My father always said "You don't make that kind of money honestly." If he only were around to see just how dirty it's gotten.

@andrewcpu

Жыл бұрын

He knew

@clouddylol

Жыл бұрын

Your father was light years ahead of his time, god rest his soul 🙏

@Dr.Weed8

2 күн бұрын

That’s the same thing Charlie sheen’s dad said to him in that Gordon gecko movie. Don’t forget their just spoofing the order flow. No one can manipulate a stock for more than 10-15 seconds. Hit and runs all that, there’s no manipulation tactic that I know where you can hit a stock down and keep it down.

"High-speed predators" - now that is a good expression.

@663rainmaker

3 жыл бұрын

Hal Hal Hal ... Space Oddity 2021

"There is enough in the world for everyone's need, but not for everyone's greed." (Gandhi)

@patricesilva8004

3 жыл бұрын

Thank you. You said it

@patricesilva8004

3 жыл бұрын

Greed greed greed but the time will come that they will be so miserable they always go to far with everything

@Missy-Missy1111

3 жыл бұрын

@@patricesilva8004 🤞🤞🤞

@gabemendoza1052

3 жыл бұрын

True that.

@inkinallday1498

3 жыл бұрын

Well said

Retail are seeing their IEX buys going through market makers like Citadel first. Defeating the object.

@ClickBeetleTV

2 жыл бұрын

Yep. A lot of retail brokerages are eliminating transaction and holding fees, but it's because they're selling your orders to a hedge fund who's going to sell you higher priced stock so the brokerage wants you to make more trades and generate more kickbacks.

The way they get around this now is through payment for order flow.

@barthsburgers7524

2 жыл бұрын

That's misguided Also fidelity doesnt charge commission or do payment for order flow

Criminals on Wall Street is the norm, all of them are OUTRAGEOUSLY GREEDY and the machines used to trade are corrupt !

"We've had many asking for a backdoor." Yes, that tells you something.

That's why the GameStop/ Reddit people have them angry

@doubletrouble5026

3 жыл бұрын

good they lost billions

Yes and if some responsible person were prosecuted and found guilty they would likely get 90 days probation.

@gordongekko2781

2 жыл бұрын

They know the parties who were responsible (they are physically connected by fiber optic lines), but it was a new tactic, so there were no laws against doing it. Now, there is a required minimum length of the fiber optic lines that connect to the stock exchanges, so dozens of firms have setup servers that are exactly the minimum distance from the exchange hub. Theoretically, this levels the playing field between investment firms. (But, is that enough to protect investors? Maybe it is or maybe it's not.) Plus, in the past year most brokerages have dropped their commission fees in place of favored routing (pay for order flow), so who even knows if the price you get is truly the market's best price when you place a trade. Regardless, a penny or two per share is a small price to pay for commission-free trading, so I consider that a win for investors.

Thanks 60 minutes. Great coverage. Meanwhile all across the board, we see in local news, the media, and social media video posts of "terrible scam artists" aka homeless beggars, doordash delivery drivers stealing meals, and pre-recorded violin street performers who got away with $5-$10.

There is always someone smarter, more creative and a good aggregator of talent to outdo whatever has already been done.

This sxxt is crazy! This is why the rich/wealthy/well-connected will ALWAYS get richer while the rest of us fight over the skimpy morsels left over (if that). Disgusting!

@mossmichael5882

3 жыл бұрын

Why do we still have financial challenges when we can actually earn real and legitimate profit through investment in crypto currency?? I can lead you through it if you let me.

And the markets are still dishonest as ever. Nothing has been fixed.

@gabemendoza1052

3 жыл бұрын

Sad that we favor the stock market environment more.

@toddinthemiddle

2 жыл бұрын

the sec is on the payroll. billions of dollars being made by crooks and only hundreds of thousands worth of fines for their violations. there's nowhere for retail traders to turn, because there is no one that will stand up due to payouts. absolute power corrupts absolutely.

@LesGrossman69

2 жыл бұрын

@@toddinthemiddle They look at fines simply as a cost for doing business...

@toddinthemiddle

2 жыл бұрын

@@LesGrossman69 if one of us peasants committed anything along the lines of fraud or theft, it would not only be exorbitant fines, but likely jail time,too. there is still a great deal of money to be made from the stock market, but when we don't know the bottom or control the top, or anything in between, it's an unfair (criminal) advantage. maybe i'll luck out and get a sliver of pie from AMC.

@NYSHARK101

2 жыл бұрын

DEATH CROSS OVER BITCOIN AGAIN BIT COIN DROPPING FAST ! getting rejected again😫 @32K going down more than a Kardashian 🤣below$8,000 dragging DOGE COIN Eventually Under .10 cents😫 DUMP BOTH NOW!😡

Ridiculous result of excessive greed!

Retail day traders have almost no chance against this system.

Brilliant piece!! Well done 60 Minutes!!

@zigavojska1672

Жыл бұрын

Veselak is slovenian surname meaning "The happy guy" :) Regards from Slovenia, Ljubljana.

Good job Brad Katsuyama!

I put in automated trade to buy a a few shares for “$1” and the price remained at “$1.01" or higher for the whole day. This mostly applies when you’re paying the market price.

I really like this Canadian Guy!!!!!!!!!!!!!!!!!!!!

I attribute, in part, my mother's death (of ALS related death by suffocation) to the money she lost in 2007. People were devastated. And these shameful Wall Street goons do not care. Their greed is evil!!!

@emmaevans7011

3 жыл бұрын

I totally agree. My father and his wife lost their entire retirement savings in the GFC. His wife also died way too young from ALS. My father soon declined into dementia.

@morningtrees2090

3 жыл бұрын

@@emmaevans7011 We are their survivors; we should write an anthology or something.

@getredytagetredy

3 жыл бұрын

They are the Zionist bankers with their Unit 8200 that controls the Worlds Intel of all systems for their NWO Evil Greed Horrifying Psychopaths

@calvinthestormfreak

3 жыл бұрын

WHY DID THE RICH AND INSTITUTIONS NOT TELL THE PUBLIC THEY WERE BUYING CRYPTO?? INSTITUTIONAL INVESTMENT WENT FROM 1/3 TO 1/2 AND THERE WAS NO NEWS AT ALL ON IT!!!!!!!!!!!! THIS WENT ON FOR ABOUT A YEAR OR MORE.

@NYSHARK101

2 жыл бұрын

DEATH CROSS OVER BITCOIN AGAIN BIT COIN DROPPING FAST ! getting rejected again😫 @32K going down more than a Kardashian 🤣below$8,000 dragging DOGE COIN Eventually Under .10 cents😫 DUMP BOTH NOW!😡

Brad, the first to figure the rigging of concert tickets, i’ve experience. I went to see seats n price, found but could’nt buy right then. Came back to it n the price jacked up. I thought it was the cookies left behind. Once i cleared then logged back in browser - the price was back to the original price ...

Trust is paramount! The story ended hopeful. Honors to the honest people.

@leea3531

3 жыл бұрын

When getting too deep goes wrong.

Can't believe this has so low views and outrage. People should be rioting over the thieves.

Doubt that many individual investors make much money....shows on t.v. make you think you can trade and make a ton of money.....all a con game!

Cheaters cheating Bigger Cheaters. Cry me a river. The market is rigged alright, but the ones who should be complaining are the regular Joe investors.

@lisajohnson6351

3 жыл бұрын

They don’t know what’s happening.

This has been going on for years it's usually pennies at the time. The bigger deal is headline trading algorithms and even the older close caption readers

Billions in technology and billions in unethical trades defeated by basically a bunch of lead cords strung together,

tax every trade .. shut down the HFTs ..

@17addidas

3 жыл бұрын

WHEN will ALL Financial Transactions( Wall Street ) be subject to a tax ??? Is this activity any different from a toothbrush changing hands from seller to buyer in a Supermarket ??? Changes demand courage and commitment .... Wake up Lawmakers !

Wait for Robinhood in 2021. Talk about front running

I assumed it was always"fixed."

it's Michael Lewis again, the most feared person on Wall Street

This explained why stock price jump 10% the exact seconds the earning report is out, computer read the report and trade before we even get to.

@calvinthestormfreak

3 жыл бұрын

WHY DID THE RICH AND INSTITUTIONS NOT TELL THE PUBLIC THEY WERE BUYING CRYPTO?? INSTITUTIONAL INVESTMENT WENT FROM 1/3 TO 1/2 AND THERE WAS NO NEWS AT ALL ON IT!!!!!!!!!!!! THIS WENT ON FOR ABOUT A YEAR OR MORE.

I'm gonna tell my kids this was The Office

So who is responsible for HFTraders???

@spideywhiplash

3 жыл бұрын

Exactly!! Why didn't they tell us?

@SuburbanPookie

3 жыл бұрын

Banks and other institutions

@spaceman5734

3 жыл бұрын

@@SuburbanPookie No Rubbish. Its Wall St themselves that do it all. thats why they didnt say who..

What impeccable timing algorithm..

As technology advances and we as humans give computers more and more responsibility these type of problems will arise. People will try to cheat systems to their advantage by creating strong algorithms not just in investing, but other areas of society as well.

@mossmichael5882

3 жыл бұрын

Why do we still have financial challenges when we can actually earn real and legitimate profit through investment in crypto currency?? I can lead you through it if you let me.

@jbizzle1966

3 жыл бұрын

You cant arrest a blackbox trading algorithm for insider trading or for anything.

@foxtrot4769

Жыл бұрын

Sure you can. Someone coded it to do exactly what it does.

So if by chance he didn't hire that Irish guy who worked for the firm that layed the high speed cable previously no one may have never figured this out. This was pure luck. " Behind every great fortune there is a crime." Balzac also the first line in The Godfather the book.

I would put in an order for a stock and set a limit on the price, higher than the current market price. I always paid a price close to my limit. I knew what was going on, but there was nothing I could do about it. So, I stopped buying on the short term, picked a dozen long term positions and put everything else in index funds.

Be a shame if someone accidentally dug up the cable..

@christinanapolitano6837

3 жыл бұрын

I agree😂they should

Thank goodness for 60 minutes

13:52 - Einhorn is Finkle

And.....so what's changed since this report?

@HTHAMMACK1

2 жыл бұрын

Not a damn thing.

Where did you get this video......This is a fantastic video of information

Very interesting, unbelievable the sec allows this to go on...

@stephenford6132

2 жыл бұрын

American greed the country some people keep calling great I only know it for great corruption and atrocities

The actual physics behind front running fiber optic signals allows it to be legal compared to the traditional meaning of front running stock information. If you put together a smart group of engineers, lawyers, and policy writers and explain this to the SEC, laws could change and things could greatly improve.

@pangkaji

2 жыл бұрын

It is a cyclical loop. Katsuyama said in a number of his talks, scandals leads to regulation. There is no such thing as a perfect regulation. All regulations have loop holes. Loopholes lead to exploitation. Exploitation leads to new scandals. And the cycle continues. Katsuyama went to the SEC and the SEC were divided into 2 camps. The older regulators thought it was an outrage. The younger regulators were sympathetic to the HFTers. So Katsuyama though he would get nowhere with the SEC.

Easy solution is to put federal tax on each trade. High frequency traders can fix the deficit.

@haronarama731

Жыл бұрын

They pay tax on the wash sales. But it doesn’t matter if your profit is coming from essentially taking someone else’s money for nothing

*The stock market is a good way of income because I had to leave work during last year pandemic period and all I did was to focus on the stock market* *I must say that it wasn't so easy at first but all thanks to it by the way*

@kingsleydominic1921

3 жыл бұрын

I have always believe in Stock market and other Economic activities but It's really unfair that 2021 trading and stock market is just difficult and unbelievable which is too bad now i rather invest my money only on bitcion and gain more profit in return

@didic7817

3 жыл бұрын

Yes sure Bitcoin trade is great unlike the stock market and other financial market Bitcoin has no centralized location since it operates 24hour's in different parts of the world

@pearlzipora7631

3 жыл бұрын

Bitcoin trading might make you rich if you are hedge found with deep pockets or an Expert skilled currency trader

@andreaurela5643

3 жыл бұрын

After a successful investment you have nothing to worry about whether the rise and fall of economy or anything won't affect you make your future brighter by making good investment

@aliexpressfashionhome8220

3 жыл бұрын

Currently the rich stay rich by spending like the poor and investing while the poor stay poor by spending like the rich yet not investing like the rich

"It didn't feel right, that people are leveraging the compensation I get for a days work, into hedge funds and corporate buyouts and limited stock options, until someone else leveraged the compensation for THAT days work, into a manipulation of the market, that manipulates the compensation for my day's work." 5:30

what a brilliant young guy...woe

This was broadcast in 2014? It continues to this day. We will never learn

A year or two from now I feel like I’ll be watching a 60 Minutes interview with Michael Lewis talking about his new book “Bitcoin - The Rise and Fall of Cryptocurrency!” Lol

@kimk2635

3 жыл бұрын

You know it, they are both scans too & those ones allow organized crime to get around the digital transfers that we can follow with real money..

@Andreas_Mann

3 жыл бұрын

Watch Bitcoin rise to 100k this year and to 1 million in the next few years

@juliocamacho8354

3 жыл бұрын

@@kimk2635, unlike fiat money?

@matthewheathcock

3 жыл бұрын

Bots are already being used in crypto

@KaliYugaSauce

3 жыл бұрын

Actually the key difference is blockchain. It is an immutable and transparent ledger and is the backbone of cryptocurrency and other decentralized applications that would make the types of scams in this video very difficult to pull off. Trust and transparency in transactions are something needed in the world especially when it comes to exchanges of value.

Gordon Gecko is alive and well on Wall Street.

The tortoise beat the rabbit...

Would love to see a video update on this. I am sure they are trying to do something else to bypass this.

@SanderSovrlic-alesov

5 ай бұрын

They all went into crypto

So sad seeing this and i guess things didn’t get better

If your a day trader then use limit orders. When placing a market order the execution price seems to be a little higher.

WHEN will ALL Financial Transactions( Wall Street ) be subject to a tax ??? Is this activity any different from a toothbrush changing hands from seller to buyer in a Supermarket ??? Changes demand courage and commitment .... Wake up Lawmakers !

Who here is watching in 2021 AMC and GME 🚀😎

2022 is going to be crazy

Fantastic Story!

Madoff was not the only Ponzi scheme in town.

Thank you 🙏🏿

Nothing has changed. Now we call it lag. These free trading platforms do the same thing. Nothing is free.

Wait for “quantum computers” who do you think will be first in line for that piece of technology.

This story reminds me of the Crooks on HBO Billions

Sad thing is iex only has 2.5% of market share amongst all the exchanges

I had a teacher in high school who taught the Market..I ask did he own stock and 'play'' the market? He replied "Are you crazy! NO!"

🐢 beats the 🐇 once again. Once you cut thru the bs it’s all so simple.

Coinbase is doing this!!!

@calvinthestormfreak

3 жыл бұрын

WHY DID THE RICH AND INSTITUTIONS NOT TELL THE PUBLIC THEY WERE BUYING CRYPTO?? INSTITUTIONAL INVESTMENT WENT FROM 1/3 TO 1/2 AND THERE WAS NO NEWS AT ALL ON IT!!!!!!!!!!!! THIS WENT ON FOR ABOUT A YEAR OR MORE.

With that title, I thought this was going to be about the 2020 Presidential election.

@jbizzle1966

3 жыл бұрын

Me too! Maybe later?

Not fair!

In order to beat high frequency trading, use limit order with a price you want.

Type of guy that needs to be President ! Money can’t buy integrity!

My GAWD. I'm getting out.

A very interesting documentary

Just like boxing. What beats speed...timing

I KNEW IT WAS IEX!!!!

Wow, these guys may be honest!! That is scary!

It'd be nice if there was a update at the end of what happened after. Is IEX still around....

Ronan Ryan is now the president of IEX. Fair play to him and shows how someone can turn a "trade" into a career of trading.

There is one hole in the bucket identified in the US, and there are strategies to fix it, but I wonder, what about financial markets worldwide?

Please restore the trust - everywhere!

@FaithandNova

3 жыл бұрын

It's only going to keep getting worse unfortunately.

Hedge funds Vs. High Frequency Traders... LOL ... the timing of this is interesting. given the whole GME fiasco

@seeit360

2 жыл бұрын

GME isn't over. Not even close.

Bravo to Mr. Michael Lewis! AGAIN!!!

Big! Love that kind of story !

The CASINO IS RIGGED!

Yep

And the SEC going to do nothing!

would be easier to load the system with buy orders for a single stock and the cancel them and then market buy the stock.

Interesting story but I won't be holding my breath waiting for anything, ( as far as leveling the playing field ), to change because of it ........

@thelasthourgetready

Жыл бұрын

Exactly wall Street has endless schemes and connections

Like we didn't know this was goin on before this older 60 minute video. It hasn't changed either.

Can indices be manipulated like Dow Jones?

Still rigged.

Facts!

We need to put an end to this scam & all the others or government employees allow.

@ChicanoOne760

3 жыл бұрын

The mob started this scheme. They even infiltrated the government and military

IT program certified algorithms

I bought a copy of flash boys in business school after my finance professor told us this story in class

Now I know why stocks always fall when I buy and go up when I sold....

So what's new?

Here is the scam I see. I see a spread of Say $1 :$50 bid $51 ask. This is insanely high and the "specialist" market maker are not supposed to allow it but they do. I put an order for say 50.25. Before by order reaches the floor the computers show a bid of 50.26. I raise to 50.41. Computer to 50.42. I go to 50.51. If my order goes through the computer reverts to bid if 50.00 so I've lost 1% instantly to the computers. For most they pay $51, bid reverts to $50. Scammed out of 2%. Nothing is done because the regulators are in bed with these guys.