Friday, January 26, 2018

Great Opening Lines: In the Boiler Room With Lincoln Edition

From IP&E:
"A somewhat dubious bond salesman once said to me: 'You can fool all of the people some of the time, and some of the people all of the time and that’s the market I am going for!'”....
That's from Joseph Mariathasan's January 2 Investment & Pensions Europe article "Why crypto-currencies won't stay the course" which continues:
Blockchain technology may well be a super way of undertaking many types of transaction processing in a more efficient manner than current software technology allows. The question, justifiably perhaps for most people should be, so what? It may well significantly reduce transaction costs for share dealing and other activity, but is this going to represent a game changer in any sense?

It is difficult to see why this should be the case. For long term institutional investors, as against high frequency traders, transaction costs are important, but not necessarily the critical issue when it comes to investment....MORE