CNBC screenshotBrad Katsuyama and Bill O’BrienTwo CEOs of exchanges got in a nasty brawl on CNBC’s “Power Lunch” over high-frequency trading.
William “Bill” O’Brien, the CEO of BATS, slammed Brad Katsuyama, the CEO and president of IEX, and author Michael Lewis.Katsuyama is the hero in Michael Lewis’ new book, “Flash Boys.” His firm, IEX, is an alternative exchange. “I’ve been […]
Even though Canadian trader Brad Katsuyama had found the elusive answers to a question that baffled even the most powerful Wall Street investors, he had a tough time, at first, even getting a meeting in the executive offices of one of the top financial firms in the United States.The Markham, Ont.-native worked in the Manhattan offices of the Royal Bank […]
Michael Lewis’ new book Flash Boys comes out today. It’s all about the confusing world of high-frequency, algorithmic trading.He was on 60 Minutes last night talking about the subject and promoting his book.In this short segment, he argues that the stock market is rigged.The first 45 seconds are the key part, wherein he explains the mechanism by which high-frequency traders […]
Steve Kroft reports on a new book from Michael Lewis that reveals how some high-speed traders work the stock market to their advantageIs the U.S. stock market rigged? Lewis explains how the stock market is riggedAuthor Michael Lewis explains why vast sums of money are being spent by high frequency traders to gain microseconds in speed~~~Lewis: Investors, big and […]
March 31, 2014How the Stock Market is Rigged
Michael Lewis’ great new book Flash Boys comes out today and he was on 60 Minutes last night explaining how traders use high-frequency, algorithmic trading to rig the stock market in their favor.
Here’s the video:Comments (View)
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Interesting bit from Slate (via Business
Insider) from last week tracing
the shockingly good record of Securities and Exchange
Commission (SEC) employees when it comes to making trades at the
right time in stocks of companies the SEC investigates.Turns out reseachers found “SEC employees tend to sell a
company’s stock before the SEC takes enforcement action against the
company” leading to:
abnormal returns of about 4 percent for […]
Benchmarks were finally able to close in the green yesterday, helped by some encouraging corporate numbers. Gains from pharma major Pfizer also helped benchmarks notch up a rare win, which came a day after benchmarks had suffered their biggest losses since last June. Discretionary stocks led the gains for the S&P 500’s industry groups.For a look at the issues currently […]
Retirement » Why Investors Bail Out Of The Stock MarketLife is full of risks. Crossing the street can be dicey, driving is unquestionably perilous and nearly everything you eat may cause cancer or heart disease. We bravely engage in these potentially life-threatening behaviors on a daily basis with barely a thought.When it comes to taking stock market risk, though, the […]
Sentiment, a social intelligence and engagement platform, has raised £1 million in Series A funding. The financing round was led by Elderstreet Investments, with participation from AIM-listed technology company Netcall. Sentiment also has appointed Elderstreet’s co-founder and managing director Michael Jackson as chairman of the board of directors.Press ReleaseSentiment, (the trading name of Macranet Ltd), the social intelligence and engagement platform, […]
Stock Market 2014 Contrarian Trade of the Decade Stock-Markets / Stock Markets 2014Dec 30, 2013 – 04:31 PM GMTBy: Michael_Pento
Mr. Bernanke, in a move made mostly to bolster his legacy, stated in his final press conference as Chairman of the Fed that he would start to reduce asset purchases in January of 2014. Nearly every […]
