Always in life, it is imperative that we accept the responsibilities we have, and we act accordingly to those responsibilities. Today is one of those days for me …
Last Friday, I expressed my anger at the lack of regulation in the electronic markets, specifically, the high-frequency trading that happens on a regular basis and on a huge scale. Okay, so expressing anger is a human reaction to a maddening thing, but, as I said, we all have responsibilities and we answer to those. My responsibility in this column is to you, the reader. My issue is my response to the market activities of last Thursday.
Part of my responsibility to you is to maintain a level of calm, as the world of trading is at its best when things are calm. I failed to remain calm last Friday. For that, I apologize. Without excusing my emotional writing, I offer that sometimes the reality of the trading world gets to me. The lack of regulation to protect all of us does tick me off, but I can, and will, find more subtle ways to express that.
Perhaps more importantly, I failed to remember that my audience is comprised of all manner of folks with worldviews distinctly different from mine. Now, this unto itself is a good thing, and I will never tailor my writing to match some bland persona so as not to offend. What I can do, however, is keep in mind that a certain level of decorum keeps everyone in the discussion, no matter the topic. Last Friday when I reduced my language to vulgarity to make a point, I breached that level of decorum. For that, I apologize to anyone I might have offended when I used vulgar language.
On a lighter note, I feel somewhat assuaged by the fact that I was not the only person angered by what happened last Thursday. In fact, I am willing to go out on a limb and predict that what happened will actually get me what I want, which is some regulation on the high-frequency trading activities. I predict we will see it sooner rather than later, and the result will be a good thing for all of us. It might not cause any of the 300-pound linemen to lose any weight, but it will level the playing field some 10 degrees or so. That unto itself will help the little guy like me to be more competitive with those big bullies staring us all in the face.
Trade in the day; invest in your life …
