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Trading of QQQQ ends at 4:00PM but the SPDR (SPY) ends at 4:15PM. For MOC orders (market-on-close), different closing time does make difference because price sometimes moves a lot between 4:00 - 4:15. What determines a stock's closing time? QQQQ and SPY are traded on multiple platforms. Which...

IB provides two format, text and XML, for a flex statement, where I can get a statement with nothing but selected few fields of my trade transactions. The problem is neither format seems to be user-friendly. I can not import the text format into an Excel spreadsheet with a nice layout. And I...

I agree. It all started from the world-wide collapse of communism and the development of globalization (i.e. world-wide spread of capitalism.) This has benefited upper class both in US and China enormously (to less extent, middle class in China) at the expense of US middle class and lower class...

One of my friend told me that some of his company’s workers in Japan have big safes in their home just to store cash. The negative nominal interest rates reflect the storage cost.

They are all part of the world wide asset bubble, be it equity, bond or real estate.

traffic or "congestion within the ISE order system", or whatever you call it.

The right thing for ISE to do is to use the fee to upgrade their systems. And then reduce the fee once their system can handle large traffic. The fee makes some sense as it's fair in that if you use more you pay more. But the current cancel fee is too high.

Under-valued Yuan is unfair to US labor that competes with Chinese workers but is good to US companies that offshore to China. That’s why I don’t see much would be changed - Except that a floating Chinese currency is the best way for the US to defeat the “Chinese Threat”. Japanese...

The under-valued Yuan benefits some (shareholders) in the US and hurts others (labors). The same can said in China. Some estimation puts some 30% of the value of Chinese import actually goes to US companies that have their factories in the China. There are some Chinese brands in the US but...

“utility from owning your dream home” is a good argument that the cash flow model does not measure. The “build equity” part, however, is accounted by the model. The mortgage payment should (i.e. if the rental reflects the fare market price) slightly higher than rental. This difference...

Me included as well.

I understand the frustration if someone just want to split the bid/ask and need to adjust their orders. This fee, which is meant to deter pseudo market makers, can really hurt. But options market making is traffic intense. I don’t know for a fact but I would not be surprised that ISE...

Not yet. People are developing automated order cancel/resubmit programs that work like market makers. This cancellation fee is meant to deter them. Put in another way, without the fee the ISE will have network traffic problem once these programs are up-running. Options market making is very...

That's the reason. "they don't want non registered traders from attempting to be pseudo mkt makers." It does cost ISE in terms of increased network traffic, which is huge for an option trading platform.

The value of a residence is the present value of rent you would pay for it. In real world, a single family house is hard to figure out the equivalent rental rate though, but in theory cash flow method is still the way to value it.

I like the phrase "Japanese conundrum". And I like to hear from some experts' explanation on this too. There are so many conundrums these days. Not good.

It will be either deflation followed by hyper-inflation or, with less probability, hyper-flation followed by deflation. What I’m really concerned is how bad the US economy and hence the world economy will go. It could turn out like World War Two except it’s China (Germany) vs. US...

Printing money works when household / business want to borrow. i.e. individuals feel their job security in the future and business see growth ahead. When asset bubbles stop growing, individuals will stop borrow and start to pay down debt / saving. That’s when deflation kicks in. The central...

It is a political decision as you pointed out. With conservatives in power in the US, the huge debt of middle / low class families is not going to be inflated away. So deflation seems to me a more likely outlook. On the other hand, the US dollar could be devalued against currencies of...