Back in the Saddle Again

So I was away all last week on vacation visiting family in Raleigh, and mainly sitting on a couch and watching the NFL draft. Like I've said before, it was glorious.

As a result of my absence, I don't really know what's been happening in the world and I'm only acclimating myself now. But as I've been catching up, there are two stories that especially caught my eye from last week.

First, BGC announced its Q1 results and there were a couple of interesting tidbits. First, it plans to sell Trayport, which is an electronic energy-trading venue that was brought on after the much-discussed (please, no more) GFI acquisition. The sale should occur before the end of the year.

BGC CEO Howard Lutnick also noted that technology and infrastructure functions between GFI and BGC are already being integrated, which should lead to reduced expenses of $50 million a year by Q1 2016. Also, it will continue to convert voice and hybrid broking to fully-electronic trading.

BGC should be one of the most interesting sell-side players to pay attention to in 2015. As soccer announcer Ray Hudson likes to say, "DRAMATIC SCENES!"

In other news, the first bitcoin-based security was authorized to launch on a regulated exchange. Stockholm-based XBT Provider will be rolling out Bitcoin Tracker One on the Nasdaq Stockholm exchange next month.

Read below in the "Five Random Thoughts/Links" section, but there is a big story on this coming out on WatersTechnology in the coming days. Cyber security will always be a hot topic, but Bitcoin is the topic of the future.

Five Random Thoughts/Links

* From the New York Times, first this: "The top 25 hedge fund managers reaped $11.62 billion in compensation in 2014."

Nicely done. Bravo.

And then this: "Only half of the top 10 [hedge fund managers] recorded returns that exceed that of the S&P 500."

Booooooooo....

* Speaking of NYT, this weekend's New York Times Magazine was dedicated to the future of "money". Definitely some interesting stuff in there, but my favorite was on Argentina's adoption of Bitcoin to help vendors overcome onerous government restrictions on receiving money from abroad.

On a side note, my colleague Tim Bourgaize Murray will be publishing a long feature on bitcoin (and blockchain technology) in the capital markets space...definitely keep an eye out for it.

* I had Floyd Mayweather beating Manny Pacquiao nine rounds to three. Was it a dull fight? Yes. But if you went into it thinking that this was going to be a war, that was foolish. No buyer's remorse is allowed on this one.

We were all hoping that it would've been more competitive, but blame Pacquiao (and his apparently bum shoulder) and not Mayweather, who fought like his normal, defensive, brilliant self. His beta strategy beat Pacquiao's alpha strategy. (Does that work? I don't know, but I really wanted to slip in a finance reference.)

* This was a really great weekend for me. I know that YOU really wanted to know that. The NY Rangers beat the Washington Capitals (we'll ignore Monday's result), the Houston Astros ran their winning streak to 10 games (again, we'll ignore Monday's result), you had the Mayweather-Pacquiao superfight (I actually enjoyed it, but I'm weird) and I hit both the exacta and trifecta for this year's Kentucky Derby (and American Pharoah is a true Triple Crown candidate). Oh, and I absolutely smoked my girlfriend and best friend in bocce on Sunday. Good weekend.

* My time down in Raleigh was quite relaxing, thank you very much. And for anyone wondering, my two favorite beers I had down there came from Asheville breweries: Wicked Weed and Green Man Brewery. I highly recommend.