In Michael Lewis's game-changing bestseller, a small group of Wall Street iconoclasts realize that the U.S. stock market has been rigged for the benefit of insiders.
One of the central figures in the book is Brad Katsuyama, a former trader at the Royal Bank of Canada (RBC), who discovers that high-frequency traders are using sophisticated technology to gain an unfair advantage over traditional investors. Katsuyama and his team set out to create a new stock exchange, known as the Investors Exchange (IEX), that aims to level the playing field and protect investors from predatory trading practices.
Through detailed reporting and compelling storytelling, Lewis shines a light on the inner workings of the financial industry and the complexities of modern stock trading. He delves into the technical aspects of high-frequency trading, such as co-location and latency arbitrage, and explores the ethical and regulatory questions raised by these practices.
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Categories: Personal Finance Economy