This is silly. Blame the third-party providers on this one, for using exchange prices during a holiday when the exchanges are closed ...
Finance sites erroneously show Amazon, Apple, other stocks crashing
91–98 of 98 posts
Re: Finance sites erroneously show Amazon, Apple, other stocks crashing
#92This story isn't emphasizing an important point: the stock price of many tech companies - amazon, google, Microsoft - were pegged to exactly $123.46 for multiple hours. This is likely 123.456 rounded to 2 decimals. To me this smells like a software testing bug or hack, rather than "stocks crashing"
The NYSE did exactly the same f*ckup in 2014. And as I would expect will happen this time, the NYSE did not care because it is a bank holiday in the US, but it is not in the rest of the world, and I saw many people complaining on forums that their brokers automatically closed their positions or made big margin calls. So this is a pretty bad mistake.
There's no due diligence expected on the broker's part? Or was the accurate data simply not available to them by any means?
Re: Finance sites erroneously show Amazon, Apple, other stocks crashing
#93Re: Finance sites erroneously show Amazon, Apple, other stocks crashing
#94Earlier quoted context omitted.
The NYSE did exactly the same f*ckup in 2014. And as I would expect will happen this time, the NYSE did not care because it is a bank holiday in the US, but it is not in the rest of the world, and I saw many people complaining on forums that their brokers automatically closed their positions or made big margin calls. So this is a pretty bad mistake.
There's no due diligence expected on the broker's part? Or was the accurate data simply not available to them by any means?
Well, the official price normally comes directly from the exchange. Brokers protect themselves against their exposure to their clients by reacting to the markets live. The exchange should be the authoritative source for prices.
Re: Finance sites erroneously show Amazon, Apple, other stocks crashing
#95Earlier quoted context omitted.
Do you ever use a taxi? Because if you do, you are putting your life into the hands of someone who could be a much worse driver than you. Instead of putting your life in the hands of a terrible taxi driver, would you put it in the hands of software that is on average better than a taxi driver? You are in a taxi, so you don't get to choose to drive it yourself.
Not gp, but I would personally expect a taxi driver to be better than me seeing the amount of time the diver spends on the road. The driver wouldn't be profitable otherwise. That said, I also mirror gp in that any self-driving car must be at least better than myself for me to trust it. I imagine that's a sentiment shared by many people.
What do you mean it wouldn't be profitable?
I am not paying the taxi driver money because they are a safer driver.
I am paying them for the convenience, and the ability to not take a car with me.
Also, taxi driver incentives are wrong. A taxi driver, even though they have lots of experience driving, have an incentive to drive very quickly and therefore dangerously.
Re: Finance sites erroneously show Amazon, Apple, other stocks crashing
#96Earlier quoted context omitted.
Do you ever use a taxi? Because if you do, you are putting your life into the hands of someone who could be a much worse driver than you. Instead of putting your life in the hands of a terrible taxi driver, would you put it in the hands of software that is on average better than a taxi driver? You are in a taxi, so you don't get to choose to drive it yourself.
Not gp, but I would personally expect a taxi driver to be better than me seeing the amount of time the diver spends on the road. The driver wouldn't be profitable otherwise. That said, I also mirror gp in that any self-driving car must be at least better than myself for me to trust it. I imagine that's a sentiment shared by many people.
What do you mean it wouldn't be profitable?
I am not paying the taxi driver money because they are a safer driver.
I am paying them for the convenience, and the ability to not take a car with me.
Also, taxi driver incentives are wrong. A taxi driver, even though they have lots of experience driving, have an incentive to drive very quickly and therefore dangerously.