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Financial journalist Felix Salmon on high-frequency computerized trading: “Most of the time, computerized trading makes stock markets more efficient, and it’s easier and cheaper for investors, both large and small, to trade. And it’s a good thing for everybody. But every so often, things can go horribly wrong, and we don’t know when and we don’t know how and we don’t know what the consequences might be. And that huge uncertainty, I think, is the biggest danger in the markets right now.”
