Sublime

Laufer’s work also showed that, if markets moved higher late in a day, it often paid to buy futures contracts just before the close of trading and dump them at the market’s opening the next day.

The duration, scope and volume of [the firm’s] locate and order-marking violations created a potential for harm to the integrity of the market.

In the future, excessive scale could be not only counterproductive but dangerous. Larger enterprises make more tempting targets. As practitioners of the underground economy demonstrate, one of the secrets of avoiding taxation is to avoid detection.

Typical Windsor fare featured good companies with solid market positions and evidence of room to grow.