Yet another classic from Michael Lewis who is definitely numero uno when it comes to Finance Journalist. This iteration takes on HFT trading and their ways of rigging the so called efficient markets.
Central idea is taut - how trading shops with hitherto unknown names (e.g. GETCO) started accounted for a substantial percentage of equity trades. Also on offer is play along by wall street banks and exchanges. However just as Michael Lewis did with his seminal Liar's Poker and recent Big Short - the human thread of an unlikely crusader (Brad Katsuyama) in this case is the real story.
Overall a much enjoyed book after a long time. Pretty much finished in 2-3 sittings over a weekend. Only downside for someone could be spells of dry details on communications hardware. Otherwise a highly recommended for someone remotely interested in the subject.
2 comments:
It read a bit like John Grisham combined with Michael Crichton. Only problem was that the hero did not walk away with a few million at the end.
@Vinayak - thats true. I also liked the spooky ending with ML imploring reader to find whats at the other end of puzzle - FCC license number 1215095 and its Indian connection (Manoj Narang) :)
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