The fact that lewisthe author of such conversationdriving books as liars poker, moneyball and the blind sidehas turned. Michael lewis explains his book flash boys cbs news. Michael lewis targets highfrequency trading with new book. Michael lewis on exposing wall streets biggest hightech. Sec spokesman john nester declined to comment on the book, but told cnbc. Lewis said in an interview with 60 minutes last night that the algorithmic trading programs have rigged the u. Lewis, the author of popular books like liars poker, the big short and the blind side, argued on the 60 minutes segment that highfrequency traders are able to frontrun other investors, by quickly spotting orders and positioning themselves to take advantage of them. Favorit book the problem of hft collected writings on high frequency trading stock market. Steve kroft gets a rare look inside the secretive world highfrequency trading, a controversial technique the sec is scrutinizing in which. Nortons catalog, and though itll appear this sunday on 60 minutes, todays amazon description still reads, blankly, michael lewis returns to the. Michael lewis 60 minutes interview on hft valuewalk. A spokeswoman for bnp said the email contained incorrect information regarding michael lewis. Michael lewis on the dangers of highfrequency trading. Bookwatch michael lewis says this book is the best ever written on stock trading published.
With his new book, the moneyball author takes on highfrequency traders who. If you have not done so already, make sure to check out this great write up on the michael lewis book from. And he makes the claim that this practice in some way takes money. What michael lewis gets wrong about highfrequency trading. Is highfrequency trading as bad as michael lewis wants. Bestselling author michael lewis says the stock market is rigged and even the richest, most sophisticated investors are getting screwed every day 60 minutes overtime cbs news. Others may have come before, but nobody else could have created the firestorm that lewis did by going on 60 minutes on sunday and announcing that highfrequency traders had rigged the market. Michael lewis is betting his new book about highspeed. And according to michael lewis, author of a new book about high frequency trading called flash boys, this form of front running is completely legal. Stock market is rigged, explains michael lewis on 60 minutes. He alleges that the stock market is rigged by a cabal of high frequency traders, stock. Lewis introduced the concept of highfrequency trading to the general public. Michael lewis is still a solid bet when it comes to translating aspects of the financial market dynamics into language understandable to the layman reader and flash boys focusing on the rise and effects of high frequency trading is no different. A wall street revolt is a book by the american writer michael lewis, published by.
Michael lewis views market as rigged in favor of high. Scrutiny for wall streets warp speed the new york times. Read more michael lewis flash boys and highspeed trading. An advocacy group for highfrequency traders is punching back after author michael lewis scorching comments on cbs 60 minutes sunday. In his book, which has been accompanied by promotional interviews and a muchdiscussed 60 minutes segment, lewis claims that the stock market is rigged in favor of highfrequency trading a. This insiders look at how highfrequency trading lets firms rake in billions in profits at the expense. The sec has been looking into highfrequency trading for a long time.
Michael lewis marketswiki, a commonwealth of market. Michael lewiss flash boys, about highfrequency trading. Michael lewis spent the first half of tuesday promoting his book about highfrequency trading on nbc. The book, as well as lewiss appearance on 60 minutes, ignited controversy and debate because of his claim that the stock market is rigged by a cabal of high frequency traders, stock exchanges, and wall street firms. Out of a handful of unlikelyreally unlikelyheroes, lewis fashions a story as compelling and unusual as any of his earlier bestsellers, proving yet again that he is the finest and funniest. Stock market rigged, says michael lewis in new book cbs news.
And the way they did it was they coiled 60 kilometers of fiber optic cable between themselves and the high frequency traders computers. By beating investors to exchanges, lewis argues that highfrequency traders can buy stocks and quickly sell them back at higher prices. Lewiss tv publicity tour started on sunday night with an appearance on 60 minutes. Its all about the world of highfrequency trading, the controversial approach. Michael lewis gave an interview to 60 minutes ahead of the publication of his book, flash boys. Lewis book chronicles the rise of highfrequency trading in the stock market. Starting on sunday with an interview on 60 minutes, mr.
Like all michael lewis books, its written with great clarity and fluency. Theres plenty of love for lewis and his books out there, but tyler cowen has been linking to some critiques. Netflix has acquired movie rights michael lewis reallife financial. What michael lewiss book has to do with your money the. This month, michael lewis retook wall street by storm with flash boys, his new book about a group of traders who banded together to understand the damage that. Theres only 1 way to beat highfrequency trading in a. Michael lewis, author of the book on wall street highfrequency trading, flash boys. This past sunday, lewis went on 60 minutes to discuss his new book flash boys, which delves into the story of how highfrequency traders, or hfts, are. The book is sure to generate attention on wall street. High frequency trading has been in the news more, thanks in part to michael lewis new book, flash boys. The next book from michael lewis comes out monday, and its called flash boys. In spite of no longer being actively involved in the wall street life liars poker hodder great.
Michael lewis wall street movie flash boys heads to. Lewis concludes that hft is used as a method to front run orders placed by investors. Michael lewiss new book about highfrequency trading dropped on monday with less than 24 hours notice and the media is scrambling to catch up. This article provides an overview of the book, flashboys. Highspeed traders rip investors off, michael lewis says. The book is a nonfiction investigation into the phenomenon of highfrequency trading hft in the us equity market, with the author interviewing and collecting the experiences of several individuals working on wall street. Michael lewis couldnt have timed it better if hed tried. A new book by michael lewis, the bestselling author of liars poker and moneyball, says the stock market is rigged in favor of highfrequency traders. Michael lewis appears tonight on 60 minutes in a widely anticipated interview at least among certain circles. A few nights ago, cbss 60 minutes provided a forum for author michael lewis to announce that wall street is rigged. So says author michael lewis in his new book about wall street and in the most quotable part of his recent 60 minutes segment. A wall street revolt is a book by the american writer michael lewis, published by w. Whats the big deal about michael lewis and highfrequency trading.
Michael lewis is entirely wrong about high frequency. Michael lewis gave an interview to 60 minutes ahead of the publication of. With a 60 minutes interview, an online excerpt and fullpage ad in the new york times, michael lewis new book flash boys. Lewis, discussing flash boys, his new book about computer. Game the system and get rich in just 8 simple steps editors note. After watching michael lewis highfrequency trading feature on 60 minutes, its easy to be disenchanted with the stock market. Critics of highfrequency trading say that by literally setting up their computers closer to the physical location of exchanges and other. In my alternative michael lewis story, the smart young whippersnappers build high.
Im halfway through the new michael lewis book the one that has been turned into not only a breathless 60 minutes segment but also a long excerpt in the new york times magazine. Michael lewis flash boys reveals how a group of unlikely characters discovered how some highspeed traders work the stock market to their. Michael lewis on 60 minutes says stock market is rigged. Michael lewis on the dangers of highfrequency trading michael lewiss new book flash boys raises red flags over the wall streets practice of. Kroft spoke with michael lewis, the author of flash boys, about how insiders are raising the. Michael lewis high frequency trading book business insider. Michael lewis says this book is the best ever written on. Michael lewis flash boys reveals how a group of unlikely characters discovered how some highspeed traders work the stock market to their advantage. A wall street revolt, published in 2014, explored the world of high frequency trading. And the way they did it was they coiled 60 kilometers of fiber optic cable between themselves and the highfrequency traders computers.
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