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Dark Pools: The Rise Of Artificially Intelligent Trading Machines And The Looming Threat To Wall Street (2012)

by Scott Patterson(Favorite Author)

4.05 of 5 Votes: 5

ISBN

0307887170 (ISBN13: 9780307887177)

languge

English

genre

History & Biography

publisher

Crown Publishing Group

review 1: The author covers the material so well that even for those who aren't interested in the development of electronic trading will find the story an exciting read. He puts the context around the development and has written the definitive history on the subject.I'm a big fan of "The Singularity is Near" by Ray Kurzweil and I thought a lot of his telling of the story was influenced by Ray Kurzweil's thinking on AI and such. Near the very end of the book the author brings up Kurzweil and his thinking. He really didn't fit into the story's arc, but I took it as an ode to Kurzweil.I warn you. The book will give you a queasy feeling in your stomach because he documents so thoroughly how the HST (high speed traders) are systematically taking money away from us because there is not a ... morelevel playing field for small players like us who invest through our mutual funds or individual stocks and ETFs.
review 2: When I explained to my wife that high frequency traders were using artificial intelligence to place millions of stock trades in milliseconds, holding stocks on average for no longer than 22 seconds and effectively gaming stock markets around the world, her first reaction was "I had no idea." Her second reaction was "So what chance does the average person buying a stock have?" Computers have made the stock markets unrecognizable to us today. This book is a pretty good primer on how the changes took place and who changed the playing field, like it or not. less

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