|Binro the Heretic |
I heard about this on "Fresh Air" yesterday and already have the book on my Kindle. I'm looking forward to reading it.
It seems like it's going to be excellent rage fuel.
and this is surprising?
I checked the date too - that %50 computerized trading number seems awfully low. I thought is was more like %80, unless I'm thinking of a different "why the market is rigged" stat that came about during the 2008 crisis.
The worst part of all of this is computerized trading loves instability, so it's in their best interests if the market rises and crashes as much as possible.
Well, not this specific gambit, but the general impact of high speed trading on the traditional stock market.
One of the better things in Jaron Lanier's most recent book is his discussions of the impact of computers on markets in general, things like this but also stuff like what happens when the automatic price undercutting algorithms used by online retailers like amazon form feedback loops and end up creating prices that have nothing to do with actual market conditions. There are a lot of problems with it, but that stuff, the discussion of innovation in terms of topology, and the stuff about the 70s New Age/Human Potential Movement's influence on ideas about the singularity and the overall libertarianish techno-utopian beliefs that are behind so much of what happens in Silicon Valley (both the place and the larger culture that it represents) and how the web and information technology in general are evolving all make it worth slogging through some of the more harebrained parts.
|That guy |
I'd been meaning to find a story on this for a while; thanks.
i tried to submit a cnbc video also "The Great HFT Debate", but it is stuck in hopper limbo with just 2 votes
|Jet Bin Fever |
It'll never be regulated. Something would have to go horribly horribly wrong for people to even care.
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