September 21st 2012

Dark Pools.High speed traders, AI bandits, and the threat to the global financial system. Scott Patterson.

Cover of "The Quants: How a New Breed of ...

Cover via Amazon

Dark Pools.High speed traders, AI bandits, and the threat to the global financial system. Scott Patterson.2012. ISBN 9780307887177.  Patterson wrote The Quants which I enjoyed so I was looking forward to Dark Pools.  It does not disappoint. He has the gift of rendering what could be numbingly arcane facts and numbers into a very compelling book that reads like a novel. I read it in one sitting – it is that good.  His focus on the people involved is appreciated by the reader.  That all said, this is not a comforting book. The system is rigged against us, the little investor, over the short and long haul. You do find out how these wizards make the money on the backs of others.  You end up with second thoughts as to why anyone still puts money into stocks.   A must read for anyone who interested in how their money works…for others through the use of very advanced computers and machine learning

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