this post was submitted on 06 Aug 2023
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Today I Learned (TIL)

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[–] [email protected] 6 points 1 year ago (1 children)

He wasn't the real cause of it though.

[–] bernieecclestoned 2 points 1 year ago* (last edited 1 year ago) (1 children)

What do you mean? There was a liquidity crunch because of a massive mutual fund order and his spoofing tripped the algos into selling

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago) (1 children)

OP's article is quite good.

It's more likely that there were several factors in play, including Wadell & Reed.

But if the market practices weren't so flawed with HFTs, none of that would have caused what happened.

[–] bernieecclestoned 2 points 1 year ago

Yeah, as it says it's like blaming lightning for starting a forest far.

The current dark pool stuff is probably ten times worse.