Financial News Friday – August 12, 2016

Financial News Friday – August 12, 2016

 

Virtu – In the history of electronic trading, no company has been as successful as this paradigm-changing market maker, which operates in more venues than it has employees.

“Rather than go for big trades that could blow up and lose a lot of money, Virtu prides itself on making small amounts—as in $10—millions of times a day.”

Wal-Mart to Acquire Jet.com for $3.3 Billion in Cash, Stock

It looks like Walmart is looking to beef up its online presence with its recent purchase of Jet.com (what with its online sales division getting pummeled by the online ecommerce juggernaut that is Amazon).

Famed Investor Bill Miller Leaves Legg Mason After 35 Years

Bill Miller leaves Legg Mason after working there for there for over 30 years. He recently bought out Legg Mason’s stake in his asset management company.

One Secret to Cutting Spending: Wait 72 Hours Before You Buy

Delaying the need to buy often gives us time to reevaluate our need for a product. Giving yourself some time between the impulse to purchase something and the time you actually purchase it, will help save you from buyer’s remorse and unnecessary purchases. (Your bank account will thank you.)

Stock Exchanges Propose Fix to Prevent Another Wild Session

“The major operators of U.S. stock exchanges agreed on a set of rule changes to make their markets more resilient, an attempt to prevent a repeat of a wild trading session in August 2015.”

Active Management’s Second Act

Passive investing is a cheap and easy method to get access to financial markets and always seems like the only investment strategy to utilize during a bull market. It’s likely going to take a bear market before passive investors wake up to the fact they aren’t comfortable seeing their portfolios take a 30%+ dive.

I went 200 days without buying anything new and learned how toxic our need for possessions is

 

Non-Finance Reads

The Superhero Genes – One scientist is on a quest to find the genetic mutations that make athletes elite — which may lead to new treatments for the rest of us.

Mental Models: Getting the World to Do the Work for You

 

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