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The book "Flash Boys" by Michael Lewis chronicles the rise of HFT, and basically argues that it doesn't really provide that much of a benefit. http://www.amazo
by henrik_w 12y ago
The book "Flash Boys" by Michael Lewis chronicles the rise of HFT, and basically argues that it doesn't really provide that much of a benefit.
http://www.amazon.com/Flash-Boys-Michael-Lewis/dp/0393244660/ http://www.amazon.com/Flash-Boys-Michael-Lewis/dp/0393244660...
- kasey_junk 12y agoStandard PSA about "Flash Boys". If you are interested in HFT you are better off quite literally not reading that book than reading it. It is very biased and largely inaccurate. If you want to read narrative non-fiction about HFT, "Dark Pools" by Patterson, which also has its mistakes, is much better.
- henrik_w 12y agoAre there any other resources you can recommend for learning more about HFT?
- kasey_junk 12y agoFor blog post style reading 'yummyfajitas' series on HFT is good: https://www.chrisstucchio.com/blog/2012/hft_apology.html https://www.chrisstucchio.com/blog/2012/hft_apology.html For technical books: - Trading & Exchanges by Harris (a little out of date) - Algorithmic Trading & DMA by Johnson. On the narrative non-fiction side Dark Pools is basically it.
- henrik_w 12y agoGreat, thanks!
- paperwork 12y agoThere are several books which speak about HFT at a high level. If you are curious about the actual mechanics of stock exchanges and (a bit about) how various parties make their money, I wrote a bit about it at http://falconair.github.io/2015/01/05/financial-exchange.html http://falconair.github.io/2015/01/05/financial-exchange.htm...
- Judson 12y agoI would also recommend reading "Flash Boys: Not so Fast" (http://www.amazon.com/dp/B00P0QI2M2 http://www.amazon.com/dp/B00P0QI2M2).
- CyberDildonics 12y agoWritten by a high frequency trader. Are there any third parties that have deeply explored HFT and come out in defense of it?
- kasey_junk 12y agoSure. Vanguard has the widely publicized view that HFT helps to bring down the cost to retail investors for instance http://www.ft.com/cms/s/0/ff8c6486-cb37-11e3-ba95-00144feabdc0.html#axzz3ReBeAyhg http://www.ft.com/cms/s/0/ff8c6486-cb37-11e3-ba95-00144feabd...
- tptacek 12y agoThis is a really fun read. Thanks for pointing it out!
- lrm242 12y agoSuggest you read this rebuttal. Lewis' book is deeply flawed. http://www.amazon.com/Flash-Boys-Insiders-Perspective-High-Frequency-ebook/dp/B00P0QI2M2 http://www.amazon.com/Flash-Boys-Insiders-Perspective-High-F...