Commentary

Robert Schuessler
Traders Magazine Online News

A Smarter Monkey

In this contributed piece, TIM noted that some traders do better than others when using data that has been run through certain analysis - that is, have used some form of machine learning to assist them.

Traders Poll

In his first public speech, SEC Chair Jay Clayton deviated from his prepared remarks and offered his own "off the cuff" comments on market issues. Do you like this change of pace?




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February 1, 2004

Sign of the Times at Indy Trading Desk

By Staff Reports

A former Goldman Sachs trading hot shot is taking the helm at a new institutional trading desk for independent research customers.

Michael Weitzner, who also had a stint as co-head of Nasdaq sales and trading at ING-Barings/ABN Amro, was named director of trading at the Independent Research Group (IRG). It is the in-house trading subsidiary of TheStreet.com.

The hire is another sign of the changing fortunes for institutional equity research. Since the bursting of the dotcom bubble, it has become heavily criticized and penalized because of investment banking conflicts.

TheStreet.com, in moving into its own trading business, hopes to leverage its expertise servicing hedge funds and money managers.

IRG analysts follow uncovered and the more obscure stocks in the small to mid-cap range. The company said it will execute trades exclusively on an agency arrangement and will not commit its own capital.