High-Speed Traders Rip Investors Off, Michael Lewis Says
From bloomberg.com
The U.S. stock market is a rigged game where high-frequency traders with advanced computers make tens of billions of dollars by jumping in front of investors, according to author Michael Lewis, who spent the past year researching the topic for his new book “Flash Boys.” While speed traders’ strategies, developed over the past decade with help from exchanges, are legal, “it’s just nuts” that they’re allowed, Lewis said during an interview televised today on CBS Corp.’s “60 Minutes.” The tactics are too complicated for individual investors to understand, he said. “The United States stock market, the most iconic market ...
(full story)