fontaine
Banned
- 8,053
- 6,535
- Joined
- Jul 5, 2013
So, this little canadian dude is out here rustling the big wigs jimmies.
Michael Lewis wrote a book about Brad Katsuyama. Dude left a million dollar head trader job at RBC to start an exchange that eliminated high frequency traders' (HFTs) advantage in the stock market.
I remember seeing a 60 minute special about this about 3 or 4 years ago about how these smart guys developed computers that search the market, track trends, and do countless buy/sell transactions to gain fractions of a cent. do it enough times and you get major paper.
Apparently, HFTs are like cutoff men in baseball. while you throw a ball from outfield, they jump in the middle, buy and sell, then relay that back to you. so basically, you're not seeing the prices that they're seeing.
I think this is pretty interesting b/c we all know that where there's lots of money, there will be some tomfoolery and dishonesty. my body is ready for the book.
here's an abbreviated clip of the canadian dude and the writer against a guy that runs an exchange.
4 minute clip
longer 23 minute clip
CLIFFS:
canadian dude finds out there's some f***ery going on in the stock market b/c folks are intercepting trade information, and acting on it before the other people's orders are placed.
canadian dude wants to start a new stock market exchange b/c he thinks its unfair and people arent trying to hear him..
tons of big wigs' jimmies get rustled b/c he's messing up their money.
tin foil hat guy is looking like he nailed this one.
go look at thedailyshow.com for an extended interview w/ michael lewis.
Michael Lewis wrote a book about Brad Katsuyama. Dude left a million dollar head trader job at RBC to start an exchange that eliminated high frequency traders' (HFTs) advantage in the stock market.
I remember seeing a 60 minute special about this about 3 or 4 years ago about how these smart guys developed computers that search the market, track trends, and do countless buy/sell transactions to gain fractions of a cent. do it enough times and you get major paper.
Apparently, HFTs are like cutoff men in baseball. while you throw a ball from outfield, they jump in the middle, buy and sell, then relay that back to you. so basically, you're not seeing the prices that they're seeing.
I think this is pretty interesting b/c we all know that where there's lots of money, there will be some tomfoolery and dishonesty. my body is ready for the book.
here's an abbreviated clip of the canadian dude and the writer against a guy that runs an exchange.
4 minute clip
longer 23 minute clip
CLIFFS:
canadian dude finds out there's some f***ery going on in the stock market b/c folks are intercepting trade information, and acting on it before the other people's orders are placed.
canadian dude wants to start a new stock market exchange b/c he thinks its unfair and people arent trying to hear him..
tons of big wigs' jimmies get rustled b/c he's messing up their money.
tin foil hat guy is looking like he nailed this one.
go look at thedailyshow.com for an extended interview w/ michael lewis.
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