Whether looking at the nineteenth century or now, Wall Street has always had fast traders who knew how to get the news before their competitors.
Depending on how fast news travels, high speed trading can be done through homing pigeons or computers but both have created information asymmetry.
His 50th anniversary, Warren Buffett’s letter to his shareholders again conveys what he did right, what he did wrong and his folksy investing advice.
Stocks, investments, Wall Street…these names evoke images of men. Until after our recent class trip to the NYSE and Wall Street, I didn’t realize how true these images are. Standing in the stock exchange, I look down onto the floor…