Michael Lewis tells the explosive story of high-frequency trading (HFT) and the state of the U.S. stock market by focusing on a few key characters and their stories. Lewis discovers in this book that HFT is one of the ways by which Wall Street cheats investors. The first half of the book gives the background behind HFT, of how it operates and is encouraged by the big banks. Next the book describes how Brad Katsuyama starts up a new stock exchange called Investor's Exchange (IEX) to stop the practice of HFT. IEX is not manipulated by HFTs and give their clients real time quotes. Lewis manages to make a complicated subject very readable. Read it to understand about the inner workings of Wall Street and its astonishing stories.
