The Wolf Hunters of Wall Street An Adaptation From ‘Flash Boys: A Wall Street Revolt,’ by Michael Lewis
The simplest way to design a stock exchange that could not be gamed was to hire the very people best able to game it and encourage them to take their best shots. Katsuyama didn’t know any other national puzzle champions, but Puz did. The only problem was that none of them had ever worked inside a stock exchange. “The Puzzle Masters needed a guide,” Katsuyama says. Enter Constantine Sokoloff, who had helped build Nasdaq’s matching engine — the computer that matched buyers and sellers. Sokoloff was Russian, born and raised in a city on the Volga River. He had an explanation for why so many of his countrymen wound up in high-frequency trading. The old Soviet educational system channeled people into math and science. And the Soviet-controlled economy was horrible and complicated but riddled with loopholes, an environment that left those who mastered it well prepared for Wall Street in the early 21st century. “We had this system for 70 years,” Sokoloff says. “The more you cultivate a class of people who know how to work around the system, the more people you will have who know how to do it well.” full: http://www.nytimes.com/2014/04/06/magazine/flash-boys-michael-lewis.html _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
