Rookie Currency Traders Are Causing Trouble at Crucial Moments

From bloomberg.com

It’s been something of a common lament among Wall Street veterans for a while now. And it goes, more or less, like this: All these darn twenty-something-year-olds around here have no idea what they’re doing. Perhaps it’s just the typical grousing of community elders, but last week, the Bank for International Settlements said there may be something to the notion. Tucked deep into a report on foreign-exchange market liquidity was a brief paragraph on how rookie traders could be partly to blame -- along with falling volumes and the growing prevalence of electronic trading -- for the flash crashes that have roiled ... (full story)