I had the chance to read through Flash Boys. It was an intriguing read about dark pools and how HFT have rigged the price of the stock market and chiselled money from the small investor.
As WEB and CM call it, it is legalized front running. Lewis again does a masterful job of capturing the story the only way he can.
A definite read.
My take on it --- as it stands now, it is like a tax on trading that all small investors and big investors have to bear with.
Another reason to minimize the trading activities. Such practices have existed for as long as wall street has existed. It is nothing new. I was surprised to the extent that the practice has spread but nothing about wall street will really surprises me anymore.
The only predictable thing in the book was the involvement of GS (of which we are long) The vampire squid has been involved in every single scandal of the 20th century and is unlikely to break the trend in the 21st century.
I will not be surprised to see outrage on HFT's but very little action. There will be probably more regulations and more ways to circumvent them......
As WEB and CM call it, it is legalized front running. Lewis again does a masterful job of capturing the story the only way he can.
A definite read.
My take on it --- as it stands now, it is like a tax on trading that all small investors and big investors have to bear with.
Another reason to minimize the trading activities. Such practices have existed for as long as wall street has existed. It is nothing new. I was surprised to the extent that the practice has spread but nothing about wall street will really surprises me anymore.
The only predictable thing in the book was the involvement of GS (of which we are long) The vampire squid has been involved in every single scandal of the 20th century and is unlikely to break the trend in the 21st century.
I will not be surprised to see outrage on HFT's but very little action. There will be probably more regulations and more ways to circumvent them......
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