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Saturday, 4 July 2015

'The market is rigged' - Michael Lewis

 
                Michael Lewis was born on October 15, 1960 in New Orleans, in

            

             Louisiana, to corporate lawyer, J. Thomas Lewis and community activist, Diana Monroe Lewis. He attended the college preparatory Isidore Newman School in New Orleans. He then joined Princeton University where he received a B.A.( cum laude). He was a member of the Ivy club. He worked with New York art dealer Daniel Wildenstein. He, later, obtained his M.A. degree in Economics in 1985. He is a non-fiction writer and a financial journalist.
        
              He got educated at London School of Economics. Lewis was married to Diane de Cordov Lewis and then to former CNBC correspondent Kate Bohner, Later, he got married to the former MTV reporter Tabitha Sorenon on October 4, 1997. He and Soren have two daughters and one son Quinn Tallulah, Coxoe Lee, and Walker Jack. They reside in Berkeley, California.

      
               His notable and best selling works are Liar’s Poker(1989), The New Thing(2000) Moneyball; The Art of Winning an Unfair Game(2003), The Blind Side: Evolution of a Game (2006), Panic (2008), Home Game: An Accidental Guide to Fatherhood (2009), The Big Short: Inside: Inside the Doomsday Machine (2010), Boomerang: Travels in the New Third World  (2011) and Flash boys(2014). He has also been an editor to Vanity Fair since 2009. In 201`4, his book Flash Boysm which looked at the high-frequency trading sector of Wall Street was released.

       
             In his book, Flash boys' Mr. Michael Lewis has highlighted his meticulous observation how electronic trading has rigged the market against ordinary investors, particularly in America. Michael feels that whatever is happening in America is going to have its impact in Asia and Europe too.Lewis did highlight the issue of predatory High Frequency Trading activity. He calls this a major problem. Four years after The Big Short, his best seller, Michael Lewis returns to Wall Street to focus on focus on a high-tech predator stalking the equity markets. 
     
             The book, Flash Boys, is a Wall Street revolt. It is about a small group of Wall Street guys who figure out that the U.S. stock market has been rigged for the benefit of insiders and that , post -financial crisis, the markets have become not more free but less, and more controlled by the big Wall Street banks. Working at different firms, they come to the realization separately, but after they discover one another, the flash boys band together and set out to reform thefinancial markets. They do this by creating an exchange in which high frequency trading -source of the most intractable problems- will have no advantage.
         
                    According to Huffington Post, Michael Lewis is one of the premier chroniclers of our age.
            

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