NEW YORK ( TheStreet) -- This starts as a review of the stunning book by Sal Arnuk and Joe Saluzzi, Broken Markets, available on Amazon. This book is a super study of the rise of high-frequency trading, those "black boxes" you hear so much about that helped to cause the flash crash in 2010 and continue to dominate much of the volume that you see trading in the open exchanges.The book does a tremendous job parsing the events that occurred in the last five years that allowed our equity markets to be overrun by computer programs, and why that "franken monster" is robbing you every time you decide to put in an order for any stock, particularly the largest cap, highest volume stocks traded on the major exchanges.
The High-Frequency Conspiracy
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