First of all, there is a lot of commentary about how exactly the HFTs and algorithms are killing the marketplaces and scare investors away from the market. Today Andrew Ross Sorkin experienced a thoughtful article in the brand-new York Times. Sorkin has turned into a lot more well-balanced reporter, I think, after he wrote the book “Too Big to Fail”. It’s almost as though all that point spent interviewing people for the book has improved his knowledge of how things really work.
Anyway, this Knight trading error is pretty frightening but I don’t think it’s a reason to move from computer trading. I’m sure when people crashed their cars early this hundred years, some needed to go back to the horse and buggy. Or think about automated traffic lights? I have no information but I wouldn’t be surprised if some of them malfunctioned in early stages causing automobile accidents.
This may have prompted someone to call for heading back to people directing traffic, or just banning cars outright. I don’t know if it happened, but you can imagine many situations where technology caused problems. That is no reason to cool off from it. We have to make it better just.
- How should i apply for a Business License
- Do you will need a lawyer to begin a business
- Deliver it before 5pm on the final day
- 9M-MRH 28415 July 1998
As someone said, you can’t place the genie back in the bottle. As far as market-making is concerned, I am … Read more