time and money to get these meetings if they did not believe that doing so provided them with an edge that they could not get otherwise.\nThe cons: Companies often say they want to hear from their biggest investors and get feedback on their performance. Some big investors also say that given the amount of money at stake - especially when making a long-term investment commitment - they want to know the management team personally.\n• Access to private investments for anyone with smarts, not wealth\nThe United States Securities and Exchange Commission (SEC) says that only \"accredited investors\" can put money in private investment vehicles like venture capital and private equity funds, which often generate some of the biggest returns. Historically, being an accredited investor was measured by wealth. The SEC recently changed the rule to allow people with deep financial experience to invest even if they don't meet the wealth thresholds. What about a test for anyone who wants to become an accredited investor, like a driver's licence for investing? This would create a fairer system and ensure anybody putting money in the most risky vehicles has the required financial literacy to fully understand the risks.\nThe cons: Even the most sophisticated investors lose sometimes, but someone with a lot of wealth has a cushion. Someone with less to lose may be forced to rely on the social safety net when an investment goes wrong. And a financial literacy test for everyone might mean some of the wealthiest investors won't take - or pass - the exam, preventing money from being invested in risky but important early-stage companies.\n• End payment for order flow\nWhen Robinhood, the brokerage app, was introduced, its biggest innovation was eliminating trading commissions. The move was a huge hit, and the company grew so quickly that other brokerage firms eliminated their fees too. So how does it make money? Robinhood's unique insight was that it could charge market makers to execute trades for it. Market makers, in turn, extract a profit for fulfilling each trade and insights from the flood of data. In the case of Robinhood, Citadel Securities executes a majority of its trades and represents its biggest source of revenue. That has created questions about conflicts of interest and instilled a sense of distrust in the system. Ending the practice could give retail investors more confidence that the prices of their trades reflect prevailing conditions on exchanges and not private arrangements between brokers and other parties.\nThe cons: This is a big one - trades would not be free. If you believe that no-commission trading has helped democratise the market and made it more accessible for retail investors, then eliminating it would make the playing field less equal.","news_type":1},"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":359901754,"gmtCreate":1616310845678,"gmtModify":1704792835337,"author":{"id":"3554951408478476","authorId":"3554951408478476","name":"Gordon88","avatar":"https://static.tigerbbs.com/6bbef0fffe91d994a6c3303ffb9ca385","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554951408478476","authorIdStr":"3554951408478476"},"themes":[],"htmlText":"Power la brudder!&nbsp;","listText":"Power la brudder!&nbsp;","text":"Power la brudder!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/359901754","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","pubTimestamp":1616166767,"share":"https://ttm.financial/m/news/1117450855?lang=&edition=fundamental","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<blockquote>\n <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>\n</blockquote>\n<p>Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p>\n<p>In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p>\n<p>“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p>\n<p>Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p>\n<p>The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p>\n<p>With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p>\n<p>In the op-ed, Powell said the situation “is much improved.”</p>\n<p>“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p>\n<p>“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p>\n<p>On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p>\n<p>The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p>\n<p>Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p>\n<p>Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell says Fed will keep supporting economy ‘for as long as it takes’</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 23:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” ...</p>\n\n<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":33,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":314616691,"gmtCreate":1612343827213,"gmtModify":1704869938276,"author":{"id":"3554951408478476","authorId":"3554951408478476","name":"Gordon88","avatar":"https://static.tigerbbs.com/6bbef0fffe91d994a6c3303ffb9ca385","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554951408478476","authorIdStr":"3554951408478476"},"themes":[],"htmlText":"It's P/B ratio is a little high, any reason for that? Or is it just overhyped?&nbsp;","listText":"It's P/B ratio is a little high, any reason for that? Or is it just overhyped?&nbsp;","text":"It's P/B ratio is a little high, any reason for that? Or is it just overhyped?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/314616691","repostId":"2108759861","repostType":4,"isVote":1,"tweetType":1,"viewCount":189,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359906675,"gmtCreate":1616311040497,"gmtModify":1704792837148,"author":{"id":"3554951408478476","authorId":"3554951408478476","name":"Gordon88","avatar":"https://static.tigerbbs.com/6bbef0fffe91d994a6c3303ffb9ca385","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554951408478476","authorIdStr":"3554951408478476"},"themes":[],"htmlText":"Please like and comment, will do the same. Thank you.&nbsp;","listText":"Please like and comment, will do the same. Thank you.&nbsp;","text":"Please like and comment, will do the same. Thank you.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/359906675","repostId":"1126157111","repostType":4,"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359901505,"gmtCreate":1616310812807,"gmtModify":1704792835015,"author":{"id":"3554951408478476","authorId":"3554951408478476","name":"Gordon88","avatar":"https://static.tigerbbs.com/6bbef0fffe91d994a6c3303ffb9ca385","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554951408478476","authorIdStr":"3554951408478476"},"themes":[],"htmlText":"Potentially the next big start up.&nbsp;","listText":"Potentially the next big start up.&nbsp;","text":"Potentially the next big start up.","images":[{"img":"https://static.tigerbbs.com/949b21f226d5e2127d9f171618bd99dd","width":"1080","height":"2860"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/359901505","isVote":1,"tweetType":1,"viewCount":82,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":314695716,"gmtCreate":1612342078635,"gmtModify":1704869915141,"author":{"id":"3554951408478476","authorId":"3554951408478476","name":"Gordon88","avatar":"https://static.tigerbbs.com/6bbef0fffe91d994a6c3303ffb9ca385","crmLevel":6,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554951408478476","authorIdStr":"3554951408478476"},"themes":[],"htmlText":"Meh","listText":"Meh","text":"Meh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/314695716","repostId":"1172180017","repostType":4,"repost":{"id":"1172180017","pubTimestamp":1612338041,"share":"https://ttm.financial/m/news/1172180017?lang=&edition=fundamental","pubTime":"2021-02-03 15:40","market":"us","language":"en","title":"As GameStop showed, anyone can manipulate the market. Here's how to fix that","url":"https://stock-news.laohu8.com/highlight/detail?id=1172180017","media":"straitstimes","summary":"NEW YORK (NYTIMES) - There will be academic case studies on the mania around GameStop's stock. There","content":"<p>NEW YORK (NYTIMES) - There will be academic case studies on the mania around GameStop's stock. There will be philosophical debates about whether this was a genuine protest against hedge funds and inequality or a pump-and-dump scheme masquerading as a moral crusade. Eventually, we will learn whether this was a transformational moment powered by social media that will shift the investing landscape forever, or a short-term blip that soon fades away.</p>\n<p>What is&nbsp;less up for debate is this: The public has a deep distrust of the stock market and everything it represents. That lesson has been laid bare by the anger coursing through the Reddit posts and Twitter threads of GameStop traders and the throngs cheering them on.</p>\n<p>What the Reddit investors did,more than anything else, was demonstrate in the starkest terms that they could manipulate the market in the way that so much of the public believes hedge funds and wealthy investors do every day. In doing so, they exposed the fallacy that the stock market was ever a level playing field.</p>\n<p>So now what? If any good can come from this beyond the feel-good story of some retail traders profiting at the expense of hedge funds - which may reverse before this story is over - it requires a real conversation about how to make a more fair market that nobody can manipulate, that provides the same opportunities for everyone to create wealth.</p>\n<p>Here are policy ideas to help level the playing field:</p>\n<p><b>• A transaction tax for high-frequency traders</b></p>\n<p>One of the arguments repeatedly made by critics of Wall Street is that high-frequency traders - who are buying and selling in milliseconds - have made a mockery of the idea of actual investing. These traders are often taking advantage of price discrepancies using algorithms in a way that no retail investor has any opportunity to do, creating great wealth at firms like Citadel and Virtu Financial. A transaction tax of even 0.1 per cent on the value of trades&nbsp;would not only raise nearly $80 billion a year, but also meaningfully reduce high-frequency trading by making it less profitable. Bills have been proposed in Congress repeatedly for such a tax and struck down.</p>\n<p>The cons: Proponents of high-frequency trading say that it creates more competition and therefore makes the market more efficient for all participants, including retail investors.</p>\n<p><b>• Disclosure of short positions</b></p>\n<p>Big hedge funds have to disclose their \"long\" positions when they cross the threshold of owning 5 per cent or more of a company's shares. No such disclosure is required for short positions. At all. Shouldn't there be? If we as a society believe transparency is important to understand who is buying up shares, it would seem logical that we also want to know who is betting against them. Some people believe that short selling itself should banned, but others believe it performs an important policing function by incentivising shareholders to scrutinise companies for fraud, chicanery or simple mismanagement.</p>\n<p>The cons: If short-sellers were forced to disclose their bets, they could find it difficult to build meaningful positions. Shorting a stock can take time, and building the position could make them targets of investors who might put them in a short squeeze, similar to what was play out over the past week.</p>\n<p><b>• End private meetings between companies and big investors</b></p>\n<p>Passing important information that is not publicly disclosed to all investors is illegal. But big investors travel across the country constantly to visit chief executives and privately grill them about their businesses. The retail investor cannot get in these meetings. While most executives are careful not to pass news of impending earnings or a merger, it is hard to believe that big investors would spend the time and money to get these meetings if they did not believe that doing so provided them with an edge that they could&nbsp;not get otherwise.</p>\n<p>The cons: Companies often say they want to hear from their biggest investors and get feedback on their performance. Some big investors also say that given the amount of money at stake - especially when making a long-term investment commitment - they want to know the management team personally.</p>\n<p><b>• Access to private investments for anyone with smarts, not wealth</b></p>\n<p>The United States&nbsp;Securities and Exchange Commission (SEC) says that only \"accredited investors\" can put money in private investment vehicles like venture capital and private equity funds, which often generate some of the biggest returns. Historically, being an accredited investor was measured by wealth. The SEC recently changed the rule to allow people with deep financial experience to invest even if they don't meet the wealth thresholds. What about a test for anyone who wants to become an accredited investor, like a driver's licence for investing? This would create a fairer system and ensure anybody putting money in the most risky vehicles has the required financial literacy to fully understand the risks.</p>\n<p>The cons: Even the most sophisticated investors lose sometimes, but someone with a lot of wealth has a cushion. Someone with less to lose may be forced to rely on the social safety net when an investment goes wrong. And a financial literacy test for everyone might mean some of the wealthiest investors won't take - or pass - the exam, preventing money from being invested in risky but important early-stage companies.</p>\n<p><b>• End payment for order flow</b></p>\n<p>When Robinhood, the brokerage app, was introduced, its biggest innovation was eliminating trading commissions. The move was a huge hit, and the company grew so quickly that other brokerage firms eliminated their fees&nbsp;too. So how does it make money? Robinhood's unique insight was that it could charge market makers to execute trades for it. Market makers, in turn, extract a profit for fulfilling each trade and insights from the flood of data. In the case of Robinhood, Citadel Securities executes a majority of its trades and represents its biggest source of revenue. That has created questions about conflicts of interest and instilled a sense of distrust in the system. Ending the practice could give retail investors more confidence that the prices of their trades reflect prevailing conditions on exchanges and not private arrangements between brokers and other parties.</p>\n<p>The cons: This is a big one - trades would not be free. If you believe that no-commission trading has helped democratise the market and made it more accessible for retail investors, then eliminating it would make the playing field less equal.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>As GameStop showed, anyone can manipulate the market. Here's how to fix that</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAs GameStop showed, anyone can manipulate the market. Here's how to fix that\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-03 15:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/companies-markets/as-gamestop-showed-anyone-can-manipulate-the-market-heres-how-to-fix-that><strong>straitstimes</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (NYTIMES) - There will be academic case studies on the mania around GameStop's stock. There will be philosophical debates about whether this was a genuine protest against hedge funds and ...</p>\n\n<a href=\"https://www.straitstimes.com/business/companies-markets/as-gamestop-showed-anyone-can-manipulate-the-market-heres-how-to-fix-that\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3780c78c8bb55dbf0b4bcd80ffe89707","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.straitstimes.com/business/companies-markets/as-gamestop-showed-anyone-can-manipulate-the-market-heres-how-to-fix-that","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172180017","content_text":"NEW YORK (NYTIMES) - There will be academic case studies on the mania around GameStop's stock. There will be philosophical debates about whether this was a genuine protest against hedge funds and inequality or a pump-and-dump scheme masquerading as a moral crusade. Eventually, we will learn whether this was a transformational moment powered by social media that will shift the investing landscape forever, or a short-term blip that soon fades away.\nWhat is less up for debate is this: The public has a deep distrust of the stock market and everything it represents. That lesson has been laid bare by the anger coursing through the Reddit posts and Twitter threads of GameStop traders and the throngs cheering them on.\nWhat the Reddit investors did,more than anything else, was demonstrate in the starkest terms that they could manipulate the market in the way that so much of the public believes hedge funds and wealthy investors do every day. In doing so, they exposed the fallacy that the stock market was ever a level playing field.\nSo now what? If any good can come from this beyond the feel-good story of some retail traders profiting at the expense of hedge funds - which may reverse before this story is over - it requires a real conversation about how to make a more fair market that nobody can manipulate, that provides the same opportunities for everyone to create wealth.\nHere are policy ideas to help level the playing field:\n• A transaction tax for high-frequency traders\nOne of the arguments repeatedly made by critics of Wall Street is that high-frequency traders - who are buying and selling in milliseconds - have made a mockery of the idea of actual investing. These traders are often taking advantage of price discrepancies using algorithms in a way that no retail investor has any opportunity to do, creating great wealth at firms like Citadel and Virtu Financial. A transaction tax of even 0.1 per cent on the value of trades would not only raise nearly $80 billion a year, but also meaningfully reduce high-frequency trading by making it less profitable. Bills have been proposed in Congress repeatedly for such a tax and struck down.\nThe cons: Proponents of high-frequency trading say that it creates more competition and therefore makes the market more efficient for all participants, including retail investors.\n• Disclosure of short positions\nBig hedge funds have to disclose their \"long\" positions when they cross the threshold of owning 5 per cent or more of a company's shares. No such disclosure is required for short positions. At all. Shouldn't there be? If we as a society believe transparency is important to understand who is buying up shares, it would seem logical that we also want to know who is betting against them. Some people believe that short selling itself should banned, but others believe it performs an important policing function by incentivising shareholders to scrutinise companies for fraud, chicanery or simple mismanagement.\nThe cons: If short-sellers were forced to disclose their bets, they could find it difficult to build meaningful positions. Shorting a stock can take time, and building the position could make them targets of investors who might put them in a short squeeze, similar to what was play out over the past week.\n• End private meetings between companies and big investors\nPassing important information that is not publicly disclosed to all investors is illegal. But big investors travel across the country constantly to visit chief executives and privately grill them about their businesses. The retail investor cannot get in these meetings. While most executives are careful not to pass news of impending earnings or a merger, it is hard to believe that big investors would spend the time and money to get these meetings if they did not believe that doing so provided them with an edge that they could not get otherwise.\nThe cons: Companies often say they want to hear from their biggest investors and get feedback on their performance. Some big investors also say that given the amount of money at stake - especially when making a long-term investment commitment - they want to know the management team personally.\n• Access to private investments for anyone with smarts, not wealth\nThe United States Securities and Exchange Commission (SEC) says that only \"accredited investors\" can put money in private investment vehicles like venture capital and private equity funds, which often generate some of the biggest returns. Historically, being an accredited investor was measured by wealth. The SEC recently changed the rule to allow people with deep financial experience to invest even if they don't meet the wealth thresholds. What about a test for anyone who wants to become an accredited investor, like a driver's licence for investing? This would create a fairer system and ensure anybody putting money in the most risky vehicles has the required financial literacy to fully understand the risks.\nThe cons: Even the most sophisticated investors lose sometimes, but someone with a lot of wealth has a cushion. Someone with less to lose may be forced to rely on the social safety net when an investment goes wrong. And a financial literacy test for everyone might mean some of the wealthiest investors won't take - or pass - the exam, preventing money from being invested in risky but important early-stage companies.\n• End payment for order flow\nWhen Robinhood, the brokerage app, was introduced, its biggest innovation was eliminating trading commissions. The move was a huge hit, and the company grew so quickly that other brokerage firms eliminated their fees too. So how does it make money? Robinhood's unique insight was that it could charge market makers to execute trades for it. Market makers, in turn, extract a profit for fulfilling each trade and insights from the flood of data. In the case of Robinhood, Citadel Securities executes a majority of its trades and represents its biggest source of revenue. That has created questions about conflicts of interest and instilled a sense of distrust in the system. Ending the practice could give retail investors more confidence that the prices of their trades reflect prevailing conditions on exchanges and not private arrangements between brokers and other parties.\nThe cons: This is a big one - trades would not be free. If you believe that no-commission trading has helped democratise the market and made it more accessible for retail investors, then eliminating it would make the playing field less equal.","news_type":1},"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}