Typical liberal "professor". Dressed like a pile of feces, driving a junker, and is entitled enough to take up two parking spaces with said junker. All because he's pissed off that someone much smarter than him made a shit load of money by being smart.
Hmm to say wow I didn't know would be an understatement. procurement of knowledge sometimes creates an esteem on a larger more complicated issue that to me would mean i resolve to not resolve. Either way,
names change things and thresholds are crossed...in my mind....thresholds which where never meant to be embraced were reached breached and engrained into the minds of those who depend on financial security evenflow in a certain set of ways. Crypto mining? The cure ?
Another way to manage the microseconds in more stable way...So that the reserves of stock price braces itself, for latency and other manipulations of market variants that are dishonest. The M.A.N.I.A.c? Amazing through and through.
One thing to me is puzzling. The stock market doesn't create value, I'd doesn't produce anything, just trades, how can it have positive cashflow, where does that money come from to enable price growth?
The group responsible for the crash is: Goldman Sachs.
Evidence: 1300 Federal Blvd. Carteret, NJ is the building next to Nasdaq servers which belongs to Goldman Sachs.
Why would they crash it?
It was a sophisticated trading strategy:
knowing that they are market movers and now with their advantage of having information before anyone else, they can theoretically and technically place trades so fast down that the other investment companies would think there’s a crash causing lesser sophisticated algos to do weird things such as sell at one cent, while being delayed in the data when the market moves up. The bottom line, Goldman Sachs just sold almost if not exactly at the peaks and bought at the bottom (a hundredth of one cent).
Keep in mind, that it’s 2010, 2 years after the 2008 market meltdown. QE had just begun by the Fed in 2009 to save the global financial system... although the market regained most of its losses through 2009-2010, there was real uncertainty that QE wouldn’t work. So, it would make sense that hedge funds would head-fake one direction but then go the other. Investment company like Waddell & Reed has sophisticated algos that prevented them to lose so much wealth in 5 minutes, that’s why they were glad to hand over their data to figure out who bought their contracts only to be sold with fury.
Goldman Sachs made billions in 5 minutes as their algos were set for a head fake, just sick.
The SEC cannot by law disclose the culprit as Goldman Sachs and they are the market maker and dealer for US Government treasures. Laws harboring criminals, change it!
Unless you buy enough to cover transaction fees and can stay in the market for a decade at least you are better off buying an index fund. The stock market is for suckers and big trading firms, Its like trying to beat Bobby Fischer at chess.
“7.6B is a big number of transactions” hardly. It’s four order of magnitude smaller than numerous other Internet-scale systems. Market transactions should be forced to be linearizable. These boobs have made ordering compromises to suit themselves and guess what, they’ve exploited it. There is no excuse.
Reminds me of a bump test in PID control. With the time scale conundrum, the limiting factor is material; with microwaves, even air density-or time of day due to thermodynamics. I could imagine running a consistent phase wave with no info just to lower resistance for the info carrying phase; design wave interference to deliver at max speeds.
It keeps growing at an alarming rate. This is published 2012, and now then? :p
The central banksters has bought up the stockmarket and DJIA is today sept 24 2018 at 26750.
And there is very few normal people engaged in the stockmarket. Its Agenda 2030, take away peoples money and introduce serfdom. That will make population (particulary white population) go down dramatically. Hence Europes nativity numbers is like 1/4 of what it was in 1950.
These people are all amazingly brilliant and also very ugly psychopathic (to one degree or another) human beings. What fun. It was only a matter of time with our species that the difference between the super rich and the poor would be a universe apart and the super rich would grind the poor into meal to feed the fish in their aquariums.
Ivan Drago when you buy a stock, your money goes to who you paid for it. You “lose” money on it when you sell it for less than you paid, because no one wants to pay you what you paid for it. It’s like trading baseball cards, they all start at a fixed price but then some players are good and people will pay for their cards. Others are not so popular and no one wants to trade for them.
So the machines' algorithms were proving each other to find their buy and sell limits?! What a brilliant engineer that wrote the script that found the trigger point at which got to push the others' algorithms to execute sell orders on the way down even at a loss!
Can you do a reportage about the flash crash on the GBPUSD that occured the 7th of October 2016 at 00h07 ? In 2 minutes, -6% on the pound... wasn't this programmed to get the stops of early buyers ? Markets are all rigged ! Mother fuckers land.
Here's a tip for you: in September, if all goes well, we will publish a 2018 documentary from Marije Meerman about the 10 years after the crash of Lehman Brothers: have we learned from our previous mistakes? Could we be on the verge of a crash again?
Could you imagine if you by some freak luck placed a trade during the flash crash and your order was filled for pennys on the dollar? Or if you sold your position before the news broke, because it said the news lagged behind what the markets were doing, and got pennies on the dollar for your trade only to find out that the stock return to normal shortly after? Must have been a hell of a day.
Listening to Flash Boys, cannot believe the differences in technology microsecond speeds in the Exchanges, and in the hft firms. A bit like running a donkey and a sloth against a Dragster in the same race. Then there was GS before Vlad got hold of it. Talk about smoke and mirrors on a turtle. The guy at 17 minutes is talking about Ram and those ideas have been superceded by CPU code. Either way its a loaded game - the same players always win and are protected by the SEC / we are stonewalled by them. Feb 6th 2018 - 7 years later, there are plenty of HF Trading jobs advertised in small and large firms.
48:03 - Stocks in the US just in the last 10 years have had two distinct declines of more than 50%. So, to make 5%, you are risking half your money. That to me is an awful trade.
You don't scoot when you see the crash, YOU BUY THE CRASH. Well, Warren Buffet did, and look where he is now.
Jamie Pearson go back to sleep, if you have a mortgage with the bank, if you have a superannuation fund with a investment firm that’s your savings that you’ve accrued by applying your trade and your skill.
Then these unethical criminals
Play roulette with that money, and you say If you can’t afford to lose then don’t risk it?
The sheer idiocy in this video can be summed up as front-running, bank insider fraud, smart algorithms bankrupting smaller algorithms, put SEC agents on your pay roll, and you can get away with anything when you put a stick carving man in charge of observing the stock market.
what i don't get is why the SEC isn't allowed to disclose to the public all the information
i mean this is a crisis that affects the whole nation, as a democracy pledged to serve the people shouldn't the US gov be as transparent about this as possible?
wtf, the spikes in price aren't hard to explain at all. Market makers and hft's pulled their quotes leaving a huge b/a spread. If the bid is at $40 and the ask at $60, then every time someone places a market buy order the price spikes and every time someone places a sell market order, it crashes. The fact that their expert didn't even know that makes me question the legitimacy of the documentary (or it's "expert").
And the large crashes are stop orders, not hft's selling 3000 contracts at a time. Why on earth would anybody buy 3000 contracts over time and sell them at market when there is no liquidity? That literally makes no sense. They would lose on more than 99% of their trades.
Its funny he couldn't explain the bid higher than the ask part. there are two or more possible scenarios here. Bbox couldve executed the price at the ask and sold it to a limit order,the higher bid, resulting in massive profit (of course depending on the size). It cant be a delay because it could never reach from 40 to 60 unless its really volatile. the spread is just huge. the other scenario im thinking about is someone put a market order and the algos decided to fuck him over 20 points spread lol. Would love to discuss other possibilities
46:30 When I heard that they use evolving algorithms to let the computers learn how to trade better that blow my mind. Maschine learning techniques made such great leaps in the last years it is clear to me that they use them for finance as well.
Lol at the end these guys admitted that they don't own any stocks... if they don't even trade stocks then they are in no position to give advice in how to invest because they don't know how to. But that part on metamorphic machine learning HFT algorithms was really fascinating!
A lot of government regulation has by nature a "conflict of interest". The only way to get people who really know the industry well enough to regulate it is by hiring those who have worked in it their entire lives. Judges are old lawyers, secretaries of treasury are ex-Goldman Sachs executives, and SEC agents are like you mentioned ex Lehman Brothers. It stinks but it is everywhere and it makes sense to a level of why it is but I agree, maybe it should change, these are the real conversations that need to be on the news.
I think it was a global test efforts, for research purposes. Was there a major news/ event on that day or week? If not it was a test to see possibilities and capabilities. CNBC knows whats up, something don't make sense.
You have to read between the lies smoke and mirrors. A small group of people got extremely rich sorry added more wealth to there cash hoppers during this crash. Find out who made money during this period you will have the culprits.
I think one of the big mystery is how all those algo from different firms in play during the crash decided they reached equilibrium at the bottom and decided to rally, surprisingly to the roughly same level as before the crash happenned.
+Kecap Manis No mystery.. had sloppy algos in 2008.. dumbass moves like pull out 500 contract at last market depth position ,, so it looks like a serious buy.. that strategy is easily picked up now,, my algo does it , an the computer laughs.. i dont have time to even look at it..Only diff is that i start a bank that is transparent, an believe me u cant have a bank without algo.\
The market wipes other institutions out .. thats why it went down that far, its no mystery when its War. Much improved on bullets , dont u think?
+Kecap Manis Not a mystery. Algorithms may be different, differently designed and executed, but the goal behind all is the same - save assets in the event of a crash. That is convergence and that's why they all seemed to rally. The next big thing will probably be an algorithm that handles a crash in such a way as to make profit (short sales?). The race is probably on right now, just no apparent winner just yet.
Perhaps there was one dominant algo that caused the "turning point" and other algos thought the price has reached bottom and started to rally. Chaos Theory? Understandably the rebound is quite as fierce as the drop. I like to think of it as a stretched rubber band.
oh.. its jus the isolated glitch reporting, of falls ,, what about the N Korea atomic test in 2007 market fell 1000 points in 30min, turned around an went straight back thru within 1hr
realize 70% trading is insider that moves the market according to FED RES deflation modelling. Since they removed the identity of each block purchase institution in 02 , auto trading has been increasing .. u can see the settling time from the overshoots..
naturally .. correct. esp that i am reading Alans BS biography on the crash .. How this glitch occurred ..no idea .. i recall the video, as i own IP on trading algorithms.. writing a real time NYSE feed clipper.. i dont think this video was commented on.. the interviewer is not female
I know and understand that the markets are manipulated...I believe if you don't know that going in you didn't do much homework so shame on you and if you got in knowing that the markets are manipulated and you still got in...SMH.......But I know what I got into I try to feed off that and gather information to help me gain from it. Just once I would like to see a positive Wall Street youtube video about Wall Street. The idea that everyone on Wall Street are cruel and low life people is no different than saying a certain race of people are ALL cruel and low life.
+Rick Williams You get a trading job in Wall Street by showing that you are only interested in making as much money as possible, in the shortest amount of time. The firms weed out anybody who might have any kind of ethical conscience about ripping off clients or trading on insider information because that is seen as a weakness. Therefore it is going to be tough to show anybody in a positive light, given the type of personality that is successful in that line of work.
This is such a lie, someone is controlling the market. Yes a small group of people, most of the time they work together but sometimes they have infighting but at he end of the day they are all skimming money from everyone else so they kiss and make up.
+HIM Solar Gate That is a complete fallacy and one that needs to be killed. The U.S. market is where the world goes to find liquidity. There is no such thing as any player or "Black Box" that controls how that market moves.
Basically there are two kinds of firms, those that have some serious insight into the marketplace - i.e.;
1. Firms that have and continue to develop a particularly good model or set of models, that work well against market conditions this is where there is quite often actual market value or at least no serious harm caused in the marketplace - if someone makes a computer algorithms that are sufficiently reliable enough to trade autonomously and be consistently profitable,
2. Firms that have taken some advantage of the particular architecture or regulatory rule-set - such that they can make some marginal profit typically this is done because of very fast trading capacity at the sub 1second time-frame, (and often down near the millisecond level) however these systems are different because they are not "smart" so much as clever - taking advantage of other customers in an almost parasitic way, Haim Bodek makes an excellent case that the market is toxified by these kinds of firms, which are typified by calling them "front-runners" - if you can get your order for 100 shares of ABC, ahead of someone buying 10,000 shares of ABC, it's almost certain that the price for ABC will be going up as the market tries to meet the demand for ABC presented by the big order.
There are 3 major pitfalls with reaching consensus around the outcome of an event.
These fully specified, manipulation resistant, and publicly verifiable events form a necessary foundation for sound prediction markets. Without this foundation, prediction markets are subject to confusion, manipulation, and abuse. Though sometimes tricky, many prediction events exist that satisfy all of the criteria listed above. As the world moves forward into the realm of decentralized prediction markets, it will be important to keep in mind the pitfalls associated with many naive prediction events.
Sia , by Nebulous Inc., is a blockchain-based decentralized cloud storage platform.
Capital Markets Blockchains Are Finally Getting Go-Live Dates.
Assembled in New York this week, a handful were even confident enough to give firm timetables for production. For those tired of blue-sky talk, it was refreshing to hear large-scale financial infrastructure projects discussed openly and frankly, in clear terms of where they are and when we can expect to see things going live.
Underscoring the seriousness of the undertaking, ASX recently produced an 87-page progress report. Roll-out is targeted for late 2020 or early 2021.
In the weeds.
The enormity of such a project may not be obvious to those unfamiliar with the creaky plumbing of the capital markets.
At the completion of phase one, DTCC will have nodes set up internally for every firm that it knows will run one, plus some general nodes that will take care of supporting the transactions and processing for the firms that do not wish to support a node of their own.
For this project, DTCC has taken a multi-vendor approach. Ethereum-inspired startup Axoni is providing the technology, with IBM helping to manage the project, and R3 providing best practice guidance on areas like selecting the right data models.
Luxembourg is the largest fund management hub outside of the U.S. The jurisdiction holds many trillions of dollars worth of assets under management.
The KPMG-led project includes banks like BNP Paribas, Credit Agricole and others, as well as over 400 asset managers. The technology used is ethereum-based Quorum, the popular open-source project run by JP Morgan.