Anyone here read Michael Lewis' book on HF trading?

[Dot Com]

I heard him interviewed about it He used to trade at Solomon Bros back in the day and decided to get out while he still had a modicum of self respect (a soul) left.

Flash forward to today, anyone heard of his new book "Flash Boys"? He mentions interviewing Brad Katsuyama from RBC [MENTION=2926]Toro[/MENTION] you heard of him? He's a canuck that didn't sell-out on Wall St like the guy in the video at the bottom of my post

The flash boy: Brad Katsuyama on Wall Street scandals and the morality of money - London Life - Life & Style - London Evening Standard

Michael Lewis’s new book on rigged trading has caused a storm in the City. In his first British interview its hero, whistleblower Brad Katsuyama, talks Wall Street scandals and the morality of money with Toby Green

This book further elaborates how Wall St is merely legalized theft perpetrated by the Big Boys and the Joe Six Pack investors are basically taken to the cleaners EVEN WHEN THEY MAKE THE RIGHT INVESTMENT/s

The fight that stopped NYSE trading: Highlights - CNBC

 

[Toro]

I don't know Katsuyama since I don't live in New York and do something totally different. I do hope he's successful at IEX though.

As for Michael Lewis, he is my favourite writer, bar none, and I will probably buy the book simply because Michael Lewis wrote it. Nobody can weave a story about Wall Street like he does. I also think he has a point, since there seems to be something fundamentally wrong with paying for access. But on the other hand, insiders always had access. The floor brokers were the quintessential insiders, and they took $0.125 of every trade you made 20 years ago. Today, the HFTs take $0.00125 of every trade you make. Trading costs for us have gone way down. That's not to say everything these HFTs do is right, but I take issue with Lewis's comment that the market "is rigged." If this is true, then it's also been rigged for 300 years. Only now, you're not getting skinned as much as the past.

 

[Dot Com]

I don't know Katsuyama since I don't live in New York and do something totally different. I do hope he's successful at IEX though.

As for Michael Lewis, he is my favourite writer, bar none, and I will probably buy the book simply because Michael Lewis wrote it. Nobody can weave a story about Wall Street like he does. I also think he has a point, since there seems to be something fundamentally wrong with paying for access. But on the other hand, insiders always had access. The floor brokers were the quintessential insiders, and they took $0.125 of every trade you made 20 years ago. Today, the HFTs take $0.00125 of every trade you make. Trading costs for us have gone way down. That's not to say everything these HFTs do is right, but I take issue with Lewis's comment that the market "is rigged." If this is true, then it's also been rigged for 300 years. Only now, you're not getting skinned as much as the past.

Katsuyama is originally from Canada and the RCB

http://www.independent.co.uk/news/b...ieve-that-the-markets-are-rigged-9276386.html

Flash Boys centres on a discovery by Mr Katsuyama, who at the time was working in New York for Royal Bank of Canada, of what he believed was a way traders were rigging stock markets and ripping off the general public.

I read the first 28 pages of Flash Boys the other day, because I have a B & N acct which allows members sneak peaks into new releases. And NO, I'm not "gaming the system"

 

[Dot Com]

I heard Michael Lewis interviewed on our local non-profit rasdio station- American University Radio. I had already read his book "The Big Short. Read it if you want to know how the subprime mortgage securities snowballed into an avalanche due to wall steets credo of max profit & min morals One reason Germany sued an investment bank is because it cratered their pension fund.

Michael Lewis: "Flash Boys" | The Kojo Nnamdi Show

Wednesday, Apr 2, 2014 at 1:06 p.m.

in Business, Economy, Finance, Technology

A fraction of a second can make a difference between who profits and who pays in the ultra high-speed world of computerized stock trading. A new book by "Moneyball" author Michael Lewis says American exchanges give the edge to a small group of insiders at the expense of everyday investors. In "Flash Boys: A Wall Street Revolt," Lewis introduces a disparate cast of programmers and traders who set out to right the system and introduce fairness for those of us with a pension fund and 401(k) investments.

links on page:

The Wolf Hunters of Wall Street

Michael Lewis on "Flash Boys" on CBS "60 Minutes"

 

[Skull Pilot]

It's basically the .1% complaining that the .01% have a miniscule advantage.

For the regular investor who buys stocks or mutual funds every month as a savings strategy it just doesn't matter.

 

[Dot Com]

It's basically the .1% complaining that the .01% have a miniscule advantage.

For the regular investor who buys stocks or mutual funds every month as a savings strategy it just doesn't matter.

yeah, them taking your trading info and buying them up before you do (because of their access to faster systems) and then selling them to you at a higher price doesn't affect you Thanks for proving you have no idea what the book is about.

 

[Skull Pilot]

It's basically the .1% complaining that the .01% have a miniscule advantage.

For the regular investor who buys stocks or mutual funds every month as a savings strategy it just doesn't matter.

yeah, them taking your trading info and buying them up before you do (because of their access to faster systems) and then selling them to you at a higher price doesn't affect you Thanks for proving you have no idea what the book is about.

For a long term savings strategy it doesn't matter.
Most people don't buy and sell large quantities of stocks on a daily basis

 

[Dot Com]

They're rigging the game & you're using the "yabut" defense

 

[IlarMeilyr]

I heard him interviewed about it He used to trade at Solomon Bros back in the day and decided to get out while he still had a modicum of self respect (a soul) left.

Flash forward to today, anyone heard of his new book "Flash Boys"? He mentions interviewing Brad Katsuyama from RBC [MENTION=2926]Toro[/MENTION] you heard of him? He's a canuck that didn't sell-out on Wall St like the guy in the video at the bottom of my post

The flash boy: Brad Katsuyama on Wall Street scandals and the morality of money - London Life - Life & Style - London Evening Standard

Michael Lewis’s new book on rigged trading has caused a storm in the City. In his first British interview its hero, whistleblower Brad Katsuyama, talks Wall Street scandals and the morality of money with Toby Green

This book further elaborates how Wall St is merely legalized theft perpetrated by the Big Boys and the Joe Six Pack investors are basically taken to the cleaners EVEN WHEN THEY MAKE THE RIGHT INVESTMENT/s

The fight that stopped NYSE trading: Highlights - CNBC

I am in the process of reading it. I have read a few of his books. I think he is a terrific author.

Some of the information in his new book is fascinating.

I recommend his books to one and all.

 

[PredFan]

I haven't read the books but I've heard the interview on the radio and I saw the 60 minutes piece on him. I don't change my long term stock picks often, and I don't short-term invest. But I do hope he wins and the crooks get stopped.

 

[Dot Com]

I heard him interviewed about it He used to trade at Solomon Bros back in the day and decided to get out while he still had a modicum of self respect (a soul) left.

Flash forward to today, anyone heard of his new book "Flash Boys"? He mentions interviewing Brad Katsuyama from RBC [MENTION=2926]Toro[/MENTION] you heard of him? He's a canuck that didn't sell-out on Wall St like the guy in the video at the bottom of my post

The flash boy: Brad Katsuyama on Wall Street scandals and the morality of money - London Life - Life & Style - London Evening Standard

Michael Lewis’s new book on rigged trading has caused a storm in the City. In his first British interview its hero, whistleblower Brad Katsuyama, talks Wall Street scandals and the morality of money with Toby Green

This book further elaborates how Wall St is merely legalized theft perpetrated by the Big Boys and the Joe Six Pack investors are basically taken to the cleaners EVEN WHEN THEY MAKE THE RIGHT INVESTMENT/s

The fight that stopped NYSE trading: Highlights - CNBC

I am in the process of reading it. I have read a few of his books. I think he is a terrific author.

Some of the information in his new book is fascinating.

I recommend his books to one and all.

his books are very reader friendly, yes. I also read, as many here know, The Big Short by him as well

 

[IlarMeilyr]

I heard him interviewed about it He used to trade at Solomon Bros back in the day and decided to get out while he still had a modicum of self respect (a soul) left.

Flash forward to today, anyone heard of his new book "Flash Boys"? He mentions interviewing Brad Katsuyama from RBC [MENTION=2926]Toro[/MENTION] you heard of him? He's a canuck that didn't sell-out on Wall St like the guy in the video at the bottom of my post

The flash boy: Brad Katsuyama on Wall Street scandals and the morality of money - London Life - Life & Style - London Evening Standard


This book further elaborates how Wall St is merely legalized theft perpetrated by the Big Boys and the Joe Six Pack investors are basically taken to the cleaners EVEN WHEN THEY MAKE THE RIGHT INVESTMENT/s

The fight that stopped NYSE trading: Highlights - CNBC

I am in the process of reading it. I have read a few of his books. I think he is a terrific author.

Some of the information in his new book is fascinating.

I recommend his books to one and all.

his books are very reader friendly yes. I also read, as many here know, The Big Short by him as well

"Liars Poker" was also real good, entertaining and informative.

I didn't read "The Blind Side," but I saw the movie. Again, I end up wondering why one guy can end up with so much talent. The people he finds interesting to write about I tend to find fascinating, too. I suspect it's due to how he presents them and the things they have gone through.

 

[Skull Pilot]

They're rigging the game & you're using the "yabut" defense

I'm more concerned about the legal insider trading that goes on in congress than a guy making a few hundredths of a cent more in a trade than another guy.

 

[Politico]

I haven't read the books but I've heard the interview on the radio and I saw the 60 minutes piece on him. I don't change my long term stock picks often, and I don't short-term invest. But I do hope he wins and the crooks get stopped.

The only thing he cares about is selling books.

 

[Dot Com]

They're rigging the game & you're using the "yabut" defense

I'm more concerned about the legal insider trading that goes on in congress than a guy making a few hundredths of a cent more in a trade than another guy.

a "guy" Thanks for showing you didn't read/understand the OP We're talking about BILLION $$$ operations getting to "front load" their trades by the 100's perhaps 1000's/day. You really don't belong in this thread friendo.

I haven't read the books but I've heard the interview on the radio and I saw the 60 minutes piece on him. I don't change my long term stock picks often, and I don't short-term invest. But I do hope he wins and the crooks get stopped.

The only thing he cares about is selling books.

ummm..... which author doesn't? does that make his observation any less relevant. GO AWAY!!!

 

[Dot Com]

I bought the book a few days ago & heard this on the radio today. Thank you AG Holder

Goldman Sachs under scrutiny for high speed trading - May. 9, 2014

The bank admitted in a filing Friday that regulators have made inquiries.

The disclosure to the Securities and Exchange Commission is the first time the Wall Street powerhouse revealed the probe.

There's been increased focus on high frequency trading since Michael Lewis' book "Flash Boys" came out in March and claimed that the markets are rigged in favor of high speed traders.

 

[Dot Com]

If you want to awaken from your Wall ST HFT-induced slumber you need to read this book if you're able

It pissed me off to no ends when I saw how they were ripping-off the little guys and that means basically anyone w/o a direct link to their rigged network I want to do what Tony does at 2:55 to Lloyd Blankfein at goldmann, that smarmy little fucker!!!

[ame="https://www.youtube.com/watch?v=79ditPebZ8g"]https://www.youtube.com/watch?v=79ditPebZ8g[/ame]

READ A BOOK ONCE IN A WHILE YOU RW RANDIAN NEO CLASSICAL ECONOMICS BITCES!!!

 

[Dot Com]

Had any of you bothered to read how you're being financially sodomized, you'd be livid. Why are all of you econ sheeple?

 

[Dot Com]

Oh well, I tried to enlighten you sheeple to the current act of electronic thievery taking place on millions upon millions of trades.