Tag Archives: Joe Saluzzi

  • Daily Digest
    Image by Janitors, Flickr Creative Commons

    Daily Digest 10/11 – GW Report Falls Short Of Honest Truth, Alexa, Should We Trust You?

    by DailyDigest

    Thursday, October 11, 2018, 1:43 PM

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    • The World Is Quietly Decoupling From The U.S. – And No One Is Paying Attention
    • Chretien calls U.S. president 'unspeakable'
    • Alexa, Should We Trust You?
    • The Distortions of Doom Part 2: The Fatal Flaws of Reserve Currencies
    • UK Issues First Ever 'Unexplained Wealth Order'
    • Sears is in trouble: What shoppers should do if the company files for bankruptcy
    • Wells Fargo customers are fed up. They could yank billions of dollars in deposits 
    • This $69B Deal May Reshape Health Care as We Know It
    • Elderly Chinese Army Veterans Stage Massive Protest Against Police Beatings
    • South Africa’s Zulu Nation Joins White Farmers To Protest Government Land Seizures
    • The Pentagon’s Push to Program Soldiers’ Brains
    • Trump Insiders Ramp Up Rhetoric Against Russian Energy
    • Dyer: Global warming report falls short of honest truth
    • Climate change is making monster hurricanes like Michael harder to forecast
    • Yellowstone geyser erupts, vomiting decades worth of trash across park
    • How Feedback Loops Are Driving Runaway Climate Change
    • Trump Administration Waives Environmental Laws for Texas Border Wall
    • The Amazon used to be a hedge against climate change. Those days may be over.

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  • Podcast

    Joe Saluzzi: Broken Markets

    HFT, inept regulators & Fed distortion = more flash crashes
    by Adam Taggart

    Sunday, May 3, 2015, 8:58 PM

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    As luck would have it, we had Joe Saluzzi lined up to record a podcast the day the news broke recently that the suspected culprit for the 2010 flash crash, Navinder Singh Sarao, had been arrested.

    In this discussion, Joe shares his suspicions about Sarao (a contributor to the crash, but highly unlikely to be the actual cause) and then provides his expert assessment of what has been done in the intervening years since the flash crash to safeguard the market against a similar failure (precious little). In his opinion, a winner-take-all high-tech arms race, clueless and toothless regulators, and central bank price distortion are conspiring to make us more vulnerable — not less — to another systemic breakdown.

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  • Podcast

    Joe Saluzzi: HFT Parasites are Killing the Market Host

    Our exchanges are infested
    by Adam Taggart

    Monday, July 2, 2012, 4:05 PM

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    Joe Saluzzi, expert on algorithmic trading — also known as high-frequency trading, or HFT — returns as a guest this week to explain how the players behind this machine-driven process act as parasites that are destroying our financial markets (and, increasingly, even themselves).

    Since Joe first spoke with us last year, HFT firms have only increased in size and share of market activity. Here are some staggering statistics on how influential they have become:

    • HTFs make up between 50-70% of the volume seen across market exchanges today.
    • 2% of the traders on many exchanges (HFTs, specifically) represent 80% of the volume.
    • A single large HFT firm (referred to as a Direct Market Maker) can account for 10%+ of a market's volume on a given day
    • Large HFT firms make between $8 to $21 billion a year.
    • HFT trades occur in milliseconds (i.e., a small fraction of the time it takes your eye to blink).

    With such scale, speed, and profitability, HFTs have turned the market away from being an efficient price-setting mechanism and perverted it into a casino where the clientele of human investors gets fleeced.

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