Book exposing ‘rigged’ markets sparks debate

In today’s “rigged” US stock market, large investors such as Greenlight Capital are like “dumb tourists” led to a casino where the card games are fixed, according to Michael Lewis, whose book Flash Boys has touched off a national debate about high-frequency trading.

“It’s very clear people are being front-run,” Mr Lewis said.

David Einhorn, whose Greenlight Capital hedge fund manages billions of dollars, didn’t initially understand what was going on, Mr Lewis said. Mr Einhorn’s reaction when he learned: “Oh my God. This I did not know,” Mr Lewis said. Mr Einhorn declined to comment on Lewis’s analogy.