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MICHAEL LEWIS says:
“The principals of Themis Trading, have done more than anyone to explain and publicize the predation in the new stock market. They deserve more lines in this book than they receive but have written their own book on the subject, Broken Markets.”
“When the last history of high-frequency trading is written, Hunsader and Themis Trading deserve a prominent place in it.”
-MICHAEL LEWIS, Flash Boys
BOSTON GLOBE: "Did you read something for Flash Boys you would recommend?"
LEWIS: "Scott Patterson’s Dark Pools, which overlaps with my own book some. What he does really well is tell the early history of automated electronic trading. I’d also recommend Broken Markets and the 1923 novel Reminiscences of a Stock Operator by Edwin Lefèvre."
-The Boston Globe, "Bibliophiles: Best-selling author Michael Lewis", March 21, 2015
29
Apr, 2009
When do bear markets end?
I have heard many talking heads on TV proclaim that the market finally can go up now. The dow now is at 8150. These same talking heads were also despondent in early March, as they proclaimed that oil would hit $25, and that fair value on the S&P500 was more like 9 times earnings of $50 (or S&P500 =450).
Some say that bear markets end when the market shrugs off bad news (-6.1% GDP for one) and goes up. I say that given what the market has shown us in the last two years: that the market is a merciless heartbreaker, and only cares for us as much as the government does. I would hate to think it is trying to eek higher, and lull everyone back in the water, before it heads down to 750-800 again. I would hate to think that that is exactly what is going on, but I wouldn’t be surprised. No, not at all.