Useful overview of recent problems from the New York Times.
8 January 2013
Tom Wolfe on how the quants neutered the Masters of the Universe
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.
23 October 2012
No direct evidence that computer-based high frequency trading has increased volatility in financial markets, says Beddington report
“The Future of Computer Trading in Financial Markets – An International Perspective” – a report two years in the making by the Government’s Chief Scientific Adviser Sir John Beddington and published today (here is the BIS press release and the report is here) concludes that:
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