While doing the tour to promote his new book “Flash Boys, ” Michael Lewis showed up today on CNBC with the star of his story in addition to the head of BATS. What transpired was pure tragicomedy. While the Lewis team mounted a full frontal attack against the High Frequency Trading machine, the dude from BATS went apoplectic.
I’ve read Lewis’ book and agree with many of his findings. It’s well-written, taken from a unique perspective, and well worth the $10 Kindle price. But I have to ask: What took you so long Michael?
HFT has been the bane of traders’ existence for many years now. We’ve been squawking about it since 2011. See:
Hard stop on the shameless self-promotion.
Anyway, here is the clip from CNBC for your viewing pleasure.