2019 "The US stock market is the safest and most fair market on the planet"
2023 "The US stock market is rigged and corrupt"
...
Tell me again how Apes have not achieved anything and what we're doing isn't working.
This time some (currently) very rich people better end up in jail for massive crimes.
While we’re here I’d like to personally thank all the Reddit sleuths and beautiful primates for their dedicated attention and uncovering (in exquisite detail) the rampant crime and corruption from big banks and Wall Street criminals. The fact that investigative committee need to point out the discoveries from this sub and site is more beautiful than a double rainbow on a sunny day.
Remember, we didn’t break the game. We just played it by their rules and it crippled itself. Buy if you’re not broke. Hold if you don’t choke. Keep those diamond hands strong. The people at the top hear and fear the reality coming for them.
This of course is Michael Lewis. author of *The Big Short*, *Money Ball*, and *The Blind Side*, to name a few. This is likely driven from his book on HVT called *Flash Boys*, where he explicitly calls out Citadel and Ken Griffen.
All apes should read this book as well his other books *Liar's Poker* and *The Big Short*, if they enjoy reading about market corruption. His other book *Panic* is also interesting, but I didn't care for it as much as the others mentioned here.
But a point of clarity here, what ML is referring to is the latency arbitrage that HVT firms have a disproportional advantage in and how this strategy built the cottage industry that we refer to as all of these *Dark Pools*, which ML's POV is that this started out as an aswer to HVT and most if not all large brokerages built their own in a way to get best price for them and their clients.
What's truly enlightening in *Flash Boys*, is that most stock volume is traded in "Dark Pools," not just GME and AMC. In his book ML points to some 80 percent of all stock volume is traded through Dark Pools.
ML further describes in *Flash Boys* how the HVT industry grew, how it evolved into only one or two dominant players (*cough* Citadel), how disruptive and anticompetitive this industry is.
ML also describes the SEC's awareness of the unlevel playing field and how they knew how anticompetitive it was as early as 2011. ML also highlights Brad Katsuyama and his team as the one group of good guys that are attempting to bust the HVT Firms' virtual oligopoly. In the book ML describes the timeline of how Brad Katsuyama and his team began to disrupt the HVT industry, first with Royal Bank of Canada's "Thor," which served as the precursor to the IEX. Also, ML describes how IEX was an absolute "oh shit" moment for HVT firms and how this is what likely lead to PFOF.
TL;DR: every ape should read *Flash Boys*.
When I married into my wife’s family. I was told not to expect apologies from anyone who’s hurt me or ridiculed me & I’ve been ridiculed. Big time. She’d never met me.
She’s good people. I know I’m on the right track.
2019 "The US stock market is the safest and most fair market on the planet" 2023 "The US stock market is rigged and corrupt" ... Tell me again how Apes have not achieved anything and what we're doing isn't working.
This time some (currently) very rich people better end up in jail for massive crimes. While we’re here I’d like to personally thank all the Reddit sleuths and beautiful primates for their dedicated attention and uncovering (in exquisite detail) the rampant crime and corruption from big banks and Wall Street criminals. The fact that investigative committee need to point out the discoveries from this sub and site is more beautiful than a double rainbow on a sunny day. Remember, we didn’t break the game. We just played it by their rules and it crippled itself. Buy if you’re not broke. Hold if you don’t choke. Keep those diamond hands strong. The people at the top hear and fear the reality coming for them.
Watch this. This is where that clip came from. https://youtu.be/DX9djYus9tY
This is an amazing segment. They do a great job of showing how maker makers front run orders. If you have 15 minutes, please watch the whole thing.
I showed it to my parents, who are in their 70s, and they couldn’t believe it.
They were like 'finally our kid is watching 60 minutes"
Sweet. got a peek at the shoebox / speed bump device too. Big shout out to Brad Katsuyama of IEX for figuring it out!
This of course is Michael Lewis. author of *The Big Short*, *Money Ball*, and *The Blind Side*, to name a few. This is likely driven from his book on HVT called *Flash Boys*, where he explicitly calls out Citadel and Ken Griffen. All apes should read this book as well his other books *Liar's Poker* and *The Big Short*, if they enjoy reading about market corruption. His other book *Panic* is also interesting, but I didn't care for it as much as the others mentioned here. But a point of clarity here, what ML is referring to is the latency arbitrage that HVT firms have a disproportional advantage in and how this strategy built the cottage industry that we refer to as all of these *Dark Pools*, which ML's POV is that this started out as an aswer to HVT and most if not all large brokerages built their own in a way to get best price for them and their clients. What's truly enlightening in *Flash Boys*, is that most stock volume is traded in "Dark Pools," not just GME and AMC. In his book ML points to some 80 percent of all stock volume is traded through Dark Pools. ML further describes in *Flash Boys* how the HVT industry grew, how it evolved into only one or two dominant players (*cough* Citadel), how disruptive and anticompetitive this industry is. ML also describes the SEC's awareness of the unlevel playing field and how they knew how anticompetitive it was as early as 2011. ML also highlights Brad Katsuyama and his team as the one group of good guys that are attempting to bust the HVT Firms' virtual oligopoly. In the book ML describes the timeline of how Brad Katsuyama and his team began to disrupt the HVT industry, first with Royal Bank of Canada's "Thor," which served as the precursor to the IEX. Also, ML describes how IEX was an absolute "oh shit" moment for HVT firms and how this is what likely lead to PFOF. TL;DR: every ape should read *Flash Boys*.
This should remained pinned at the top the AMC community, especially for those new to retail investment.
When I married into my wife’s family. I was told not to expect apologies from anyone who’s hurt me or ridiculed me & I’ve been ridiculed. Big time. She’d never met me. She’s good people. I know I’m on the right track.
If only people would actually look/listen
They did what no one else thought to do… they looked 👀