Michael Lewis, famous for his books such as Liar's Poker, is finally coming out with a new book called Flash Boys that will explain in detail how the US market is rigged due to the HFT phenomenon. As someone who's read his book and know how thorough he is, I'll be awaiting his book with excitement!
I think "rigged" is a very strong overstatement, and most in the biz seem to agree. But it's one of the main reasons a small investor shouldn't bother trying to scalp or otherwise trade too frequently.
I agree. The word "rigged" is a overstatement. I read the Liar's Poker and I found it very interesting. I am definitely going to get this book as soon as possible.
I just grabbed the book today and started reading the first couple chapters. It was interesting no doubt but if you've already read Mr. Katsuyama's story through the nyt special or 60 minutes, you'll already know what to expect from the book. Fun read nevertheless.
Books really aren't my way of learning anything about investing. Looks like this is a very specific one too, something that might not interest me that much. But I do hope you enjoy reading it and learn a thing or two!
Looking forward to reading the book. Any information is helpful and one can decide what to use and how to use it as needed. To state that the US market is rigged does seem a bit too much and it might be a sales ploy. Markets are normally inclined to be beneficial to the bigger traders, that is just the way it goes.
I read his previous books also. I love the amount of truth in his delivery. I would agree that rigged is actually the correct terminology.
