Michael Lewis reveals how some high speed traders run the stock exchanges for their own benefit in his new book (Flash Boys). He says that “millions of investors are fooled on daily basis and this is supposed to be a business of more than 20 billion dollars. He writes in his book“Flash Boys” that these people are not investors in any sense rather they are the high frequency traders. He says that this group of people buys and sells 90% of shares in milliseconds and they are armed with software and networking skills.

Lewis says that most of us knew that the online system of trading is more efficient than the old system but the risks of losing the money involved in this system are thousand times higher than the old system. When Steve Kroft asked him in CBS interview that who is taking the benefit? He replied a group of insiders who manipulates the market with the help of high frequency trading.  When Steve asked him who the victims are? He blatantly said that “everybody who has investment in the stocks market”.

Apart from this, the most famous writer opines that this system is very complicated and it is above your understanding that how it works. If it was not complicated, you would have surely questioned for it. Upon knowing this, Steve asked Lewis, is this done by computer? Lewis said yes. It is done by the computers. It is too fast to be done by human beings.

This book of Lewis has ignited a new debate in the stocks market. Few people say that Lewis has wrongly presented the high frequency system for his vest interests and a few claims that he is absolutely right in saying that “US Stock Market is rigged”.