someone want to bullet point this for me? lucas, maybe? youre a big boy now.
<> coil the fiber
--stocks are fast
--the market is unfair
The author is on NPR fresh air today.
Felix Salmon -- who read half the book! -- says this HFT stuff is all history of a few years ago and it's been fixed now so this book is stupid.
Damn, this book is everywhere. A real PR juggernaut. Not quite sure what to make of that.
The problems of HFT are well known and have been discussed extensively just out of the reach of the main stream for many years (at least since the 2010 flash crash.) So why all the hoopla now?
I guess easiest explanation is just that Lewis knows how to write a good book (i.e., a page turner; ready for hollywood). And that's what it takes to break through to a large audience, especially about something technical.
But, whether intentionally or not, I think the book is functioning like a limited hangout by Wall Street. Lewis paints HFTraders (who aren't standard Wall Street good old boys) as the bad guys, and while I think they are, there are much bigger fish to fry. HFT contributes to the markets being rigged, but it's pretty far down the list as far as I can tell. But Lewis' protagonist, with help from "good guys" Goldman Sachs, set up a new exchange that will save us from HFT and all is now good in the world (and, according to Lewis, no crimes were even committed, so no sense bringing people to justice or getting to the bottom of what is/was going on.)
Case closed. We're all saved. Thank god.
And cut....
(And just to be clear, I'm not agreeing here with Salmon - who I don't like either. I've got a bad feeling about the Lewis book, but from the other direction.)
White hats vs black hats. Pretty clean. And true, not very high up the ladder.
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someone want to bullet point this for me? lucas, maybe? youre a big boy now.
- dave 4-01-2014 3:10 am
<> coil the fiber
- bill 4-01-2014 1:53 pm
--stocks are fast
--the market is unfair
- tom moody 4-01-2014 6:39 pm
The author is on NPR fresh air today.
- bill 4-01-2014 7:10 pm
Felix Salmon -- who read half the book! -- says this HFT stuff is all history of a few years ago and it's been fixed now so this book is stupid.
- tom moody 4-02-2014 1:10 am
Damn, this book is everywhere. A real PR juggernaut. Not quite sure what to make of that.
The problems of HFT are well known and have been discussed extensively just out of the reach of the main stream for many years (at least since the 2010 flash crash.) So why all the hoopla now?
I guess easiest explanation is just that Lewis knows how to write a good book (i.e., a page turner; ready for hollywood). And that's what it takes to break through to a large audience, especially about something technical.
But, whether intentionally or not, I think the book is functioning like a limited hangout by Wall Street. Lewis paints HFTraders (who aren't standard Wall Street good old boys) as the bad guys, and while I think they are, there are much bigger fish to fry. HFT contributes to the markets being rigged, but it's pretty far down the list as far as I can tell. But Lewis' protagonist, with help from "good guys" Goldman Sachs, set up a new exchange that will save us from HFT and all is now good in the world (and, according to Lewis, no crimes were even committed, so no sense bringing people to justice or getting to the bottom of what is/was going on.)
Case closed. We're all saved. Thank god.
And cut....
(And just to be clear, I'm not agreeing here with Salmon - who I don't like either. I've got a bad feeling about the Lewis book, but from the other direction.)
- jim 4-05-2014 5:28 pm
White hats vs black hats. Pretty clean. And true, not very high up the ladder.
- bill 4-05-2014 6:04 pm