From Congressmen to Cowboys and Back
by Jim Toes
When we started the “Taking Stock” column one of our goals was to provide you with short human interest articles in addition to keeping you updated on relevant topics. With that thought in mind, I hope you enjoy the following read.
Earlier this week I took a short vacation to Jackson Hole, Wyoming to celebrate my 25th wedding anniversary. Spending time outdoors, in our national parks will do wonders for anyone; both physically and mentally. Upon returning, time was spent catching up on all that happened while away-which included watching two Senate hearings on market structure. Yellowstone National Park became a distant memory upon hearing Senator Levin ask the first two panelists, “Do you swear that the testimony you are about to give here today is the truth and nothing but the truth?”
In an April STA Letter to Members we mentioned how our market structure is under intense scrutiny. Now, three months later that scrutiny shows no signs of abating and our industry on a whole, is getting stretched in deciphering the amount of information coming out. Responding to inquiries from customers and within our respective firms continues to be at all time highs. As individuals, the only way to keep up with this pace is to find time to step away from work, even if just for a few days to walk a trail and see some cowboys.
We have one more week before summer kicks in. Please find the time to step away. While conversations and debates will take place while you are gone, it is highly unlikely that any major decisions will be decided in the coming months. So, make time for yourself and reconnect with those things which are truly important to you.
Next week STA will be hosting an Open Call to Members on the legal definitions of front running and insider trading. Details HERE
Have a good weekend.
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