American securities regulators are killing the small guy.
I offer three answers for them. One, stop trading in sub-penney increments.
Two, make the best bid-best ask show across every exchange. If we can put men on the moon and allow Goldman to rule the financial universe surely we can come up with the technology to have one central algo to show best bid, best offer from every tom, dick and harry exchange out there.
Three, eliminate co-location trading and get a handle on HFT. (The SEC doesnt' have a clue)
Today, the lies coming from the NYSE are of such magnitude that Congress may actually believe them. They haven't mentioned how the NYSE has been hailing their “circuit breaker” slow model but is about to open a 400,000 square foot data center in Mahwah, NJ that caters to HFT, High Frequency Trading for those of you in Mandaree.
There is a clear lack of a common set of rules that apply to everyone. Simple.
Retired CEO of CHIPPEWA PARTNERS, Native American Advisors, Inc., now CEO of the Parisian Family Office. A White Earth Chippewa, Dean helped Native Americans for decades. Raised conservative, began Wall Street career in 1982, met game changer William O'Neil in 1984. In a world on a dopamine, hypomanic binge, this is his take on financial chicanery, political crime and life well lived at their Ghost Ranch in MT or Pamelot, the Parisian's TN farm.
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