1. "The stock market is rigged," Michael Lewis tells Fresh Air's Terry Gross. “It's rigged for the benefit for really a handful of insiders. It's rigged to … maximize the take of Wall Street, of banks, the exchanges and the high-frequency traders at the expense of ordinary investors.”
Lewis is the author of several books about the stock market, including Liar’s Poker and The Big Short. His new book Flash Boys is about the form of computerized transactions known as High Frequency Trading, in which the fastest computers with the most high speed connections get the information first, and make the trade before anyone else can. A nanosecond can make all the difference between how much money is made or lost on any transaction.
Brad Katsuyama (above) figured out how the system is rigged and set out to change it. Lewis explains:

"There is this perception that Wall Street insiders understand how Wall Street works — and it’s false. It’s especially false right now. Here you have this young man, this kid [Katsuyama] at the Royal Bank of Canada who’s engaged in this kind of science experiment in the market. He figures out at least one angle the predators are taking and he goes and talks to not just ordinary investors … the biggest investors, the smartest investors in the world and their jaws are on the floor. … Even these people have no idea what’s going on in the market and are being educated by this Canadian who has basically just arrived on the scene and has decided to make understanding [this] his business."

Photo of President and CEO of IEX Group Brad Katsuyama by Philip Montgomery for The Wall Street Journal View in High-Res

    "The stock market is rigged," Michael Lewis tells Fresh Air's Terry Gross. “It's rigged for the benefit for really a handful of insiders. It's rigged to … maximize the take of Wall Street, of banks, the exchanges and the high-frequency traders at the expense of ordinary investors.”

    Lewis is the author of several books about the stock market, including Liar’s Poker and The Big Short. His new book Flash Boys is about the form of computerized transactions known as High Frequency Trading, in which the fastest computers with the most high speed connections get the information first, and make the trade before anyone else can. A nanosecond can make all the difference between how much money is made or lost on any transaction.

    Brad Katsuyama (above) figured out how the system is rigged and set out to change it. Lewis explains:

    "There is this perception that Wall Street insiders understand how Wall Street works — and it’s false. It’s especially false right now. Here you have this young man, this kid [Katsuyama] at the Royal Bank of Canada who’s engaged in this kind of science experiment in the market. He figures out at least one angle the predators are taking and he goes and talks to not just ordinary investors … the biggest investors, the smartest investors in the world and their jaws are on the floor. … Even these people have no idea what’s going on in the market and are being educated by this Canadian who has basically just arrived on the scene and has decided to make understanding [this] his business."

    Photo of President and CEO of IEX Group Brad Katsuyama by Philip Montgomery for The Wall Street Journal

  2. stock market

    money

    wall street

    michael lewis

    flash boys

    interview

    terry gross

  1. Posted on 30 July, 2012

    1,186 notes | Permalink

    Reblogged from thechosenjuan

    Tomorrow: The Federal Budget

    Tomorrow: The Federal Budget

    (Source: thechosenjuan)

  2. Money

  1. xkcd takes on Money View in High-Res

    xkcd takes on Money

  2. economy

    money

    xkcd

  1. nprfunfacts:

    The official font of President Obama’s presidential campaign was Gotham.

    Everything written on this blog is sung in Comic Sans.

  2. npr

    trivia

    facts

    obama

    font

    helvetica

    gotham

    press

    print

    writing

    weekend edition

    money