stock market is a rigged game

stock market is a rigged game

stock market is a rigged game 

stock market is a rigged game  ?

Surely not right? Well this guy thinks the stock market is a rigged game, cause he knows all the ins and outs. His name is Michael Lewis, author of a new book about high-frequency trading called "Flash Boys," this form of "front running" is completely legal.

He says The U.S. stock market is rigged, with elite traders buying access to a high-speed network that allows them to figure out what you've just ordered, order it first, then raise the price before your order is complete.

"The insiders are able to move faster than you," Lewis said on "60 Minutes" on Sunday night. "They're able to see your order and play it against other orders in ways that you don't understand. They're able to front run your order."

See the video interview below. 


The advantage adds up to less than a second -- in some cases a fraction of a millisecond -- but thanks to the powerful computers masterminding the trades, it's enough time to make serious money.

"One hedge fund manager said, 'I was running a hedge fund that was $9 billion and that we figured that the, just our inability to, to make the trades the market said we should be able to make was costing us $300 million a year.' That was $300 million a year in someone else's pocket," Lewis said.

I mean fucking hell, we get it, every trader knows the risks and manipulation that goes on everyday when they trade the global market. This guys comments is no surprise to me. But I put it up for your keen interest anyway. It is quite interesting.

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