Themis Trading is an independent, no-conflict, institutional agency brokerage firm specializing in equities. The purpose of our blog is for a discussion of market structure issues as well as general market commentary.
Please note that third-party posts do not reflect the views of the Company and have not been reviewed by the Company for completeness or accuracy.
MICHAEL LEWIS says:
“The principals of Themis Trading, have done more than anyone to explain and publicize the predation in the new stock market. They deserve more lines in this book than they receive but have written their own book on the subject, Broken Markets.”
“When the last history of high-frequency trading is written, Hunsader and Themis Trading deserve a prominent place in it.”
-MICHAEL LEWIS, Flash Boys
BOSTON GLOBE: "Did you read something for Flash Boys you would recommend?"
LEWIS: "Scott Patterson’s Dark Pools, which overlaps with my own book some. What he does really well is tell the early history of automated electronic trading. I’d also recommend Broken Markets and the 1923 novel Reminiscences of a Stock Operator by Edwin Lefèvre."
-The Boston Globe, "Bibliophiles: Best-selling author Michael Lewis", March 21, 2015
11
May, 2009
Ok… Who wants to buy all our stock?
There is a great editorial commentary in Barron’s this week. It is entitled, “Time for Empathetic Capitalism”. Key points of the article are as follows:
– The core principle of capitalism is not the greedy pursuit of self-interest, as Adam Smith’s Wealth Of Nations implies, but rather it is the single-minded effort to create value for others, as Adam Smith opined in his earlier, and less quoted, The Theory Of Moral Sentiments. Barron’s talks about Ford as an example.
– “Global capitalism” recently failed, as it was never genuine capitalism at all. There was no creating of long term value. This “global capitalism” was distorted for personal short term gain by a handful of players who followed the IBG YBG principle (I’ll be gone, You’ll be gone). Bankers and traders created hard to understand products, that enriched themselves at the expense of, oh… I don’t know… the entire world economic system.
Houses of cards have since fallen, with numerous governments, led by ours, bailing out these institutions with the money of the common man and woman. And no, I am not a marxist.
On the contrary, I am a capitalist. In my own self interest I will not be up in front, wildly waving my arms, shouting “Me Me Me!!!” in response to the question from the stage: “Who among you fine people wants to buy shares in our financial companies? They are rising in value! Get on board! Who among you wants some?”