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'Flash Boys' by Michael Lewis
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ecstacy
#1 Posted : Monday, March 31, 2014 2:41:28 PM
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Joined: 2/26/2008
Posts: 4,449
This book by Michael Lewis detailing how the big boys on wallstreet use high frequency trading on fibre links to rig the stock market is out today.

This should make some interesting read on legalized system rigging applicable in some measure to our NSE.
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hisah
#2 Posted : Monday, March 31, 2014 3:11:49 PM
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Joined: 8/4/2010
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Great interview here - http://www.cbsnews.com/n...us-stock-market-rigged/

I don't think NSE20 would survive the HFT boys. They'd kill the market. If HFT was to introduced at NSE20, I'd cash out the following day.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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symbols
#3 Posted : Monday, March 31, 2014 5:34:05 PM
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hisah
#4 Posted : Tuesday, April 01, 2014 6:24:19 AM
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And the book now hits the best seller scale on Amazon. I tuned to CNBC to get a glimpse on how this mouthpiece station would damp down the issue. Indeed this book has hit a nerve as damage control is dished out. I hope the book hits home for the retail (muppet aka wanjiku) crowd.

The buzz the book has created is fantastic for crowd, but bad news for the muppet masters... Finally muppets can now gang up and dry out the ponzi masters smile
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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ecstacy
#5 Posted : Tuesday, April 01, 2014 9:22:53 AM
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symbols wrote:






Thank you. Very interesting watch especially that on the Alchemist.
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ecstacy
#6 Posted : Tuesday, April 01, 2014 9:28:52 AM
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hisah wrote:
Great interview here - http://www.cbsnews.com/n...us-stock-market-rigged/

I don't think NSE20 would survive the HFT boys. They'd kill the market. If HFT was to introduced at NSE20, I'd cash out the following day.


Laughing out loudly I'm with you on that. Thank you for the link. Isn't PPT the analogue version of this this? smile
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hisah
#7 Posted : Monday, April 13, 2015 3:35:01 PM
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ecstacy wrote:
hisah wrote:
Great interview here - http://www.cbsnews.com/n...us-stock-market-rigged/

I don't think NSE20 would survive the HFT boys. They'd kill the market. If HFT was to introduced at NSE20, I'd cash out the following day.


Laughing out loudly I'm with you on that. Thank you for the link. Isn't PPT the analogue version of this this? smile

PPT is nothing compared to HFT. Those supercomputers have crazy crunching power that works in nanoseconds. If you can defraud market participants at nanosec level that's beyond the word fraud d'oh!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#8 Posted : Monday, April 13, 2015 3:36:43 PM
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Another nice Michael Lewis BBC interview

'The market is rigged' - Michael Lewis
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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doubletap
#9 Posted : Thursday, April 23, 2015 2:27:45 PM
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Joined: 7/17/2014
Posts: 132
Location: Wherethewindblows
link

This is how much money the arrested trader made on the 'flash crash'

The U.K. trader accused of contributing to the 2010 market swoon made more money when he wasn’t (allegedly) crashing the market.
You have to learn the rules of the game. And then you have to play better than anyone else - Albert Einstein
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hisah
#10 Posted : Monday, July 06, 2015 5:15:48 PM
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Courtesy NYTimes


Sergey Aleynikov charges tossed out. Going after small fish while the sharks are still living large Shame on you

Not that I support the small fish working for the sharks, but for onece I want to see the big fish thrown under the bus and sent behind bars to pass the message that things have changed.

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Obi 1 Kanobi
#11 Posted : Monday, July 06, 2015 5:55:51 PM
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Joined: 7/23/2008
Posts: 3,017
hisah wrote:
And the book now hits the best seller scale on Amazon. I tuned to CNBC to get a glimpse on how this mouthpiece station would damp down the issue. Indeed this book has hit a nerve as damage control is dished out. I hope the book hits home for the retail (muppet aka wanjiku) crowd.

The buzz the book has created is fantastic for crowd, but bad news for the muppet masters... Finally muppets can now gang up and dry out the ponzi masters smile


Gotta disagree, with you here. The truth is Wanjiku does not belong in a modern trading floor. A few sharp individuals like yourself can make it if they have enough time or apply themselves full time to trading but a part time accountant trying to make cash in the madness that's NYSE or LSE is in for a rude shock.

There is however still a chance for at the ponderous NSE. Not sure how much time though.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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