Bill Blain: “Some Of The Ongoing Market Evolution Really Scares Me”

Tuesday, October 24, 2017
By Paul Martin

by Bill Blain of Mint Partners
Oct 24, 2017

“Rate yourself and rake yourself, take all the courage you have left, wasted on fixing all the problems that you made in your own head.”

All the usual uncertainty, but are global stocks really so highly overvalued relative to GDP?

I’ve just spent the last week in the US, and it’s been a fascinating experience talking with clients and colleagues in the Big Apple. The key takeaway is I’m going to have to spend less time in the office and more time on the road listening (note – key word: LISTENING) to clients. There is a danger sitting comfortably here in my Canary Wharf eyrie means I’m missing much of the good and bad market evolution that’s going on.

I’ve come back with a whole host of new ideas, opportunities and contacts, but also a whole Pandora’s box of new things to worry about…

Some of the ongoing market evolution really scares me. Like the significance of the fragmentation of markets into smaller and smaller liquidity pools. Combined with trade-frustrating regulation, it’s just downright dangerous. But, that’s why we have market crisis – nothing a good punch in the nose for regulators to learn just how absolutely ferking wrong they have been. Problem is, much of danger lies so far below the visible surface, I’m not convinced markets really understand how potentially one-way current stock trading has become.

It’s not the regulators fault. They are just trying to make a safer world, based on what they know. Which sadly means cleaning up the last crisis – and fighting the next war with the weapons of the last one is never conducive to victory.

The Rest…HERE

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