Please see the Wall Street Journal Online Edition: Mobius Rounds On High-Frequency Traders – Financial News By William Hutchings Of FINANCIAL NEWS Veteran fund manager Mark Mobius has hit out at high-frequency traders, a growing force in global equity markets, who use software to spot patterns and profit from tiny price movements. Referring to a review instigated by the US Congress this summer, Mobius, an emerging markets fund manager at U.S. firm Franklin Templeton, said in an interview with Financial News: “I am very glad Congress is cracking down on high-frequency trading. Some pundits say it???s great, because liquidity (more…)

I just watched Mr. Myron Scholes being interviewed by Becky Quick on CNBC. First off I would like to congratulate Becky Quick for conducting such an informative, non-sensational, and insightful interview. Keep up the good work; we need more of this from the media. Secondly, Mr. Scholes finished his interview with an analogy. The analogy is true for many aspects of our market, be it the money printing in our economy, or the HFT dominance of the day to day action in the tape. I paraphrase: If you are driving down the highway at the speed limit, and everyone else (more…)