A whack of (presumed) fat-fingered orders caused a massive, one-second drop in stock-trading yesterday; the trades fell through the cracks in the anti-flash-crash stuff that's supposed to keep the high-frequency traders from destroying the planet.
A modest version of that happened in a bunch of stocks yesterday. AOL, for instance, pictured above, just trucked along, then WHOOM, then went right back to trucking along. MoneyBeat has some intraday charts -- of AOL, Marathon Petroleum, Lorillard, Canadian Natural Resources, Nabors Industries and, awkwardly Nasdaq OMX -- and is it weird that I want to get large prints and hang them on my wall? They're kind of beautiful, although I guess "my kindergartner could have drawn that" would be a valid criticism. They have a distinctly scribbled look.
Stock Markets Had a Rough Second Yesterday [Matt Levine/Bloomberg View]
(via Interesting People)
I first started writing about the remarkable Joi Ito in 2002, and over the decade and a half since, I’ve marvelled at his polymath abilities — running international Creative Commons, starting and investing in remarkable tech businesses, getting Timothy Leary’s ashes shot into space, backing Mondo 2000, using a sprawling Warcraft raiding guild to experiment with leadership and team structures, and now, running MIT’s storied Media Lab — and I’ve watched with excitement as he’s distilled his seemingly impossible-to-characterize approach to life in a set of 9 compact principles, which he and Jeff Howe have turned into Whiplash, a voraciously readable, extremely exciting, and eminently sensible book.
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