Monthly Archives: November 2018

Another Old-School Financial Market Solution for After the Reset: Go Back to Eighths

(Great suggestion across the transom from a long-time reader.  Who remembers watching the CNBC ticker in the afternoons for the closing stock prices back before the innerwebz?  Remember the eighth and sixteenth quotes?)

Ann,

You seem to keep a running list of financial market solutions/changes after some economic ‘reset’ (e.g., open outcry, mark to market, etc).  As a former NASDAQ market maker in the 90s, one of my solutions is to go back to increments of 1/8 for equity prices (or 1/16 for sufficiently low price stocks).  This would solve our seeming indifference to being sheared on trades by algos or banks by .05 or .01 or even thousandths of a dollar in some cases.  Being robbed by a more significant amount like an 12.5 cents would certainly make a buyer or seller of stock more likely to notice and resist. 

I look sentimentally back on the 1/8ths.  It was something that made Wall Street unique.  Remember asking what the market was and hearing “1/8 to 3/8, 400 by 200?”  

If you see merit in this small improvement please add it to your list.

God bless from a huge fan,

Polack in NY

Deprivation, Delay, Pain and Joy

“The more one longs for a thing, the more painful does deprivation of it become. And because after this life, the desire for God, the Supreme Good, is intense in the souls of the just (because this impetus toward Him is not hampered by the weight of the body, and that time of enjoyment of the Perfect Good would have come) had there been no obstacle; the soul suffers enormously from the delay.”
St. Thomas Aquinas

I do not think that part from the felicity of Heaven, there can be a joy comparable to that experienced by the souls in Purgatory. An incessant communication from God renders their joy more vivid from day to day: and this communication becomes more and more intimate, to the extent that it consumes the obstacles still existing in the soul….On the other hand, they endure pain so intense, that no tongue is able to describe it. Nor is any mind capable of comprehending the smallest spark of that consuming fire, unless God should show it to him by a special grace.
– Saint Catherine of Siena

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Hostias et preces tibi, Domine, laudis offerimus.
Tu suscipe pro animabus illis, quarum hodie
memoriam facimus,
fac eas, Domine,
de morte transire ad vitam quam olim Abrahae promisisti et semini ejus.

We offer Thee, O Lord,
sacrifices and prayers of praise;
do Thou accept them for those souls
whom we this day commemorate;
grant them, O Lord,
to pass from death to the life which Thou once didst promise
to Abraham and his seed.

Second half of the Offertory of the Feast of All Souls