GS Talk: Ken Griffin, Founder and CEO of Citadel

[Sekiyo]

“We don’t like zero commissions. We don’t like trading for close to zero bid ask spread. I think it should be more expensive to trade. It’s like a cigarette tax for stocks.” @ 14:30

Are you guys ready for increasing costs ?

 

[murray t turtle]

“We don’t like zero commissions. We don’t like trading for close to zero bid ask spread. I think it should be more expensive to trade. It’s like a cigarette tax for stocks.” @ 14:30

Are you guys ready for increasing costs ?

%%
LOL, good
We cross state lines just like he did ILL\ to FLA or another lowtax , no state tax .
MY parents never borrowed for college cost$ also.
Good thing i seldom try to pick socks like they did on WMT;
SPY is better this YTD

 

[TheDawn]

“We don’t like zero commissions. We don’t like trading for close to zero bid ask spread. I think it should be more expensive to trade. It’s like a cigarette tax for stocks.” @ 14:30

Are you guys ready for increasing costs ?

First of all, stock trading/investing is not smoking; it's a positive way to manage our wealth and at the same time channel capital to those who needed to make new and better things happen. So equating commissions to a cigarette tax which is designed to be punitive is misleading and inappropriate. The commissions we pay is like a service fee to help channel the funds from the provider to the seeker of the capital. The issue with the commission is not its cost or how expensive it is. The issue is with its transparency and appropriateness to the needs it serves and its fairness to all parties involved.

 

[murray t turtle]

First of all, stock trading/investing is not smoking; it's a positive way to manage our wealth and at the same time channel capital to those who needed to make new and better things happen. So equating commissions to a cigarette tax which is designed to be punitive is misleading and inappropriate. The commissions we pay is like a service fee to help channel the funds from the provider to the seeker of the capital. The issue with the commission is not its cost or how expensive it is. The issue is with its transparency and appropriateness to the needs it serves and its fairness to all parties involved.

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EXACTLY right[+ i used to smokeLOL];
but i think he was actually referring to SEC meddleMicroManage plan\
I'm nota market maker+ seldom daytrade much.
HOWEVER, current SEC did wisely \strangely lower fees so God bless them + KG.
I wish all USa gov would lower thier fees[income] like SEC.
KG invested in WMT good for him; I shop @ WMT but seldom do single stocks .
IS he same old line\
OH every time\
In It For Love or I'm Out of Here \Twain [Chicago Version+FLA Version]