At last week’s STA Market Structure Conference, the topic of market data costs was brought up repeatedly.  Even though most folks at the conference believe that market data costs are too high, the stock exchanges seem to believe that they add a lot of value here which is why they charge such high rates for market data. This made us think about the question: who owns the market data? We thought we would walk through a few investment scenarios and then ask that question about each scenario. Scenario #1 – Institutional Investor Portfolio manager decides to buy a stock after spending hours (more…)

It is sixteen years later and we still remember. We will Never Forget. While we remember our friends and relatives who perished that day, and all of the selfless public servants who gave their lives to aid in disaster and calamity, we also remember what binds us all together – the love of neighbor and country. Sadly, in more recent times some of us – perhaps too many of us – have forgotten that what binds us together is greater than what divides us. We live in the greatest nation on our planet, and we will become even greater the (more…)

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Aug, 2017