Wall Street’s Bull Market Making Investors Smile
This month marks the 5th anniversary of the current Bull market on Wall Street, making it one of the longest and strongest in history. Yet US stock ownership is at a record low and less than half of Americans trust banks and financial services. In the last two weeks, the New York attorney general and the Commodities Futures and Trading Commissioner in Washington have both launched investigations into high frequency computerized stock trading that now controls more than half the market.
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In best-selling author Michael Lewis’s new book Flash Boys, the argument is put that the stock market is now rigged to benefit the group of insiders who have made tens of millions of dollars exploiting computerized trading.