"Why are you so invested in the idea this is fair?" - i love this

You shouldn't have the right to interview an author if you haven't read the book.

Michael Lewis is so intelligent. The interviewers are just human props to make it look like there's "another side" to this discussion. Michael Lewis is able to, with surgical accuracy, unpack, highlight fallacies, and completely dismantle everything that the interviewers attempts to throw at him. This is a masterclass in how to be interviewed on TV when presenting a sensitive subject.

This is hilarious. The guy is making a very distinct argument about HFT. The interviewers argue everything except what he's talking about. Then they title it "Nobody Understand the Stock Market."

the reporters are either really slow or intentionally trying to blur the issue. He did a fabulous job of re-clarifying. now I'm very suspicious of bloomberg.

"why are you so invested in the idea that this is fair?"" and those two idiots just didn't know how to respond

"Why are you so invested in the idea that this is fair???" "Because my network is totally based on the idea this is fair."

Michael Lewis does a great job in this interview. The idiot interviewers interrupt him and try to mix his words. C'mon Bloomeberg! Respect Lewis he knows what he's talking and writing about.

Lewis is the BEST non-fiction writer working in America today, by far.

Michael Lewis is truly a fantastic writer. He took two things I have absolutely no interest in, Baseball and statistics and made it into a page turner. I'm currently half way through "The Big Short" and yet again he's got me hooked on subprime mortgage bonds. Insane!

People will never believe what they dont want to believe. This made me appreciate Michael Lewis SO much more. And how he raises his voice to shut out the terribly arrogant Bloomberg interviewers. Thank you, sir

Has the system always been rigged? Yes... in different ways. Lewis cleaned the floor with these two. Priceless.

God I love the way Michael Lewis gets in the face of that pansy assed interviewer and says, "WHY ARE YOU SO INVESTED IN THE IDEA THAT THIS IS FAIR???" And the two interviewers just get tongue tied and stammer. This is what it looks like when talking heads meet a real journalist.

This is how robinhood makes money today without fees )))

Michael Lewis is really smart, mixed with over two decades of hands-on experience, and association with the most knowledgeable participants both on and off Wall Street. These reporters (?) appear comatose. Clearly have not read the book, nor do they understand Michael's argument.

apparently its these hosts that dont understand the stock market,,,

Why do they have reporters that have no idea about what they're reporting? can they really not find someone with at least some understanding?

Casino analogy is excellent... They skim a little off the top of every gamble!! Exactly what happens in equities and commodities.

"Yeah, well, it is rigged" lmao boss response

Michael Lewis is a King. A King who destroys these peasants that have Bloomberg in their earpiece saying, "Don't let him prove it is rigged!"

"In order to front run, you have to have a client". This shows how totally clueless these TV prop hosts are, completely unaware, or worse, misdirecting viewers from the truth intentionally.

Michael Lewis has been made fun of and questioned - when 2020 happened and the Robinhood incident - it proved him right.

I love how people who work in the industry argue that it's not rigged.

My smart and caring financial professor recommended your earlier book "Liars Poker" to the class; and it's still my favorite must read book .

The hosts should be embarrassed with their performance. Michael Lewis is shining a light on Wall Streets shenanigans and their greed , while both hosts are showing their biased allegiance towards Bloomberg and their big Wall Street donors

Totally agree with Michael Lewis.. Home day traders are the one who really get screwed over.

Thank you Michael. Now I can see what it’s like to talk to trees

good god let the man speak. what these news people know about the stock market probably fits into a thimble!

The host are so ignorant and bias. Why don’t they keep quiet and listen before they interrupt the guest?

These "hosts" are an absolute embarrassment. Do they even understand what "Flash Boys" is about?

Kudus to Bloomberg for letting interviews go long and letting guests talk.

They should shut their pie holes and let the man speak. Listen and learn.

"Rigged" may not be the best choice of words. But others having an advantage is absolutely true.

3:41 "In order to front-run, you have to have a client." I am sorry for Michael for having to go through this interview with these uneducated cringe-worthy hosts. "Front running, also known as tailgating, is the prohibited practice of entering into an equity (stock) trade, option, futures contract, derivative, or security-based swap to capitalize on advance, nonpublic knowledge of a large pending transaction that will influence the price of the underlying security." From Wikipedia. Now try to find where this sentence says that you need to have a client to front-run someone. I really can't believe this. Bloomberg, you are a joke. Find some people who know about the subject before interviewing someone like Michael Lewis. How you can afford to make yourselves look that bad is beyond me.

It's fun watching the masses starting to wake up! Come on everybody! Coffees brewing!!!!!!

this is the best and most honest interview in a news room

Michael Lewis explains how high frequency traders are front running orders. The hosts irrationally avoid the front running issue.

Wow these hosts. It's almost like they panic because there is some truth being broadcast on TV.

People who defend HFTs either don't get it, or make money off it.

I watch Bloomberg and these comment below are right.. the hosts need to be quite(shut up). They get a high profile guest and interrupt him

these hosts are totallly out of their minds haha..

A now years later we know everything he said is true and the talking heads have no idea even the questions to ask. Stupid press is the biggest problem we face today.

I was a stock broker in 1975 in Dallas TX. The New York traders always knew first what was happening and only after they had traded out of their positions at a profit and the losses were all over the place did we know what happened in Dallas.

This aged like a prophecy!

lesson: Dont trade, only invest longterm = over 10 years

2:46 * Casino = Stock Exhange * Poker players = High Frequency Traders * Tour group operators = Banks and the brokers that handle stock market orders. * Tourists = You

In order to fully understand the stock market, which is highly related to finance, one would need top notch education/qualification, such as a CFA, MBA or Ph.D in finance from a top rated global business school. Born as a gifted finance genius is another way to fully understand the stock market. Being able to translate this knowledge into money is another story.

I love this guy. Wow so informative

His books should be a requirement in every school

When I used to put stock order trades out, I used to put my real limit order trade on the market and then quickly put a very large limit order trade on the other side, which was 10-20% from the market price...then move it slightly closer to the market price, until my real trade was completely picked up. My real trade would get taken quickly by the market-maker computers, because they also saw the huge demand from my other big-order-bait, then I'd simply cancel the other bigger order. You can manipulate the market maker algorithms with really large orders that are somewhat far away from the market price.

Thank you, Michael

I respect Bloomberg for having shared this.

“How did that get jacked right in front of my face every time?”. Great question

1. Make a list of everyone who strongly disagrees with this guy. 2. Jail them all and seize their ill gotten gains. 3. Use 1 per cent of those recovered funds to pay for their lifetime needs in jail.

Both parties are wrong but Lewis is very close to right. No single trader is being lied to. He knows the environment he's in and the market is way too large to punish him in isolation. He loses because it's his fault. The market is just a never ending opportunity stream, where large entities win.

This thread of comments is so much better than the interview. I love how erik tells mike that he read the book but still misunderstood all of the bad stuff being done by the brokers. He then says that mutual funds lose money, and implies they deserve to lose more money. Bloomberg wants it's viewers to lose money and lack understanding. We need more financial sources not CNBC or Bloomberg. That's why generation is buying BTC over stock. Can't dilute Bitcoin at the command of a CEO

If one needs a Phd in physics to understand some of products offered in Wall Street, like derivatives for instance, that means 99% of investors are being fleeced.

It is possible to make money in the market. Some have a built in advantage but think of it more like you and someone else running from a bear. You do not have to be able to outrun the bear. That is not possible, BUT to "win" you only have to outrun your companion!!

We invite a guy who knows his thing and we will give him those "wtf are you talking about?" looks every time he says something inconvenient to the narrative we are pushing. Hey, it is no big deal we only have a small audience of millions who will trust a name like Bloomberg with financial information. No harm done :D

Great explaining Michael!

Jack Bogle understood it.... RIP Jack x

the amount of triggering that ML can do to mainstream wall street people is like 90% of why I consider him credible

You have my utmost respect Mr. Lewis for speaking out the truth. Where is the SEC?

Economic investigator Frank G Melbourne Australia is still following this informative content cheers Frank 😊

I have placed orders for low volume stock and watched the asking price/spread to go up a tick each time I raise my limit a tick. Then retreat as soon as I remove the order. Its totally rigged and unregulated.

The interviewers don't seem to grasp what Michael is trying to say here....

I learned stuff. Thanks

Use a limit order. Makes no difference if someonee thonks they know what your going to bet on. You want a specific price. And if your lucky the hfts will be active and if they happen to be dropping the stock you want, you'll get a better price than you iriginally wanted.

Why didn't he just conduct his own interview?

omg can the reporters stop fucking interupting Micheal...

I wish I had this man as my friend.

This guy is brilliant

Algos front-run all the time!

both the interviewers are nonsensical and ask Michael questions for the ask of asking questions without any knowledge of HFT nor are they interested in listening to what michael says. dumb...

The way to win in the market is to set the price you want to pay, or sell at. Market trades seldom work in your favor. Know when to walk away, when you have made a reasonable few dollars, and can keep a profit. Remember the old Wall Street axiom: Bulls make money, bears make money, pigs get slaughtered.

Sounds like somebody understands the Stock Market. Cmon Bloomberg

So annoying these interviewers aren't letting him talk.

shes gettting frustrated with explaining herself because she doesnt understand the topic and hence has no idea on her own lline of questioning. Which is why shes getting emotional. Worst traders are the emotional ones, then again i dont think she has ever made a trader in her life. ludicrous reporting.

9:23-9:35, truer words have never been spoken

Haven’t read the book but I agree with 100 percent.

That's because the stock market doesn't exist. It's a bunch of competing computer viruses running in some server rooms in NJ.

The market is NOT rigged, in that, it's still a valuable invest tool. It's RIGGED in the sense that there are certain investors who take advantage of other investors. An individual retail investor should not be turned away from the market because it is "rigged" against them, but it's absolutely true that HF traders are taking a small percentage of their trades, as well as their retirement via their mutual fund's and active money managers. It's small, but massive in terms of the entire market. I don't understand why that's so controversial, it's not debatable, and it's about time we make noise and fix the problem.

It is a game being played by the people with the most to stay ahead of most but will never relinquish control of the world unless forced to.

Michael Lewis is 100% correct here.

Lewis did a nice job explaining. Even more impressive was his patience with the hosts .. Why are these guys standing up for a rigged system? Don't you like to see someone with the knowledge come forward?

those reporters, good lord...*facepalm*

i bought a stock. immediately stock went down in price...I sold it..immediately stock went back up. I had this occur 3 separate occasions without fail. i pulled my money

The stock market is liken to playing musical chairs: When the music stops ("Margin Call", Jeremy Irons)) somebody's not going to have a seat.

If all Brokers and Account Managers can be sincere like Frank Robert i think no trader can be suffering losses all the time, as nice as he is telling one the truth at the right time with his awesome strategy taking traders challenges upon himself, i am blessed in trading with him as my Account Manager, right with him my weekly winning is always 25k usd, he is so nice to everyone that comes his way.

i dont have a stake. ARE YOUR KIDDING!!!!!!!

Ladies, gentlemen, thank you for coming, please take your seats. I’m mr. Buttworth. Welcome to Missing The Point 101. If you think you’re in the wrong classroom, you’re in the right classroom.

Wow super interesting !

This seems to be a common theme in American interviews. You invite someone onto the show because they are an expert on something, then you get an interviewer who is by definition is not as well informed about the topic (or in this case two interviewers), then you get the interviewer to berate and talk over the expert without listening to them. Why should I give a damn whether that nobody in the grey suit disagrees with Michael Lewis? You could see the incredulity on Lewis' face... "why are you so invested in the idea that this is fair?" He has to insist that they stop talking and let him answer the question, then when he finishes, the next thing the interviewers say shows they weren't listening ("you're putting white hats on institutional investors", or "And you don't feel good about [electronic brokerage, which he just said was a good thing]")

a random person off the street would have conducted a better interview

This is great television.

Thomas Peterffy is telling a big portion of the rigging story.. In 1977, Peterffy purchased a seat on the American Stock Exchange and played a role in developing the electronic trading of securities.

The hosts seem to not get any of his arguments. Bloomberg hosts are pretty biased against his argument.

Those are the worst interviewers I have ever seen. This could have been a good interview full of great information. Instead, there lack of knowledge is pitfall. Talk about the wrong questions and uneducated statement. Everything is better than 20 years ago, now that we have computers, so it is OK I get screwed by a bunch of geeks and bankers with high speed computers with unfair connections to the markets.. And before you blast me... I am a geek and the way I see this is a scam. Plain and simple robbery..... is all this is....

I invest in the market - over 30 years - I would encourage people to invest long term. Is Lewis correct ? Absolutely- 100 percent. You get fleeced at first with trades - best to go with index funds , and some blue chip long term stocks. Great book.

Wow. You heard it here folks.