You need to sign in or sign up before continuing.
Take a photo of a barcode or cover
4.03 AVERAGE
4.03 AVERAGE
challenging
informative
medium-paced
No one has fueled my disdain for capitalism and our current financial systems than Michael Lewis. Flash Boys gives us a close look at high frequency trading and the bad behavior of big banks in a very compelling narrative. But it also gives us some hope in the character of Brad Katsuyama. The world needs more people like him.
informative
medium-paced
disturbing read -- it is hard to have any trust in the financial sector, which is bad! The narrative based on people is probably necessary, but also limited the scope. The inability to _really_ name-names is a bit of a bummer.
Interesting story that kept me turning page after page. What I especially appreciated was the background of many of the individuals and it was interesting to see their character and personalities.
Unlike other reviewers I didn't feel that the level of trading detail was excessive, nor did I think ti bogged down the story in any meaningful way. I actually don't know if it could have been summarized or simplified much more without still making sense what is going on, and since I was on an audiobook I think a morass of unnecessary description would be especially felt.
I appreciate another reviewers comment that the book seemed unfinished, however, again I'm not sure how it could be done any other way, as IEX is still ongoing in its battle with HFTs and there has not been any real world conclusion (that I know of). The alternative would have been to wait until the sage played itself out before detailing what is going on, but as the end of the book seems to hint, HFTs are not going away without a fight.
In the end, I mostly am on board with Michael Lewis in what seems to be his premise that HFT is a drain on the system, and benefits none except for the HFT. While one can argue that exploiting inefficiencies is a basic right of capitalists the world over, in this case it seems to be a lot of "wasted" resources (human, physical, and monetary) for something that does not provide any real benefit to society. Indeed although the micro transactions may result in just pennies here or there (in some cases, but can be more in others), the overall effect is a billion dollar tax on investors transactions overall.
Unlike other reviewers I didn't feel that the level of trading detail was excessive, nor did I think ti bogged down the story in any meaningful way. I actually don't know if it could have been summarized or simplified much more without still making sense what is going on, and since I was on an audiobook I think a morass of unnecessary description would be especially felt.
I appreciate another reviewers comment that the book seemed unfinished, however, again I'm not sure how it could be done any other way, as IEX is still ongoing in its battle with HFTs and there has not been any real world conclusion (that I know of). The alternative would have been to wait until the sage played itself out before detailing what is going on, but as the end of the book seems to hint, HFTs are not going away without a fight.
In the end, I mostly am on board with Michael Lewis in what seems to be his premise that HFT is a drain on the system, and benefits none except for the HFT. While one can argue that exploiting inefficiencies is a basic right of capitalists the world over, in this case it seems to be a lot of "wasted" resources (human, physical, and monetary) for something that does not provide any real benefit to society. Indeed although the micro transactions may result in just pennies here or there (in some cases, but can be more in others), the overall effect is a billion dollar tax on investors transactions overall.
Michael Lewis is one of the great non-fiction authors of our time. He brilliantly tells tales involving highly technical details in ways that are entertaining and engaging, and–like any great artist–he makes the feat look easy. Lewis uses the colorful character and language of his subjects and weaves their personal stories into the greater picture.
The topic of Flash Boys is high-frequency trading (HFT). High-frequency traders utilize the fastest hardware, software, and internet connections–all carefully located–to engage in arbitrage schemes that suck billions of dollars from investors by beating their trades to the exchanges and raising the prices. What is most disturbing is how so many of the exchanges, banks, and brokers enable it, profit from it, or are complicit in it.
Flash Boys follows the men who exposed this dark underworld of Wall Street and set out to create their own alternative stock exchange that would play by its own rules, rules that are fair to investors. It also follows two other stories connected the HFT movement. This is a great story told by a great storyteller, and it is essential reading for anyone who desires a better understanding of how the world works.
The topic of Flash Boys is high-frequency trading (HFT). High-frequency traders utilize the fastest hardware, software, and internet connections–all carefully located–to engage in arbitrage schemes that suck billions of dollars from investors by beating their trades to the exchanges and raising the prices. What is most disturbing is how so many of the exchanges, banks, and brokers enable it, profit from it, or are complicit in it.
Flash Boys follows the men who exposed this dark underworld of Wall Street and set out to create their own alternative stock exchange that would play by its own rules, rules that are fair to investors. It also follows two other stories connected the HFT movement. This is a great story told by a great storyteller, and it is essential reading for anyone who desires a better understanding of how the world works.
informative
medium-paced
An informative and entertaining look at Wall Street and what happens when high frequency trading firms rule the roost. A definite must read if you are interested in learning about why Wall Street crashed in 2008, and how it is likely to crash in the future.
Loved it - but then I have really enjoyed all Michael Lewis's books.
informative
inspiring
tense
fast-paced
adventurous
challenging
informative
medium-paced
The 10 hour audiobook is well read by Dylan Baker. Lewis wrote some well-known books such as “The Blindside” and “The Big Short” but I had never heard of this particular one. It talks about the stock exchange and how things have changed by HFT or high-frequency trading, the need for speed, and how it creates an unfair advantage. The narrator reads it in an interesting voice, but it was so detailed that my mind would just wander. The author introduces a lot of interesting men (and they are all men) and their role on Wall Street. Overall, it was too detailed and not sure how much I’ll actually retain.