-Mark Cuban, owner of the Dallas Mavericks
“In The Matrix, Morpheus, before giving him the red pill, asks Neo : ‘You're here because you know something. What you know you can't explain, but you feel it. You've felt it your entire life, that there's something wrong with the world. You don't know what it is, but it's there, like a splinter in your mind, driving you mad.” While Arnuk and Saluzzi will not expose every dark corner of the ‘matrix’ that our capital markets have become, they will provide the clues to aid you in your quest to understanding just why ever more people withdraw from trading fully aware that ‘there’s something wrong.’ Morpheus also asks: ‘Do you want to know what it is?’ To all who answer yes, and take the red pill, read this book.”
-Tyler Durden, Zero Hedge
"Arnuk and Saluzzi are the Woodward and Bernstein of the securities markets. Their gutsy, dogged sleuthing exposed the perverse market effects of robotic trading and predicted an event like the Flash Crash of 2010, long before blinkered market regulators had a clue. The two crusaders deserve a medal for looking out for investors."
“Who broke the Stock market? The NYSE
and NASDAQ, that’s who. They sold the investing public down the river so
co-located algo driven servers of high frequency traders could steal
billions by front running grandmas mutual fund. The horrific truth about
this legalized theft is all here in black and white. Read it, and you
will never so much as invest one thin dime in US equities again.”
-Barry
Ritholtz, CEO of FusionIQ, author of Bailout Nation, The Big Picture website, and Bloomberg
personality
"Bewildered by 'casino capitalism'? Stunned by waterfall declines in individual stocks – not to mention the entire market – that reverse in the space of an hour or two? Perplexed by the evident schizophrenia in traders’ herd-like embrace of “risk on” and “risk off” often many times a day? Gab smacked by the spectacle of major market averages climbing to new highs while investors pull hundreds of billions out of equity mutual funds – and trading volume evaporates? Frustrated – or mad as hell – that no matter how carefully you try to trade, someone always beats you to the punch? READ THIS BOOK. Sal Arnuk and Joe Saluzzi are rarities on Wall St. Genuine market pros in every sense of the word “genuine.” With the integrity to match. And investigatory enterprise and zeal that meets and exceeds any I’ve seen in nearly 40 years as a financial journalist.. Sal and Joe explain in wonderfully clear language how, instead of banning card counters, as they do in Vegas, Wall St. has re-made itself over the last decade or so to not only stack the deck in the card counters’ favor but to enable them to do so via ever-faster computer networks and algorithms, that leave not only ordinary investors but many sizable institutions, like pension funds, with worse odds than on a lottery ticket. There’s more, much more, in Joe and Sal’s book; it’s quite simply a must-read, if you care about your capital – or the future of our capitalist economy."
-Kate Welling, former founder, editor, publisher at Weeden & Co. LP, Welling@Weeden, former Managing Editor at Barron's
