The latest installment of Tim Harford's BBC/Open University podcast (RSS) More of Less has a fantastic and chilling look at the world of high-frequency automated stock trading, where warring algorithms execute millions of trades in an eyeblink. The story's jumping-off point is Knight Capital, whose faulty algorithm hemorrhaged $10,000,000 per minute, ultimately costing the company nearly half a billion dollars. But from there, Harford and co do a great series of examples trying to convey the sheer velocity of these markets. I've been following this stuff reasonably closely and had an abstract sense of it all, but this brought it home for me so firmly that it raised goosebumps.
Last week Knight Capital lost a lot of money very quickly. It was the latest chapter in the story of something called ‘high frequency trading’. Investors have always valued being the first with the news. But high frequency trading is different: algorithms execute automatic trades, conducted by computers, at astonishing speeds. We ask: is the rapid growth of high frequency trading progress, or – as some think – a threat to the stability of the entire financial system?
BBC - Podcasts - More or Less: Behind the Stats
Vtech is a ubiquitous Hong Kong-based electronic toy company whose kiddy tablets and other devices are designed to work with its cloud service, which requires parents to set up accounts for their kids. 4.8 million of those accounts just breached, leaking a huge amount of potentially compromising information, from kids’ birthdays and home addresses to […]
The new Raspberry Pi Zero is a $5 general purpose computer, manufactured in Wales, with more power than a 1980s personal computer.
BMG Rights Management and Round Hill Music. has been trying to enlist Cox Cable as an accomplice in a copyright trolling scheme, demanding that the company pass on copyright infringement notices that accuse users of downloading music and order them to pay large sums of music or face punishing lawsuits.
Celebrate Cyber Monday with some brain food. Save on any eLearning deal in the Boing Boing Store today using coupon code: CYBERMONDAY25. Below are a couple of our favorite eLearning offers: eduCBA Tech Training Bundle: Lifetime Subscription:Welcome to your personal online classroom, where you can finally study at your own pace, on your own time (and […]
This minimalist multi-tool will see to it that instead of rocking a tool belt, you’ll carry just one. It’s shaped slightly like a key and weighs less than an ounce, so it plays nice with your keychain. The strong surgical-grade stainless steel blade will last, and is handy for everyday tasks like opening boxes and […]
The Code Black is our top-selling drone of all time—and for good reason. This powerful, palm-size drone is not only insanely fun to fly, but can capture some serious video footage from up above. With a flight time of about 10 minutes and an ultra-smooth ride, it’s a great introductory drone for anyone looking to […]