Flash Boys

  • by Michael Lewis
  • Narrated by Dylan Baker
  • 10 hrs and 18 mins
  • Unabridged Audiobook

Publisher's Summary

From the number-one New York Times best-selling author of Liar's Poker and "one of the country's most popular business journalists" (The New York Times) Michael Lewis, comes an engaging new book about Wall Street.
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.

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Customer Reviews

Most Helpful

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
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- Neuron

Making the system deliver on its promise.

There was a temptation to write my review before I had finished reading. To get there first before other reviewers. This race to be first, however, sometimes requires a pause, a reflection about what speed, transparency, fairness all actually require from individuals and companies. The world of finance is often opaque. Between executing a trade with your broker and another individual accepting that trade through their broker there is a ghost world operating on mico-slices of a second. It is a world filled with algorithms that are all focused on a zero-sum game where the individual seems to lose every single trade. It is a wild west were everyone is getting the shaft, except for the large banks and the high-speed traders.

No one is better at exploring the technical world of money and finance on Wall Street (and in Sports) than Michael Lewis. His talent is most obvious in his ability to spot inconsistencies, absurdities, and flaws in a system and explain them using great characters and narratives that the characters tell themselves. There is no Moneyball without Billy Beane, there is no Blind Side without Leigh Tuohy and Michael Oher, and there is no Liar's Poker without John Meriwether and John Gutfreund. There would also be no Flash Boys without Sergey Aleynikov, Brad Katsuyama and Ronan Ryan.

These characters MAKE this book great. Lewis, however, is what makes this story vibrantly great. He is a master of the New New Journalism narrative, a master of timing, and a master of getting to the story before the other suckers do. And... he appears to do it not just because he is fantastically good at it, but from all appearances because, like Brad Katsuyama, Lewis actually gives a micro-F about making the system deliver on its promise
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- Darwin8u

Book Details

  • Release Date: 03-31-2014
  • Publisher: Simon & Schuster Audio