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Thus sayeth the lord? That's really more of an abrahamic pronouncement than a reason, the state determines what happens to property both during life and after death all the time. Ever try to build a factory on that R-1 zoned residential lot you "own"? Hell where I live you need permission from...

Why is it ludicrous to ask why Paris Hilton is either morally entitled to her father's fortune, did anything to earn or deserve it, or if society is best served by passing her father's fortune on to her? Those all seem like imminently reasonable, if somewhat inconvenient, questions? Don't lose...

You're purposely ignoring my main point which is why the child deserves to get their parent's money despite having done nothing to deserve it or earn it besides the accident of birth to the right parent's and despite the suboptimal nature of such an arrangement. Which tells me you don't have a...

You suffer from a pretty viscious adverse selection effect when you're a market maker. There's a good deal of academic research published on the effects, most if not all of which has been incorporated into the algorithms that now do market making. Not to say it's not worth looking at, especially...

My question is why a child morally deserves to inherit their parent's wealth, take the state out of it entirely for now? I not only see no moral justification for it, but in fact it seems both morally unsupportable and societally suboptimal on nearly every level. Because something is "a general...

Thanks, for the link and for bringing up the topic.

Thanks for pointing out my U.S. centric mindset, hate it when I do that! Do you know which countries specifically this arbitrage is happening in? It sounds interesting and I'd like to do some research into it.

The interesting question is why? Why does a child have an inaliable right to their parent's wealth? Why does Paris Hilton have a right not to have her father's wealth redistributed to those who either need it more or who can use it more productively? It makes intuitive sense that redistribution...

Since most members of the public eat food and use energy, and both those industries benefit greatly from a regulated futures industry, pretty much anyone but the Amish and a few Kacyenski types "use" this service. Just like they "use" the military, FDA food and drug regulation, national nuclear...

As Robert pointed out, the fact is that the stock does drop the amount of the dividends. Why? As Robert mentioned, not everyone in the market is in a taxable account, for example the top 5 university endowments are over $100B combined, those are tax free accounts. But even for those paying tax...

So why does the kid who by accident of birth have rich parents deserve anything, as opposed to the kid born in West Virginia to a heroin addict? I didn't use the word "earn" lightly and neither did you, it carries the strong connection that the recipient somehow worked to get it and or deserves...

That's an interesting viewpoint. You have no problem then, I take it, with a 100% inheritance tax because a rich kid by accident of birth didn't "earn" anything?

The CEO of SHLD has got to be the worst leader in a major CEO position today. They're also playing some weird games with their debt, some of it is in technical default in order to refi other debt, so they're already playing junior holders against senior and they're supposedly still solvent. I...

Sorry to jump in late to the thread @Slartibartfast, very interesting stuff and thanks for getting the conversation going. A couple thoughts for what they're worth... 1. Do something entrepreneurial. Perhaps better for your situation is to do something entrepreneurial in the social enterprise...

While the spot price of a treasury may vary as interest rates change, a treasury held to maturity will never lose value and always return the full principal and stated interest (if not then we've probably got more to worry about than SIPC insurance!). Not for nothing they refer to that as the...

He're the deal. I run a business which has a significant software component. I wrote some of that, and understand all of it. I'm an electrical engineer, and actually understand exactly what's going on at the packet level with the TCP/IP protocols (as well as a few others). If you'd like to...

If you love your VPN, great. But please, just stop with the conflating things that you don't know anything about. A VPN provides you two things, it ensures that your traffic is encrypted between your computer and the VPN's server, and your traffic comes from the VPN's server IP address rather...

It's amazing how vapid the financial press is that they don't get this fundamental aspect of trade economics. What a waste of ink!

There is a simple solution to this that doesn't require one to get spun up about any insurance issues mentioned so far. You simply buy Treasuries in your name, which will remain yours no matter what happens to the firm or what insurance protection they have. You then use that for collateral to...

I see a parallel with solar panels. Plain old silicone solar panels were $6/watt in 2008, conventional wisdom is that we'd need to invent some exotic new tech to get it down much and a bunch of VC backed companies worked to do that. Meanwhile with pure scale and effficiency, plain old silicone...