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In 45 Seconds, Michael Lewis Explains How The Stock Market Is Rigged

Joe WeisenthalMar 31, 2014, 16:31 IST

Michael Lewis' new book Flash Boys comes out today. It's all about the confusing world of high-frequency, algorithmic trading.

He was on 60 Minutes last night talking about the subject and promoting his book.

In this short segment, he argues that the stock market is rigged.

The first 45 seconds are the key part, wherein he explains the mechanism by which high-frequency traders get ahead of retail orders so as to inflate the price you have to pay for a stock.