James J. Angel Profile
James J. Angel

@GuFinProf

4,320
Followers
522
Following
729
Media
3,552
Statuses

Georgetown professor specializing in financial market structure and fintech

Georgetown University
Joined September 2009
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@GuFinProf
James J. Angel
4 years
#Bitcoin is the new Netscape: A great technical advance that will likely be superseded by other products, leading to big losses for those who get caught up in the bubble frenzy. The cryptos that pay off in the long run will be the ones that provide real utility and cash flows.
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@GuFinProf
James J. Angel
6 years
Good news for young retirement savers! Stocks are on sale today! Now you will get more shares for each dollar invested.
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@GuFinProf
James J. Angel
12 years
I'll be appearing on CNN International Business at 9:35 to discuss the Bitcoin bubble. #bitcoin
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@GuFinProf
James J. Angel
2 years
It's not @FINRA 's fault - they had no choice. My prime suspect is the management who engineered a security designed NOT to be traded. In order for a security to be tradeable, it has to be registered at @The_DTCC . Ask management why it hasn't done so. #MMTLP
@Shauna1361
StockVader
2 years
Can you bail me out of #mmtlp ? It’s been almost 100 days since @FINRA u3 halted the ticker to protect short sellers who printed upwards of a billion counterfeit shares. 48 hours for the wealthy banks, how long for the true tax payers. @GOPoversight @SenateBanking @SenFinance
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@GuFinProf
James J. Angel
6 years
Dragonchain CEO Joe Roets now speaking at DC Blockchain Summit. Most blockchain protocols are not yet suitable for serious business applications. Dragonchain provides flexibility. Watch it live now at @TheBlock__ @digitalchamber #dcblockchainsummit
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@GuFinProf
James J. Angel
1 year
@RareDealsHere @FINRA @FBIWFO @TheJusticeDept @SECGov @The_DTCC @Georgetown This is a completely fake slide. I did not create or present it. It does not present my views or those of Georgetown University. Anyone who retweets it is recklessly spreading false and defamatory information. You need to remove this tweet and stop your malicious defamation.
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@GuFinProf
James J. Angel
1 year
It is very sad to lose @harveypitt . Harvey taught me something very useful. He said "You can summarize U.S. securities laws in two sentences. One: IT shall be illegal. Two: The SEC decides what IT is. #harveypitt @HesterPeirce @GUFinPolicy @ltabb
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@GuFinProf
James J. Angel
6 years
@Kr00ney Jessop: @Fidelity worked out cold storage years ago because it was mining bitcoin. Separation of duties. Keys stored on devices that never touched a network. etc. Watch live @TheBlock__ @digitalchamber #dcblockchainsummit @WSJ @davidamichaels
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@GuFinProf
James J. Angel
2 years
There is a lot of misinformation floating around about #MMTLP . @FINRA just put this out: /1
@Timothy_jack
Jack 💎🙌
2 years
@GuFinProf @FINRA @The_DTCC You are just another person without all the info posting something public making you look unaware of all the facts. Completely typical in this situation.
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@GuFinProf
James J. Angel
4 years
Looks like I had some impact. :) @cfb_18 @robinsonmatt
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@GuFinProf
James J. Angel
6 years
@ryanzagone of @ripple : Regulatory certainty is a prerequisite for adoption. Countries are racing to provide that certainty. The future of finance is not in the US. @GtownLawIIEL @GeorgetownLaw @IMFNews @The_IFM #FintechWeek2018
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@GuFinProf
James J. Angel
6 years
@ryanzagone of @ripple : We see a shifting away from replacing fiat currency to connecting fiat. Traditional remittances required prefunding, the most expensive part. Connecting fiat currencies without prefunding. @GtownLawIIEL @GeorgetownLaw @IMFNews @The_IFM #FintechWeek2018
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@GuFinProf
James J. Angel
6 years
@ryanzagone of @ripple : @ripple is a software company. We just use crypto. #XRP existged before @ripple . We are moving toward open source. @GtownLawIIEL @GeorgetownLaw @IMFNews @The_IFM #FintechWeek2018
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@GuFinProf
James J. Angel
5 years
#bitcoin over $7K. Oh how I love the smell of tulips in the morning...
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@GuFinProf
James J. Angel
7 years
Stunning admission by Aetna $AET denial doc that never looked at medical records when denying claims. Aetna is toast.
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@GuFinProf
James J. Angel
4 years
For all of my market structure friends: Here is a nice geeky paper on the need for active quote protection in options markets.
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@GuFinProf
James J. Angel
3 years
Today's volume leader on the OTC market was $HCMC, Healthier Choices Management Corporation. They run vape stores.
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@GuFinProf
James J. Angel
2 years
Having fun reading @GaryGensler 's @SECGov market structure wish list. Does he really think the options market is a good model for equity market structure? @aosipovich @davidamichaels @TripleDTrader @daveweisberger1 @ltabb @drgoldstein @MichaelPiwowar
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@GuFinProf
James J. Angel
7 years
@JJohnsonNow Charities doing business in emerging markets are having problems with payments just because of where they are operating due to derisking @GUFinPolicy @ChamberDigital #DCBlockchain @msbgu #blockchain #bitcoin @pymnts
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@GuFinProf
James J. Angel
6 years
Proud of my @msbgu Global Executive MBA students who graduated today. Here we are visiting the @NYSE
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@GuFinProf
James J. Angel
7 years
SEC: If it looks like a duck and quacks like a duck, it's a security. #ICO #bitcoin @davidamichaels
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@GuFinProf
James J. Angel
2 years
@spritzfinance And just remember that every time you spend crypto to buy something you have just realized a taxable gain or loss for federal tax purposes. Have fun with the accounting!
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@GuFinProf
James J. Angel
3 years
Dan McNeal was a student of mine @Georgetown @msbgu @MSBalumni . He used to sit toward the back on the right hand side. He was working in the South Tower on #911 . We won't forget.
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@GuFinProf
James J. Angel
3 years
@aosipovich If you read the fine print, @public automatically signs you up for the stock lending program when you open an account. They don't accept PFOF, they just rent your shares to the short sellers.
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@GuFinProf
James J. Angel
6 years
@jswihart from @zcashco : PGP encryption was orginally seen as bad because criminals would use it. Now it is the foundation of financial transactions on the web. Regulators should embrace privacy. @GtownLawIIEL @GeorgetownLaw @IMFNews @The_IFM #FintechWeek2018
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@GuFinProf
James J. Angel
4 years
Tomorrow at lunchtime (12 noon ET) Georgetown is having a webinar to discuss the recent events in $GME #GameStop Sign up now at #gamestonk @GUFinPolicy @MSBalumni @davidamichaels @FT @ltabb @TripleDTrader @HesterPeirce @healthymkts @marketsmedia
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@GuFinProf
James J. Angel
3 years
Today is #crypto day at @Georgetown 's free and virtual Financial Markets Quality conference. Two present and two former SEC commissioners will be speaking. Fun starts @ noon. Register at #BTC @VitalikButerin @daveweisberger1 @matt_levine @CoinDesk @markets
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@GuFinProf
James J. Angel
3 years
@NeilJacobs So does bitcoin and all cryptos, because the protocols will change when it suits the majority of the miners. Even if the 21 mil #BTC limit is unchanged, unregulated fractional reserve banking in the #DeFi world can also lead to unlimited expansion of the BTC M1 money supply.
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@GuFinProf
James J. Angel
4 years
This is an important discussion. Who will pay for the stimulus give-aways? You will.
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@GuFinProf
James J. Angel
6 years
Craig Phillips of @USTreasury , key architect of the US Treasury's fintech report, now speaking with @ChrisBrummerDr . @GtownLawIIEL @GeorgetownLaw @IMFNews @The_IFM #FintechWeek2018
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@GuFinProf
James J. Angel
2 years
When all else fails, blame the market makers for doing their jobs. @citsecurities @VirtuFinancial and other MMs sued for allegedly spoofing $NWBO stock. @ltabb @Dougielarge @TripleDTrader @JustinRBLT @JoeRBLT
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@GuFinProf
James J. Angel
2 years
@dlauer @SECGov @TheJusticeDept As an $MMTLP shareholder, I could not agree more. Ask management why they won't let NXBR stock trade. Making a publicly traded entity untradeable without a shareholder vote is just plain wrong.
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@GuFinProf
James J. Angel
2 years
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@GuFinProf
James J. Angel
2 years
Today is the day for the Psaros Center for Financial Markets and Policy at Georgetown's annual Financial Markets Quality Conference. @SECGov Chair @GaryGensler is speaking now. @gufinpolicy @ProfAggarwal .
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@GuFinProf
James J. Angel
1 year
Today is last day for #LIBOR . An end to an era. And the beginning of a new era of competition in benchmarks. What benchmarks will dominate 5 years from now? @giancarloMKTS @paulkrugman @ltabb @aosipovich @TripleDTrader @GUFinPolicy @AndrewWLo @RobertJShiller @daveweisberger1
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@GuFinProf
James J. Angel
6 years
It's today in DC! The @Georgetown Financial Markets Quality Conference. Soon @nyse President @stacey_cunning , @sec_news Chair Jay Clayton, @finra CEO Robert Cook and MORE! You have to be here to experience it.
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@GuFinProf
James J. Angel
2 years
O market structure mavens! Help me understand why anyone would place a displayed pegged order away from NBBO. How could it ever execute? Isn't that automated spoofing? @ltabb @miax @TripleDTrader @drgoldstein @daveweisberger1 @dlauer @JustinRBLT @JoeRBLT @SEC_DERA @GaryGensler
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@GuFinProf
James J. Angel
9 years
@FirstLordBot @nanexllc If Hillary is elected President, Bill will be the First Ladies' Man.
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@GuFinProf
James J. Angel
4 years
Have you noticed that $GME was the recycled ticker symbol from GM Class E shares? Is that ticker cursed? 😀
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@GuFinProf
James J. Angel
2 years
@GaryGensler You mean you are going to force retail orders into 100-300 millisecond flash auctions that only the flash boys are able to participate in. I'm surprised that the Reddit/Twitter mobs haven't revolted over this.
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@GuFinProf
James J. Angel
5 years
We should name the Consolidated Audit Trail CAT Schrodinger as we don't know if it is alive or dead. @HesterPeirce @SEC_News @ltabb @traders_tweets
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@GuFinProf
James J. Angel
7 years
Panel discussion with @MSBAlum MSB Alumni and Professor Allan Eberhart as part of the preparation for our Master of Science in Finance global residency in South Africa and Namibia. @GeorgetownMSF @Georgetown @msbgu
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@GuFinProf
James J. Angel
7 years
Today is The Day! @NYSE classic will start trading Tape B (Amex ) and C ( @Nasdaq ) stocks on the NYSE floor's Pillar system. That means $GOOG and $FB can now trade on the NYSE floor system. But to get DMM services, issuers still have to pay listing fees. @ltabb @marketsmedia
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@GuFinProf
James J. Angel
7 years
Stock market declines are great news for young retirement savers because they get to buy in at lower prices.
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@GuFinProf
James J. Angel
3 years
Surprised I haven't gotten 500,000 comments from #bitcoin maxis on this reminding me what an idiot I am for not loving the energy wasting crypto. It has been interesting to watch the narratives come and go over time. Remember when the story was payment medium and micropayments?
@GuFinProf
James J. Angel
3 years
Well, so much for #bitcoin being uncorrelated with stocks. Here are the rolling 36 month correlations between GBTC and SPY from portfolio visualizer.
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@GuFinProf
James J. Angel
6 years
I know this guy...
@GeorgetownMSF
Georgetown MSF
6 years
Investments is more than stocks and bonds. Learn more on our website: @msbgu
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@GuFinProf
James J. Angel
1 year
The speaker list for our annual Financial Markets Quality conference through the @GUFinPolicy Psaros Center for Financial Markets and Policy at Georgetown is really shaping up. It will be a dynamite conference. Check out the agenda at
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@GuFinProf
James J. Angel
6 years
Looks like the stock market is having another sale! This is good news for young retirement savers like me because it means I will get more shares when this month's retirement investment is made out of my payche . :)
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@GuFinProf
James J. Angel
8 years
One week from now: Really cool evening @ChamberDigital event on #smartcontracts coming up Mon Dec 5 in NY #FinTech
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@GuFinProf
James J. Angel
8 months
@SECGov cited my comment letter 20 times today in adopting the new Rule 605.
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@GuFinProf
James J. Angel
6 years
Rob Palatnick of @The_DTCC : We look at distributed ledger technology as an improvement in the operations of the market. @GtownLawIIEL @GeorgetownLaw @IMFNews @The_IFM #FintechWeek2018
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@GuFinProf
James J. Angel
3 years
#bitcoin dropping again. Now down almost 50% from its all time high. So much for a store of value.
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@GuFinProf
James J. Angel
3 years
This is one for my market structure geek friends. I've never seen a trade halt before for "inconsistent minimum price variation." Any idea what happened here with $HTZ? @TripleDTrader @ltabb @daveweisberger1 @drgoldstein @streetwiseprof @aosipovich @davidamichaels @RBLTSecurities
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@GuFinProf
James J. Angel
6 years
It's tomorrow @georgetown ! The most fantastic market structure conference ever! Jay Clayton Robert Cook @stacey_cunning and more!
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@GuFinProf
James J. Angel
7 years
Here is a hilarious video in which Burger King explains net neutrality. I'm sure that my policy expert friends can point out the nuances and mistakes in this, but it's entertaining nonetheless.
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@GuFinProf
James J. Angel
3 years
@memxtrading sends out a warning to not send a high volume of test symbols such as $ZVZZT (one of my favorite stocks 😉). Has someone been quotestuffing with test symbols? @ltabb @TripleDTrader @aosipovich @davidamichaels @healthymkts @nanexllc @JoeSaluzzi @AplombStrat @JoeRBLT
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@GuFinProf
James J. Angel
6 years
Sheila Bair: I'm not optimistic on international regulatory coordination. We can't even do it domestically. @GtownLawIIEL @GeorgetownLaw @IMFNews @The_IFM #FintechWeek2018
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@GuFinProf
James J. Angel
6 years
Important statement by 2 of the 5 SEC commissioners about whether we still need the so-called Order Protection Rule. My take is that we should replace it with an improved Rule 606 to give retail investors useful execution quality info.
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@GuFinProf
James J. Angel
2 years
The NMS proposal was known as The Battleship. Today's @SECGov launch of an equity market structure armada has been postponed till 11am. Let's use #SECArmada as a hashtag. @ltabb @aosipovich @MattGoldstein26 @Dougielarge @TripleDTrader @JoeSaluzzi @daveweisberger1 @carlcarrie
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@GuFinProf
James J. Angel
6 years
The CAT is out of the Thesys bag. @finra is taking over. Will they re-engineer it or take over where Thesys left off. I've often thought that all we really need is an upgraded OATS.
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@GuFinProf
James J. Angel
2 years
@SECGov will vote next Wednesday to propose BIG CHANGES in US Equity Market Structure: Auctions, tick sizes, BestEx, and more. Expect 1000 pages of holiday reading. @ltabb @TripleDTrader @JustinRBLT @drgoldstein @AplombStrat @davidamichaels @aosipovich
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@GuFinProf
James J. Angel
2 years
Many observers bemoan the lack of regulatory clarity in #crypto . Unfortunately for the crypto bros, we do have clarity: Our @SECgov says everything is a security. Sigh...
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@GuFinProf
James J. Angel
4 years
@fintechfrank Some hedge funds are. Others are atttempting to ride the wave. As one hedgie told me "When the herd is moving through the gate, get on a cow and enjoy the ride."
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@GuFinProf
James J. Angel
3 years
Proposed crypto law bans unapproved stablecoins, making room for US #CBDCs . Just buying or selling one will be illegal. Goodbye @Tether_to
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@GuFinProf
James J. Angel
4 years
Today is the day! Today at 12 noon @Georgetown @GUFinPolicy is presenting a webinar on the impact of retail investors where we will discuss the impact of #gamestonk Register now at @TripleDTrader @ModernMarkets @healthymkts @nyse @nasdaq $GME
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@GuFinProf
James J. Angel
5 years
Tomorrow in DC is another great market structure event. @georgetown @GUFinPolicy is holding its annual Financial Market Quality Conference with an all star cast. More details at
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@GuFinProf
James J. Angel
9 years
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@GuFinProf
James J. Angel
4 years
Melvin started shorting #GameStop in 2014 at $40. Why did they not cover the short when it hit $4 in 2020? Probably taxes. Short sellers are not taxed on their unrealized profits, even though they have the cash. Loophole should be plugged by marking to market annually. @FSCDems
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@GuFinProf
James J. Angel
4 years
$GME #GameStonk back at $200.
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@GuFinProf
James J. Angel
7 years
At @georgetown @msbgu @msb_mba we keep our curriculum up to date with fintech.
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@GuFinProf
James J. Angel
6 years
"The Rise of Smart Legal Agreements" at the DC Blockchain Summit. Watch it live now at @TheBlock__ @digitalchamber #dcblockchainsummit
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@GuFinProf
James J. Angel
4 years
Warren Buffett #berkshire2020 "When someone offers you more than the yield on Treasuries, there is a reason for it. It's called risk. "
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@GuFinProf
James J. Angel
6 years
Big brokers pay about $0.17 per customer per month for SIP data, about the cost of a sip of Starbucks. @ltabb @traders @davidamichaels @JoeRBLT
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@GuFinProf
James J. Angel
3 years
Dear Mr. Putin: Welcome to Ukrainistan. Even if you prevail in a few skirmishes at great cost, you cannot win. Just like Afghanistan. @KremlinRussia_E @GovernmentRF @rt_america @rt_com @nytimes @washingtonpost @DefenseHQ @KyivIndependent @KyivPost #StandWithUkraine
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@GuFinProf
James J. Angel
7 years
#bitcoin proponents love the idea of unregulated markets. They must love the spoofing, wash trades, pumping&dumping, and manipulation currently going on in the bitcoin "exchanges."
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@GuFinProf
James J. Angel
3 years
@TripleDTrader @ltabb @daveweisberger1 @drgoldstein @streetwiseprof @aosipovich @davidamichaels @RBLTSecurities It turns out that there is some confusion among the exchanges as to whether this is a penny tick or nickel tick option, so they halted trading to figure it out.
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@GuFinProf
James J. Angel
7 years
"The Trading Game" A really cool WLS7 TV broadcast (including ads) from 1987 showing what it was like in the Chicago pits in those day.
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@GuFinProf
James J. Angel
7 years
Great article about IEX on its first anniversary:
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@GuFinProf
James J. Angel
3 years
FLASH FRIDAY: Georgetown Prof Has a Thing For Exchanges via @Traders Magazine
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@GuFinProf
James J. Angel
3 years
It is sad that many don't understand how risk management tools like futures can help producers like farmers produce more food by taking price risk away from them. Futures provide a way for farmers to get price insurance. @Cougar_milk @aosipovich
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@GuFinProf
James J. Angel
1 year
The options markets new rules for trading options on IPOs are just in time for the $ARM IPO. @ltabb @JustinRBLT @markets
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@GuFinProf
James J. Angel
4 years
6 IPOs on @Nasdaq and 1 on @NYSE American today. 6 #SPACs and 1 real company that is losing money. Reminds me of the good old days of the dot com boom when companies with "topless" income statements (no revenue) went public. $ADRA $KVSC $ACVA $CRZNU $KVSB $DCRCU $DISAU
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@GuFinProf
James J. Angel
2 years
@Kristouk Your bots are busy today!
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@GuFinProf
James J. Angel
6 years
Welcome back to the National Stock Exchange (f/k/a Cincinnati), the nation's first all electronic stock exchange, now part part of the $ICE. Starts taker maker trading today on @NYSE Pillar. @traders_tweets @davidamichaels @ltabb @ThomasFarley
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@GuFinProf
James J. Angel
7 years
#bitcoin futures start Dec 11 on @cme . Here are the specs:
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@GuFinProf
James J. Angel
1 year
This is my district. The rising violent rhetoric and political violence reminds me of Germany in the 1920s when violence became a standard political tactic. The rest is history.
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