Fact: U.S. stock market is rigged by a millisecond. Suckers.

Discussion in 'The Howard Stern Show' started by jersery, Apr 5, 2014.

  1. jersery

    jersery Well-Known Member Banned User

    Reputations:
    1,264
    Joined:
    Jan 15, 2014
    Messages:
    773
    Likes Received:
    488
    60 Minutes segment on: Is the U.S. stock market rigged?

    There's obviously so much insider information going on, but how Wall Street illegally uses computer technology to their advantage just doesn't seem right. Buyer beware.


    *High-frequency traders, big Wall Street firms and stock exchanges have spent billions to gain an advantage of a millisecond for themselves and their customers, just to get a peek at stock market prices and orders a flash before everyone else, along with the opportunity to act on it.

    *Spread Networks spent $300 million just to shave three milliseconds off the fastest route and were leasing access to high-frequency traders at $10 million a pop.

    *The insiders are able to move faster than you. They're able to see your order and play it against other orders in ways that you don't understand. They're able to front run your order.

    [video=youtube;BweADB78tBY]https://www.youtube.com/watch?v=BweADB78tBY[/video]
     
  2. yaddc

    yaddc Well-Known Member

    Reputations:
    103,320
    Joined:
    Jan 13, 2014
    Messages:
    23,027
    Likes Received:
    20,568
    Its all fixed. lol I keep mine under the matress fuck wall st
     
  3. PelicanWig

    PelicanWig Beautiful Soup

    Reputations:
    54,302
    Joined:
    May 24, 2013
    Messages:
    7,208
    Likes Received:
    8,674
    Howard will have that computer program installed immediately.
     
  4. greyt

    greyt Well-Known Member

    Reputations:
    11,008
    Joined:
    Nov 22, 2012
    Messages:
    3,051
    Likes Received:
    2,576
    I don't see how you can do anything in three milliseconds but good for them. :dontknow:
     
  5. RumBalls

    RumBalls The original RumBalls, est. Jan 16, 2012

    Reputations:
    10,136
    Joined:
    Jan 16, 2012
    Messages:
    2,622
    Likes Received:
    2,086
    I trade stocks every day...If you know what you're doing there is plenty of money to be made
     
  6. Shortwave98

    Shortwave98 A-Number 1 Banned User

    Reputations:
    178,992
    Joined:
    Nov 9, 2013
    Messages:
    31,231
    Likes Received:
    31,971
    To computers that's plenty of time.
     
  7. Shortwave98

    Shortwave98 A-Number 1 Banned User

    Reputations:
    178,992
    Joined:
    Nov 9, 2013
    Messages:
    31,231
    Likes Received:
    31,971
    Electricity flows down a wire at 186000 miles per second (the speed of light). These fuckers pay big money to get their computers closer to the main set up than their competitors, and inches count. They're insane. They need a quarter penny tax on each one of those transactions.
     
  8. Phan Neepack

    Phan Neepack Well-Known Member

    Reputations:
    21,210
    Joined:
    Aug 24, 2013
    Messages:
    10,107
    Likes Received:
    3,873
    My morning deuce came out at the speed of light this morning... Darn those Nachos
     
  9. Lance Murdock

    Lance Murdock Well-Known Member

    Reputations:
    2,647
    Joined:
    Mar 25, 2013
    Messages:
    603
    Likes Received:
    650
    exactly. you program your computer what to do ahead of time based upon variables and when that variable happens those milliseconds matter.
     
  10. NotMyBro

    NotMyBro VIP Extreme Gold

    Reputations:
    68,396
    Joined:
    Nov 7, 2012
    Messages:
    6,790
    Likes Received:
    4,975
    Yep, it's all rigged. Michael Lewis explains how:

    Video here:
    http://www.zerohedge.com/news/2014-...american-its-not-even-capitalism-its-cheating

     
  11. Hamptons Bowler

    Hamptons Bowler Member

    Reputations:
    9
    Joined:
    Apr 9, 2012
    Messages:
    309
    Likes Received:
    4
    Didn't Bane invent this in Batman?
     
  12. Beth143nacho

    Beth143nacho Well-Known Member VIP

    Reputations:
    64,303
    Joined:
    Jan 15, 2012
    Messages:
    19,810
    Likes Received:
    16,485
    Isn't it obvious that the stock market is rigged? The fact that shorting stocks is allowed tells of the intentions of big traders. That's far worse than being that guy at the craps table playing the don't pass line. Everyone hates that guy and they hate him more when he wins.
     
  13. newcastlefan

    newcastlefan גֵּרְשֹׁם VIP

    Reputations:
    134,964
    Joined:
    Dec 31, 2011
    Messages:
    57,576
    Likes Received:
    16,888
    uh that's really old info.

    a millisecond is a lifetime in programmed trading. it was nanoseconds around 1999. i think currently its in the area of picoseconds, and the latest systems with optical switching are working at femtoseconds. i think the next jump to attoseconds will be when quantum computing hardware goes commercial in the fall or winter..
     
  14. skylarbrie

    skylarbrie VIP Extreme Gold

    Reputations:
    32,777
    Joined:
    Apr 26, 2012
    Messages:
    10,391
    Likes Received:
    6,720
    please elaborate, some have lost several million dollars
     
  15. Goods

    Goods Well-Known Member

    Reputations:
    8,131
    Joined:
    Jan 15, 2012
    Messages:
    3,523
    Likes Received:
    1,693
    One word: algorithms.
     
  16. Murcielago

    Murcielago Smoke me a kipper, I'll be back for breakfast

    Reputations:
    111,727
    Joined:
    Dec 13, 2011
    Messages:
    10,249
    Likes Received:
    14,714
    I'd have been a real sucker if I had kept my money in "savings", being in the markets was the only way to ride this long wave of bullshit from the Federal Reserve.
     
  17. Shortwave98

    Shortwave98 A-Number 1 Banned User

    Reputations:
    178,992
    Joined:
    Nov 9, 2013
    Messages:
    31,231
    Likes Received:
    31,971
    They call them algorithms because Al Gore invented the internet!
     
  18. FlaFlaFlunkie

    FlaFlaFlunkie Fabulous!

    Reputations:
    1,189
    Joined:
    Dec 19, 2011
    Messages:
    42,557
    Likes Received:
    14
    That's not the point.
     
  19. Wesmantooth

    Wesmantooth VIP Extreme Gold

    Reputations:
    57,548
    Joined:
    Dec 14, 2011
    Messages:
    12,610
    Likes Received:
    10,693
    no shit wiggy called it years before Lewis

    [​IMG]
     
  20. Anyonenow

    Anyonenow Well-Known Member

    Reputations:
    119,578
    Joined:
    Dec 14, 2011
    Messages:
    7,481
    Likes Received:
    5,597
    Those that want an "advantage" have been able to do so for quite some time...

    1867: Following the invention of the telegraph, the first ticker tape was developed, making it easy to communicate information about transactions occurring on the exchange floor with brokers. Most brokers who traded at the New York Stock Exchange kept an office nearby to ensure they were getting a steady supply of tape and the most current information.

    [​IMG]