Follow Up to HFT Pirates and Their Academic Friends

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Last week we posted a comment titled ”The HFT Pirates and Their Academic Friends.” The piece was a rebuttal to a Bloomberg View article written by Professor Bernard Donefer. We spoke with Professor Donefer via email exchange after this post. He took exception to being likened to Fred Mishkin – i.e. academia for hire. The exact line we wrote was “As expected, this is the typical HFT defense piece (why does Fred Mishkin come to mind every time we read an academic piece like this). Professor Donefer made it clear that he was asked to write this editorial BY BLOOMBERG, and that he IS NOT in the employ of any HFT firm, and that he remains independent. He feels that associating him with Fred Mishkin is inappropriate. We agree that the comment likening his editorial to Mishkin was strong, and unprofessional. We regret making that reference.