Revealed: The Full Membership List of Wall Street’s Secret Society

Revealed: The Full Membership List of Wall Street’s Secret Society Share on email Back in January 2012, I crashed the annual induction ceremony of Kappa Beta Phi, a secret society for elite financiers. You can read the story of what happened here. In addition to writing down details of what I …

PRICE DISCOVERY, MARKET COMPLETION AND OTHER FANTASIES OF ECONOMISTS

PRICE DISCOVERY, MARKET COMPLETION AND OTHER FANTASIES OF ECONOMISTS By Hazel Henderson © 2013, for IPS Syndication Service While debating a high frequency trader (HFT) recently, I encountered the familiar rationalizations that HFT contributes to liquidity and price discovery in markets.  Assertions about liquidity are hard to justify after the …