UC Berkeley: Stale prices not a threat to liquidity takers

Robert P. Bartlett III and Justin McCrary paper cited by Seeking Alpha, Sept. 8, 2016

Robert P. Bartlett III and Justin McCrary used data from the Securities Information Processors (SIPs) to look at reporting lags and the question whether fast traders can and do profitably exploit stale quotes. The proposition that they do pick off stale quotes is one of the theses of Michael Lewis’ 2014 book, Flash Boys.

Dead trees are fueling California wildfires, but what’s killing the trees?

Eric Biber quoted by KALW-FM, Sept. 6, 2016

“One of the concerns is that if people cut trees instead of letting the beetles kill the trees, in the long run that may actually interfere with the ability of these forests and these pine species to adapt to the future of climate change,” says U.C. Berkeley environmental law professor Eric Biber.

Study backs Barron’s critique of Flash Boys

Robert Bartlett and Justin McCrary study cited by Barron’s, Sept. 3, 2016

The study, by Robert Bartlett and Justin McCrary, scoured 385 million stock trades and 6.2 billion price quotes for signs that high-tech scalawags routinely front-run the rest of us by exploiting faster access to stock quotes. Contrary to Lewis’ scare story, the pair found that slow or fast quotes made no difference in pricing 97% of the trades. And on the remaining trades, the pricing differences actually favored the slow trader.

Lawyers burnish Tesla’s deal for SolarCity

Steven Davidoff Solomon writes for The New York Times, Sept. 2, 2016

The lawyers have grabbed control of the merger between Tesla Motors and SolarCity. They are blanketing the deal with legal process to try to smooth over the conflict of interest stemming from Elon Musk’s ownership interest in both companies. But will it be enough?

What you need to know about legalizing marijuana

Ethan Elkind hosts KALW-FM, August 29, 2016

“This November, Californians will decide whether to legalize the recreational use of marijuana for adults over the age of 21. Polls show support for the measure hovering around 55%. If Prop 64 passes, how will it impact us in California? … Will more people start using? Will we have more impaired drivers on the road? Will passage of Prop 64 put the illegal pot trade out of business in California, or will it expand alongside the new marketplace?”