{"id":12949,"date":"2014-04-03T18:50:52","date_gmt":"2014-04-03T23:50:52","guid":{"rendered":"http:\/\/bucktownbell.com\/?p=12949"},"modified":"2014-04-03T18:50:52","modified_gmt":"2014-04-03T23:50:52","slug":"what-michael-lewis-gets-wrong-about-high-frequency-trading","status":"publish","type":"post","link":"http:\/\/bucktownbell.com\/?p=12949","title":{"rendered":"What Michael Lewis Gets Wrong About High-Frequency Trading"},"content":{"rendered":"<blockquote><p>The idea that retail investors are losing out to sophisticated speed traders is an old claim in the debate over HFT, and it\u2019s pretty much been discredited. Speed traders aren\u2019t competing against the ETrade guy, they\u2019re competing with each other to fill the ETrade guy\u2019s order. While Lewis does an admirable job in the book of burrowing into the ridiculously complicated system of how orders get routed, he misses badly by making this assumption.<\/p><\/blockquote>\n<p>via <a href=\"http:\/\/www.businessweek.com\/articles\/2014-04-01\/what-michael-lewis-gets-wrong-about-high-frequency-trading\">What Michael Lewis Gets Wrong About High-Frequency Trading &#8211; Businessweek<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The idea that retail investors are losing out to sophisticated speed traders is an old claim in the debate over HFT, and it\u2019s pretty much been discredited. Speed traders aren\u2019t competing against the ETrade guy, they\u2019re competing with each other &hellip; <a href=\"http:\/\/bucktownbell.com\/?p=12949\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1091],"tags":[740,739],"class_list":["post-12949","post","type-post","status-publish","format-standard","hentry","category-editorial","tag-hft","tag-wall-street"],"_links":{"self":[{"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/posts\/12949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12949"}],"version-history":[{"count":1,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/posts\/12949\/revisions"}],"predecessor-version":[{"id":12950,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=\/wp\/v2\/posts\/12949\/revisions\/12950"}],"wp:attachment":[{"href":"http:\/\/bucktownbell.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12949"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/bucktownbell.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}