Down the rabbit hole…
Enjoy your stay.
Expect this to get plenty of attention.
“HFTs know the price of everything and the value of nothing.”
“But we see several reasons to worry that ‘markets themselves’ are becoming a bigger source of market risk than fundamentals.”
But times have changed.
“The room fell silent, the enormity of this unexpected crisis sinking in.”
“Poor liquidity conditions and massive block trading. Never has it been more obvious that relying solely on electronic trading has fundamentally altered how business is cleared.”
“The jury is out as to whether these players are good or bad for the market.”