What Should Michael Lewis’s Next Book Be About?

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

April 3 (Bloomberg) -- “Flash Boys” Author Michael Lewis and IEX President and CEO Brad Katsuyama discuss trading, the markets and their future plans on Bloomberg Television's “Bloomberg Surveillance.” (Source: Bloomberg)

His "flash boys." brad katsuyama with iex is with us.

Michael lewis, you wrote a few years about -- a few years ago about the original sin of ireland.

What was that?

The biggest mistake they made was decided to take on the liability of the bank, the governor -- the government to take on the liability of the bank.

They should have let the bondholders and the banks lose money.

They did not do that.

They tossed the liabilities on the backs of the people.

To their credit, they have suffered well.

They have put up unbelievable suffering in a way that most other countries have not.

But i think it was unfair what happens there.

Brad katsuyama, you are starting up your own exchange in the u.s. to counter some of the advantages high trading firms have.

Have you gotten demands or requests for expanding to europe?

We have, and we have gotten a lot of -- six or seven months ago we started getting inbound calls at different markets, different asset classes.

We are looking at things.

We are still a startup, so limited capital.

I am a guest host, right?

So why would the iex model be in demand?

I am getting calls from europe, too.

Why would iex be in demand in europe?

What markets are similar to the u.s. stock market in this structure?

Some of the similar characteristics you have seen -- fragmentation, a bunch of different things, intense competition.

If you export that business model to other regions, it exports some of the same inefficiencies we have seen in the u.s. it is a matter of the solution we have built here would work elsewhere where those same inefficiencies exist.

Within the yelling and shouting -- there is no yell a -- no yelling and shouting here.

I think you for that.

The key thing for the book is the distrust.

Names like ambush at nighthawk and rader -- raider and architect and sumo.

Michael lewis, how am i supposed to trust wall street if i think it is a wargame?

What am i supposed to say?

You are not.

The reason all that stuff exists is because the markets are not to be trusted.

Is it still there in 2014? the algo wars.

Yes.

We called our prop for -- we called our prop thor.

Naming tactics -- i think what we have seen in the last three days, it has been incredible.

We have gotten thousands of messages about people calling to say thank you and people saying, facing the markets, etc.

Do we have twitter answers?

We do.

Huge responses.

Let's get to some of the answers.

The question was, what should michael lewis wright his next book on?

"i would like michael lewis' next book to be on the vampire squid, goldman sachs." can we show the picture of michael lewis' reaction to that response?

"bitcoin and lift the veil of its scarlet pimpernel founder." "the entrepreneurial advantage of bartenders and waitstaff in the yankee stadium diamond club." that would be a good book.

When was the last time michael lewis really wrote up washington?

I did one on the 1996 presidential campaign, but no one wanted to read it.

It was interesting up to a point.

It is very hard to deal with subjects who will not tell you the truth, so washington is so difficult to deal with in that way.

I went in and moved into obama's life, and i did it because i felt like i was getting something very real.

I just -- i don't know.

There are plenty of people calling over washington, right?

Who needs me?

There are people asking you to get back into the industry that you just trashed.

Is anyone asking you to get back into the high-frequency trader?

It is very interesting.

Who knows?

A shameless plug for esther could see, -- for mr.

Katsuy ama's firm.

Brad, thank you so much.

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change