Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : The *NEW* Frank Coluccio Technology Forum -- Ignore unavailable to you. Want to Upgrade?

To: Frank A. Coluccio who wrote (30569)	7/11/2009 4:24:08 PM
From: axial	Read Replies (2) \| Respond to of 46821

Apologies, Frank. I jumped the tracks. For readers who may not understand what's involved here, this site may be of assistance: nuclearphynance.com and this link: nuclearphynance.com "It’s a fairly complex trade where a single book can consist of hundreds (thousands) of positions. For this reason, one needs to have a certain amount of back-office and risk management capability to make it worth one’s while." "Dispersion traders can come into a single stock and sometimes sell signifcant [sic] vegas (read: millions) before anyone knows what is happening." --- This isn't the place to explore possible linkages between futures, HFT and dispersion trading. HFT isn't exclusive to Goldman Sachs. Someone who has written extensively on the associated issues is Rick Bookstaber, most recently with *A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation* His blog refers to HFT here; comments are worthwhile reading too: The Arms Race In High Frequency Trading rick.bookstaber.com --- The questions in this area all go to the greater issue: systemic risk in finance and the economy. Technology is a key accelerant, and the part it plays shouldn't be ignored. Jim

To: Frank A. Coluccio who wrote (30569)	10/11/2014 6:57:49 AM
From: axial	1 Recommendation Recommended By Cautious_Optimist Read Replies (1) \| Respond to of 46821

Sector attacks on Michael Lewis’s Flash Boys. Reference links: -- Thor -- Putting the hammer to high-frequency traders -- Message 27098180 -- Message 29467453 -- nytimes.com ~~~ 'Ever since Flash Boys was released this past spring, stock market insiders have not been shy in their complaints of a few factual inaccuracies in the book. These complaints have been spewed loudly at market structure conference after conference, in speeches, notes to clients, and even in blog posts. Most troubling is how they have been spewed by senior regulators. At first, we were amused. We privately laughed – knowing that the book had struck truth, and knowing that the best proof that it had done so was the vitriol it inspired among its conflicted critics. A few months back, a blog appeared called Lewis Fiction, and it repeatedly pointed out small errors in the book. Its idea was/is that these small errors discredit the premise of Flash Boys. We have ignored it for the most part, much as one ignores crazy Uncle Louie at Christmas parties, or gnats in our backyard. Make no mistake – Michael Lewis in Flash Boys eloquently captured a big problem, and big ideas, and told it clearly to investors everywhere. And its critics have attached themselves to small corrections and little ideas. A month back we guest-published a point by point response to the false claims made by the Lewis Fiction blog written by R.T. Leuchtkafer. It was titled Guest Post: R.T. Leuchtkafer shows how poorly informed the LewisFiction Blog Is. The Lewis Fiction blog continued to put out drivel. Its Twitter sent out “promoted” tweets. Lies continued to be repeated, and sadly to be passed around the industry behind the scenes by people who know inside the book is correct, and who do know better. It frankly is grating. This is why today, we wish to share with you a second point by point response to Lewis Fiction’s false attacks against Flash Boys – again written by R.T. Leuchtkafer. Please read this! And please send it to the SEC’s Trading and Markets (tradingandmarkets@sec.gov), to your friends, and tweet it. Lies by others do not deserve to be spread, and they deserve to be set straight. Without further adieu [sic], here is R.T. Leuchtkafer’s 2nd response unedited and pure:' *Michael Lewis’s Flash Boys – and its Accuracy* Jim [Emphasis added]