Book Club Discussion Questions for Flash Boys by Michael Lewis

We will be discussing Flash Boys by Michael Lewis at the Las Vegas Non-Fiction Book Club soon.  These are the questions I will use to keep the conversation going.

Prior to reading this book, how much did you know about high-frequency computerised trading in US stock markets?

What do you think of Lewis’ storytelling technique?

Are you an investor in the US stock markets? How does it make you feel to learn that he big banks are siphoning off billions of dollars from the stock markets?

If a bank invests in an asset, such as a fast fibre optic cable, or high-quality computer code, then should it be allowed for them to utilise that asset to profit from markets?

As Lewis says, the entire history if Wall Street was the story of scandals, every systemic injustice arose from some loophole in a regulation created to correct some prior injustice. (p101) Is this situation different? How?

Could financial regulation solve any part of the problems caused by HFT?

Lewis compares the exchanges to a rigged casino (p179), is this an accurate analogy? Or are they just like an ordinary casino?

Lewis seems to think that Goldman Sach’s prosecuting Serge Aleynikov for “stealing” their code and their huge support of the IEX on Dec 19th are contradictory. Do you think so?

How do you see stock trading evolving in the future?

Have you read any of Michael Lewis’ other books eg The Blind Side or Moneyball? Would you be interested in reading them now?

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