Scott Patterson
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June 2012
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https://www.goodreads.com/scott_patterson
More books by Scott Patterson…
“The Algo Wars were leaving a path of destruction in their wake. “HFT algos reduce the value of resting orders and increase the value of how fast orders can be placed and cancelled,” wrote Nanex researcher Eric Hunsader. “This results in the illusion of liquidity. We can’t understand why this is allowed to continue, because at the core, it is pure manipulation.”
― Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market
― Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market
“Insiders say the pressure to succeed at Renaissance can be brutal. One mathematician at the fund may have succumbed to the pressure on March 1, 2006. That’s when Alexander Astashkevich, a thirty-seven-year-old MIT graduate who worked at Renaissance, shot and killed his estranged wife in the small town of Port Jefferson, Long Island, before turning the shotgun on himself. He left behind a six-year-old son named Arthur.”
― The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It
― The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It
“The morning of the offering, NYSE officials on the floor passed out silver bells emblazoned with NYX on the handle. Traders were told to ring them with abandon at the open. While they were billed as a shiny memento, their true purpose—to drown out the expected chorus of boos and catcalls from disaffected specialists—spoke volumes about the turmoil behind the scenes.”
― Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market
― Dark Pools: The Rise of the Machine Traders and the Rigging of the U.S. Stock Market
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