Traders Magazine notes that it’s now a year since Michael Lewis published “Flash Boys”.
After all, it’s not every day that a book launches attorney general investigations, inspires an exchange president to meltdown on cable news and spur Americans to buy a book that features an obscure trader from the Royal Bank of Canada to figure out why the price of his trades were increasing the instant he placed his order.
I read Flash Boys soon after it came out and thought it was excellent. Now, Traders Magazine points out that they talked to IEX before Lewis brought out his book.
The Vanity Fair article by Michael Lewis is worth a read.
Michael Lewis’s books seem to get better and better. Whilst Liar’s Poker is often cited as a classic, I think The Big Short and now Flash Boys are more interesting. Flash Boys is particularly impressive given that the topic of high-frequency trading is under so much scrutiny, yet Lewis brings to light some of the practices going on in the industry that are not widely known. On top of that, he has a gift for making heroes out of otherwise unremarkable characters.
Another great book by Michael Lewis. Although it might be a stretch for anyone who doesn’t already have a passing knowledge of the financial products involved, it’s a brilliant read. He manages to turn some pretty outrageous characters into unlikely heroes, and shines on a light on the murky dealings that led to the credit crunch of 2008.