This Ain’t Your Grandpa’s Derivative-Securitized Derivative

Capital Spreads, a financial spread betting firm operating out of The City in London, publishes a daily commentary on the state of the markets. Of last Thursday, they wrote (amongst other things):

[Thursday’s] comment made the point that the current trading activities were not sane ones for punters to be involved with, as a trading company I am happy to se [sic] that our clients completely ignored this piece of advice and managed to trade around 22,500 times in the 24 hr period (a quite spectacular record for Capital Spreads). I wish I could be as happy with their overall performance but sadly given the volatility this was not the case. Some punters made very good money but, in the main, most were caught in the headlights and run down.

Quite.

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