Whenever you ask someone to think of stock trading, they always picture this image: men acting frantically with pieces of paper in one hand and a phone in the other while being surrounded by a gazillion screens displaying the latest risers and fallers.
The truth is that floor traders are threatened with extinction as computerized trading has increasingly replaced them. Computers don’t give a damn about the long-term outlook of a stock or a portfolio, but are programmed to react to minute price changes in microseconds. Systematic trading netted a guy like Dr. Jim Simons of Renaissance Technologies a whopping $2.8 billion in 2008.
Don’t get me wrong, this is not a rant against systematic trading. In fact, now there’s a way to relive the old days of trading. Sort of.
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Dutch airline Transavia held an online contest to determine their new slogan. The campaign was wildly successful with over 100,000 submissions. Some of the entries were even printed onto billboard ads.
You’re sitting at a table in a restaurant with a friend. You’re talking about cars and you mention the new BMW you just leased. A car salesman happens to walk past as you mention the word BMW. He grabs a chair and joins your table.
