June 17 — In electric power futures, for instance, there are various different regional electricity markets, each with its own futures contracts. There are different contracts for different expiration dates. There are different contracts for different times of day: There’s a contract for peak power, and another for off-peak power. You have to pick all the right specifications, and you have to do it all quickly, many times a day, while constantly being distracted by a stream of other information.

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