Author Topic: Flash Boys - Michael Lewis  (Read 17731 times)

ItsAValueTrap

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Re: Flash Boys - Michael Lewis
« Reply #20 on: April 21, 2014, 09:52:39 AM »
1- I'm not sure if anybody in the financial media picked up on the errors in his book.

They did pick up on the lie that the CEO of the BATS exchange told though.  To some degree, I actually kind of liked BATS in the past.  They were the underdog trying to take market share from the incumbents.  It used to be that they were aggressive with pricing.  (I haven't checked if that is currently still the case.)

2- What I find bizarre is that some people actually defend HFT, e.g. Kid Dynamite.

3- The HFTs are attacking Lewis because he may destroy their entire livelihood.  If the SEC, exchanges, and brokers stop giving them special trading advantages... their business model will be in a world of trouble.  Then they'd actually have to trade based on skill (which is what Swifttrade, Title Trading, SMB Capital, Bright Trading, etc. do).

Their business model is based on fleecing investors' order flow and paying kickbacks to the brokers and exchanges.  Obviously I think that this business model is stupid and destroys value.
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Liberty

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Re: Flash Boys - Michael Lewis
« Reply #21 on: April 21, 2014, 10:13:20 AM »
1- I'm not sure if anybody in the financial media picked up on the errors in his book.

You're probably right, I was probably thinking of the things I read online.
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SmallCap

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Re: Flash Boys - Michael Lewis
« Reply #22 on: October 24, 2014, 11:48:28 AM »
Just finally got around to reading this book.

I get the sense both from the pre launch PR and the book itself that he expected that the book would be a shot across the bow of the US market and that it would change behavior and regulation, Basically validate the good guys and bring down the bad guys.

He also seems to be doing a great sales job for the exchange created by the RBC guys.

So since this book has come out besides a bunch of people complaining about being screwed is anyone aware of any changes that have come about as a result of this book? Is the new exchange working as planned and is it being used? any changes in regulations or practices on wall street?
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Liberty

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Re: Flash Boys - Michael Lewis
« Reply #23 on: October 24, 2014, 12:45:38 PM »
So since this book has come out besides a bunch of people complaining about being screwed is anyone aware of any changes that have come about as a result of this book? Is the new exchange working as planned and is it being used? any changes in regulations or practices on wall street?

http://iextrading.com/insight/stats/

Their volume seems to be going up, so that's good.

But for other changes, it could take a while. These things are always very slow, but there are certainly a lot more people aware and thinking of these issues than before (regulators, politicians, voters, investors, etc).
« Last Edit: March 13, 2015, 08:13:46 PM by Liberty »
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Liberty

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Re: Flash Boys - Michael Lewis
« Reply #24 on: March 13, 2015, 08:13:27 PM »
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Jurgis

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Re: Flash Boys - Michael Lewis
« Reply #25 on: March 14, 2015, 08:05:05 AM »
I find Michael Lewis to be pompous, self important, sensationalist prick. Despite his proclaimed self-righteousness, he fit Salomon very well.
« Last Edit: March 14, 2015, 08:12:36 AM by Jurgis »

Liberty

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Re: Flash Boys - Michael Lewis
« Reply #26 on: March 16, 2015, 07:34:20 AM »
I find Michael Lewis to be pompous, self important, sensationalist prick. Despite his proclaimed self-righteousness, he fit Salomon very well.

So you work in HFT, eh?
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fareastwarriors

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Re: Flash Boys - Michael Lewis
« Reply #27 on: March 16, 2015, 07:54:48 AM »
Bloomberg View columnist Barry Ritholtz interviews Brad Katsuyama, President and Chief Executive Officer of IEX Group, formerly the Global Head of Electronic Sales and Trading at RBC Capital Markets. They discuss dark pools. This interview aired on Bloomberg Radio.


http://www.bloomberg.com/podcasts/masters-in-business/

Jurgis

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Re: Flash Boys - Michael Lewis
« Reply #28 on: March 16, 2015, 09:05:48 AM »
I find Michael Lewis to be pompous, self important, sensationalist prick. Despite his proclaimed self-righteousness, he fit Salomon very well.

So you work in HFT, eh?

I don't have to answer this, but no.

And my opinion about him was the same before "Flash Boys"
« Last Edit: March 16, 2015, 09:07:43 AM by Jurgis »

Liberty

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Re: Flash Boys - Michael Lewis
« Reply #29 on: March 16, 2015, 09:10:14 AM »
I find Michael Lewis to be pompous, self important, sensationalist prick. Despite his proclaimed self-righteousness, he fit Salomon very well.

So you work in HFT, eh?

I don't have to answer this, but no.

And my opinion about him was the same before "Flash Boys"

Opinions are opinions, no worries.

But you have to admit, someone just had to ask, it was too obvious  :D
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