On top of an already dangerously influential and morally suspect financial minefield is now being added the unthinking power of the machine. Full Story »
Posted by Subramanya Sastry - via New York Times (Most Emailed), New York Times (Opinion), AllTop
I did not know about this kind of trading before, but Wilmott does a decent job of explaining it and an excellent job analogizing a disaster outcome. Two pieces are missing: expert/academic opinion on the topic, and a hypothetical scenario where high-frequency algorithmic trading could wreak havoc.
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