Goldman Asks: ‘Will The Machines Amplify the Next Downturn?’
Here's the thing about folks who harbor delusions of grandeur: they have a demonstrable (and highly amusing) tendency to couch everything in terms of things they said at one time or another. As the President would put it, "I'm consulting with myself, because I've said a lot things."
I speak from extensive personal experience when it comes to nurturing an overriding sense of self-importance. In fact, I'd consider myself something of an authority on the matter, and I can tell you definitively tha
Really, really good essay. I remember watching spellbound, the first famous flash-crash and equally dramatic rebound. I was not invested and thus just amused. It will be interesting to watch as AI advances perhaps with more ‘brains’ what with unlocking (?) the animal fear and greed. It seems odd to me that it’s even allowed. Would it not be more fair that transmission of an order was across the board equal? And that orders can’t reverse in nanosec but calibrated in humanly understood increments?
Thanks, H! A complex issue, and much appreciative of your time to frame the narrative so us Joe E*Trades can (kind of, sort of) see how it all fits together. Reading you every day is worth the time and definitely helps in upping my trading acumen.