Bonfire of the Vanities author in the Daily Beast on the demise of traders and the rise of quants, via the Facebook IPO:
“But it proved to be more than one unbelievably bollocksed-up IPO. May 17 was the day Wall Street got vaporized. After Facebook Day, all that “Wall Street” had been a metonymy for, the big money, the Big Picture of America’s economy, the excitement, the sense that this is where things are happening, was gone”
and John Coates’ work on the physiology of trading floors.