{"id":15169,"date":"2021-09-11T14:18:31","date_gmt":"2021-09-11T14:18:31","guid":{"rendered":"https:\/\/www.duck9.com\/?p=15169"},"modified":"2021-09-11T10:26:44","modified_gmt":"2021-09-11T14:26:44","slug":"weekend-reading-an-open-letter-to-the-fed-robert-kaplan-and-rosengren","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/weekend-reading-an-open-letter-to-the-fed-robert-kaplan-and-rosengren\/","title":{"rendered":"Weekend Reading, \u201cAn Open Letter To The Fed\u201d Robert Kaplan and Rosengren"},"content":{"rendered":"
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Unedited by Larry Chiang<\/div>\n
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app.hedgeye.com\/insights\/104650-weekend-reading-an-open-letter-to-the-fed-and-investors-and-the-ame?type=macro%2Cmarket-insights<\/a><\/div>\n

Actually, \u201cday trading\u201d doesn\u2019t effectively convey the magnitude of their financial avarice: Dallas Fed President Robert Kaplan bought and sold S&P futures valued in excess of $1 million. He has 27 holdings exceeding $1 million each<\/i>. Kaplan was previously Vice Chairman of Goldman Sachs; now he can turn a profit off his own policymaking.<\/b><\/p>\n

Though Nancy Pelosi might beg to differ, the material and non-public nature of the market-moving information (and decision-making power) a Fed Head is privy to is unrivaled. A Fed President betting on S&P futures is akin to putting it all on black after rigging the roulette table. You\u2019d be barred from Vegas for such behavior. Meanwhile, when Kaplan\u2019s Fed tenure is done the \u201cpoor guy\u201d will likely have to settle for collecting millions of dollars in speaking fees and a cushy advisory role for private equity.  <\/p>\n

Following (strong) backlash \u2013 both Kaplan and Rosengren will sell all their active holdings by the end of September. Conveniently, this comes just as the S&P is making all-time highs and the Fed is about to taper back the juice<\/span> <\/span><\/div>\n

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WordPress\u2019d from my personal iPhone, 650-283-8008, <\/span>that Steve Jobs texted me on<\/p>\n
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https:\/\/www.youtube.com\/watch?v=ejeIz4EhoJ0<\/span><\/p>\n
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Unedited by Larry Chiang app.hedgeye.com\/insights\/104650-weekend-reading-an-open-letter-to-the-fed-and-investors-and-the-ame?type=macro%2Cmarket-insights Actually, \u201cday trading\u201d doesn\u2019t effectively convey the magnitude of their financial avarice: Dallas Fed President Robert Kaplan bought and sold S&P futures valued in excess of $1 million. He has 27 holdings exceeding $1 million each. Kaplan was previously Vice Chairman of Goldman Sachs; now he can turn a profit off his […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15169","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/15169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=15169"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/15169\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=15169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=15169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=15169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}