Make sure you check out tonight's 60 Minutes piece on high frequency trading tonight.
What is interesting here is how no one on Wall St was willing talk about it. They couldn't even go in and see the building for crying out loud.
I can't help but ask: What is Wall St trying to hide?
As Steve notes below, high frequency trading appears to just another game where Wall St attempts to "master the markets". In other words" "manipulate them.
It appears the only way to make money on the street at these days is by blatantly cheating. If what was going on was legitimate then they wouldn't be avoiding 60 Minutes like the plague.
I don't know about you but it makes me extremely nervous that there are only 15 people that are basically running "the nerve center" of the markets.
Again a few questions:
Who are these people and what do they have the ability to do when it comes to market making? Where did they used to work before they came to the exchanges? Goldman Sachs? JP Morgan? Band of America?
I will update this tonight if anything newsworthy comes out in this piece.
However, since nobody will talk, I think the chances of getting any solid information as to how this HFT game actually works are slim to none.
I'll say it again: Why anyone invests their life savings in this shark tank is beyond me.