This audiobook is narrated by a digital voice.
Summary of Flash Boys by Michael Lewis
Flash Boys: A Wall Street Revolt" by Michael Lewis is a non-fiction book that exposes the dark side of high-frequency trading (HFT) and its impact on the stock market. The book tells the story of a group of traders and entrepreneurs who were determined to challenge the corrupt and unfair practices of HFT firms, which use high-speed computers and algorithms to front-run the trades of ordinary investors and make huge profits at their expense.
The book is divided into three parts. In the first part, "The Machine," Lewis introduces the reader to the world of high-frequency trading and the technology that makes it possible. He describes how the stock market has become a game of milliseconds, where speed is everything and the fastest traders win. He also introduces the main characters of the story, including Brad Katsuyama, a former trader at the Royal Bank of Canada (RBC), who becomes the leader of the group that challenges HFT.
In the second part, "The Salamander," Lewis tells the story of how Katsuyama and his team discovered that the stock market was rigged against them and other ordinary investors. They found that HFT firms were using a practice called "predatory latency arbitrage," which allowed them to buy and sell stocks ahead of other traders by exploiting the time delay between different stock exchanges. Katsuyama and his team were determined to find a way to level the playing field and expose the unfair practices of HFT.
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