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We're talking about different things, actually responding quickly to information is not the problem, gaining access to it before other people can is, which is w
by wavesounds 13y ago
We're talking about different things, actually responding quickly to information is not the problem, gaining access to it before other people can is, which is what Michael Lewis's book was all about. Nobody is saying Algorithmic Trading is wrong, just front-running in HFT that's the problem.
- tptacek 13y agoLook more carefully at Lewis' scenario: there are two kinds of entities that have access to secret information: informed institutional traders and HFTs. Lewis is effectively arguing that there should be only one.