RE:Captain Saxberg hit an icebergDon't you folk know what is happening?
The market is screwed is what. It's the Flash Traders ..
An inverstor who can't take any more says it well ... as follows.
The rise of machine-based algorithmic trading is injecting so much volatility into oil markets, it's now difficult to produce returns by doing the type of fundamental analysis for which Hall is known, he told investors in a letter obtained by Bloomberg News. Hall confirmed in the letter he was shuttering his main hedge fund at Astenbeck after it reportedly tanked nearly 30 percent, Bloomberg reported. "Algorithmic trading systems have increasingly come to dominate," Hall wrote. "Investing in oil under current market conditions using an approach based primarily on fundamentals has therefore become increasingly challenging. It seems quite likely this will continue to be the case for some time to come." Hall is not alone. Many longtime oil traders have found themselves confounded by sharp price moves that run counter to fundamental signals like the balance of supply and demand, stockpile levels and disruptions in oil-producing regions, The Wall Street Journal recently reported. SH0RTBUS wrote:
Scott,
Please think about your long-suffering shareholders and resign.
Investor confidence will never be restored as long as you're at the helm.
You're rich, Scott. Many CPG shareholders are not. Do the right thing.
Thanks