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Old Jan 15th, 2012, 11:14 AM   #37
failed_trad3r
 
 
Join Date: Oct 2009
Posts: 1,796
A transaction tax isn't that bad for real investors. In fact, the effect might be negliable.
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Old Jan 15th, 2012, 11:20 AM   #38
bwolinsky
 
 
Join Date: Jul 2008
Location: KCMO, Kansas and Kentucky
Posts: 4,935
Quote:
Quote from failed_trad3r:

A transaction tax isn't that bad for real investors. In fact, the effect might be negliable.
Negligible? The effect is to remove liquidity signifcantly, and never see any moves up ever again. Markets don't move if nobody's trading, and that's what you have. Negligible in the sense of transactions cost; a real headwind for anyone in the market.

You're so naieve.
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Old Jan 15th, 2012, 01:44 PM   #39
FightTheFuture
 
 
Join Date: Jun 2006
Location: USA
Posts: 1,751
Quote:
Quote from failed_trad3r:

A transaction tax isn't that bad for real investors. In fact, the effect might be negliable.
Annual cost of EU FTT: money market 7.82 percent, equity 2.57 percent. "Moreover, Joanna Cound, managing director, government affairs and public policy at BlackRock, argues these costs are “the tip of the iceberg”
http://www.ft.com/intl/cms/s/0/54e1a...#axzz1jLVRc4gG
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Old Jan 15th, 2012, 02:38 PM   #40
failed_trad3r
 
 
Join Date: Oct 2009
Posts: 1,796
Quote:
Quote from bwolinsky:

Negligible? The effect is to remove liquidity signifcantly, and never see any moves up ever again. Markets don't move if nobody's trading, and that's what you have. Negligible in the sense of transactions cost; a real headwind for anyone in the market.

You're so naieve.
a transaction tax is basically a doubling or tripling of commission. for most, and a milleniumnning of HFT commissions. If you go back to 1980 you had the same situation, and the market did just fine. fear is overrated. sure in 1980 you didnt had daytraders, they will die.
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Old Jan 15th, 2012, 02:40 PM   #41
lindq
 
 
Join Date: Mar 2002
Posts: 2,517
How about we keep these FTT comments on the thread that's already being widely followed instead of starting another?

Please post to:

"1/4% Tax on all stock trades pushed in NY Times today."
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Old Jan 15th, 2012, 02:51 PM   #42
gkishot
 
 
Join Date: Jul 2005
Posts: 1,831
Quote:
Quote from failed_trad3r:

a transaction tax is basically a doubling or tripling of commission. for most, and a milleniumnning of HFT commissions. If you go back to 1980 you had the same situation, and the market did just fine. fear is overrated. sure in 1980 you didnt had daytraders, they will die.
Transaction tax is totally not the same as doubling or tripling of commission. This is more equivalent to increasing buy/sell spread, where loss on transaction is percent of position amount.
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