(4-2-14) According to Michael Lewis, author of "Flash Boys," the UK Guardian reports that "the US stock market is rigged in favor of high-speed electronic trading firms, which use their advantages to extract billions from investors."
"The market is rigged" -- the implications of that word "rigged" in mainstream media is profound and that's whatâs gotten everyone in financial media, especially the shills and the touts, up in arms -- the use of the word "rigged."
The upshot is that writing such a book and telling the truth is not responsible, knowing that 82% of investors who constitute the Great Unwashed â referred to as Mom & Pop Hundred Share Investors on Main Street â could very well have a knee-jerk reaction to it â when it really doesn't affect them. Why? Because the amount of transacted volume by Mom & Pop only constitutes about 2-3%.
This does affect them however in their capacity as being investors in mutual funds, where the turnover in those funds is more frequent.