Bill Miller, Chief Investment Officer
On this week’s podcast (recorded March 31, 2014):
- What we like: CBS’s “60 Minutes” segment on high-frequency trading; traders may have an unfair advantage on trade execution, so regulators looking into it
- What we don’t like: Inflammatory aspect of segment saying all of Wall Street is rigged, but that isn’t the case; millisecond in time in trade execution doesn’t impact all types of investing; even with high-frequency traders, today we’re trading cheaper, better, and faster
- What we are doing about it: Spread trades across custodians, brokers, etc.; try not to limit our trades to any one, specific entity; pleased with our order execution, but look forward to regulators taking a hard look at high-frequency traders
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The views expressed are those of Brinker Capital and are for informational purposes only. Holdings are subject to change.