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Nasdaq CEO Suggests Halt to Allow Investors to ‘Recalibrate’ to Combat Reddit

51 points by caseysoftware 6y ago

tolbish 6y ago
> “I think that, in general, when we evaluate how we would manage through a situation where you see a significant run-up in a stock not based on news, not based on fundamentals" 'Fundamentals' is certainly a euphemism.
dirtyoldmick 6y ago
They are going to keep changing the rules so nobody can win but the big guys.
mensetmanusman 6y ago
The perils of direct democracy and individuals making decisions. We need an elite group of ultra wealthy individuals and politicians to protect us from ourselves.
Jkvngt 6y ago
Lots of people are going to take this as a blow against small investors. Janet Yellen's taken $7 million in speaking fees from Melvin's largest backer.
- mansion7 6y ago
  It's okay, Biden's press secretary assured us that this was perfectly legit and that Ms. Yellen had earned the money. I didn't see any CNN fact checkers or "lie counters" weighing in on it, so we should be fine.
  - jjeaff 6y ago
    How would one fact check this? It is true that it is not illegal to accept speaking fees. You could write a think piece about why the practice is shady or creates bad incentives, but it's not a fact check situation like we have had so many times in the recent past.
    - Jkvngt 6y ago
      Fact checking is only fashionable when there's a Republican in office.
29athrowaway 6y ago
Recalibrate = develop bots that analyze WSB
caseysoftware 6y ago
^ Note that this was actually published yesterday (Wednesday) afternoon so the intent was there long in advance of the "outages" this morning. It's also why "collusion" between brokers will be a challenge because you don't need collusion if everyone knows the exchange itself supports the idea. Then it's just a matter of timing which doesn't have to be perfect.
a3n 6y ago
Will they also stop trading when stop losses get swept by hedges and other large traders? So the retail traders can, you know, recalibrate.
- Fjolsvith 6y ago
  Yeah because just that CEO suggesting this isn't itself market manipulation.

51 points by caseysoftware 6y ago

> “I think that, in general, when we evaluate how we would manage through a situation where you see a significant run-up in a stock not based on news, not based on fundamentals" 'Fundamentals' is certainly a euphemism.

dirtyoldmick 6y ago

They are going to keep changing the rules so nobody can win but the big guys.

mensetmanusman 6y ago

The perils of direct democracy and individuals making decisions. We need an elite group of ultra wealthy individuals and politicians to protect us from ourselves.

Jkvngt 6y ago

Lots of people are going to take this as a blow against small investors. Janet Yellen's taken $7 million in speaking fees from Melvin's largest backer.

mansion7 6y ago
It's okay, Biden's press secretary assured us that this was perfectly legit and that Ms. Yellen had earned the money. I didn't see any CNN fact checkers or "lie counters" weighing in on it, so we should be fine.
- jjeaff 6y ago
  How would one fact check this? It is true that it is not illegal to accept speaking fees. You could write a think piece about why the practice is shady or creates bad incentives, but it's not a fact check situation like we have had so many times in the recent past.
  - Jkvngt 6y ago
    Fact checking is only fashionable when there's a Republican in office.

29athrowaway 6y ago

Recalibrate = develop bots that analyze WSB

caseysoftware 6y ago

^ Note that this was actually published yesterday (Wednesday) afternoon so the intent was there long in advance of the "outages" this morning. It's also why "collusion" between brokers will be a challenge because you don't need collusion if everyone knows the exchange itself supports the idea. Then it's just a matter of timing which doesn't have to be perfect.

a3n 6y ago

Will they also stop trading when stop losses get swept by hedges and other large traders? So the retail traders can, you know, recalibrate.

Fjolsvith 6y ago
Yeah because just that CEO suggesting this isn't itself market manipulation.