Summary: From the number-one New York Times best-selling author of Liar’s Poker and “one of the country’s most popular business journalists” (The New York Times) Michael Lewis, comes an engaging new book about Wall Street.
Michael Lewis, the best-selling author of Boomerang, The Big Short, The Blind Side, Moneyball, and many others, returns to the financial world to give listeners a ringside seat as the biggest news story in years prepares to hit Wall Street…Read more.
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Michael Lewis: Flash Boys Audio Book Summary
Flash Boys is a book by American writer of nonfiction and economic journalism Michael Lewis, which deals primarily with the stock market. Talk about what are known as high frequency traders and the effect they have on the stock market.
The author aims to explain how the stock market became a complex system of injustice, greed and corruption.
The first part of the book is about the background and functioning of the financial world.
The second part presents Brad Katsuyama, an executive of Royal Bank of Canada as the person who seeks to launch the creation of a new stock exchange with a fair system.
It all started when Brad, having worked on Wall Street, returned to Canada and became a broker of great deals of money brokering on a daily basis.
He began to notice that every time he tried to buy and sell stocks, things did not work out as he expected, the market reacted in a way that always made him lose money, as if he were always one step ahead in any action he did.
Brad suspected that there was something strange about it, and he started to research on his own, which was not easy because he lacked knowledge of technology, finally discovered that Wall Street possessed a technology for a few privileged that consisted of what is known Such as high frequency trading (HFT), which gave it an unfair advantage.
Before all this, He creates a system called IEX. Investor’s Exchange is a stock exchange whose rules are made public favoring the transparency of the operations for both investors and brokers, as well as seeking to achieve a more stable market preventing accidents.
It would seem that Lewis’s book is a fictional thriller because of how interesting his narrative is and how well-described the characters are, but it really is a nonfiction book that does a critique of the financial system at the same time Which seeks to explain the operation of things on Wall Street and exemplify that there are people who are fighting for a fair system.
The main theme is complex, so the author must make use of the rhetoric of language to make the financial information completely comprehensible and digestible to the reader, which makes the book not only for economists or financiers, but for A wider audience.
Contrary to what one might think, it is an easy-to-understand book, with an agile rhythm and an interesting storyline. A work that seeks to make people aware of what is happening with the stock market. It’s a brilliant book.