roaminblue
Well-Known Member
- Joined
- 27 Apr 2008
- Messages
- 2,991
For anyone with an interest in the financial markets, Michael Lewis (Author of "The Big Short", "Moneyball" and "Liar's poker") has released a new book called "Flash Boys".
Its basically a claim into the idea that high frequency trading firm's have meant that stock markets are now basically an excercise in futility for many investors.
Really interesting chap, I went to a talk of his last night. Hes an intelligent guy, and certainly passionate about his cause.
http://en.wikipedia.org/wiki/Flash_Boys
In short, the book starts as an investigation into what Lewis believes is a rigged market. He comes across a guy called Brad Katsuyama, foremerly head of trading at RBC in NY. Katsuyama is creating a new exchange called IEX, which HFT's are put on a "lag" meaning they can't influence the market prices quite like they can in open markets.
There was a recent debate on CNBC, where Katsuyama and the head of the BATs exchange (one of the exchanges accused of allowing HFT's to use predatory tactics) had a bit of a verbal.
http://www.cnbc.com/id/101544772
Its basically a claim into the idea that high frequency trading firm's have meant that stock markets are now basically an excercise in futility for many investors.
Really interesting chap, I went to a talk of his last night. Hes an intelligent guy, and certainly passionate about his cause.
http://en.wikipedia.org/wiki/Flash_Boys
In short, the book starts as an investigation into what Lewis believes is a rigged market. He comes across a guy called Brad Katsuyama, foremerly head of trading at RBC in NY. Katsuyama is creating a new exchange called IEX, which HFT's are put on a "lag" meaning they can't influence the market prices quite like they can in open markets.
There was a recent debate on CNBC, where Katsuyama and the head of the BATs exchange (one of the exchanges accused of allowing HFT's to use predatory tactics) had a bit of a verbal.
http://www.cnbc.com/id/101544772