Bulk deals in the Indian stock market are increasingly being front run by sophisticated algorithms, nibbling away sizable portions of the negotiated blocks. Traders are finding that 15-20% or sometimes even 50% of shares are being scooped up by these high-speed algos. While the strategies are not strictly illegitimate, some market players suspect insider tips, as the algos seem able to hold positions for hours or days. This is frustrating brokers and fund managers as it leaves buyers shortchanged. It also affects typical trading patterns after bulk deals. However, one algorithmic trading firm in particular seems to have an uncanny ability to regularly participate in bulk deals, raising questions about the level of coincidence in its success.
Is There Such a Thing as a Good Billionaire? questions whether billionaires like Bill Gates who engage in large-scale philanthropy should be seen as “good.” While Gates’ donations help some causes, his foundation also faces criticism for exerting too much influence and for projects that hurt the communities they aim to help. As the largest private foundation in the world, the Gates Foundation benefits from substantial tax breaks yet is subject to little oversight. Gates and other billionaire philanthropists primarily benefit themselves through increased status and political power. It raises concerns about an emerging future where a small number of wealthy individuals have outsized control over policy areas like public health and education. Overall, the piece casts doubt on the notion that any billionaire can be truly “good” given the inherent dangers of extreme wealth and inequality.
Robinhood is launching its stock trading platform in the UK for the first time, five years after initially planning an expansion. While startups like Freetrade and Lightyear now dominate the UK market, Robinhood believes it can succeed due to experience from its 23 million US users. However, payment for order flow which is Robinhood’s main revenue source in the US has been banned in the UK. Robinhood will therefore need to pursue other avenues like subscription services and stock lending. Notably, Robinhood will only offer trading of US stocks initially, but plans to eventually add UK equities and expand into other European markets for cryptocurrency trading as regulations allow.