Broken Markets

Broken Markets

How High Frequency Trading and Predatory Practices on Wall Street Are Destroying Investor Confidence and your Portfolio

Book - 2012
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The markets have evolved at breakneck speed during the past decade, and change has accelerated dramatically since 2007's disastrous regulatory "reforms." An unrelenting focus on technology, hyper-short-term trading, speed, and volume has eclipsed sanity: markets have been hijacked by high-powered interests at the expense of investors and the entire capital-raising process. A small consortium of players is making billions by skimming and scalping unaware investors -- and, in so doing, they've transformed our markets from the world's envy into a barren wasteland of terror. Since these events began, Themis Trading's Joe Saluzzi and Sal Arnuk have offered an unwavering voice of reasoned dissent. Their small brokerage has stood up against the hijackers in every venue: their daily writings are now followed by investors, regulators, the media, and "Main Street" investors worldwide. Saluzzi and Arnuk don't take prisoners Now, in "Broken Markets," they explain how all this happened, who did it, what it means, and what's coming next. You'll understand the true implications of events ranging from the crash of 1987 to the "Flash Crash" -- and discover what it all means to you and your future. Warning: you will get angry (if you aren't already). But you'll know exactly "why" you're angry, "who" you're angry at, and "what" needs to be done
Publisher: Upper Saddle River, N.J. : FT Press, c2012
ISBN: 9780132875240
0132875241
Branch Call Number: 332.6322 A768b 2012
Characteristics: xviii, 296 p. : ill. ; 24 cm
Additional Contributors: Saluzzi, Joseph 1966-

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jnettehemmen
Jan 06, 2016

please send to broadview

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conted
Sep 03, 2014

Good book. Very detailed and better than Flash Boys (this book was written a couple years prior to that book). Towards the end, the book does repeat it some, but it is more from the angle of the author trying to come full circle in order to prove earlier ascertations.

s
StarGladiator
Jun 20, 2014

The book which should have received the publicity Michael Lewis' book, Flash Boys, unjustifiably received! Although written by a trader, it explains how cleverly the markets have been rigged [not all of them, it concentrates on internalization, dark pools and HFT]. Don't necessarily agree with the end suggestions as I've never agreed with the process of speculation, which is purely financial manipulation on the destruction side, as John Maynard Keynes believed towards the end of his life [he was a speculator for a portion of his adult life].

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