Saturday, April 4, 2026 
Conference Calls and The Sting
As I write, Apple, Inc. ($AAPL) has reported earnings and the stock is trading higher.
What will be interesting is the conference call. Earnings conference calls are Wall Street productions. The dial in number for the conference call is passed around to the bankers and the insiders, hedge funds, etc.
The internet feed is promoted by the company as a way to listen to the conference call.
If you listen to both the phone call and the internet feed, you’ll notice a delay in the internet feed. It runs behind the telephone wire feed. Once you’ve established a delay in information to some and not others, you have created statistical arbitrage. Casinos refer to this statistical arbitrage as house advantage. If you’d like to question Wall Street on this, they’ll use the Socratic Method and answer your question with a question. How could we have known!?
Listen to both feeds sometime and watch price movements. You will see interesting behavior.
These are things that you can learn from reading me.
Mr. Volatility.
Peace
Dude - I swear that I started writing a post on the Socratic method when I got back from Greece!
We must be in a state of ZEN.
Comment by Richard — April 22, 2009 @ 2:22 pm
Its been a longggg time since I dropped in. I love the new look and feel of your site.
Comment by Travis — April 22, 2009 @ 2:44 pm
Whole lives are lost in a single open day. I’m going back there cause I just can’t keep away.
The horizon broke with the lightning, earth and sky were fused, the hurricane that I was, bigger than life.
Comment by TUKOTI — April 22, 2009 @ 8:14 pm
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