The best job in all of journalism is to be the photographer who goes down to the New York Stock Exchange and gets paid to take a few pictures of brokers with their hands on their heads as the Dow plummets.
Just once, after the market falls more than 600 points, I'd like to see a newspaper feature a big photo above the fold that shows two short sellers high-fiving. It won't happen, of course, but I hope the idea amuses you after what has been a chaotic, tumultuous week. (This was my thinking when I selected a line from Shakespeare's "Henry V" as the headline of this post.)
Speaking of the volatile market, we should be looking at the silver lining of the recent market fluctuations. This is a great time to check to make sure your systems can withstand unexpected market spikes.
I spoke to a source this week who reports hearing a lot of grumbling from market participants that their systems are not as stable as they should be. This week has provided the first real test of system integrity since the roller-coaster rides that were experienced in 2008. While most thought they had shored up their systems, some have discovered that there are cracks.
The point is this: Use this crazy market as an opportunity to determine exactly where your systems stand. If this market is a precursor to something catastrophic, you don't want to be left in the lurch.
Anthony and James talk about how regulators in the US are falling behind other nations' regulators, the lack of talk about Reg AT, and an SRO for cryptocurrencies.Subscribe to Weekly Wrap emails