The Wall Street panic,in my opinion, is over. It had to come. Stock speculationhad become...
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The Wall Street panic,
in my opinion, is over. It had to come. Stock speculation
had become crazy. There have been
dozens of stock-market crashes since the Wall Street
Crash of 1929. Although most brokers tend
to have a short memory, it was bound to happen again. Last week, after
Standard & Poor's downgraded America's credit rating
from AAA to AA+, the markets plunged
across the planet from the US to the Middle East,
all the way to Asia. The speed of transactions
has become such an important variable
in the market economy, that faster algorithms
can make millions in a matter of milliseconds or can crash entire markets by triggering mass
defensive responses from automated computer systems. According to Marks,
the word on the street is that millions are
now calculated in milliseconds. The ripple effect was felt
all over the world
in my opinion, is over. It had to come. Stock speculation
had become crazy. There have been
dozens of stock-market crashes since the Wall Street
Crash of 1929. Although most brokers tend
to have a short memory, it was bound to happen again. Last week, after
Standard & Poor's downgraded America's credit rating
from AAA to AA+, the markets plunged
across the planet from the US to the Middle East,
all the way to Asia. The speed of transactions
has become such an important variable
in the market economy, that faster algorithms
can make millions in a matter of milliseconds or can crash entire markets by triggering mass
defensive responses from automated computer systems. According to Marks,
the word on the street is that millions are
now calculated in milliseconds. The ripple effect was felt
all over the world
Full Transcript
00:00:01.000 --> 00:00:05.703
The Wall Street panic,
in my opinion, is over.
00:00:05.705 --> 00:00:07.406
It had to come.
00:00:07.408 --> 00:00:09.508
Stock speculation
had become crazy.
00:00:09.051 --> 00:00:13.112
There have been
dozens of stock-market crashes
00:00:13.114 --> 00:00:15.448
since the Wall Street
Crash of 1929.
00:00:15.045 --> 00:00:17.815
Although most brokers tend
to have a short memory,
00:00:17.817 --> 00:00:19.518
it was bound to happen again.
00:00:19.052 --> 00:00:21.719
Last week, after
Standard & Poor's downgraded
00:00:21.721 --> 00:00:23.788
America's credit rating
from AAA to AA+,
00:00:23.079 --> 00:00:26.358
the markets plunged
across the planet
00:00:26.036 --> 00:00:29.228
from the US to the Middle East,
all the way to Asia.
00:00:29.023 --> 00:00:31.023
The speed of transactions
has become
00:00:31.232 --> 00:00:33.565
such an important variable
in the market economy,
00:00:33.567 --> 00:00:35.007
that faster algorithms
can make millions
00:00:35.702 --> 00:00:37.767
in a matter of milliseconds
00:00:37.001 --> 00:00:39.103
or can crash entire markets
00:00:39.105 --> 00:00:41.173
by triggering mass
defensive responses
00:00:41.175 --> 00:00:42.074
from automated computer systems.
00:00:42.742 --> 00:00:45.511
According to Marks,
the word on the street
00:00:45.513 --> 00:00:48.312
is that millions are
now calculated in milliseconds.
00:00:48.314 --> 00:00:50.681
The ripple effect was felt
all over the world...
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Movie Summary
A pair of high-frequency traders go up against their old boss in an effort to make millions in a fiber-optic cable deal.
