Wednesday, May 12, 2010

Grasso on weed.........

Listening to Dick Grasso on Bloomberg TV this morning is really great comedy.

Take a guy who pulled nearly a couple hundred million out of the NYSE and you will have a guy who sings to high heaven, praises for the NYSE.

You were the worlds best bullshitter for the NYSE when the floor brokers were ruling the roost (PRE IPO) and now that the floor boys sold out to the public, electronic algo guys, co-locators and dark poolers abound (traders that account for over 70% of daily volume in sub-penny increments) you are simply making the case for listing on NASDAQ.

If your market was so deep and liquid, (where the world puts their stock) the trading fiasco's to come will bury the NYSE shop. There is no leadership at the SEC Dick, it is porn star viewers gone wild. You bet your ass you better penalize market innovation (HFT), the is no one playing by the same hymnal.

The litle guy, the average American investor doesn't understand it, doesn't need it and will not be served. It's not just, not ethical and not right.

But a couple hundred million in your retirment account doesn't keep your opinions from smelling. It's foul.

Native American Advisors CHIPPEWA PARTNERS