In a Sunday New York Times op-ed, a guy named Sam Polk chronicles his journey from dissolute Columbia student to highly compensated hedge-fund trader to his current position as the head of a nonprofit organization. Here’s the gist: When Polk was working on Wall Street, he became a self-described “wealth addict,” though he eventually realized he had a problem and quit. However, he argues that finance is still full of money junkies just like him. … [Read more...] about Ex-Hedge-Funder Shares His ‘Wealth Addiction’ Recovery Story in New York
Trader at hedge fund
But when it comes to Lewis’s second argument – the financial costs of HFT – the costs are much less clear. It’s true that hedge-fund and mutual-fund managers invest on behalf of pensioners and retirees, and that the losses they take as a result of HFT are passed along. But to the average person, those losses would be so small as to be barely noticeable. And while pensions and other large investors are understandably upset about certain HFT practices (like quote-stuffing and latency arbitrage), they tend to acknowledge that high-frequency trading, as a general category of financial innovation, has done them more good than harm. … [Read more...] about Should You Be Worried About High-Frequency Trading?
Views on key issues: Self-professed fiscal conservative, although painted as a Democratic moderate by other conservative groups. Opposed to Medicare for all. Social progressive who backed gay marriage early, but has flip-flopped on marijuana legalization, most recently opposing it.. Wants firm action on climate change. Fiercely in favor of gun control. As New York mayor banned smoking in public places and tried to outlaw large sugary drinks. Backs increased immigration. Apologized for his stop-and-frisk policing strategy as mayor … [Read more...] about Donald Trump dares ‘corrupt’ Bloomberg News to weigh in on Mike Bloomberg after billionaire boss says he will sell his company if he wins the White House