Michael Lewis says Wall Street is rigged and you don't have a chance.

[son of lockman]

[DJ_Chaps]

LOL. I guess I'll hear him out.

[DJ_Chaps]

Oh, so the guy with the faster car got to the store first? OMGGGGG RIGGED.

fucking quack. I remember thinking it was rigged.....when I brand new to trading.

[DRK Star]

try to find the entire interview. It was really interesting. 60 minutes interview was probably around 10-13 minutes long.

[Brittney Griner's Clit]

It's obviously rigged. At what level to which it is rigged is hard to ascertain.

With that said, it is also obvious that this dude on 60 minutes has no clue of the heavy hitters are or how they do it. Without watching it I can say with utmost certainty that no major secrets will be released.

[DJ_Chaps]

When I was a prop trader for a firm up here, we had dedicated high speed lines for our quotes and order routing etc..... were we part of the problem? I mean, a fast as I could punch in, I had my shares.

[Brittney Griner's Clit]

When I was a prop trader for a firm up here, we had dedicated high speed lines for our quotes and order routing etc..... were we part of the problem? I mean, a fast as I could punch in, I had my shares.

If you are a super boss poker player you will still eek a profit in a poker game that involves two guys colluding and a dealer sneaking chips out of the pot.

[monsterj]

M. Lewis is a quack, and is obviously a shill for this new "exchange".

RBC and other minor players realized they were late to the ball game, cried foul, and wanted to retard the liquidity that HFT provide. Basically, the shitty banks/hedge funds decided they were not making enough money and are blaming the tight spreads and fast computers. It is laughable.

The only people effected by HFT are idiot traders who listen to the squack box, think they are hearing information first hand and enter a trade and get pissed when they try and lift an offer on the market but end up getting filled 10 ticks higher. This does NOT effect john q. investor.

As an aside, I work at a top firm as an options market maker.

[Brittney Griner's Clit]

I wonder what the percentage is of shills is compared to normal folks that appear on these investigative news programs. I bet the number is so high it's mind blowing.

[4Dragons]

Sonny's threads mostly just make my eyes bleed.

[WillieMcFML]

try to find the entire interview. It was really interesting. 60 minutes interview was probably around 10-13 minutes long.

full interview

eh, won't embed. go here:
http://www.cbsnews.com/news/is-the-u...market-rigged/

saw this on Clayton Newnam's blog btw:
http://cnew27.tumblr.com/

former poker pro starting a new career as a trader in chicago, very interesting

[zealanddonk]

saw this on Clayton Newnam's blog btw:
http://cnew27.tumblr.com/

former poker pro starting a new career as a trader in chicago, very interesting

Where's Gank when you need him

[Sanlmar]

Michael Lewis is gold.

Liar's Poker, The Big Short, Moneyball, The Blind Side.

Offers accessible financial insights through character driven prose. Liar's Poker simply tremendous.

In "Flash Boys" Lewis hitches his wagon to a fairly dull Canadian (Brad Katsuyama). I know, I know - I am being redundant.

Still required reading. But I will spare you the expense of Kindle or whatever.

This NY Times adaptation was fairly complete, I bet. Great read. Unless you just enjoy Lewis's writing style this is prolly enough.

http://www.nytimes.com/2014/04/06/ma...ewis.html?_r=1

[Sanlmar]

try to find the entire interview. It was really interesting. 60 minutes interview was probably around 10-13 minutes long.

full interview

eh, won't embed. go here:
http://www.cbsnews.com/news/is-the-u...market-rigged/

saw this on Clayton Newnam's blog btw:
http://cnew27.tumblr.com/

former poker pro starting a new career as a trader in chicago, very interesting

Clayton Newman? I have no idea what I just read. He doesn't reveal a goddamn thing about his approach. Poker players who became traders and vice versa. Not rare. People who embrace risk and seek to place themselves in the highest EV situation they are capable of identifying. Dime a dozen. Like most poker players, most traders eventually.... you know the ending.

Alan Farley - The Daily Swing Trade (TheStreet.com). Haven't subscribed for nearly a decade. Been around forever. One of many influences who taught me how to think. Of course, I ignored most of his discipline first time around and paid but I now recognize his wisdom. His stuff is out there on the web. Prolly get a free trial daily newsletter with trade ideas from TheStreet.com. He is all about identifying the +EV trade through technical analysis.

Get your mind right & stop reading that porn. Tell me what you think....

[Sanlmar]

M. Lewis is a quack, and is obviously a shill for this new "exchange".

RBC and other minor players realized they were late to the ball game, cried foul, and wanted to retard the liquidity that HFT provide. Basically, the shitty banks/hedge funds decided they were not making enough money and are blaming the tight spreads and fast computers. It is laughable.

The only people effected by HFT are idiot traders who listen to the squack box, think they are hearing information first hand and enter a trade and get pissed when they try and lift an offer on the market but end up getting filled 10 ticks higher. This does NOT effect john q. investor.

As an aside, I work at a top firm as an options market maker.

HFT made fish food out of retail traders.

ETrade & Ameritrade platform traders were/are paying what they think are low commissions made possible by the kickbacks and rebates offered by predatory exchanges.

[CrackPipes and Kakfights]

Never has one guy milked a short term gig at salomon for so long. I immediately distrust dudes who give off signals that they want to be liked. Fortunately I never suffered this form of megalomania