You probably noticed I never delivered that piece on Schwabs ratings, there is a reason for that, and that is on the advice of someone I trust, recommended doing a future report in lieu of the current report i was too post. I thought the advice was sound, and deferred.
We are doing very well here, I've taken a loss on a desked addition to the SIP, and will stalk that one into Nov.post the quarterly guidance or rubiks that is to come.
We've also begin to benefit from the grandfather provisions going away....no surprise to anyone in this network, stove pipes could become a bit more regular in here. Make no mistake, the trade continues to desk orders across a number of companies i am currently stalking.
Supply and demand have not been restored across the whole complex.
It seems to me the specialists were the target of the Grandfather provision, nothing has changed relating to the broker dealers, who IMO are the biggest contributors to system largess in the present. Thats not to say the specialist were not once the biggest issue, but over the last few years the broker dealer/ channel seems to be working the dark side of the street, its as if the problems we investors face have re aligned to other interests than the old reliable blame game levied toward the specialists.
I believe Ahhha warned the world this would happen, though I doubt many heard what he was saying at the time. I too may have misunderstood, all clarity takes time.
Cause and effect, can shift in a system, its a function of a systems drive to sustain themselves. If a part of any system is guilty in the eyes of the broader public, than the system turns on that part, giving the system credibility for not being associated with the guilty one any longer. All systems do this, especially political ones, they sustain themselves by casting blame, and shifting tactics.....so its been done.
Specialists did stand for market making and are more free market oriented than what has replaced them, the collusion of interests now are semi private, very corrupt, but ultimately, they lack the experience of those who designed the games original rules, there fore their particular mistakes and shanannigans become obvious faster, than the routines of old.
further the new collusion is linked to political purpose, and that is a recipe for disaster whether its known, admitted, or not. Markets ultimately crush half truths, because the combined brain power of all the players; finds the logical gaps, and turns on those whose purpose was deception. You can delay recognition....but not deny it. that friends, is a truth for the bank.
PS I'll be out for a few days. |
