“What we can say is that when things work in new ways, they break in new ways,” Alexis Madrigal wrote in The Atlantic after a glitch waylaid the NASDAQ stock exchange for three hours in 2013, causing a panic.
Author: Edouard Chazal
Bill Gross Didn’t Short China
‘‘Woulda coulda shoulda,’’ he said. ‘‘Obviously I wish I’d shorted a bunch of shares but that’s the bane of the portfolio manager: never happy.”
Robots On Wall Street ?
As automation in financial services grows, computers and algorithms have taken on some of the traditional work of traders, clerks and financial advisers. Now, a host of startups that use artificial intelligence to write news stories and other reports have set their sights on writing work at banks and financial-service companies.
The Bloomberg Terminal : Inside The Esoteric Ecosystem That Keeps Finance Hooked
Even high culture has acknowledged its status. Last week the Smithsonian’s National Museum of American History started displaying the old Bloomberg keyboard of bond market legend Bill Gross as part of its “American Enterprise” exhibition.
For bankers, traders and money managers, these examples of the terminal’s ubiquity are entirely unsurprising, with many admitting a near-addiction. “I genuinely don’t know how I’d manage without the terminal,” says Matt Russell, a fund manager at M&G Investments in London. “It’s quite sad, really.”
Europe Should Welcome Greece’s Vote
In reality, both Greece and the rest of the eurozone should treat the Greek vote as an opportunity to rethink the malfunctioning euro project. They can find a common interest in making it as painless as possible for Greece to leave the euro — both to lessen the suffering of ordinary Greek people and to establish a model that other countries might be able to follow in the future. For Greece is not the only country struggling to cope with a currency union. The current crisis could be a chance to show there are ways out of the euro that could benefit all sides — those that leave the currency union and those that stay.
Abnormal Capitalist 