Jamie Oschefski, Tabb Forum, Buy Side Brings Execution Algos In-House, here.
One of the more interesting phenomena of late is that a growing number of buy-side firms have surfaced with the intent to bring their execution services in house, providing increased transparency and additional flexibility. While work continues on optimizing the traditional best execution algorithm package (VWAP, TWAP, etc.), and the introduction of a few ISV products (which attempt to optimize the algorithm selection process based on market environment), some managers are coming to the realization that their alpha would be substantially affected by bringing their custom logic in-house.
Peter Woit, Not Even Wrong, Scientific Bookstores, RIP, here. Losing McGraw-Hill was painful. I recall the Book Scientific (down by NYU?) guy used to keep the shrink wrap on Dieudonne, Foundations of Modern Analysis and both volumes of Eilenberg so lunch time browsing was curtailed. Shapiro was never a big fan of the text books – he said you should just read your own notes.
With the closing of this store, there now are no longer any bookstores that I’m aware of in New York City that have a large collection of technical math and physics books. Other Barnes and Nobles like the Columbia bookstore have a smattering of such books, and the Strand has a large collection of used and remaindered books, but that’s about it (maybe a reader will tell me about a place I don’t know). At one point in a long-ago golden age there were several bookstores here devoted to scientific and technical books, including Book Scientific and the McGraw-Hill book store.