Greetings, fellow sharks.
At least, I think we're sharks. We like to think we're sharks, surely.
We've seen the big picture and we're braving the waters of FX
to secure a better life for our family, and to buy that beautiful villa
in Nice so we can retire in luxury. We know what the score is. We see
the forest for the trees.
Not so fast.
This is from Alphaville, the Financial Times blog. I just discovered
it today during some mental downtime at work. If you ever needed
anyone to verify what you've always suspected, here it is.
Some clever wag checked out the IPO prospectus for a certain
forex broker and found that while they promise us integrity,
they promise investors that
And how successful is it?
That's your pension they're eating. Perhaps now we'll
admit that Balzac had a point.
For the full article, click here.
At least, I think we're sharks. We like to think we're sharks, surely.
We've seen the big picture and we're braving the waters of FX
to secure a better life for our family, and to buy that beautiful villa
in Nice so we can retire in luxury. We know what the score is. We see
the forest for the trees.
Not so fast.
This is from Alphaville, the Financial Times blog. I just discovered
it today during some mental downtime at work. If you ever needed
anyone to verify what you've always suspected, here it is.
Some clever wag checked out the IPO prospectus for a certain
forex broker and found that while they promise us integrity,
they promise investors that
QuoteDislikedThe majority of our revenue is derived from our activities as a
market-maker to our retail customers, where we act as the
counterparty to our customers’ trades.
And how successful is it?
QuoteDislikedOur total annual customer trading volume, which is based
on the U.S. Dollar equivalent of notional amounts traded,
grew from $120.3 billion in 2004 to $1.49 trillion in 2008,
representing a compounded annual growth rate of 87.6%.
That's your pension they're eating. Perhaps now we'll
admit that Balzac had a point.
For the full article, click here.
Life happens at the level of events. Trust only movement. - Adler