Flash Boys proves that liberal rhetoric is nothing but an absurd fallacy

[P@triot]

Once again, liberal rhetoric is proven as nothing but an absurd fallacy. This time by Brad Katsuyama.

Michael Lewis's new book "Flash Boys" is about the high volume traders who figured out how to cheat the system by rigging the networks which deliver orders to ensure they receive the orders fractions of a second before anyone else (thus ensuring they see what investors are looking to purchase). Then, they would execute a purchase for that price, turn around and sell it at a higher price to the investors who attempted to purchase at the original prices fractions of a second earlier. Brad Katsuyama was the investor who noticed that the price would increase on every stock he attempted to purchase even though he clicked purchase at the time the price was where he wanted to purchase it at.

So what did Brad Katsuyama do? Go to the media and cry about the "evil 1%"? Go to the government and demand that they take over the exchanges because "the little man simply can't compete with the big boys" while they have advantages like this? Nope.....

What Brad did was exactly what our entire system was designed to do - allow ANYONE to rise up and beat the system using Constitutional, free-market principles. He didn't demand that government put a gun to the head of anyone. He didn't demand that wealth be redistributed. Instead, he started his own exchange - the Investors Exchange (iEX). And it is thriving. Brad created his own exchange and promised integrity. He has ensured that integrity by configuring the fiber networks that feed his exchange so that all trade requests arrive at the same time, whether you're next door or 70 miles away. And people are flocking to this exchange for obvious reasons.

So much for the liberal narrative that the little man can't compete with the big boys....

Is the U.S. stock market rigged? - CBS News

 

[occupied]

It's a crying shame that someone deciding to be honest is considered an innovator. If this guy turns out be any kind of threat to the big brokerage's scams he will be utterly destroyed.

 

[P@triot]

It's a crying shame that someone deciding to be honest is considered an innovator. If this guy turns out be any kind of threat to the big brokerage's scams he will be utterly destroyed.

Very true regarding integrity. However, how great would it be if this exchange permanently buries the NYSE, NASDAQ, etc.? I hope it does. It would not only improve the economy (via the restored faith people would have in investing), but it would also set a huge precedence for integrity in business. Cheat people and people will take their business somewhere else.

This is the way to solve problems in America. Shine a light on problems, solve them with integrity through the free market. Nobody wins when the government gets involved. Nobody. They are more corrupt than the brokerage firms in this story. But what Brad did will not only generate tremendous wealth for this country - it didn't take 8 years of partisan legislation, it didn't cost the tax payer any money, and most of all - it didn't give more power to politicians.

 

[Peach]

It's a crying shame that someone deciding to be honest is considered an innovator. If this guy turns out be any kind of threat to the big brokerage's scams he will be utterly destroyed.

Very true regarding integrity. However, how great would it be if this exchange permanently buries the NYSE, NASDAQ, etc.? I hope it does. It would not only improve the economy (via the restored faith people would have in investing), but it would also set a huge precedence for integrity in business. Cheat people and people will take their business somewhere else.

This is the way to solve problems in America. Shine a light on problems, solve them with integrity through the free market. Nobody wins when the government gets involved. Nobody. They are more corrupt than the brokerage firms in this story. But what Brad did will not only generate tremendous wealth for this country - it didn't take 8 years of partisan legislation, it didn't cost the tax payer any money, and most of all - it didn't give more power to politicians.

Be careful what you wish for. The economic instability that would follow the sudden drop of the NYSE & NASDAQ would have impact throughout the country.

 

[FA_Q2]

It's a crying shame that someone deciding to be honest is considered an innovator. If this guy turns out be any kind of threat to the big brokerage's scams he will be utterly destroyed.

Very true regarding integrity. However, how great would it be if this exchange permanently buries the NYSE, NASDAQ, etc.? I hope it does. It would not only improve the economy (via the restored faith people would have in investing), but it would also set a huge precedence for integrity in business. Cheat people and people will take their business somewhere else.

This is the way to solve problems in America. Shine a light on problems, solve them with integrity through the free market. Nobody wins when the government gets involved. Nobody. They are more corrupt than the brokerage firms in this story. But what Brad did will not only generate tremendous wealth for this country - it didn't take 8 years of partisan legislation, it didn't cost the tax payer any money, and most of all - it didn't give more power to politicians.

Be careful what you wish for. The economic instability that would follow the sudden drop of the NYSE & NASDAQ would have impact throughout the country.

Where did he say anything about sudden?


You are jumping to conclusions based on nothing. The fall of those stock exchanges to something that has more integrity would do nothing to damage the economy at all. Mostly because these things do not happen overnight. Or even in a few years for that matter. Nor are any of those assets vanishing. They are simply moving to another exchange.

 

[P@triot]

It's a crying shame that someone deciding to be honest is considered an innovator. If this guy turns out be any kind of threat to the big brokerage's scams he will be utterly destroyed.

Very true regarding integrity. However, how great would it be if this exchange permanently buries the NYSE, NASDAQ, etc.? I hope it does. It would not only improve the economy (via the restored faith people would have in investing), but it would also set a huge precedence for integrity in business. Cheat people and people will take their business somewhere else.

This is the way to solve problems in America. Shine a light on problems, solve them with integrity through the free market. Nobody wins when the government gets involved. Nobody. They are more corrupt than the brokerage firms in this story. But what Brad did will not only generate tremendous wealth for this country - it didn't take 8 years of partisan legislation, it didn't cost the tax payer any money, and most of all - it didn't give more power to politicians.

Be careful what you wish for. The economic instability that would follow the sudden drop of the NYSE & NASDAQ would have impact throughout the country.

How do you figure? If the NYSE & NASDAQ disappeared because of iEX then we wouldn't see so much as the slightest blip in the economy. It would be seamless as the traders simply moved the exchange. Trading would still continue.

 

[occupied]

Very true regarding integrity. However, how great would it be if this exchange permanently buries the NYSE, NASDAQ, etc.? I hope it does. It would not only improve the economy (via the restored faith people would have in investing), but it would also set a huge precedence for integrity in business. Cheat people and people will take their business somewhere else.

This is the way to solve problems in America. Shine a light on problems, solve them with integrity through the free market. Nobody wins when the government gets involved. Nobody. They are more corrupt than the brokerage firms in this story. But what Brad did will not only generate tremendous wealth for this country - it didn't take 8 years of partisan legislation, it didn't cost the tax payer any money, and most of all - it didn't give more power to politicians.

Be careful what you wish for. The economic instability that would follow the sudden drop of the NYSE & NASDAQ would have impact throughout the country.

How do you figure? If the NYSE & NASDAQ disappeared because of iEX then we wouldn't see so much as the slightest blip in the economy. It would be seamless as the traders simply moved the exchange. Trading would still continue.

Large scale trading without manipulation, fixing, scams and skimming? The big banks would kill anyone, crash any economy, ruin any good thing to make sure that pipe dream never happens.

 

[P@triot]

Be careful what you wish for. The economic instability that would follow the sudden drop of the NYSE & NASDAQ would have impact throughout the country.

How do you figure? If the NYSE & NASDAQ disappeared because of iEX then we wouldn't see so much as the slightest blip in the economy. It would be seamless as the traders simply moved the exchange. Trading would still continue.

Large scale trading without manipulation, fixing, scams and skimming? The big banks would kill anyone, crash any economy, ruin any good thing to make sure that pipe dream never happens.

There is no doubt that they will do everything in their power to prevent that. But you think they have way more power than they do. It's safe to say they aren't going to resort to murder (one absurd psycho may - but you think an entire board of directors is going to openly go in on a murder...really?)

IBM was once the titan of IT. Now, they are barely a footnote. Microsoft, Apple, and Google have all surpassed IBM. It happens. And it wouldn't shock me in the least if it happens with the NYSE considering the endless problems we've seen on Wall Street over the last decade. From bailouts to Bernie Madoff to this story, the corruption is being exposed more and more. Based on the early success if IEX, I'd say that people are clearly looking for an exchange they believe they can trust with their money.