Author: Michael Lewis
|via Barnes & Noble|
Flash Boys covers a lot of ground in the HFT world but primarily focuses on Brad Katsuyama and his firm, IEX. Brad is on a mission to right what he sees as a great wrong. In short, HFT makes the traders rich but screws the customers who, once again, are intentionally kept in the dark about Wall Street's inner workings. IEX is a new exchange intending to keep things fair.
In my experience, Michael Lewis is best at character sketches. The book flies when the focus is on the people and their relationships with each other. Brad is not exactly Robin Hood as he still wants to make money for himself. But the fact that he and his would-be merry men are willing to forego higher salaries with other firms in order to pursue a higher-minded ideal is endearing nonetheless. All of Lewis's business books examine the complicated relationship between morality and the market. At least in this case, it's pretty clear the protagonists are the good guys.
It's a muddier trudge when Lewis delves too deeply into the finance stuff. As with his other books, I can't claim to understand all of it but the people help to make it relatable.
Apparently, Netflix has a movie in the works.