DEAR DARKNET INFO SELLER< PLEASE TAKE MY INFO OFF YOUR SITE! THANK YOU! LOL PEOPLE PAY FOR THIS SHIT? PEOPLE RECOMMEND THIS SHIT? What a complete fucking scam.
The firms are the problem, and not the ones who make the rules for them? Or are they the same people? I bet they wear tiny hats and live in a tiny illegitimate country in the middle east too. How about you blame the real problem. A firm is not a person. People run the firms, they are the problem. People make rules for them. They are the problem. This is like blaming guns for killing people. Pathetic really.
Good ol' American injustice. Corporations doing unethical illegal things and we extradite a random individual and blame him for just beating companies at their own game. You're never safe unless you have sacred symbols and magic letters like "llc" to hide your crimes, then suddenly nobody can be arrested for the exact same crime. Rules and jail for thee not for we.
@@gsdtdeaux7yeah the fact that they used an llc as example kinda illustrates a little bit of extremist thinkin. Still, the big firns absolutely need to be checked
@@makingadjustments Nope. Just know more than you, clearly. Learn what shell companies and such are, and llc's and chains of such companies are part of the abuse and invulnerability. Just craft incentive structures to make others commit your crimes for you is just one of many easy ways crimes and perverse incentives go without punishment.
Very heartwarming story, I was appalled that the rich were being denied extracting more wealth with this horrid glitch. I'm glad that everything is back to normal and the rich can continue to extract more wealth and get richer
A company takes advantage of latency arbitrage = not a problem; let 'em make a money off of everyone else A person takes advantage of latency arbitrage = prison & fines; how dare he makes money at the expense of companies Sounds like America
Be realistic. These were people with no prior criminal record who committed a non-violent crime with low probability of recidivism and you think they should get life in prison? Theres people who commit rape and murder and don’t get life in prison.
i used to work in a call center in canada that did customer service for an american telecom company. that shit drove me insane. i worked there for 10 years and multiple times a day i'd get pegged as being canadian because of "aboot/aboat". mf'er you sound like my neighbor, i don't hear any difference in how i'm saying it compared to how you're saying it!
@@mariusvanc You should hear them say booger, or subwoofer. Its fucking hilarious. Its more closer to A Boat, than a Boot, but that would depend on location. They remove the OW sound that we add.
"Canadian"?not really. Its a group of people in Ontario that say about like that, not a whole country.(rarely heard on west coast) Its like thinking everyone in the US talks like people in New Orleans or sounds like Brooklyn or in the UK you expect everyone to sound like Gordies. 😊 Its an ignorant comment.
IEX still does not solve the problem. A simple and cleanest solution is to allow order cancellation after 5 secs upon bidding/asking. But then all the HFT, market makers will be destroyed.
Market makers shouldn't exist in secondary markets. The whole point is to 1) Allow disinvestment from primary markets 2) Provide valuation to the intangible stocks. If the valuation is not derived from a close to perfectly competitive market, then whats the point of the stock market in the first place.
Love this story, I remember when I got a contract with RBC for an M&A and heard about the THOR project. Really learned a lot on the network field after this and amazes me that there are still new methods being created with existing infrastructures.
I love this concept that they had to go slow to go fast. I think this is a really good example and lesson for anyone in business who's looking for an advantage that speed is not necessarily always the answer.
Forgive me Crumb, I’ve watched your videos for years and assumed I was subscribed, apparently I wasn’t… I have now corrected that and you deserve so many more views !!
@@Crumbbtw lately most of my previous subbed to channels I suddenly found to have mysteriously been unsubscribed to. This is the 2nd time I’m subbing to you now. Keep it up I’ll keep subbing!
I’m almost 37 as u get older u start to realize things … what being American is… I was recently in a car accident… I was rear ended while stopped at a red light . I was not at fault … literally everyone I know including family my own mom told me to say I’m hurt … I was not hurt so I said that’s fraud … but how would they know … what would have happened is I would have probably gotten maybe 6 7 thousand dollars… I didn’t do it though … I like to think I have morals I guess … I think hitting women is wrong but u shouldn’t also serve them if that makes sense … idk ..what I learned is being American is all about exploiting loopholes and playing legal games … basically being a criminal… maybe this is why I never broke it rich
Guy saying you don't immediately know is right. I was in an accident when I was 12, our car rear-ended. I didn't have back problems until I was mid 30s. Docs treat me for insane pain and they say this wasn't recent this looks like you've been sitting on it since you were a teen. The damage was done, but, pain didn't manifest until I was 34. I don't know about lying, but, are you sure NOTHING hurts? My surgery cost me over 40k. That 6 or 7 would've helped.
@@jueue2964 so it would be appropriate to peruse legal action for u then after all the time has passed …. How would u prove it was the accident that causes ur pain … I don’t think it would pan out in court and I don’t agree with just suing everyone just in case
@erickotapish7842 I have hospital paperwork of the accident and the month I spent in the hospital to recover. Current doctors reviewed all my stuff and agreed it is from then. Saying that isn't the cause and something else is, wouldn't you need to prove it was something else and not the documented case, of which the current doctors agree it was that event? I mean, if you're suggesting it's exacerbated by me playing football and rugby, I wouldn't disagree, but, you prove it wasn't my accident that is documented and doctors agree it was it, and that it was something else. I'm not and wasn't suggesting suing everyone. I didn't sue the person (I was young anyway but my family isn't like that). But, suffice to say, it caused my back problems and cost me 40k in a surgery. I'm not looking for anything, I paid and moved on. Just a warning to others. You may feel okay now, but stuff changes. That 6 or 7k could help a big bill in a couple years.
@Crumb was surprised you didn’t include a legendary live debate that was on cnbc between Brad, Micheal Lewis and the chairman of the BAT exchange (who was in the pockets of High frequency traders). Still loved you’re video!
I actually work in high frequency trading, great video. Keep in mind this was the tech in the early 2010’s and even today it consider advanced. In 10 years we will look back at the 2025 technologies and probably come to the same conclusion.
After watching your video I guess most of your information is from Michael Lewis or from Brads talk that you mention so: please please have a look at Flash Boys : Not So Fast. Brad sends large market orders to multiple exchanges, what do you expect to happen? Assume you're the counterparty, if you know someone is buying so much that the price will rise, why would you sell? You would have to be willing to take a known loss. If the expected loss doesn't cover the rebate you get you need to get out of the way. Its just a very dumb way to trade especially with client funds. He was payed to get money in and out of assets and just hammered market orders acting surprised why the liquidity was gone on other exchanges once the first order hit. This isn't so much a "predatory" practice as it is a natural market response to large, obvious order flow.
That was an abrupt ending, lol Thanks for sharing this. Its insaine how few people know abiut this STILL! I have talked to people that have a LOT of money in investments for decades, who still didnt understand it whatsoever. Its all just gambling, though. Luckiky I have never found gambling with to be any fun, I dont get it, I tried, just not enjoyable. I have even done very well! I have gambled about $400 in my life, and have won about $10k. I quit as soon as Im ahead and dont look back.
@Crumb was surprised you didn’t include a. legendary live debate on cnbc between Brad, Micheal Lewis and the chairman of the BAT exchange (who was in the pockets of High frequency traders).
Very well-made video! It would’ve been interesting though to hear your take about how the same principle is still abused today on the crypto financial systems. The term they use for it is “sandwich attack”.
@@CrumbThere was a recent case where 2 brothers tricked bots abusing sandwich attacks. The brothers are “Anton and James Pepaire-Bueno”, you might find articles about them interesting. 😁
@@Crumb well, it would be too much to write, but in general the issue is the oversimplification, just go deeper in you key elements and the people involved. Again its a great video and it got me looking for more info, sadly l got hooked on this new Chinese AI app called DeepSeek that cause Nvidia stock to crash.
@@Crumb well, it would be too much to write, but in general the issue is the oversimplification, just go deeper in you key elements and the people involved. Again its a great video and it got me looking for more info, sadly l got hooked on this new Chinese AI app called DeepSeek that cause Nvidia stock to crash.
@@Crumb well, it would be too much to write, but in general the issue is the oversimplification, just go deeper in you key elements and the people involved. Again its a great video and it got me looking for more info, sadly l got hooked on this new Chinese AI app called DeepSeek that cause Nvidia stock to crash.
Most of this was common knowledge in the industry during that era. It just was never regulated until the Billionaire's weren't making the same returns. It turned out to be a loose-loose situation for those guys, cause regulation can't stop the speed of data transfer
Take your personal data back with Incogni! Use code CRUMB at the link below and get 60% off an annual plan: incogni.com/crumb
First
Post more 💔
22:01 "Wrose" instead of "worse" on screen. 🤭
Its a zign
DEAR DARKNET INFO SELLER< PLEASE TAKE MY INFO OFF YOUR SITE! THANK YOU!
LOL
PEOPLE PAY FOR THIS SHIT?
PEOPLE RECOMMEND THIS SHIT?
What a complete fucking scam.
Doesn't it enrage anyone else that the firms themselves never get in trouble, even though they are the *real* problem?
its a free market, why would you get in trouble for trading?
And it's ok to make illegal money if they pay 5% fines? I don't understand why the system doesn't take this issue by the horns.
The firms are the problem, and not the ones who make the rules for them? Or are they the same people? I bet they wear tiny hats and live in a tiny illegitimate country in the middle east too. How about you blame the real problem. A firm is not a person. People run the firms, they are the problem. People make rules for them. They are the problem. This is like blaming guns for killing people. Pathetic really.
I think deepseek was Chinas was of saying “perhaps the tyrants are the system itself”.
@@pauls5745that is because they own the system... criminals everywhere. Why would they punish themselves. They only do the bare minimum
Good ol' American injustice. Corporations doing unethical illegal things and we extradite a random individual and blame him for just beating companies at their own game. You're never safe unless you have sacred symbols and magic letters like "llc" to hide your crimes, then suddenly nobody can be arrested for the exact same crime. Rules and jail for thee not for we.
$100 and you can your own llc lol well in my state at least
@@gsdtdeaux7 Son I think you missed the point by so much you got lost someplace in China.
@@gsdtdeaux7yeah the fact that they used an llc as example kinda illustrates a little bit of extremist thinkin. Still, the big firns absolutely need to be checked
@@makingadjustments Nope. Just know more than you, clearly. Learn what shell companies and such are, and llc's and chains of such companies are part of the abuse and invulnerability. Just craft incentive structures to make others commit your crimes for you is just one of many easy ways crimes and perverse incentives go without punishment.
Crazy that the US tried to blame a retail trader and not the scumbags who have been ripping off the little guy forever.
Frfr, poor Navinder
Similar to the Meme stock in 2021
Crazy? The US is run by the guys ripping off the little guys. They call this place Israel home. have you heard of it?
Imagine being so good at trading that Wall Street has to literally rewrite the rules of the game to beat you.
dfv
That's better than what they usually do.
Not so much trading as it was his deep understanding and passion for fair digital markets
More like so good at gaming the system that others are gaming they have to change the rules.
@@JamWellMotoFfs shit up. You can't be good at passion. You're a pest
Fun part about computer software is that it always does what you tell it to do. However, what you tell it to do is not always what you want it to do.
It’s amazing
The irony in that Navinder played wallstreet at their own game and got arrested for it
I love how my years of random financial knowledge is all coming together in this video.
This still clearly happens, at least with retail orders. Apparently they only “fixed” the issue for institutional traders.
everytime i hit buy it filled way higher everytime i hit sell, it sold alot lower
Very heartwarming story, I was appalled that the rich were being denied extracting more wealth with this horrid glitch. I'm glad that everything is back to normal and the rich can continue to extract more wealth and get richer
Damn.
Not heartwarming for the British autistic guy. I'd say it's pretty dystopian
A company takes advantage of latency arbitrage = not a problem; let 'em make a money off of everyone else
A person takes advantage of latency arbitrage = prison & fines; how dare he makes money at the expense of companies
Sounds like America
Corruption and greed at its finest
Shares bought for pennies on the dollar during the Flash Crash were not recognized by the SEC the very next day. Who's the crook now?
The fact responsible individuals didnt end up with life in prison is preposterous
They never do
Be realistic. These were people with no prior criminal record who committed a non-violent crime with low probability of recidivism and you think they should get life in prison? Theres people who commit rape and murder and don’t get life in prison.
@@Bobbbybags You do not know how many lives they ruined indirectly.
@@Bobbbybags i mean they sure as hell are happy to give way less rich and influential people said treatment. the world revolves around the rich sadly
great work pivoting the content to something super interesting but still maintaining a high level of technical details!!!!
fantastic video!!!
That was the most Canadian "about/abooot" I have ever heard in my life.
i used to work in a call center in canada that did customer service for an american telecom company. that shit drove me insane. i worked there for 10 years and multiple times a day i'd get pegged as being canadian because of "aboot/aboat". mf'er you sound like my neighbor, i don't hear any difference in how i'm saying it compared to how you're saying it!
I have never heard anyone say "aboot" in Canada. Is this some urban legend?
Me either until 5:33
@@mariusvanc You should hear them say booger, or subwoofer. Its fucking hilarious. Its more closer to A Boat, than a Boot, but that would depend on location. They remove the OW sound that we add.
"Canadian"?not really. Its a group of people in Ontario that say about like that, not a whole country.(rarely heard on west coast) Its like thinking everyone in the US talks like people in New Orleans or sounds like Brooklyn or in the UK you expect everyone to sound like Gordies. 😊
Its an ignorant comment.
This would've been cool to be a part of. But just reminds me that anyone trying to be a day trader from Cancun has absolutely no shot
An actually good guy working in Wall Street. And they said it was a myth.
He posts banger after banger after banger every single time, keep up the amazing work, Crumb!
Remember reading about this when it happened. You've done a great job of breaking something extremely complex into a digestible video.
A Canadian and the Royal Bank of Canada seem to be the only ones trying to make the US (NY) stock exchange honest for everyone
IEX still does not solve the problem. A simple and cleanest solution is to allow order cancellation after 5 secs upon bidding/asking. But then all the HFT, market makers will be destroyed.
Spreads will be alot wider if that is the case
Market makers shouldn't exist in secondary markets. The whole point is to 1) Allow disinvestment from primary markets
2) Provide valuation to the intangible stocks.
If the valuation is not derived from a close to perfectly competitive market, then whats the point of the stock market in the first place.
Love this story, I remember when I got a contract with RBC for an M&A and heard about the THOR project. Really learned a lot on the network field after this and amazes me that there are still new methods being created with existing infrastructures.
24:31 just the fall guy
I've been binge watching your channel-each one has been better than the last!!
Thank you :)
@5:32 just a boot
Buddy just straight keeping sterotypes alive
I love this concept that they had to go slow to go fast. I think this is a really good example and lesson for anyone in business who's looking for an advantage that speed is not necessarily always the answer.
This was fascinating. Excellent production
Thank you, Brad
Been with you a few years now, and the quality of your content is mind-blowing. Great video, keep it up!
@@absolootdisaster1060 cheers man :)
this is an abolute banger crumb you need more subs and interaction bro fr
This vid was crazy, new sub !
Reminds me of the gamestop thing when the regulators were like it's illegal when normal people band together but not big stock traders..
Being fast is not a crime. Manipulating the market is.
Forgive me Crumb, I’ve watched your videos for years and assumed I was subscribed, apparently I wasn’t… I have now corrected that and you deserve so many more views !!
Thank you king!
This comment reminded me to subscribe, thank you
@@Crumbbtw lately most of my previous subbed to channels I suddenly found to have mysteriously been unsubscribed to. This is the 2nd time I’m subbing to you now. Keep it up I’ll keep subbing!
I intend to become someone like Brad in the field of finance
maaad respect for him now, for this detail
Blaming the autistic man living at home when the large companies were to blame is appalling
Thank you Brad
Great video Crumb 👑
Love the way you edit
Infuriating. Graduated in 2009. Shaped by it. I don’t think it’s ever going to change.
All orders should go to a central point without being publicised and then be finalized every second or so, removing all latency advantages.
5:34 "Just aboot"
I see what you did there
Now time to investigate the Grand Exchange!
This is just insane... I can't even find the word to describe how I feel about all this.
When you said just a bout I lost my sh*t
Wait how could they charge Navinder? What did he do that was actually illegal?
It’s illegal to place orders that you don’t want to get executed. It’s considered market manipulation.
Exactly what @OMGclueless mentioned. Its also very different to the strategy that Brad describes. Layering != Latency arbitrage ("Front Running")
This is awesome. Thanks for the work you put into this
Brad is not part of the tiny hat club. Thank you Brad.
and I would have gotten away with it too if it weren't for you meddling Canadians
Always those pesky Canadians!
It's funny how the most reliable solution for this issue are huge spools of cable
I’m almost 37 as u get older u start to realize things … what being American is… I was recently in a car accident… I was rear ended while stopped at a red light . I was not at fault … literally everyone I know including family my own mom told me to say I’m hurt … I was not hurt so I said that’s fraud … but how would they know … what would have happened is I would have probably gotten maybe 6 7 thousand dollars… I didn’t do it though … I like to think I have morals I guess … I think hitting women is wrong but u shouldn’t also serve them if that makes sense … idk ..what I learned is being American is all about exploiting loopholes and playing legal games … basically being a criminal… maybe this is why I never broke it rich
The issue is that you won't always know immediately what the damage is from blunt force trauma
@ so sue everyone that crashes into u just in case … idk
Guy saying you don't immediately know is right. I was in an accident when I was 12, our car rear-ended.
I didn't have back problems until I was mid 30s. Docs treat me for insane pain and they say this wasn't recent this looks like you've been sitting on it since you were a teen.
The damage was done, but, pain didn't manifest until I was 34.
I don't know about lying, but, are you sure NOTHING hurts?
My surgery cost me over 40k. That 6 or 7 would've helped.
@@jueue2964 so it would be appropriate to peruse legal action for u then after all the time has passed …. How would u prove it was the accident that causes ur pain … I don’t think it would pan out in court and I don’t agree with just suing everyone just in case
@erickotapish7842 I have hospital paperwork of the accident and the month I spent in the hospital to recover.
Current doctors reviewed all my stuff and agreed it is from then. Saying that isn't the cause and something else is, wouldn't you need to prove it was something else and not the documented case, of which the current doctors agree it was that event? I mean, if you're suggesting it's exacerbated by me playing football and rugby, I wouldn't disagree, but, you prove it wasn't my accident that is documented and doctors agree it was it, and that it was something else.
I'm not and wasn't suggesting suing everyone. I didn't sue the person (I was young anyway but my family isn't like that). But, suffice to say, it caused my back problems and cost me 40k in a surgery.
I'm not looking for anything, I paid and moved on. Just a warning to others. You may feel okay now, but stuff changes. That 6 or 7k could help a big bill in a couple years.
imagine you earn billions of dollars and then get busted by one lonely guy
"earn" is a bit of a stretch lol
@@Rock_Appreciator im going to stretch you
@ 😉
There is a great book called Flash Boys about Brad and this loophole
Brad you're a Legend hats off to you
Same tech is used on a mass scale on solona with something called MEV didn't know this originated from stocks.
Thank you BRAD
Funny thing is that IEX is now the most algo filled exchange lol
For in depth info read „Flash Boys“ by Michael Lewis.
4:27 SAC capital WAS one of the world's largest hedge funds but then they got caught insider trading.
Classic
That’s funny, I was just sitting here last night saying to myself “self, I haven’t see a new crumb video in a while.”
We back :)
Wtf RUclips? I’m a day late and I have notifications on?!
did this video get striked or something? it's only at 30k views at this point but that's so unusual for a Crumb video
Forget ping, this is the bleeding edge of real time operating system territory.
@Crumb was surprised you didn’t include a legendary live debate that was on cnbc between Brad, Micheal Lewis and the chairman of the BAT exchange (who was in the pockets of High frequency traders). Still loved you’re video!
I actually work in high frequency trading, great video. Keep in mind this was the tech in the early 2010’s and even today it consider advanced. In 10 years we will look back at the 2025 technologies and probably come to the same conclusion.
Meanwhile nakedshort sellers is a massive issue
22:00 "wrose" lol
These docs are reaching Netflix level quality for me
It's not that bad.
22:00 "wrose" 😭
These scam bags made 0.06% on your trade!
That means every $1,000 trade they made an astounding $6
...$6 is 0.6% of $1000, not 0.06%.
@@XIceZeroX Thank you, I thought $6 was high!
60 cents per $1,000 trade makes more sense
After watching your video I guess most of your information is from Michael Lewis or from Brads talk that you mention so: please please have a look at Flash Boys : Not So Fast.
Brad sends large market orders to multiple exchanges, what do you expect to happen? Assume you're the counterparty, if you know someone is buying so much that the price will rise, why would you sell? You would have to be willing to take a known loss. If the expected loss doesn't cover the rebate you get you need to get out of the way. Its just a very dumb way to trade especially with client funds. He was payed to get money in and out of assets and just hammered market orders acting surprised why the liquidity was gone on other exchanges once the first order hit. This isn't so much a "predatory" practice as it is a natural market response to large, obvious order flow.
Just make exchanges have 10second refresh system where orders are queued and reflect after refresh
Amazing video, absolutely loved it, love all your content man! 10/10
22:00 "But it was about to get a whole lot wrose..." Am I the only one who caught that?
22:00 'about to get a whole lot "wrose" '
That was an abrupt ending, lol Thanks for sharing this. Its insaine how few people know abiut this STILL! I have talked to people that have a LOT of money in investments for decades, who still didnt understand it whatsoever. Its all just gambling, though. Luckiky I have never found gambling with to be any fun, I dont get it, I tried, just not enjoyable. I have even done very well! I have gambled about $400 in my life, and have won about $10k. I quit as soon as Im ahead and dont look back.
@Crumb was surprised you didn’t include a. legendary live debate on cnbc between Brad, Micheal Lewis and the chairman of the BAT exchange (who was in the pockets of High frequency traders).
Deserves way more views
22:01 WROSE
22:01 worse :P Found a small typo. Great video nonetheless
22:01 “WROSE”
But god forbid a group of people wanted shares of gamestop.
if w/o this vid/information on it i wouldn’t have know such (scammy) thing exist
Very well-made video!
It would’ve been interesting though to hear your take about how the same principle is still abused today on the crypto financial systems. The term they use for it is “sandwich attack”.
Thanks! I'll need to look into this :-)
@@CrumbThere was a recent case where 2 brothers tricked bots abusing sandwich attacks. The brothers are “Anton and James Pepaire-Bueno”, you might find articles about them interesting. 😁
unironically miss the runsecape videos
but another great production!
this is a great video, but it left out so much details that at the end leaves you asking a lot of questions
Oh no! I thought I closed all the open narrative threads, what did I miss?
@@Crumb well, it would be too much to write, but in general the issue is the oversimplification, just go deeper in you key elements and the people involved. Again its a great video and it got me looking for more info, sadly l got hooked on this new Chinese AI app called DeepSeek that cause Nvidia stock to crash.
@@Crumb well, it would be too much to write, but in general the issue is the oversimplification, just go deeper in you key elements and the people involved. Again its a great video and it got me looking for more info, sadly l got hooked on this new Chinese AI app called DeepSeek that cause Nvidia stock to crash.
@@Crumb well, it would be too much to write, but in general the issue is the oversimplification, just go deeper in you key elements and the people involved. Again its a great video and it got me looking for more info, sadly l got hooked on this new Chinese AI app called DeepSeek that cause Nvidia stock to crash.
Meanwhile flipping bots at GE dream of getting into the New York stock exchange
Proof that sector provides no actual value.
Me who is full stacked Gamestop:
Lets gooouuu, cheers everyone wohooo
I can't blame them that dont want to work there, I was a customer and left cause all the criminal shit they do
What a great story. Unique and not covered before.
A group of “small time” traders got blamed for the covid oil futures crash too. It’s sick. I say small time like 50m aum is small lol.
I WAS BORN IN THE WRONG PLACE AT THE WRONG TIME TOT
Most of this was common knowledge in the industry during that era. It just was never regulated until the Billionaire's weren't making the same returns. It turned out to be a loose-loose situation for those guys, cause regulation can't stop the speed of data transfer
Lose lose
Lose lose so . Fool
Not even kidding I got incogni after all the ads and I love it
Crumb im begging you to delve into Dr Susanne Trimbathe and the Failure to Deliver problem.
I'm still not over gamestop and what they did to my boy.
21:59 u misspelled “worse” as “wrose”
what's the song at 4:10 ??
Aww poor kid, his mom just had called him down for dinner... Nothing like a meal mas makes
22:01 WROSE