Customer Review

4.0 out of 5 stars Michael Lewis has had huge success with books like Moneyball, The Blind Side and Liar’s Poker and ..., 15 Aug 2014
This review is from: Flash Boys (Kindle Edition)
Michael Lewis has had huge success with books like Moneyball, The Blind Side and Liar’s Poker and now he continues to delve into the inner workings of the US financial system.

The stock market crash of 1988 started a process that has ended with computers replacing people. The vision we have in our head of people on the floor of a stock exchange exclaiming ‘sell, sell, sell’ is an entirely false one. The stock market now trades inside black boxes. These machines are overseen by people but very few would have a great knowledge of how these actually work. Even the experts are unable to fully say what goes on inside them and so the average investor has no hope of knowing.

The speed with which a trader could operate was subject to limits. Human beings worked on the floor and all the buying and selling went through them. By 2007, the exchanges were little more than piles of computers data centres. The only constraint was how fast an electronic symbol could travel.

Michael Lewis’s book puts forward the story of how the market are rigged. In order to do so he has carried out a huge amount of research and gained interviews with insiders to get to the bottom of the workings of the system. It highlights dark pools, private exchanges run by the big brokers with secret rules known only to themselves. He shows us how high-frequency traders were able to get access to information before it was sent out to other traders The markets were designed to maximise the number of encounters between high-frequency traders and ordinary investors. It’s almost difficult to believe the extraordinary lengths these people go to in order to make their connections a few milliseconds faster in order to gain an advantage over ordinary investors and other competitors.

This could all be an extremely dry read if it wasn’t for Lewis’s ability to put a great story across. It all adds up to an extremely readable account of some very complex systems and will hopefully go some distance in helping to change the structures that are currently in place.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No

Be the first person to comment on this review.

[Add comment]
Post a comment
To insert a product link use the format: [[ASIN:ASIN product-title]] (What's this?)
Amazon will display this name with all your submissions, including reviews and discussion posts. (Learn more)
Name:
Badge:
This badge will be assigned to you and will appear along with your name.
There was an error. Please try again.
Please see the full guidelines ">here.

Official Comment

As a representative of this product you can post one Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
The following name and badge will be shown with this comment:
 (edit name)
After clicking on the Post button you will be asked to create your public name, which will be shown with all your contributions.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.  Learn more
Otherwise, you can still post a regular comment on this review.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
 
System timed out

We were unable to verify whether you represent the product. Please try again later, or retry now. Otherwise you can post a regular comment.

Since you previously posted an Official Comment, this comment will appear in the comment section below. You also have the option to edit your Official Comment.   Learn more
The maximum number of Official Comments have been posted. This comment will appear in the comment section below.   Learn more
Prompts for sign-in
 


Review Details

Item

4.5 out of 5 stars (189 customer reviews)
5 star:
 (124)
4 star:
 (46)
3 star:
 (15)
2 star:
 (3)
1 star:
 (1)
 
 
 
£6.99
Add to wishlist
Reviewer


Top Reviewer Ranking: 70,013