Print

Please login or register.
1 Hour 1 Day 1 Week 1 Month Forever
Login with username, password and session length

A

A

A

A

A

A

A

A

[LordSlowpoke]

not gonna link ft with its paywalls and other fuckery m8

[Loud Whispers]

We are all next

[smjjames]

http://money.cnn.com/2015/07/08/investing/nyse-suspends-trading/

The heck is going on?

Edit: Should that go in the American Politics thread?

Apparently computer glitches are hitting the NYSE, United, and WSJ, coincidence???

[Ukrainian Ranger]

http://money.cnn.com/2015/07/08/investing/nyse-suspends-trading/

The heck is going on?

!!!FUN!!!

[Loud Whispers]

DAMAGE CONTROL

[Ukrainian Ranger]

 Greek stock market is closed since June 26.

[wierd]

Sounds like somebody performed special boot option 4A on their Netapp storage controller.

https://kb.netapp.com/support/index?page=content&id=1011550&pmv=print&impressions=false

(The US stock exchanges use netapp filers. I know, I used to work for Netapp. They do this, because netapp storage controllers can be configured to use dedicated dark fiber links as the backbone network between storage controllers, allowing very high bandwidth communication between the exchange servers. Other high end storage solutions dont have this capability to my knowledge.)

[smjjames]

Sounds like somebody performed special boot option 4A on their Netapp storage controller.

https://kb.netapp.com/support/index?page=content&id=1011550&pmv=print&impressions=false

(The US stock exchanges use netapp filers. I know, I used to work for Netapp. They do this, because netapp storage controllers can be configured to use dedicated dark fiber links as the backbone network between storage controllers, allowing very high bandwidth communication between the exchange servers. Other high end storage solutions dont have this capability to my knowledge.)

So, in laymans terms, they got overloaded?

[palsch]

UK budget day.

The big headline (and part that surprised people so hasn't been hacked to death in the press already) is an introduction of the "National Living Wage", which isn't.

It's a really neat political move to be fair. They are stealing the name of the Living Wage. That living wage is measured against the Minimum Income Standard, a negotiated standard of living reached at by the Centre for Research in Social Policy through an extensive series of group interviews and research. It's currently used to accredit companies that pledge to meet its pay standards.

The Tory's "National Living Wage" is actually a fifth band to the current UK minimum wage rates, starting when you reach 25. It will start at £7.20 next year and increase to £9 in 2020. The current CRSP-suggested Living Wage is £7.85 outside London, and £9.15 in the city, with the rate constantly re-assessed as living standard expectations and costs change (so you can't really project as the government is). To add to that, the research based living wage includes a number of tax credits and benefits that will be stripped or frozen in this budget.

Combine that with it not benefiting the under 25s at all - the same group who are hardest hit by the benefit and other budget cuts - and calling this the living wage is laughable.

But at the same time a master stroke by the Conservative Party HQ, as it directly steals the thunder of one of the louder advocacy groups for better pay and standards of living.

[SirQuiamus]

END OF THE WORLD MASS HYSTERIA BUY OVERPRICED INVESTMENT GOLD FROM INTERNET HUCKSTERS ASAP

HAHA DISREGARD THAT I SUCK BUTTCOINS

[RedKing]

People are freaking out too much about the Shanghai market. Stock trading in China has NEVER been about the underlying financials or long-term investment. It's seen more as a game, a version of high-stakes pai gow for the nouveau riche with way too much money to spend. It's also still doing pretty damn well, comparatively speaking. The Shanghai index coasted along just above 2000 for the last couple of years, up till about 12 months ago, when it began skyrocketing, hitting a peak of 5166 about 3 weeks ago. It's currently at 3507, but that's STILL a 73% return on a 1-year timeframe. That's return completely divorced from economic reality.

tldr; Chinese stocks are all about speculation, hype and turning a fast buck and analysts in the West should know better than to fearmonger and panic.



EDIT: There's also the fact that foreign investors are mostly cock-blocked out of the Chinese markets by regulations, so this is rich Chinese people losing money that didn't really exist in the first place. It's only the size of China that, as with all things Chinese, makes it seem eye-popping. Such as the fact that the Chinese markets have lost an estimated $3.25 TRILLION in the last month. But again, that's a $3.25 trillion that really didn't belong there, because China is not growing at a 150% rate.

[Sheb]

Couldn't you say the same about the 2008 Crash? Or is the Chinese stock market different in that banks are less exposed to it?

[Loud Whispers]

RK this is just the beginning and it's already made tens of millions of Chinese poorer. And this is the beginning. On a 1 year time frame all but 8% of the year's gains have been wiped out and that number is still decreasing.

"The ideal situation would be several years of a steady bull market to cover the restructuring phase," Societe Generale's Yao Wei wrote in a recent note. "Conversely, the worst-case scenario would be a stock-market crash before restructuring has even begun."

The ripples this will cause across the world will strike hard like America. Europe is in for interesting times.

[Caz]

Under 25's aren't 'real' people, duh.

[wierd]

Sounds like somebody performed special boot option 4A on their Netapp storage controller.

https://kb.netapp.com/support/index?page=content&id=1011550&pmv=print&impressions=false

(The US stock exchanges use netapp filers. I know, I used to work for Netapp. They do this, because netapp storage controllers can be configured to use dedicated dark fiber links as the backbone network between storage controllers, allowing very high bandwidth communication between the exchange servers. Other high end storage solutions dont have this capability to my knowledge.)

So, in laymans terms, they got overloaded?

No, Special boot option 4A is the "Nuke it from orbit" option. "When you need to be absolutely sure(tm)."

It is for the following situations:

1) You purchased a second hand filer, and want it nuked form orbit.
2) You have decomissioned a previously in-service filer, and want it deployed elsewhere in a different fashion-- and want all data purged.
3) You are selling a filer that previously housed sensitive data, and want it completely purged before putting it on the market.

Again, it is the "Nuke from orbit" option. It completely erases all data on all disks attached to the storage controller. Not even netapp can restore it.