Whoosh Goes the Market : Algorithms, Automation, and Alienation.

Format:

Book

Author/Creator:

Souleles, Daniel Scott.

Language:

English

Subjects (All):

Stockbrokers.

Stock exchanges--Social aspects--United States.

Stock exchanges.

Electronic trading of securities--Social aspects--United States.

Electronic trading of securities.

Algorithms--Social aspects.

Algorithms.

Alienation (Social psychology).

Physical Description:

1 online resource (236 pages)

Edition:

1st ed.

Place of Publication:

Chicago : University of Chicago Press, 2024.

Summary:

"Markets are messy, and no one knows this better than traders who work tirelessly to predict what they will do next. In Whoosh Goes the Market: Algorithms, Automation, and Alienation, Daniel Souleles takes us into the day-to-day experiences of a team at a large trading firm, revealing what it's actually like to make and lose money on contemporary capital markets. The team Souleles shadows has mostly moved out of the pits and work with automated, glitch-prone computer systems. They remember the days trading manually, and they are suspicious of algorithmically-driven machine-learning systems. Openly musing about their own potential extinction, they spend their time expressing fear and frustration in profanity-laced language. With Souleles as our guide, we learn about everything from betting strategies to inflated valuations, trading swings, and market manipulation. This crash course in contemporary finance vividly reveals the existential anxiety at the evolving frontlines of American capitalism"-- Provided by publisher.

"A vivid, fast-paced inside look at financial markets, the people who work on them, and how technology is changing their world (and ours). Markets are messy, and no one knows this better than traders who work tirelessly to predict what they will do next. In Whoosh Goes the Market, Daniel Scott Souleles takes us into the day-to-day experiences of a team at a large trading firm, revealing what it's actually like to make and lose money on contemporary capital markets. The team Souleles shadows have mostly moved out of the pits and now work with automated, glitch-prone computer systems. They remember the days of trading manually, and they are suspicious of algorithmically driven machine-learning systems. Openly musing about their own potential extinction, they spend their time expressing fear and frustration in profanity-laced language. With Souleles as our guide, we learn about everything from betting strategies to inflated valuations, trading swings, and market manipulation. This crash course in contemporary finance vividly reveals the existential anxiety at the evolving frontlines of American capitalism"-- Provided by publisher.

Contents:

Preface : five times a day?

Whooshing up

Everything is down again

The greatest trader in the world

On markets : rallies and flows

Eternal optimizers

A nice chianti for our trading partner, the target bomber

They don't tell you that there's no price

Why would you buy an electric car on jet ski Friday?

The economy will be open by Easter.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9780226833781

022683378X

OCLC:

1432604285