Re:U.S. stock markets are rigged, says author Michael Lewis
by cma on Monday March 31, 2014 @02:13AM
(#7499935)
It's not just insider information that is a problem. Is the world really better off because UBS/hedge-funds hire out satellites to surveil Wal-mart parking lots in order to get an earnings prediction 1 day before Wal-mart files their public earnings disclosure?
Re:U.S. stock markets are rigged, says author Michael Lewis
by dclowd9901 on Monday March 31, 2014 @02:52AM
(#7500051)
Tell me you have a source for this.
Re:U.S. stock markets are rigged, says author Michael Lewis
by cma on Monday March 31, 2014 @03:33AM
(#7500152)
http://www.cnbc.com/id/38722872
http://gawker.com/hedge-funds-are-now-poring-over-satellite-...
wasn't necessarily goldman-sachs, changed the post
Re:U.S. stock markets are rigged, says author Michael Lewis
by interknot on Monday March 31, 2014 @06:39AM
(#7500613)
Skybox is already launching satellites explicitly for this purpose (and others):
http://skybox.com/products#applications
Scroll through to the "Financial Trading Intelligence". If only they had offices in places besides California...
http://www.ns.umich.edu/new/releases/21535-high-frequency-tr...
Haim Bodek discusses how certain exchanges provide special order types that give traders priority over others:
http://online.wsj.com/news/articles/SB1000087239639044398920...
Of course HFT is just a small part of the built-in asymmetries in the markets. Firms exploiting their own clients, conflicted investment advice, corrupt fund management, routinized insider trading, retail bucket shops, hidden fees, payment for order flow, specialist/MM privileges, etc. are all ways that investors and beneficiaries can be disadvantaged.