Dark Pools Audiobook By Scott Patterson cover art

Dark Pools

The Rise of the Machine Traders and the Rigging of the U.S. Stock Market

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Dark Pools

By: Scott Patterson
Narrated by: Byron Wagner
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About this listen

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
Analysis & Strategy Computer Science Economics Politics & Government Stocks Data Science Machine Learning Stock Market

What listeners say about Dark Pools

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Good introduction to high speed trading

I listened to it last summer and enjoyed it very much. Would recommend it to anyone interested in knowing high speed trading.

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  • Overall
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Think you understand Wall Street? Guess again

High-speed trading has revolutionized the stock market over the last 10 years and brought with it a whole array of risks, including flash crashes. And it could get worse as the computer-driven system becomes increasingly autonomous and too complex for people to understand.

This book tells the story of how it happened.

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Almost a history of high frequency trading

I was expecting to learn explicitly about dark pools. I did. But there is so much more! The cast of characters. The innocence of youth and brains. The hubris of old wealthy men.

I’d listen again.

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Eye opening and must read!

This book highlights a lot of the problems with today’s stock market. It shows how far we’ve come with technology but unfortunately how simple it is for it to come off the rails. While the book is very interesting and entertaining, it provides concrete evidence how the game is rigged. They explain how current piping of the market makes a sucker out of the buyer and the seller at the same time. A must read!

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Great insight into the securities trading world

A great explanation about the evolvement, modernisation and operation of securities trading. The audiobook is easy to listen to and understand.

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Like after watching Jaws...you won't get back in

If you've been following stock market news in the 21st century then you're well aware of the massive swings that have been happening. After listening to this book you'll be well aware that an individual stock investor is gonna get creamed. Written much like the Big Short, Patterson chronicles a handful of quant characters through their careers. Some technical street and computer jargon but not enough to turn me off. Even though people have life vests, flippers, oxygen masks, etc. they're not getting back in for a reason...maybe not even with a bigger boat.

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So good

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

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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

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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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Not an easy digest. A Must for Investors

Where does Dark Pools rank among all the audiobooks you’ve listened to so far?

A great listen. The characters in the story have some amazing stories. Interesting moto was that a problem was identified. Then that problem was resolved with a solution. A genuine solution. And then the genuine solution warped into a problem too. Just like the ultimate truth, there's no ultimate solution

Who was your favorite character and why?

Josh Ravine - hands down.

Which scene was your favorite?

Stories about Josh Ravine

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