Re:The Dark Pool Iceberg
by kasey_junk on Sunday June 29, 2014 @11:50PM
(#7963616)
As someone who has worked in the industry, Flash Boys is literally the worst intro you could find into electronic trading. Dark Pools by Scott Patterson is much, much better (and even it gets basic facts incorrect).
Agreed, as someone who worked in HFT and thus has a positive bias towards it, I found Dark Pools to be an extremely informative and factual historical account of the industry even if the author's opinions disagree with mine.
Flash Boys however I can't even get through because the author backs an extremist negative position with completely incorrect facts. I fill with seething rage every time I realize how much more public exposure Flash Boys gets.
Re:The Dark Pool Iceberg
by kasey_junk on Monday June 30, 2014 @12:28AM
(#7963700)
I wouldn't say he backs an extremist negative position. In fact, if you read carefully, he is quite adamant in his assertion that HFT is great. As long as it is in the service of large buy side institutions he has no problem with it. If on the other hand, HFT firms dare to upend the relationship with traditional ibanks, then he gets upset.
Well, if it has nothing else going for it, it was interesting enough to pique my curiosity and make me want to read more. To my way of thinking, any book that accomplishes at least that, is somewhat worthwhile.
Re:The Dark Pool Iceberg
by BrandonMarc on Monday June 30, 2014 @12:51AM
(#7963744)
The concept is clearly in the cultural zeitgeist ... heck, the recent Jack Ryan movie had this as a major part of the plot.
Anyway, FWIW, if anybody here hasn't read Flash Boys by Michael Lewis, it's a pretty interesting read that covers some ground related to the content of this article: HFT, dark-pools, etc. I understand that it's not without some controversy, but I found it damn interesting all the same.