Yes, but I assume it was all self-inflicted, as us
Post# of 11899
Yes, but I assume it was all self-inflicted, as usual.
The story can be found here
http://www.reuters.com/article/2012/07/18/us-...4X20120718
"Knight had to compensate its clients for losses that occurred when orders originally placed at high amounts on the Nasdaq were not filled until the price had fallen below that level."
About $35M in losses on the FB IPO. Its all rather suspicious to me. A likely story as it were, I much rather would choose to believe that they dipped into the cookie jar one too many times and their own inept management of their crony market games bit them in the.. shot themselves in the foot, etc. But this may have happened slowly over a long period of time and as things got worse they may have chosen to just use more power along the gambling and manipulating theme rather than immediately just properly cut losses and quit leveraging risk. I guess you make your bed, you sleep in it. All of these particular recent events completely killing the firms capital, down to Wednesdays fiasco is a little bit difficult to fathom for a predatory MM firm like Knight Capital. Me thinks something else much more sinister and involved is afoot, though just merely speculative guesses on my part. I guess you live by the sword, you die by the sword, etc....
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