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2,774,062 Views ⢠Nov 4, 2013 ⢠Click to toggle off description
Haim Bodek started his own high frequency trading in 2007 and built a from his point of view perfect and fast algorithm. One day it just stopped working. Profits disappeared en he went looking for the cause. He decided to go public with his search to display the rotten system.
Originally broadcasted by VPRO in 2013.
Š VPRO Backlight November 2013
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Credits:
Director: Marije Meerman
Research: Gerko Wessel
English, French and Spanish subtitles: Ericsson.
French and Spanish subtitles are co-funded by European Union.
Views : 2,774,062
Genre: News & Politics
Date of upload: Nov 4, 2013 ^^
Rating : 4.846 (993/24,865 LTDR)
RYD date created : 2022-04-09T17:56:36.381712Z
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YouTube Comments - 1,025 Comments
Top Comments of this video!! :3
"A lot of people copy me, sure, but thats ok, it moves the world forward"
287 |
This is an amazing documentary. It is a must watch for all financial professionals and those who are fascinated by financial wizardry.
284 |
I have a PhD and I understand all those PhDs that prefer to trade than to cure cancer. As a scientist you are always at the brink of starvation jumping from contract to contract and from country to country. The trading world seems to offer certain stability or at least lots of money to buy your stability.
47 |
Same old saying goes here: The less transparent the market and the more complicated the securities, the more money the seller is going to make on you.
89 |
I spent five years trying to figure out how to trade for a living. Eventually, I honed in on a hedged options-selling strategy that returned 20% every year for three years...then I burned out from the stress of worrying about the volatility that I'm convinced is the result of algorithmic trading--enough of the quants have the same ideas, so that intraday moves are exaggerated by them all piling onto the trend. This documentary, and all of the insiders who participated, really prove what I already knew (to some extent). I can say for certain that this is no conspiracy theory, because I spent enough time trading to know that the markets are, in some ways, rigged.
220 |
At ~34:15, it mentions the sheer amount of money that "evaporated" during the flash crash in 2010. Wealth does not evaporate. That wealth was transferred to the people shearing the sheep.
386 |
"90% of finance doesn't know how the stock market works"
73 |
Dated 2013 ... it would be great to have a "Where Are They Now ?" follow-on doc on these guys...
83 |
For those who want to dig further into what is now known as the "order type controversy", I have posted links to the major news articles and associated media on my web page. It has been a long slog since the news first hit in early 2012! Quick Update (4/2016): Bats/ Direct Edge settled the order type allegations with the SEC in Jan 2015. It was the largest fine against an exchange in US history.
539 |
This is why I enjoy YouTube. A video leads to another then another and then I am now watching this great documentary.
25 |
I started off with the impression of this being a very shallow and "hyped" sort of production. But then, about 15 minutes into the video, things really shifted. Very informative, concise and valuable material, thank you for making this publicly accessible!
- N
76 |
Extremely well-made documentary film about the ins and outs of a tiny piece of an irreducibly complex puzzle.
118 |
Pretty odd that after superstorm Sandy, the Fed Reserve bank of NY moved their trading desk literally right nextdoor to the CME servers in Aurora... Would love to see a full audit at transaction level detail...
30 |
Haimâs code failed. The instant before the deal, many clients were suddenly âteleportedâ in line before him. And were serviced before him. For 12 months, Haim searched for the error in his code. There was none.
During a social event, Haim learned the real reason: his order type was "wrong". First time Haim heard about âincorrect order typesâ. Apparently, the "right" order type buys you precedence in line! Give the "right" person / agency some extra money. It's an old trick. Like bribery.
144 |
An amazing documentary - it seems like tech is moving too fast for the rule makers.
79 |
This video is such a basis for personally handling YOUR income and wealth. I invest in ONLY 3 things. Silver/Gold, Real Estate, and my Business.
All things that I have direct control of
7 |
Makes me long for the good old days when pirates used swords and cannons, rather than algorithms.
119 |
VPRO, you do great work. I only wish you could do more of it.
13 |
The most important info is @ 48:30: That most traders live with fears. ... The stress is unbelieveable.
28 |
@vprodocumentary
4 years ago
NEWS NEWS NEWS! We have a vpro documentary, Telegram channel! Check it out for new uploads, spread the word and join! đ t.me/vpro_documentary
68 |