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Publisher's Summary

A news-breaking account of the global stock market's subterranean battles, Dark Pools portrays the rise of the "bots" - artificially intelligent systems that execute trades in milliseconds and use the cover of darkness to out-maneuver the humans who've created them.

In the beginning was Josh Levine, an idealistic programming genius who dreamed of wresting control of the market from the big exchanges that, again and again, gave the giant institutions an advantage over the little guy. Levine created a computerized trading hub named Island where small traders swapped stocks, and over time his invention morphed into a global electronic stock market that sent trillions in capital through a vast jungle of fiber-optic cables.

By then, the market that Levine had sought to fix had turned upside down, birthing secretive exchanges called dark pools and a new species of trading machines that could think and that seemed, ominously, to be slipping the control of their human masters.

Dark Pools is the fascinating story of how global markets have been hijacked by trading robots - many so self-directed that humans can't predict what they'll do next.

©2012 Scott Patterson (P)2012 Random House Audio

What members say

Average Customer Ratings

Overall

  • 4.5 out of 5.0
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Performance

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Story

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  • Overall
  • Performance
  • Story

So good

Better than flashboys. They're both good but I enjoyed this book after reading Lewis's book

  • Overall
  • Performance
  • Story

Good, not quite great

Good details, but not as good as The Quants or Flash Boys or When Genius Failed in terms of the storyline.

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  • Story

Great book!

Fantastic research and great storytelling. Lays bare how Wall Street can rip-off average investors. Now what I'd like to see is the sequel.

  • Overall
  • Performance
  • Story
  • Roger
  • Orlando, Florida United States
  • 05-05-15

Beyond Flash Boys

If you read Michael Lewis' "Flash Boys" you were introduced to the high frequency trading world. But that book left out a lot of the details and covered none of the history. This book will explain how the current, computer driven stock market came from and fill in the details on how it works. Fascinating and dangerous.

  • Overall
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Great listening

I really enjoyed this book. It was a good history/overview of how the markets have changed. The content was great and the narration was excellent.

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  • Story

Very very very good audio book.

Very informative book and definitely a book you have to listen 2 more than once. I just wanted him to discuss the different types of orders and how are they looked that in the process. I feel like he touched on the subject but I would have like more info on routing and order types.

  • Overall
  • Performance
  • Story

No ending?

This didn't really seem to have an ending. It just sort of stopped. The author was overly fond of some phrases - he would use the same phrasing again and again throughout the book, giving it a repetitive feel. I did learn a lot and the author managed to make a very dense, complicated subject understandable, hence the rating I did give.

It was worth listening to once, but never again.

  • Overall
  • Performance
  • Story

required reading

required reading for stock market professionals - illuminating perspective and insights on a quiet and misunderstood revolution in the underlying framework of how stock markets behave and work

  • Overall
  • Performance
  • Story

Author needs to check his facts.

What disappointed you about Dark Pools?

The author didn't correctly depict the charges and arrest of the programmer from Goldman Sachs, as I listened I made the assumption he doesn't know what he is talking about. He also made a reference to a" Lamborghini Testerossa" last I checked those cars are made by Ferrari.

Would you ever listen to anything by Scott Patterson again?

No

What about Byron Wagner’s performance did you like?

The narrator was Good.

If you could play editor, what scene or scenes would you have cut from Dark Pools?

The description of the details and intent of the Goldman programmer that was arrested.

  • Overall
  • Performance
  • Story
  • MG
  • San Francisco, CA
  • 01-22-13

Not factual

What disappointed you about Dark Pools?

Patterson makes the reader feel that they are on a behind the scenes tour of Wall Street. Unfortunately, it is more fiction than fact.

Would you be willing to try another book from Scott Patterson? Why or why not?

No, after completing this book and then going back reading the reviews for "The Quants" it is clear that Patterson relies on hyperbole instead of research.

What didn’t you like about Byron Wagner’s performance?

Byron Wagner put an exclamation point at the end of every sentence, as if every paragraph was detailing a scandal on the order of Watergate. If you listen to more than ten minutes of this, it sounds downright silly, particularly as Patterson waffles between inconsistent conclusions.

If you could play editor, what scene or scenes would you have cut from Dark Pools?

I would have sent the book back for further research.

Any additional comments?

The story of Josh Levine and the rise of Island is mostly true, however the rest of the book is speculative and misguided.