Nicholas Dunbar

I went to Tokyo in October and all I got to show for it was this 11,000 word report.
share.hsforms.com/1f96LCAN7RTO...

Beloved Objects Left Behind by Val Kilmer, Ozzy Osbourne and Others We Lost This Year

I don't normally do interviews about my mother but I did this one
www.nytimes.com/2025/12/17/m...

Robinhood hit with US$45m SEC fine as market maker payments surge - Global Trading Robinhood Markets Inc, the US retail broker that made a business model out of payment-for-order-flow (PFOF) -based zero commission trading, has seen two

Some incredible numbers. In 9 months, Robinhood received $500m in payments for order flow from market makers including $136m from Citadel Securities. Market makers received $137bn equity volume and 150m options just in December alone. But it's 'commission-free'!
www.globaltrading.net/robinhood-hi...

Keir Starmer pledges to make UK a 'great AI superpower' as he outlines plan for growth The prime minister acknowledges concerns about the emerging technology, but says

Hey ChatGPT, how can I boost my country's sluggish economic growth? Give me some talking points for the ministers to move the debate away from borrowing costs.

www.bbc.co.uk/news/live/cr...

Tony posted exactly the same thing on X, it has gained a single 'like'.

The comments are something else

Six market microstructure research papers you must read - Global Trading Global Trading examines six of the most influential trading and market microstructure papers published online in 2024. Competition and Learning in Dealer

Six must-read papers on trading and market microstructure from 2024
www.globaltrading.net/research-on-...

Sometimes you think, this must have been reported somewhere else - the FT, WSJ, BBG. But it wasn't. So you realise it must be an exclusive.

Goldman lost $687m on two days during August turmoil - Global Trading The need to keep generating trading profits means the US banking giant has to take greater risks Goldman Sachs experienced a total trading loss of $687

Goldman lost $687m on two days during August turmoil
www.globaltrading.net/goldman-lost...

The challenge of share buybacks - Global Trading Companies are demanding more flexibility in share buybacks, and banks are tweaking their products in response. The basic premise of a buyback is simple –

Is everyone doing share buybacks wrong? www.globaltrading.net/the-challeng...

CBOE defends VIX against BIS criticisms - Global Trading The BIS blames pre-market option quotes for August VIX spike, but CBOE defends its methodology The 5 August spike in the CBOE’s VIX ‘fear gauge’ to 66%, a

Is the VIX index flawed as a risk indicator? The BIS weighed in on this and I got CBOE to respond.
www.globaltrading.net/cboe-hits-ba... @robinwigglesworth.bsky.social

This is all on riskyfinance.com

The 'tentpole effect' - how Nvidia affects the cumulative weighted return as you add stocks to the index in order of decreasing market cap.

Half the YTD cumulative market cap increase is from four stocks...but that's normal these days

From the Risky Finance equity tool, here is the S&P 500. The Nvidia return is not a typo

Ok, let's do this