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Flash Crash 2010 - VPRO documentary - 2011

1982 ratings | 352267 views
Money & Speed: Inside the Black Box is a thriller based on actual events that takes you to the heart of our automated world. Based on interviews with those directly involved and data visualizations up to the millisecond, it reconstructs the flash crash of May 6th 2010: the fastest and deepest U.S. stock market plunge ever. Money & Speed: Inside the Black Box is developed by filmmaker Marije Meerman in close collaboration with design studio Catalogtree. This explorative documentary is a marriage of strong storytelling and meticulous visual analysis. This film is also available in English as an iPad-app in the Apple app store as the world's first Touch Doc. TO THE APPSTORE: https://itunes.apple.com/us/app/money-speed-inside-black-box/id424796908?mt=8 Originally broadcasted by VPRO in 2011. © VPRO Backlight January 2011 On VPRO broadcast you will find nonfiction videos with English subtitles, French subtitles and Spanish subtitles, such as documentaries, short interviews and documentary series. VPRO Documentary publishes one new subtitled documentary about current affairs, finance, sustainability, climate change or politics every week. We research subjects like politics, world economy, society and science with experts and try to grasp the essence of prominent trends and developments. Subscribe to our channel for great, subtitled, recent documentaries. Visit additional youtube channels bij VPRO broadcast: VPRO Broadcast, all international VPRO programs: https://www.youtube.com/VPRObroadcast VPRO DOK, German only documentaries: https://www.youtube.com/channel/UCBi0VEPANmiT5zOoGvCi8Sg VPRO Metropolis, remarkable stories from all over the world: https://www.youtube.com/user/VPROmetropolis VPRO World Stories, the travel series of VPRO: https://www.youtube.com/VPROworldstories VPRO Extra, additional footage and one off's: https://www.youtube.com/channel/UCTLrhK07g6LP-JtT0VVE56A www.VPRObroadcast.com Credits: Director Marije Meerman Design Visualisations: Catalogtree Research: Gerko Wessel Photography: Maarten Kramer Sound: Eric Look Editing: Rinze Schuurman Music: Joris van Gunsven Programmer: Systemantics, Noodlewerk Financial Data: Share Company, Nanex, Tickdata Re-recording mixer: Jaim Sahuleka Color Grading: Jeff Grosveld Producer: Mariska Schneider VPRO Backlight Project Management: Gert Jan Kuiper, Gerard Meijer Commissioning Editors: Henneke Hagen, Jos de Putter English, French and Spanish subtitles: Ericsson. French and Spanish subtitles are co-funded by European Union.
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Text Comments (207)
fredocorleone (17 days ago)
The SEC is like Sergeant Schultz from Hogans Heroes.
T F (18 days ago)
Can you do a reportage about the flash crash on the GBPUSD that occured the 7th of October 2016 at 00h07 ? In 2 minutes, -6% on the pound... wasn't this programmed to get the stops of early buyers ? Markets are all rigged ! Mother fuckers land.
vpro documentary (17 days ago)
Hi! Here's a tip for you: in September, if all goes well, we will publish a 2018 documentary from Marije Meerman about the 10 years after the crash of Lehman Brothers: have we learned from our previous mistakes? Could we be on the verge of a crash again?
Scott Black Cycles (1 month ago)
Really enjoyed the documentary but the interspersed screaming commentary is annoying beyond belief.
Peter Bradshaw (1 month ago)
Larry Harris weote a nice short paper on this for the CFA.
Danimal Wombat (2 months ago)
who is that maniac announcer/commentator guy reacting to the crash, it's played throughout the documentary?
Umberto Fournier (2 months ago)
a great breakdown
Parrot Raiser (2 months ago)
George Dyson is Freeman Dyson's son, (and the spitting image of his father).
rambow70 (4 months ago)
Could you imagine if you by some freak luck placed a trade during the flash crash and your order was filled for pennys on the dollar? Or if you sold your position before the news broke, because it said the news lagged behind what the markets were doing, and got pennies on the dollar for your trade only to find out that the stock return to normal shortly after? Must have been a hell of a day.
Kenny the Clown (4 months ago)
Good stuff
vpro documentary (4 months ago)
Thank you! You might also like this one: https://www.youtube.com/watch?v=ed2FWNWwE3I
CoelhoCoin Tech (4 months ago)
Algorithms that evolve into better algorithms
CoelhoCoin Tech (4 months ago)
The algos went crazy, that’s what happens when everybody is using the same algo formulas
oracleofottawa (5 months ago)
Paul Wilmott knows everything about markets and yet is too gutless to own a stock with his own money....why do people believe anything quants say or do??
Bohdan Kozak (5 months ago)
can imagine how much day traders made/lost money during the flash crash.. while buying on recovery they could make money, which will allow them not to work 10-20 years in matter of seconds..
Ian Lacy (6 months ago)
How drunk is this guy at 38.00?
O C (6 months ago)
Listening to Flash Boys, cannot believe the differences in technology microsecond speeds in the Exchanges, and in the hft firms. A bit like running a donkey and a sloth against a Dragster in the same race. Then there was GS before Vlad got hold of it. Talk about smoke and mirrors on a turtle. The guy at 17 minutes is talking about Ram and those ideas have been superceded by CPU code. Either way its a loaded game - the same players always win and are protected by the SEC / we are stonewalled by them. Feb 6th 2018 - 7 years later, there are plenty of HF Trading jobs advertised in small and large firms.
Srinath Kadiam (7 months ago)
48:03 - Stocks in the US just in the last 10 years have had two distinct declines of more than 50%. So, to make 5%, you are risking half your money. That to me is an awful trade. You don't scoot when you see the crash, YOU BUY THE CRASH. Well, Warren Buffet did, and look where he is now.
Jamie Pearson (7 months ago)
If you can't afford to lose, don't put it at risk
Dean Konstantian (6 months ago)
Jamie Pearson go back to sleep, if you have a mortgage with the bank, if you have a superannuation fund with a investment firm that’s your savings that you’ve accrued by applying your trade and your skill. Then these unethical criminals Play roulette with that money, and you say If you can’t afford to lose then don’t risk it?
Farmer John (8 months ago)
The sheer idiocy in this video can be summed up as front-running, bank insider fraud, smart algorithms bankrupting smaller algorithms, put SEC agents on your pay roll, and you can get away with anything when you put a stick carving man in charge of observing the stock market.
171TITO (8 months ago)
@4:28 that's a really sharp knife
a64750 (9 months ago)
1 hour of explanation. One Algorithm was better than all other Algorithm's on that day.
Yash (1 year ago)
Try cryptos.. 20-40% swings in a day are totally normal there.
Ct House Ninja (1 year ago)
Well said will pass this on
Chanwu Oh (1 year ago)
what i don't get is why the SEC isn't allowed to disclose to the public all the information i mean this is a crisis that affects the whole nation, as a democracy pledged to serve the people shouldn't the US gov be as transparent about this as possible?
Paul Turner (9 months ago)
if you don't know you are very naive, it fucking obvious
Bill Hampton (1 year ago)
Why are you reading my comment when you know you should be paying attention to the video ?
Zion Darden (1 year ago)
What is the name of the software being used at 7:00
Lincoln C Mitchell (1 year ago)
good video
Wiktor (1 year ago)
Good documentary.
manish sharma (1 year ago)
vpro u r doing a awesome work. i really appreciate your work. Hope govt do something for such gamble a kind of cheating from investors.
vpro documentary (1 year ago)
Thank you for your message.
Greiguci Wootchie (1 year ago)
I wish there was more amazing clips like this on YouTube. Love them
John Monrow (1 year ago)
wtf, the spikes in price aren't hard to explain at all. Market makers and hft's pulled their quotes leaving a huge b/a spread. If the bid is at $40 and the ask at $60, then every time someone places a market buy order the price spikes and every time someone places a sell market order, it crashes. The fact that their expert didn't even know that makes me question the legitimacy of the documentary (or it's "expert"). And the large crashes are stop orders, not hft's selling 3000 contracts at a time. Why on earth would anybody buy 3000 contracts over time and sell them at market when there is no liquidity? That literally makes no sense. They would lose on more than 99% of their trades.
nalind13 (1 year ago)
Awesome work vpro :)
vpro documentary (1 year ago)
Thank you so much! We really appreciate your feedback.
Az it Soundz (1 year ago)
Its funny he couldn't explain the bid higher than the ask part. there are two or more possible scenarios here. Bbox couldve executed the price at the ask and sold it to a limit order,the higher bid, resulting in massive profit (of course depending on the size). It cant be a delay because it could never reach from 40 to 60 unless its really volatile. the spread is just huge. the other scenario im thinking about is someone put a market order and the algos decided to fuck him over 20 points spread lol. Would love to discuss other possibilities
Christoph G. (1 year ago)
46:30 When I heard that they use evolving algorithms to let the computers learn how to trade better that blow my mind. Maschine learning techniques made such great leaps in the last years it is clear to me that they use them for finance as well.
Grand Ami (7 months ago)
Christoph G. .
jpcarigma (2 years ago)
Were people able to buy at those low prices?
Ken Lam (1 year ago)
jpcarigma no it was less than one second
Joe Black (1 year ago)
There would have been some really good deals that day.
DavidAKZ (2 years ago)
Who is the person @ 3:31 thanks ?
Pravin Kumar (1 year ago)
DavidAKZ that's George Dyson https://en.wikipedia.org/wiki/George_Dyson_%28science_historian%29?wprov=sfla1
antonio bortoni (2 years ago)
Invest in stocks or in properties?? or in solar energy, or in business directly...
Adil Mohammed (1 year ago)
possibly missing a period between "all" and "diversity". Did you mean this? "invest in all. diversity is key"
Financial Foundation (1 year ago)
invest in all diversity is key
Jennie Jenkins (2 years ago)
*_If user friendly, risk free and free auto trading app is what you want right now, than this == > _**_https://t.co/en6WYiVZWq_**_ has to be the answer for you because it has everything that you can ever dream for._*
tai hung Au (2 years ago)
Lol at the end these guys admitted that they don't own any stocks... if they don't even trade stocks then they are in no position to give advice in how to invest because they don't know how to. But that part on metamorphic machine learning HFT algorithms was really fascinating!
Mike black (2 years ago)
Quants are so smart, i admire them
Jeff Sol (2 years ago)
that dyson guy is talking about black boxes being scary when he helped create the most destructive device in the world
Chuck Earnest (2 years ago)
If so then I would say he probably knows a bit about them. Haven't watched the vid yet.
roxi26293 (2 years ago)
When an SEC agent is an ex trader from the Lehman Brothers... no wonder they want to strictly follow the no disclosure laws.
rambow70 (4 months ago)
A lot of government regulation has by nature a "conflict of interest". The only way to get people who really know the industry well enough to regulate it is by hiring those who have worked in it their entire lives. Judges are old lawyers, secretaries of treasury are ex-Goldman Sachs executives, and SEC agents are like you mentioned ex Lehman Brothers. It stinks but it is everywhere and it makes sense to a level of why it is but I agree, maybe it should change, these are the real conversations that need to be on the news.
CaseyC104 (2 years ago)
"You could go out for a cup of coffee, come back and find you lost a billion dollars. That would ruin your day." That quote is the best thing I've heard in a long time.
TEZ (8 months ago)
That would be the most expensive coffee in history.
kenektik (2 years ago)
21:22 You can tell this guy is really good at his job.
Grand Ami (7 months ago)
kenektik J
dabaddestbob (2 years ago)
Anyone know the app they use on their ipads/show on the screens w the red graphs?
Heinrich Berndovsky (1 year ago)
Is there any chance of you bringing that app to Android?
dabaddestbob (2 years ago)
Thank you!!!!!
vpro documentary (2 years ago)
Hi all, it's the Money & Speed app, an interactive documentary: https://itunes.apple.com/nl/app/money-speed-inside-black-box/id411884445?mt=8
prowarslamable (2 years ago)
+dabaddestbob I also need to know.
Heinrich Berndovsky (2 years ago)
+dabaddestbob I'd love to know that too.
Myrl Lewis (2 years ago)
@22:10 This guy threw the major shade ever... He basically saying It is one thing to be stupid but it is a sad thing to be stupid and not know it... lol
Donovan Miller (2 years ago)
I think it was a global test efforts, for research purposes. Was there a major news/ event on that day or week? If not it was a test to see possibilities and capabilities. CNBC knows whats up, something don't make sense.
Justlook Uncut (2 years ago)
You have to read between the lies smoke and mirrors. A small group of people got extremely rich sorry added more wealth to there cash hoppers during this crash. Find out who made money during this period you will have the culprits.
Charles Forsyth (2 years ago)
Erin Burnett <3
Kecap Manis (2 years ago)
I think one of the big mystery is how all those algo from different firms in play during the crash decided they reached equilibrium at the bottom and decided to rally, surprisingly to the roughly same level as before the crash happenned.
Rus Talisin (2 years ago)
+Kecap Manis No mystery.. had sloppy algos in 2008.. dumbass moves like pull out 500 contract at last market depth position ,, so it looks like a serious buy.. that strategy is easily picked up now,, my algo does it , an the computer laughs.. i dont have time to even look at it..Only diff is that i start a bank that is transparent, an believe me u cant have a bank without algo.\ The market wipes other institutions out .. thats why it went down that far, its no mystery when its War. Much improved on bullets , dont u think?
Ilia Gilmijarow (2 years ago)
+Kecap Manis Not a mystery. Algorithms may be different, differently designed and executed, but the goal behind all is the same - save assets in the event of a crash. That is convergence and that's why they all seemed to rally. The next big thing will probably be an algorithm that handles a crash in such a way as to make profit (short sales?). The race is probably on right now, just no apparent winner just yet.
Kecap Manis (2 years ago)
Perhaps there was one dominant algo that caused the "turning point" and other algos thought the price has reached bottom and started to rally. Chaos Theory? Understandably the rebound is quite as fierce as the drop. I like to think of it as a stretched rubber band.
Surya Bahubalendruni (2 years ago)
+Kecap Manis imo it's the weirdest part of it all. it's not like all of the algo's these firms run are going to have code consistent with one another to handle this precise situation. very bizarre
CRYPTOLAWYER (2 years ago)
check out "wall street code" where haim bodek exposes a special type stock purchase order that allows the buyer to get ahead of the line and buy in first; wall street owns this country doubt it not
ZetaOfS (2 years ago)
That fucking SEC weasel.
Westcreek87 (1 year ago)
It is very interesting that we live in an age where corporate shills like SEC-guy can immediately be disproved by the data, but very strange that they continue to get away with it, despite this.
010##101 .#111011 (3 years ago)
What a great documentary. Dank je wel vpro.
djbanizza (3 years ago)
how about some guy knew how the algorithms work and built an attack to exploit their weaknesses? the market went down and up again , but the owners of the money were not the same ...
Aron Greenspan (3 years ago)
The interviewer is an idiot and has no understanding of the concepts at work. Her questions are so unrealistic.
Rus Talisin (2 years ago)
oh.. its jus the isolated glitch reporting, of falls ,, what about the N Korea atomic test in 2007 market fell 1000 points in 30min, turned around an went straight back thru within 1hr realize 70% trading is insider that moves the market according to FED RES deflation modelling. Since they removed the identity of each block purchase institution in 02 , auto trading has been increasing .. u can see the settling time from the overshoots..
Rus Talisin (2 years ago)
naturally .. correct. esp that i am reading Alans BS biography on the crash .. How this glitch occurred ..no idea .. i recall the video, as i own IP on trading algorithms.. writing a real time NYSE feed clipper.. i dont think this video was commented on.. the interviewer is not female 
Aron Greenspan (2 years ago)
I think you mean Alan
Rus Talisin (2 years ago)
+Aron Greenspan was an idiot puppet there was noone to be trusted to fill his position sending billions into bankers pockets.. thanx sukers
Ralph Walters (3 years ago)
A good piece of advice, listen well... 48:03
Harold Patterson (3 years ago)
Rick Williams (3 years ago)
I know and understand that the markets are manipulated...I believe if you don't know that going in you didn't do much homework so shame on you and if you got in knowing that the markets are manipulated and you still got in...SMH.......But I know what I got into I try to feed off that and gather information to help me gain from it. Just once I would like to see a positive Wall Street youtube video about Wall Street. The idea that everyone on Wall Street are  cruel and low life people is no different than saying a certain race of people are ALL cruel and low life.
Steve Veasey (3 years ago)
+Rick Williams You get a trading job in Wall Street by showing that you are only interested in making as much money as possible, in the shortest amount of time. The firms weed out anybody who might have any kind of ethical conscience about ripping off clients or trading on insider information because that is seen as a weakness. Therefore it is going to be tough to show anybody in a positive light, given the type of personality that is successful in that line of work.
ExSan PlusPlus (3 years ago)
this is the time of the year, yeap !
Roberto Santander (3 years ago)
this is the time of the year
HIM Solar Gate (3 years ago)
This is such a lie, someone is controlling the market. Yes a small group of people, most of the time they work together but sometimes they have infighting but at he end of the day they are all skimming money from everyone else so they kiss and make up.
Supernova (1 year ago)
The guy responsible was caught and went to jail for it.
Zach Hodgson (2 years ago)
+HIM Solar Gate That is a complete fallacy and one that needs to be killed. The U.S. market is where the world goes to find liquidity. There is no such thing as any player or "Black Box" that controls how that market moves.
aubsdaddy (3 years ago)
Yes. The Jews!
Nonja Business (3 years ago)
This is scary on so many levels...
Feras Al Hati (2 years ago)
watchthis12day (3 years ago)
Would HFT effect the forex market?
proadmin1 (2 years ago)
Basically there are two kinds of firms, those that have some serious insight into the marketplace - i.e.; 1. Firms that have and continue to develop a particularly good model or set of models, that work well against market conditions this is where there is quite often actual market value or at least no serious harm caused in the marketplace - if someone makes a computer algorithms that are sufficiently reliable enough to trade autonomously and be consistently profitable, 2. Firms that have taken some advantage of the particular architecture or regulatory rule-set - such that they can make some marginal profit typically this is done because of very fast trading capacity at the sub 1second time-frame, (and often down near the millisecond level) however these systems are different because they are not "smart" so much as clever - taking advantage of other customers in an almost parasitic way, Haim Bodek makes an excellent case that the market is toxified by these kinds of firms, which are typified by calling them "front-runners" - if you can get your order for 100 shares of ABC, ahead of someone buying 10,000 shares of ABC, it's almost certain that the price for ABC will be going up as the market tries to meet the demand for ABC presented by the big order.
Blogaman Endomo (2 years ago)
+watchthis12day hm i dont know how hft firms make money could someone explain pls.
proadmin1 (3 years ago)
+watchthis12day Yes it would.
White Stag (3 years ago)
Amazing how the "regulator" lol, was the only one who missed it, says it all really .....
Philip Chen (3 years ago)
What really stuns me is when Paul Wilmott said at the end of the film....
Bram Stolk (10 months ago)
Indeed. Also what the quant said is surprising. Long term those +5% years add up, and more than make up for the rare -50% years. Someone so smart should know better.
Taylor Fischer (3 years ago)
Look at that crappy parking job at 31:39
Tre Moo (23 days ago)
Toyota Sienna knows no boundaries
Parrot Raiser (2 months ago)
not only taking up 2 slots, but facing in the wrong direction.
ed blair (5 months ago)
The smoking gun
yo yi (1 year ago)
must be my mum driving...
whitesky18 (3 years ago)
Such a well done program - I had to subscribe!
Rich Senyor (3 years ago)
Rich ass professor double parking a van.... Priceless
ed blair (5 months ago)
That old piece of shift Toyota?
トラックリスト (3 years ago)
Anyone rich doesn't drive a chrysler minivan..
Nolan McDeezy (3 years ago)
had to throw ass in there
Quang Le (3 years ago)
I was trading when the flash crash took place. words cannot describe how flashly it was
zdrux (3 years ago)
There has always been tools and ways of doing things faster, this is just an extension and an evolution of that. Compared to the old 1920's model of calling your broker over the phone and waiting 20min for a fill, now anybody at home can trade stocks with 1sec execution time, and everybody sees it as a good thing. Now the execution is much faster, and all of a sudden everybody is up in arms about the end of the world. What should be the perfect execution time then? Is there a magical number at which we say "Ok, nobody buy/sell stocks quicker than x msec !!" This is similar to the whole "The car killed the horse industry" rubbish.
binslashshell (2 years ago)
+jamal ahmed if your pension manager is day trading you're fucked anyhow.
zdrux (2 years ago)
+jamal ahmed You think your pension manager invests on 1 sec tick charts? You can't be serious?
Robert Elliot (2 years ago)
+jamal ahmed Millions flow from Main Street to Wall Street every single day because of that speed advantage. They are sucking the country dry.
Awesome show, really enjoyed it
Blake Pickering (4 years ago)
Startling documentary. Please keep these coming, you may well be documenting the end of life as we know it. 
Mitch Williams (4 years ago)
"making money by not doing any work?" What a flippant,stupid statement. All kinds of people work to earn money and then put in the markets. Thats why they go up,for the most part. And you're happy when it goes down? What a jerk.[47:50]
scottab140 (3 years ago)
Yes, they're envious and jealous of not being able to think and be successful in the markets. It's <their> money being loss in the markets so they are just upset about it.
Mitch Williams (4 years ago)
Price quoted does not necessarily mean last filled,does it?[25:43]it's just a quote,right?[25:58]
algerhistogram (4 years ago)
31:38 worst parking job ever
Tre Moo (23 days ago)
Haha, the shitbox's engine probably died and he luckily glided it into a parking lot.
omegapointil (4 years ago)
Nothing to do with the merit of the underlying.  No different than your 16 year old with his video game.  Then the possibility for legislation has been captured due to that careers are made by keeping it viable.  We look into the abyss and see ourselves.  All in the interest of avoiding real work and real sweat equity.
Michael Hays (4 years ago)
Why not say peoples names u cunts fucking FCC wankers prob USA Govt caused it
Michael Hays (4 years ago)
its fucking second NOT fucking Secent u fucking ignorant yanks
Michael Hays (4 years ago)
FCC Take it in te ass !
fahrenheit451 (4 years ago)
This is a brilliant documentary, I love the visual style and the balanced selection of speakers...
TENNSUMITSUMA (4 years ago)
7:56 'Steve jobs didn't die....' Hmm....
Grand Ami (7 months ago)
Nolan McDeezy (3 years ago)
its a conspiracy jk
John Donohue (4 years ago)
Nice work. 
Mrslykid1992 (4 years ago)
Sounds like traders found a glitch in the system? 
charles keeton (4 years ago)
Um..the glitch is by design..the 'Smart' money moves the 'Dumb' money!...
Tayo39 (4 years ago)
Speed Kills Al Davis
Peter Bradshaw (3 years ago)
It could also get you from London to New York in three plus hours in Concorde. I miss Concorde.
Joshua Douglas (4 years ago)
the flash crash was caused by high frequency trading firms
Kyle R (4 years ago)
Does this effect commodities as well?
SCHRODINGER’S CAT (2 years ago)
+Kyle R the market is one entity, if DOW moves, so does the Nikkei, if the Nikkei moves so does USDJPY, if USDJPY moves so does CADJPY, if CADJPY moves WTI Crude will move, if WTI moves, this may alter economist outlook of the future which will change the opinions of investors. It's all inter-related
charles keeton (4 years ago)
Absolutely!..all the same 'Players' run it all!..
thefowlyetti2 (4 years ago)
31:40 terrible parking :(
C.R.E.A.M. (4 years ago)
Imagine how rich you would be if you could have entered long at the bottom of the crash haha
Robert Jensen (4 years ago)
i dunno...these guys seem like arsonists to me. so when they ask for more gasoline, let's offer them matches to go with it!
Milton Waddams (4 years ago)
SEC is backed by Goldman, they call the shots - they have the ultimate say. Once you buy the regulators, the rest is easy.
ed blair (5 months ago)
Milton Waddams that are the regulators. No need to buy them
Paul nodalo (4 years ago)
I love how Goldman Sach siphon off the american workers money every millisecond and the american public do nothing.
Max DiMacino (2 months ago)
Goldmans is the only reason the lazy bums get their pensions.
O C (6 months ago)
I don't love it - but it is a fact that they are so complacent, it is almost karma. Almost. That is greed and power without representation, a very old pattern.
TheAverageJoeee (4 years ago)
the mysterious "major investment bank" is goldman sachs for those who are wondering
vpro documentary (6 months ago)
We didn't say that.
Adam F (4 years ago)
cool share. 
human417 (4 years ago)
is the data center analyst high?
DrCruel (4 years ago)
Basically the practice of wholesale robbery has been automated.
matchedimpedance (4 years ago)
I don't feel like this video brought me "inside" any black box. It's nothing I didn't already know. Title was misleading. So thumbs down.
Zes (4 years ago)
Erik Collins (4 years ago)
31:45 - KC parking
Miles Disney (4 years ago)
What was that address? 600 Commercial Drive in someplace new jersey?
d (4 years ago)
Rishi Narang seems like the only person they've interviewed who's knowledgeable enough to speak intelligently about HFT. Wilmott, after all, is a mathematician, not a practitioner. 
shadow3brigade3SBX3 (4 years ago)
39:40 the deepest meaning of notime time

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