Toomre Capital Markets LLC

Real-Time Capital Markets -- Analytics, Visualization, Event Processing, and Intelligence

The True Delight Is In The Finding Out

The true delight is in the finding out rather than in the knowing.

Judgement No Better Than Underlying Information

A businessman's judgement is no better than his information.

American steel executive from the early 1900's

Doing The Right Thing

There is no man more dangerous, in a position of power, than he who refuses to accept as a working truth the idea that all a man does should make for rightness and soundness, that even the fixing of a tariff rate must be moral.

American teacher, author and journalist, a leader in what now is known as investigative journalism. (1857-1944)

Leadership and Courage To Act

A leader must have the courage to act against an expert's advice.

Tony Blair on Why He Entered Politics

I got fed up with all the sex and sleaze and backhandlers of rock 'n' roll, so I went into politics.

British prime minister (1997-2007)

President Truman on Leadership and Progress

Men make history and not the other way 'round. In periods where there is no leadership, society stands still. Progress occurs when courageous, skillful leaders seize the opportunity to change things for the better.

Thirty-Third President of the United States (1945-1953)

An Idea In The Rough

Practical experience is not merely the ultimate test of ideas; it is also the ultimate source. At their beginnings, most ideas are dimly perceived.

Ideas are most clearly viewed when presented as abstractions, hence the common assumption that academics — who are proficient at presenting and discussing abstractions — are the source of most ideas.

One of the dangers in our system of formal education, however, is that a student can go all the way through to an advanced degree in many fields without ever having seen an idea in the rough. An academic with this kind of background may even have trouble recognizing a new idea when he has one.

From "Editor's Comment in Financial Analysts Journal (March/April 1973, page 6)

Bob Prechter on Bear Markets

Bear markets of sufficient size appear to bring about a desire to slaughter groups of successful people. In 1793-1794, radical Frenchmen guillotined countless members of high society. In the 1930s, Stalin slaughtered Ukrainians. In the 1940s, Nazis slaughtered Jews. In the 1970s, Communists in Cambodia and China slaughtered the affluent. In 1998, after their country's financial collapse, Indonesians went on a rampage and slaughtered Chinese merchants.

Author of Wave Principle of Human Social Behavior, p. 270

Dealing with Aggressive Spiders and Bots on Drupal Websites

IP address 95.108.240.252 maps to a spider computer hosted on the Yandex Enterprise Network. About every minute and a half or so, a spider process on that computer (still) attempts to retrieve yet another piece of content from the Toomre Capital Markets ("TCM") website. Many of the pages this spider requests either do not exist or are part of the no-follow rule section in the robots.txt file. This spider certainly is aggressive and ignores the rules that many other bots seem to respect.

A few months ago, after watching this particular malformed spider consume more five percent of the total hosting bandwidth used that month, we had had enough. Hence, some modifications were made to a custom Drupal module running on the TCM website concerning visitor information (including various bots) and what specific information was being sought. Now as a result, when this Yandex spider come looking for a page like "search/node/facebook", it somehow ends up redirected to a page from a third-party website.

One would think that the person(s) controlling the spider would get the message after some fifty thousand plus attempts to get information from the TCM website. Somehow a human user might wonder why attempts to retrieve information on structured finance products, risk management and/or MATLAB topics always results in a page full of "gay anal porn" or other similar material. Until then, the TCM website might well become a frequent referrer to certain pornographic websites.

What Lies Within Us

What lies beneath us and what lies before us are tiny matters compared to what lies within us.

Better Acceptance of Ideas

People will accept your ideas much more readily if you tell them Benjamin Franklin said it first.

Elbert Hubbard on Failure

There is no failure except in no longer trying.

American writer, publisher, artist, and philosopher

Racial, Gender Quotas Coming via FinReg Bill?

Diana Furchtgott-Roth over at Real Clear Markets raises concerns about Section 342 of the pending Dodd-Frank financial regulation bill. This section has not been publicized much at all during the contentious reconciliation process.

Section 342 apparently "declares that race and gender employment ratios, if not quotas, must be observed by private financial institutions that do business with the government. In a major power grab, the new law inserts race and gender quotas into America's financial industry." Through the establishment of at least twenty Offices of Minority and Women Inclusion, this section aims to assure "to the maximum extent possible the fair inclusion" of women and minorities, individually and through businesses they own, in the activities of the agencies, including contracting.

Toomre Capital Markets LLC ("TCM") applauds the broad diversity goal that this section attempts to address. For far too long, the financial services industry and its service providers have been dominated by white males. It is reassuring to know that my teenage daughter, based solely on her capabilities, might have some possibility of obtaining employment in the investment banking sector should she desire so. In short, females and minorities will have a "fair" chance for opportunities and employment.

The devil is in the details of implementation, though: How does one define "fair"? As Ms. Furchtgott-Roth explains,

Minna Antrim on Experience

Experience has no text books nor proxies. She demands that her pupils answer her roll-call personally.

American author (1861-1950)

John Carney Joins CNBC

John Carney is headed to CNBC as a Senior Editor. The former editor and writer for Business Insider's financial news and gossip vertical, Clusterstock, will now be writing for the blogs section of the CNBC.com website as well as serving as an on-air commentator on the popular business news cable channel.

Toomre Capital Markets LLC ("TCM") has followed Mr. Carney's work since the beginning of the financial crisis when he at that time was writing for the Dealbreaker website, a Wall Street blog that covers the personalities and culture that shape the financial industry. Partly as a result of John Carney's insightful writing for his former employers, both of these Wall Street blogs became among the most popular. Perhaps the CNBC website will also soon become more popular because of John's work? TCM wishes John success with his new position.