In 2014, Michael Lewis's 'Flash Boys' revealed that HFT firms spend billions on microsecond speed advantages to front-run ordinary investors' orders. Brad Katsuyama demonstrated that prices moved against investors before their orders could execute. Charlie Munger called HFT 'legalized front-running.' The 2010 Flash Crash saw the Dow drop 1,000 points in minutes. The DOJ, FBI, SEC, and CFTC all launched investigations into HFT practices.
High-frequency traders systematically front-run retail investors using speed advantages -- 'The stock market is rigged'
“The United States stock market, the most iconic market in global capitalism, is rigged. High-frequency traders use speed advantages to systematically steal from ordinary investors.”
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What they said vs. what the evidence shows
⏳ The Vindication Timeline
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The Claim Is Made
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