Noise trader risk has influenced my portfolio performance. I have not attempted an arbitrage strategy because I cannot guarantee that the markets resolve the arbitrage within the timeline of the portfolio project. #rpiFTI

Blockchain technology could be the future for securities exchanges if the SEC can figure out a way to impose regulatory oversight in these new exchanges without curbing the additional benefits of this technology. crsreports.congress.gov/prod… #rpiFTI

Individual investors and traders do not need their liquidity filled within microseconds. HFT is profitable for the elite at the expense of potential market failures (ex. 2010 flash crash & misuse of human capital) and under the guise of unnecessarily "improved" liquidity. #rpiFTI

I believe dark pools are good for capital markets because traders cannot be caught up by investor sentiment. This reduces the anchoring effect and improves price discovery upon the fundamentals of a security. investopedia.com/terms/a/anc… #rpiFTI

In early August, Nasdaq bought a minority stake in ATS, a US equity dark pool. This suggests that more traditional stock exchanges are exploring dark pool trading space and increasing the volume of hidden trades. thetradenews.com/nasdaq-acqu… #rpiFTI

For my IBKR paper portfolio, I have been practicing a more passive investing style. As a result, I have incurred no implicit trading costs (zero commission) and little implicit costs because of how liquid my positions are. I have not realized any capital gains/losses yet. #rpiFTI

To buy $100,000 of $SAVA, I would place a market order for 1637 shares. The VWAP is $61.06 whereas the market price is $60.77. I am willing to pay a 0.50% premium on every share to ensure execution of this small cap security. #rpiFTI

I chose to look at the bid-ask spread of $TSLA's 5 year CDS. Both the bid and ask spiked in Q4 2020 but fallen over the past year, which suggests that the stock is less distressed. #rpiFTI

I applied put-call parity to shares of Berkshire Hathaway $BRK-B. The current price is $277.74 and the synthesized price from options expiring September 16th, 2022 at $280 is $280.33. This small 0.9311% disparity is likely explained by relevant trading costs. #rpiFTI

$FXI / $NGE/ $EGPT I chose to plot the correlations between the national market indices of China, Nigeria, and Egypt to explore the impact of China's Belt & Road Initiative. Their correlations were highest during the initial pandemic and the 2020 Q3/Q4 recovery. #rpiFTI

I compared $SFET and $PANW, two cybersecurity stocks. As seen below, $SFET is significantly less liquid which is expected because of it is a smaller company (>100x smaller) with less daily traded volume. This means $SFET is more sensitive to illiquidity risk. #rpiFTI

Front running is unethical because it is a form of market manipulation where the information is limited from other traders by time. I do not find it unethical against clients because their trades are executed at their requested price. #rpiFTI corporatefinanceinstitute.co…

At 3:10pm EST, shares of BRK-A were trading with the corresponding prices. The calculated quoted, effective half, and realized half spreads are seen below. These spreads are higher than those of MSFT due to the higher share price of BRK-A and lower trading volume. #rpiFTI