“After watching Apple’s (AAPL) share price get whipsawed for years by market behavior seemingly disconnected from the company’s underlying value, you could almost hear the jaws drop on Investor Village AAPL Sanity Board last week when Charlie Gasparino used the New York Post’s op-ed page to come to the defense of high-frequency trading,” Philip Elmer-DeWitt reports for Fortune.
“In a piece titled ‘Michael Lewis’ high-frequency bull,’ Fox Business News’ combative senior correspondent slammed Lewis’ new book Flash Boys: A Wall Street Revolt as ‘utterly disingenuous’ and an ‘easy lefty’ take on advances in computer technology that Gasparino maintains have made the markets more efficient and lowered the cost of trading,” P.E.D. reports. “If there is any ‘ripoff,’ he writes, it ‘is of the rich, by the rich.'”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Edward W.” for the heads up.]
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The market is rigged: Here’s how not to be a victim – March 31, 2014