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Journal of Investment ConsultingIn the Dec. 2000, vol. 3, no. 1 issue of The Journal of Investment Consulting:
"On p. 53 of this issue, our IMCA colleague, Rex Macey, addresses the angst of some consultants about the new environment of 24 hour trading, seven days a week. He puts the matter into proper perspective: 'the 24/7 move is really toward convenience for the client. . . ' CNBC 24/7 Trading is the new book intended for more than just convenience.
First, understand that this new book is written primarily for individuals who trade for their own accounts; nevertheless, its content provides points of departure for some straight thinking and discourse among consultants and their clients. Around the clock/around the world trading impacts transaction costs, asset allocation strategies and performance measurement. In the post-modern-political mode of query, one can now pose the valuation question: 'At what point is when?' What market does one mark to? Just as important are questions about risk, liquidity, and regulatory oversight. Even though this book is intended for individual traders, it is the first book to address these issues in the context of the age of instantaneous finance.
This book is co-published by CNBC, yet it provides balanced information about alternative sources of around-the-clock financial information. It is most evident that Rockefeller, CNBC, and the publisher were painstakingly conscientious in pulling this book together. The only criticism could be that they tried to cover too much in one book. This judgement, however, is never fair when an author and publisher accept the challenge to write the first responsible book about a new area of economic activity.