Crapshoot investing : how tech savvy traders and clueless regulators turned the stock market into a casino

Format:

Book

Author/Creator:

McTague, Jim, Author.

Language:

English

Subjects (All):

Investment analysis--Law and legislation--United States.

Investment analysis.

Stock exchanges--Law and legislation--United States.

Stock exchanges.

Electronic trading of securities--United States.

Electronic trading of securities.

Stocks--United States.

Stocks.

Capital market.

Physical Description:

1 online resource (vi, 247 p.) : ill.

Edition:

1st edition

Place of Publication:

[Place of publication not identified] FT Press 2011

Language Note:

English

System Details:

text file

Summary:

In just the past few years, the equity markets have been transformed into a high-speed casino that’s a pure crapshoot: a white-knuckle rollercoaster ride that has left individual investors legitimately terrified of equities. The Flash Crash of May 6, 2010–when the DJIA plummeted 734 points in 17 minutes, and dozens of top companies traded as low as zero–was just a harbinger of disasters to come. In Crap Shoot Investing , Barron’s Washington Editor Jim McTague reveals the twin causes of this massive transformation: high-frequency traders using mathematical hocus pocus, and blundering regulators whose attempts to promote long-term investment have massively backfired. McTague takes you through the Flash Crash moment by moment, revealing what happened and how it happened. Next, he burrows “under the volcano” to uncover the titanic, uncontrolled forces now at work in equity markets, showing investors exactly what they’re jumping into when they buy and sell stock today. You’ll learn how new exchanges, desperate for cash, are attracting high-frequency traders at everyone else’s expense… how “dark pools” of hidden trades are tilting the playing field…how even small investors are promoting dangerous volatility. McTague explains why regulators continue to ignore the big picture as the markets accelerate towards chaos. Last but not least, he presents a rational strategy for investors who need to get ahead in markets that have become riskier than most casinos. "A valuable read for anyone considering investing in equity markets." Reprinted with permission from CHOICE http://www.cro2.org, copyright by the American Library Association.

Contents:

Cover

Contents

Acknowledgments

About the Author

Introduction

Chapter 1: Strange Encounters

Chapter 2: Not Your Grandma's Market

Chapter 3: Screaming Headlines

Chapter 4: Accidental Senator

Chapter 5: Flash Crash

Chapter 6: Shock and Awe

Chapter 7: Poster Child

Chapter 8: Accident Investigation

Chapter 9: The Trouble with Mary-and Gary

Chapter 10: The Road to Ruin

Chapter 11: Busted!

Chapter 12: Precursor

Chapter 13: Birth of High-Frequency Trading

Chapter 14: Evil Geniuses?

Chapter 15: Dirty Rotten Scoundrels

Chapter 16: Dark Pools

Chapter 17: Volatility Villains

Chapter 18: The Investigation

Chapter 19: The Vigilantes

Chapter 20: The Tide Turns

Chapter 21: Letter Bomb

Chapter 22: Scapegoat

Chapter 23: The Real Culprits

Chapter 24: Investing in a Shark-Infested Market

Index.

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

Description based on publisher supplied metadata and other sources.

ISBN:

9786613012159

9781283012157

1283012154

9780132609715

0132609711

OCLC:

1027158490