- A Wall Street Revolt
- Narrated by: Dylan Baker
- Length: 10 hrs and 18 mins
- Unabridged Audiobook
- Release date: 03-31-14
- Language: English
- Publisher: Simon & Schuster Audio
Regular price: $20.99
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Michael Lewis, the best-selling author of Boomerang, The Big Short, The Blind Side, Moneyball, and many others, returns to the financial world to give listeners a ringside seat as the biggest news story in years prepares to hit Wall Street.
Customer ReviewsMost Helpful
By T DeMon Spencer on 07-14-15
Definitely A Worthwhile Learning Experience
I majored in business administration with finance as a sub major and thought I knew how Wall Street worked. Turns out I was just as ignorant as everyone else. This book takes technical boring issues and makes them easy to understand and compelling enough to keep your attention. It was well paced, kept the finicial jargon to a minimum, and still remained brutally honest throughout. This is a must read for anyone who wants to understand American finance in the 21st century and how it has changed in a way that screws individual investors 99% of the time.
10 of 10 people found this review helpful
By Neuron on 01-19-15
Colorful of technology at wall street
When I bought this book I expected an entertaining description of outlandish wall street traders "flashing" their wealth. While this is indeed one of the books ingredients I realized that I had completely misinterpreted the word "Flash". It refers not to flashing as in showing off, but to flash as in very fast.
The book describes how so called high frequency traders earn money by instantly responding to changes in demand of stocks. Those with sufficiently speedy computers and internet connections can make a profit by essentially jumping ahead in the que, buying a certain stock and then selling it again to the guy who actually wanted it, at a premium. I was surprised to learn that such trades actually accounted for a huge majority of the trades on US stock markets.
The book also have a hero called Brad Katsuyama, founder of the IEX stock exchange. Brad who appears to be a normal and humble, yet smart Canadian fellow noticed how the price of stocks increased whenever he placed an order. Following some detective work, Brad figured out how the high frequency traders profited by abusing the system and he set out to stop this by creating a new stock exchange, immune to the typical tricks employed by the high frequency traders.
The book was thus more limited in scope than I had originally thought. Yet it was both interesting and funny, just as I have come to expect from Michael Lewis. The extent of the measures taken by Wall Street people to improve the speed of their internet by even a few nanoseconds (like paying to have a computer moved within a server facility), was particularly entertaining. The reader will encounter a number of colorful characters and despite the rather technical nature of its subject, the book rarely gets boring or dry
15 of 16 people found this review helpful