Lewis's argument (and that of his book's protagonist, Brad Katsuyama, CEO of IEX, an alternative exchange) is that high-frequency trading rigs the markets, and does so in a way that's unfair to smaller investors.
The conventional counter to that criticism is that the world of Wall Street trading has never been a fair place for mom-and-pop investors. It's a shark-eat-shark kinda place, and anyone who expects something different has been consuming illicit substances at quite a clip.
Lewis's argument (and that of his book's protagonist, Brad Katsuyama, CEO of IEX, an alternative exchange) is that high-frequency trading rigs the markets, and does so in a way that's unfair to smaller investors.
The conventional counter to that criticism is that the world of Wall Street trading has never been a fair place for mom-and-pop investors. It's a shark-eat-shark kinda place, and anyone who expects something different has been consuming illicit substances at quite a clip.
- See more at: http://www.thefiscaltimes.com/Columns/2014/04/04/Let-s-Do-Something-Maybe-About-High-Frequency-Trading#sthash.FhN5zZgI.dpuf