Ask the Author: Lee Perry
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Lee Perry
The next book in my Soul’s Voice series, “The Torso Murders”, was inspired by Michael Lewis’s book, "Flash Boys". I immediately started downloading interviews and articles on how the stock market really works and having read what feels like gigabytes of information about dark pools and high frequency trading I agree with Mister Lewis; Wall Street is totally rigged. When you see people in those colored jackets running around yelling, that is just a performance; in stock exchanges everywhere, buyers and sellers meet digitally, inside black boxes.
The reality is that stock exchanges, for years now, execute trades in less than a half a millionth of a second. How fast is that? It’s more than a million times faster than the human mind can make a decision. So why is that a big deal? Because executing transactions of thousands of shares of stock in less than a blink of an eye lets stock traders screw investors out of their own money at unimaginable speeds to the tune of nine to eleven billion dollars a year.
It’s one thing to wonder how people will accept the reality of how Wall Street actually works. But what would happen if a really smart person inside that industry, someone always under pressure to produce more, what if that person just snapped the tether?
The reality is that stock exchanges, for years now, execute trades in less than a half a millionth of a second. How fast is that? It’s more than a million times faster than the human mind can make a decision. So why is that a big deal? Because executing transactions of thousands of shares of stock in less than a blink of an eye lets stock traders screw investors out of their own money at unimaginable speeds to the tune of nine to eleven billion dollars a year.
It’s one thing to wonder how people will accept the reality of how Wall Street actually works. But what would happen if a really smart person inside that industry, someone always under pressure to produce more, what if that person just snapped the tether?
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