I am currently listening to the audiobook version of "Flash Boys" by Michael Lewis, which tells the latest story of how the world has been ripped off by big Wall Street interests, this time by "front-running" high frequency trades. Front-running is the unethical practice of using client information in order to enrich oneself by investing ahead of the client. High frequency trading as it is practiced by the major players on Wall Street has created a high tech opportunity for the big Wall Street banks and wealthy private interests to "game" the system.
The book and the story below focuses on Brad Katsuyama, the unlikely hero who uncovered this front-running conspiracy and developed an ethical workaround that promises to restore fairness to the system. For Charles Green, the author of the article and the founder of Trusted Advisor Associates, Katsuyama represents what's missing on Wall Street: trust. I'll add that Katsuyama's story about forgoing his own financial wealth in order to "contribute" to a fairer system and the greater good is a "True Wealth" story.
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