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I don't think that's a true etymology of "bucket shop," which per my recollection of Livermore was just an off-track-betting parlor for ticker symbols, but wher
by rlucas 6mo ago
I don't think that's a true etymology of "bucket shop," which per my recollection of Livermore was just an off-track-betting parlor for ticker symbols, but where nobody actually bought the shares (bundled or otherwise). Strictly a retail swindle, having nothing directly to do with the risk/maturity bundling work you are criticizing above.
- hedora 6mo agoWe had them in the US before the SEC, which regulated them out of existence. It’s likely the term is a pejorative referring to the Liverpool setup you describe.
- rlucas 6mo agoSorry, I meant Jesse Livermore's "Confessions of a Stock Market Operator," worth a read to anyone interested in the history of this stuff.