Photo: Flickr Howard Brier
On this day, June 16, 1884, the world’s first rollercoaster opened in Coney Island.It was called the Switchback at that point. Two generations later, in 1927, it became the Cyclone.
I remember going to Coney Island as many as four times a week as a boy. My dad would take us during the workweek, right after he finished his morning rounds at the hospital.
It was pretty funny actually, as he would finish his rounds at 10:30 a.m., and by 11:00 a.m. we would be on the beach. We would stay perhaps 45 minutes to an hour, and then rush back home so that my dad could go do his afternoon office hours.
So you see, we would go to the beach with high frequency, but for short duration.
Do you all now see why I do not like anything that is high frequency?
Kidding aside, there is a neat Reuters interview with Dick Grasso I enjoyed reading, and so I want to make sure you see it too: Grasso Holds Court on NYSE Deal.
I found out two things about Dick Grasso in the article, a dichotomy.
1. He was born a poor kid in working class queens, yet was forced to resign over furor at his $140 million pay package.
2. He talks of fairness in markets quipping, “Getting a price quickly is no substitute for getting a fair price,” and yet he is involved with a high frequency trading firm co-founded by a friend of his, Vinnie Viola.
It is an informative article, as you get Grasso’s predictions that the Deutsche Bourse NYSE deal will go through, as well as some kind of NASDAQ Toronto LSE three type deal at some point. Grasso has good instincts, and I wager he is dead on with his predictions, too.
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