Flash Crash by Liam Vaughan Summary
Overview of Flash Crash
How a lone trader from his bedroom triggered a trillion-dollar market meltdown. "Flash Crash" exposes Wall Street's algorithmic vulnerabilities, soon to be a Dev Patel film. As Bethany McLean asks: "How could one person crash the world's most sophisticated financial system?"
Similar books to Flash Crash
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Ключевые выводы
When a Trillion Dollars Vanished in Minutes
On May 6, 2010, the impossible happened. In less than five minutes, a trillion dollars evaporated from U.S. stock markets before mysteriously reappearing. Procter & Gamble shares plummeted from $62 to $39 in seconds. Apple stock briefly traded at $100,000 per share. The financial world watched in horror, paralyzed by a phenomenon no one could explain. For five years, the Flash Crash remained Wall Street's greatest mystery-until investigators traced the chaos back to an unlikely source: a socially awkward day trader working from his childhood bedroom in suburban London. Navinder Singh Sarao had never attended business school, never worked for a bank, and never even visited America. Yet somehow, this solitary figure had developed a technique so effective at manipulating markets that it would briefly break the entire global financial system. The S&P 500 dropped 5 percent in four minutes. Individual stocks traded at absurd prices-some at pennies, others at $100,000 per share. After a five-second trading halt, markets mysteriously recovered almost as quickly as they'd fallen, but the damage was done. A trillion dollars had briefly vanished, and no one knew why.
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Создано выпускниками Колумбийского университета в Сан-Франциско
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"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
Создано выпускниками Колумбийского университета в Сан-Франциско
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
"Instead of endless scrolling, I just hit play on BeFreed. It saves me so much time."
"I never knew where to start with nonfiction—BeFreed’s book lists turned into podcasts gave me a clear path."
"Perfect balance between learning and entertainment. Finished ‘Thinking, Fast and Slow’ on my commute this week."
"Crazy how much I learned while walking the dog. BeFreed = small habits → big gains."
"Reading used to feel like a chore. Now it’s just part of my lifestyle."
"Feels effortless compared to reading. I’ve finished 6 books this month already."
"BeFreed turned my guilty doomscrolling into something that feels productive and inspiring."
"BeFreed turned my commute into learning time. 20-min podcasts are perfect for finishing books I never had time for."
"BeFreed replaced my podcast queue. Imagine Spotify for books — that’s it. 🙌"
"It is great for me to learn something from the book without reading it."
"The themed book list podcasts help me connect ideas across authors—like a guided audio journey."
"Makes me feel smarter every time before going to work"
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