This week, our “Masters in Business” radio podcast features Brad Katsuyama of IEX. Katsuyama may be best known for his role as the lead character in Michael Lewis’s book, “Flash Boys: A Wall Street Revolt.”
In our podcast, Katsuyama describes how it became clear thatsomething had changed in the market structure, but no one really knew what it was. He explains how he and his team eventually unraveled how algorithm-driven high frequency trading worked.
We also chat about his appearance on “60 Minutes,” and his debate on CNBC with William O’Brien, former President of the BATS Global Markets stock exchange.
Hey, remember that discussion about how awesome the F-35 is? It’s update time!
Pay attention, CONservatives, particularly you government spending austerity types:
Some choice bits:
– The fuel tank “is at significant risk of catastrophic fire and explosion in combat”
– The helmet gizmo has “high false alarm rates and false target tracks.”
– Software bugs plague the plane’s ability to “find targets, detect and survive enemy defenses, deliver weapons accurately, and avoid fratricide.”
Gosh, that stuff sounds mildly relevant. Did I mention it might cost another $70 Billion just to get the POS to work?
But, you know, we can’t afford to fix bridges.
Next time some winger moron starts yapping about spending, ask him about our mighty grounded trapeze artists.
My only concern is how confidently Katsuyama says that they have set up IEX so that no one is gaming the system. As far as they KNOW, no one is gaming the system.
In principle, the High speed traders that are still playing there have some different system/ algo that is making money just trading a lot.
Otherwise another great interview. My only suggestion is that Barry does not need to tell us that each interviewee is a nice person.