NEWS NEWS NEWS! We have a vpro documentary, Telegram channel! Check it out for new uploads, spread the word and join! 😉 t.me/vpro_documentary
@CaseyC1048 жыл бұрын
"You could go out for a cup of coffee, come back and find you lost a billion dollars. That would ruin your day." That quote is the best thing I've heard in a long time.
@sgt76 жыл бұрын
That would be the most expensive coffee in history.
@Jatin199025 жыл бұрын
me too.
@ktolwal5 жыл бұрын
Aliens did it, how is it that no one figured it out
@KeithFlint3505 жыл бұрын
and the key word here is DAY
@Tampa01234567895 жыл бұрын
But isn't it two way street? You could go to lunch and then return a lot wealthier.
@FutureStoics5 жыл бұрын
I feel sorry for all those stop losses that got stopped out in that flash crash
@Skim268 жыл бұрын
When an SEC agent is an ex trader from the Lehman Brothers... no wonder they want to strictly follow the no disclosure laws.
@rambow706 жыл бұрын
A lot of government regulation has by nature a "conflict of interest". The only way to get people who really know the industry well enough to regulate it is by hiring those who have worked in it their entire lives. Judges are old lawyers, secretaries of treasury are ex-Goldman Sachs executives, and SEC agents are like you mentioned ex Lehman Brothers. It stinks but it is everywhere and it makes sense to a level of why it is but I agree, maybe it should change, these are the real conversations that need to be on the news.
@bluemeriadoc5 жыл бұрын
Also, it's the law
@Wamsuo58u5 жыл бұрын
@@rambow70 you don't need to work in those industries to understand how they work though. It's just corruption.
@JohnDoe-sp3dc4 жыл бұрын
That sort of private to public transfer is a huge problem in America. I mean why the fuck do we have Ajit a fucking former Verizon employee now working as the head of the FCC who should be regulating Verizon? It's asinine.
@451degreesF10 жыл бұрын
This is a brilliant documentary, I love the visual style and the balanced selection of speakers...
@greigsanderson96737 жыл бұрын
I wish there was more amazing clips like this on KZbin. Love them
@TheAverageJoeee10 жыл бұрын
the mysterious "major investment bank" is goldman sachs for those who are wondering
@vprodocumentary6 жыл бұрын
We didn't say that.
@crillin6665 жыл бұрын
My sides are hurting from laughter after reading that
@8118is89 жыл бұрын
I was trading when the flash crash took place. words cannot describe how flashly it was
@NOVAsteamed5 жыл бұрын
Were you working at a bank? How did people react and what did they do at the moment?
@jgfunk5 жыл бұрын
kzbin.info/www/bejne/e2LbooaQrp6Saqs
@sagarpatel26304 жыл бұрын
Obviously u hadn't seen typical interventions of central bank of Japan on USDJPY.
@fitnesspoint20065 жыл бұрын
This Hundsader character is like 1000x smarter than anyone over at the special team created by the SEC
@infiltr80r5 жыл бұрын
SEC has smart people. They're just corrupt.
@richardclarke3765 жыл бұрын
I'll never forget it: I was sat as usual coding when all of a sudden I heard shouting from the traders. I thought one of them had a heart attack or something. Then my screen lit up with alerts. Wow.
@b.l.m24275 жыл бұрын
Interesting , you thought someone had a heart attack.
@whitesky189 жыл бұрын
Such a well done program - I had to subscribe!
@taylorfischer59219 жыл бұрын
Look at that crappy parking job at 31:39
@yoyi45987 жыл бұрын
must be my mum driving...
@edblair52536 жыл бұрын
The smoking gun
@parrotraiser65416 жыл бұрын
not only taking up 2 slots, but facing in the wrong direction.
@tremoo59875 жыл бұрын
Toyota Sienna knows no boundaries
@XzhiTBK5 жыл бұрын
He fixed his parking after the film got cut.
@DumbledoreMcCracken4 жыл бұрын
48:01 You are risking all your money, but if everything else collapses too, you're still risking all your money even if you aren't in the market. It is a Catch-22. You can't escape the risk.
@leggoego10 жыл бұрын
Imagine how rich you would be if you could have entered long at the bottom of the crash haha
@tradingquebec9435 жыл бұрын
gl with a 36 seconds delay
@XzhiTBK5 жыл бұрын
@@tradingquebec943 Hahahha. Try trading millions on Bitmex and having a 1 minute delay during big moves designed to fuck as many people over as possible.
@rtkevans5 жыл бұрын
I was trading the ES futures that day and learned that my broker, IB, busted a lot of arbitrage trades that day. Even if you think you won, at the end of the day the broker made sure you didn't cash out on the crash.
@Aaron5655 жыл бұрын
@@rtkevans since when is arbitrage illegal, and how can a broker decide what to execute? how did they take advantage of the flash crash?
@wntu45 жыл бұрын
Not rich at all. Trades were broken so...you gained nothing and you lost nothing.
@gintaras5811 жыл бұрын
thanks for uploading! Dutch people are very smart noticing small machinery pitfalls and able to present to everybody in such an easy to understand way...I subscribed for this channel...after watching this...
@alexcastro73395 жыл бұрын
"WE CAN'T STOP THE SELLING!!"... That dude is hilarious
@rtkevans5 жыл бұрын
That's Ben Lichenstein, but I heard he stopped squawking the S&P pit
@harrykanhura41785 жыл бұрын
So the machines' algorithms were proving each other to find their buy and sell limits?! What a brilliant engineer that wrote the script that found the trigger point at which got to push the others' algorithms to execute sell orders on the way down even at a loss!
@tedcarl53824 жыл бұрын
Understated comment!
@richsenyor66419 жыл бұрын
Rich ass professor double parking a van.... Priceless
@nolanmcdeezy90079 жыл бұрын
had to throw ass in there
@armv7-m6039 жыл бұрын
Anyone rich doesn't drive a chrysler minivan..
@edblair52536 жыл бұрын
That old piece of shift Toyota?
@eskimoto44175 жыл бұрын
cause hes a gangsta typer
@nonjabusiness43609 жыл бұрын
This is scary on so many levels...
@ferasalhati87138 жыл бұрын
Indeed...
@diogofarias18225 жыл бұрын
Why?
@Abdlnasr10 жыл бұрын
Startling documentary. Please keep these coming, you may well be documenting the end of life as we know it.
@bodyevolution85165 жыл бұрын
The group responsible for the crash is: Goldman Sachs. Evidence: 1300 Federal Blvd. Carteret, NJ is the building next to Nasdaq servers which belongs to Goldman Sachs. Why would they crash it? It was a sophisticated trading strategy: knowing that they are market movers and now with their advantage of having information before anyone else, they can theoretically and technically place trades so fast down that the other investment companies would think there’s a crash causing lesser sophisticated algos to do weird things such as sell at one cent, while being delayed in the data when the market moves up. The bottom line, Goldman Sachs just sold almost if not exactly at the peaks and bought at the bottom (a hundredth of one cent). Keep in mind, that it’s 2010, 2 years after the 2008 market meltdown. QE had just begun by the Fed in 2009 to save the global financial system... although the market regained most of its losses through 2009-2010, there was real uncertainty that QE wouldn’t work. So, it would make sense that hedge funds would head-fake one direction but then go the other. Investment company like Waddell & Reed has sophisticated algos that prevented them to lose so much wealth in 5 minutes, that’s why they were glad to hand over their data to figure out who bought their contracts only to be sold with fury. Goldman Sachs made billions in 5 minutes as their algos were set for a head fake, just sick. The SEC cannot by law disclose the culprit as Goldman Sachs and they are the market maker and dealer for US Government treasures. Laws harboring criminals, change it!
@watchfan893555099 жыл бұрын
What really stuns me is when Paul Wilmott said at the end of the film....
@BramStolk6 жыл бұрын
Indeed. Also what the quant said is surprising. Long term those +5% years add up, and more than make up for the rare -50% years. Someone so smart should know better.
@kecapmanis41918 жыл бұрын
I think one of the big mystery is how all those algo from different firms in play during the crash decided they reached equilibrium at the bottom and decided to rally, surprisingly to the roughly same level as before the crash happenned.
@suryabahubalendruni28178 жыл бұрын
+Kecap Manis imo it's the weirdest part of it all. it's not like all of the algo's these firms run are going to have code consistent with one another to handle this precise situation. very bizarre
@kecapmanis41918 жыл бұрын
Perhaps there was one dominant algo that caused the "turning point" and other algos thought the price has reached bottom and started to rally. Chaos Theory? Understandably the rebound is quite as fierce as the drop. I like to think of it as a stretched rubber band.
@gilmijar8 жыл бұрын
+Kecap Manis Not a mystery. Algorithms may be different, differently designed and executed, but the goal behind all is the same - save assets in the event of a crash. That is convergence and that's why they all seemed to rally. The next big thing will probably be an algorithm that handles a crash in such a way as to make profit (short sales?). The race is probably on right now, just no apparent winner just yet.
@rustalisin89508 жыл бұрын
+Kecap Manis No mystery.. had sloppy algos in 2008.. dumbass moves like pull out 500 contract at last market depth position ,, so it looks like a serious buy.. that strategy is easily picked up now,, my algo does it , an the computer laughs.. i dont have time to even look at it..Only diff is that i start a bank that is transparent, an believe me u cant have a bank without algo.\ The market wipes other institutions out .. thats why it went down that far, its no mystery when its War. Much improved on bullets , dont u think?
@thefowlyetti210 жыл бұрын
31:40 terrible parking :(
@BeatsPlanetMusic9 жыл бұрын
Awesome show, really enjoyed it
@SlothPossum6 жыл бұрын
who is that maniac announcer/commentator guy reacting to the crash, it's played throughout the documentary?
@MrNightWalkerz5 жыл бұрын
I think that is Jim Cramer from Mad Money. Its mostly good for entertainment, mainly from laughing at his antics.
@SerpentInside5 жыл бұрын
Economic news commentator for some major media crap.
@garrystoelk4585 жыл бұрын
It’s actually a KZbinr kzbin.info/www/bejne/lWPOdp2QiLKdbKs
@rtkevans5 жыл бұрын
His name is Ben Lichtenstein I think, he used to squawk the S&P pit at the CME.
@Penguin_of_Death4 жыл бұрын
@@garrystoelk458 Some is him, but Jim Cramer is definitely in there too
@nalind137 жыл бұрын
Awesome work vpro :)
@vprodocumentary7 жыл бұрын
Thank you so much! We really appreciate your feedback.
@Smith345679 жыл бұрын
Amazing how the "regulator" lol, was the only one who missed it, says it all really .....
@RobertoSantander9 жыл бұрын
this is the time of the year
@DrCruel10 жыл бұрын
Basically the practice of wholesale robbery has been automated.
@Penguin_of_Death4 жыл бұрын
Anyone else infuriated by that parking at 31:43 ?
@tejasvahalia5 жыл бұрын
Excellent documentary.....really insightful.
@vprodocumentary5 жыл бұрын
Thanks Tejas Vahalia!
@pikminlord3436 жыл бұрын
a great breakdown
@171TITO6 жыл бұрын
@4:28 that's a really sharp knife
@MyronGanes-jl2ot4 жыл бұрын
Now 2020 we're seeing the biggest crash since the 2008 market crash.
@HipHopBeatSource4 жыл бұрын
I was thinking the same thing
@eddyvideostar4 жыл бұрын
To Myron, Hip-hop, and community: The 2020 crash has gone viral with its virus akin to Chinese water torture. The markets going forward into April; will jiggle around, making traders believe there is temporary reprieve -- then, the *horsemen will hit the markets* and the global community continuously with more feather tickling wake up calls from the Most-High -- until the feathers turn to lead!
@Bitachon4 жыл бұрын
*Yes. Thank you Corona*
@ifukill75384 жыл бұрын
It's why we are here😊
@mikeblack91098 жыл бұрын
Quants are so smart, i admire them
@Idontgivechainsaw7 жыл бұрын
Good documentary.
@bluemeriadoc5 жыл бұрын
This is why we have Monte Carlo simulations. Also these guys missed out on a lot of upside since '09
@ziondarden22767 жыл бұрын
What is the name of the software being used at 7:00
@VR_Wizard7 жыл бұрын
46:30 When I heard that they use evolving algorithms to let the computers learn how to trade better that blow my mind. Maschine learning techniques made such great leaps in the last years it is clear to me that they use them for finance as well.
@grandami35936 жыл бұрын
Christoph G. .
@eskimoto44175 жыл бұрын
na they use em for porno not finance youre wrong brother jiu jetsu man
@SamuelHenrique-dp4md5 жыл бұрын
In summary it was very well planned by more than two big and laraged players.
@Spudst3r8 жыл бұрын
21:22 You can tell this guy is really good at his job.
@grandami35936 жыл бұрын
kenektik J
@tradebrah4 жыл бұрын
48:02 nice sentence to end on. However, there's a thing called a stop loss hahah
@firlifanzhich2367668 жыл бұрын
What a great documentary. Dank je wel vpro.
@Xdrakemanx10 жыл бұрын
Rishi Narang seems like the only person they've interviewed who's knowledgeable enough to speak intelligently about HFT. Wilmott, after all, is a mathematician, not a practitioner.
@manishsharma34087 жыл бұрын
vpro u r doing a awesome work. i really appreciate your work. Hope govt do something for such gamble a kind of cheating from investors.
@vprodocumentary7 жыл бұрын
Thank you for your message.
@bundleofperceptions13975 жыл бұрын
I think the flash crash was done on purpose as a way of demonstrating what would happen if AG Holder sought to prosecute financiers for the 2008 heist . . . I mean crash.
@tz42174 жыл бұрын
No
@DataJuggler4 жыл бұрын
This is why the stock market should be taxed 1/10 of 1 percent instead of personal or corporate income tax. The only group that wouldn't like this is high speed traders and IRS agents.
@LemonChieff5 жыл бұрын
Just imagine the scalpers who were shorting on that day with a take profit
@kennytheclown38596 жыл бұрын
Good stuff
@vprodocumentary6 жыл бұрын
Thank you! You might also like this one: kzbin.info/www/bejne/m5WVd4qEjNx4aas
@rambow706 жыл бұрын
Could you imagine if you by some freak luck placed a trade during the flash crash and your order was filled for pennys on the dollar? Or if you sold your position before the news broke, because it said the news lagged behind what the markets were doing, and got pennies on the dollar for your trade only to find out that the stock return to normal shortly after? Must have been a hell of a day.
@siyathemba46205 жыл бұрын
what the software they are using?
@michaelbasher4 жыл бұрын
This awareness is like code.
@aluisious10 жыл бұрын
This is an excellent video. I think it's interesting right at the end where all the guys involved say they don't own stocks. I think it was 2012 I came to the same conclusion, that the potential gains in stocks was not worth the huge risk. I keep all my former investment money in cash and only trade some options, infrequently, when I think the odds are stacked in the favor of the contract. It's gambling, but all stocks are gambling. At least I know it's gambling and wait for good odds.
@DataJuggler4 жыл бұрын
43:30 I think this guy would make a good actor.
@edosualdo10 жыл бұрын
Does anybody know how to spell the name of the guy who believes on high-frequency-trading (introduced at 9:22)?
@karllogan508410 жыл бұрын
Do you know who Paul Wilmott is??? The man is a living legend in finance. He is basically a god of quantitative analysis.
@traderlincolnmitchell97867 жыл бұрын
good video
@ralphwalters9068 жыл бұрын
A good piece of advice, listen well... 48:03
@no-rj2ez5 жыл бұрын
Navinder Singh Sarao no mention of him ?
@eviln00b695 жыл бұрын
12:35 weird seeing that I live right down the highway from that. Like 15 minutes tops.
@peterbradshaw80185 жыл бұрын
Larry Harris weote a nice short paper on this for the CFA.
@TENNSUMITSUMA10 жыл бұрын
7:56 'Steve jobs didn't die....' Hmm....
@nolanmcdeezy90079 жыл бұрын
its a conspiracy jk
@grandami35936 жыл бұрын
Y
@scholargnome11 жыл бұрын
This actually interesting. It could make or break whole industries. It is like a window to the trading of the richest companies making money off the less well off traders. It's frightening.
@JDono6410 жыл бұрын
Nice work.
@CodigoTrading4 жыл бұрын
¡Te felicito por el vídeo! Ha sido una inspiración para mi canal, donde acabo de colgar un vídeo hablando de los Flash Crash ¡Pásate si te puede interesar! Saludos
@Asist0ne4 жыл бұрын
Now to work on the biggie/smalls crash of 3/09/2020 because of corona virus.
@exsanplusplus38119 жыл бұрын
this is the time of the year, yeap !
@boobaliz11 жыл бұрын
Many hackers have disapeared of the web-hacking scene these last years. Now i know what they are doing ... ;)
@js93b10 жыл бұрын
High Frequency or not would you when huge companies like Goldman Sachs have an obvious advantage?
@UnhingedBecauseLucid11 жыл бұрын
47:45 --Paul Wilmott--Quant Professor. ;) Now there's a precious fucking quote right there... ...would welcome an extensive and wide ranging interview of the man... perhaps with Emmanuel Derman...
@milesdisney662610 жыл бұрын
What was that address? 600 Commercial Drive in someplace new jersey?
@shadow3brigade3SBX310 жыл бұрын
39:40 the deepest meaning of notime time
@algerhistogram10 жыл бұрын
31:38 worst parking job ever
@tremoo59875 жыл бұрын
Haha, the shitbox's engine probably died and he luckily glided it into a parking lot.
@243wayne15 жыл бұрын
@@tremoo5987 -WRONG. The engine of the Toyota Sienna will outlast whatever vehicle your driving by 300,000 miles. And that is IF and when your vehicle gets to 200,000 miles. Class dismissed.
@wilsonjing5 жыл бұрын
Soooo who bought at the bottom that day?
@sexyanto8 жыл бұрын
@22:10 This guy threw the major shade ever... He basically saying It is one thing to be stupid but it is a sad thing to be stupid and not know it... lol
@v.prestorpnrcrtlcrt20964 жыл бұрын
"I saw that panic, so i put on cnn," said the american
@turboredcart5 жыл бұрын
Has this been fixed yet?
@raglanheuser11624 жыл бұрын
who is the guy narrating the stock collapse. hes amazing
@dabaddestbob8 жыл бұрын
Anyone know the app they use on their ipads/show on the screens w the red graphs?
@dabaddestbob8 жыл бұрын
+dabaddestbob yello? anyone?
@heinrichb8 жыл бұрын
+dabaddestbob I'd love to know that too.
@prowarslamable8 жыл бұрын
+dabaddestbob I also need to know.
@vprodocumentary8 жыл бұрын
Hi all, it's the Money & Speed app, an interactive documentary: itunes.apple.com/nl/app/money-speed-inside-black-box/id411884445?mt=8
@dabaddestbob8 жыл бұрын
Thank you!!!!!
@Haroldp729 жыл бұрын
cool
@mitchwilliams137710 жыл бұрын
Price quoted does not necessarily mean last filled,does it?[25:43]it's just a quote,right?[25:58]
@EmmMacken4 жыл бұрын
It'd be possible to introduce the ability to source where trades are coming from.
@buzzarmstrong40710 жыл бұрын
the historian says every time you buy a computer it goes twice as fast. Hasn't been that way for at least several years.
@jholid6y5 жыл бұрын
If u had some put options, would be a very good day for u
@tonysamaniego78754 жыл бұрын
The camera work in this film is aweful
@simonclasse94354 жыл бұрын
12:16 that's beautiful
@iamgionism14534 жыл бұрын
It is 2019 the market is at an all time high I predict a crash is bound to happen if not by the end of the year is going to be like 3 months into 2020 I will then be buying hella puts and become a millionaire 😎
@eliasbouhout14 жыл бұрын
Good luck bro
@fantasyfootball86254 жыл бұрын
Congrats hope you did
@mralwaysbored4 жыл бұрын
Are you a millionaire yet?! If not I hope this week makes you one..
@Bitachon4 жыл бұрын
*Did you buy puts and become millionaire?*
@steve3in1424 жыл бұрын
iAmGionism how did that work out for you 2020 April now virus time
@puppetmasterblaster11 жыл бұрын
You are just one rogue algo away from losing your retirement : )
@Wamsuo58u5 жыл бұрын
Stock market is a scam lol
@parrotraiser65416 жыл бұрын
George Dyson is Freeman Dyson's son, (and the spitting image of his father).
@maryh44594 жыл бұрын
Sounds like a program change and needed to reboot......the virus was installed
@chrisferrell26635 жыл бұрын
If someone didn't know what they were doing, how could we blame them? If someone knew exactly what they were doing, how will we ever catch them? Quite a predicament....
@daddyw17194 жыл бұрын
WTF?! A hedgefund manager says he doesn't put his own money in the market!??
@chanbla11mit7 жыл бұрын
what i don't get is why the SEC isn't allowed to disclose to the public all the information i mean this is a crisis that affects the whole nation, as a democracy pledged to serve the people shouldn't the US gov be as transparent about this as possible?
@paulturner9566 жыл бұрын
if you don't know you are very naive, it fucking obvious
@karllogan508410 жыл бұрын
hahaha Finance costs and revenue aren't disclosed separately on a I/S when it's a financial company.. It's just pushed into operating costs. And what do you even mean? Trades don't need to be disclosed on any financial statements, it isn't required for private companies to even disclose basic financial statements to the public.
@Ravidist4 жыл бұрын
Maybe I'm high, but did that SEC regulator just tell us he can't disclose the owners of a trade made in PUBLIC stocks, on a PUBLIC stock exchange?
@ifukill75384 жыл бұрын
2020 😱
@kevinkevinpham11 жыл бұрын
haha the fact that you said "dude" and took the time to state the threat, it sounds like all talk...
@msimmons24 жыл бұрын
This is one topic I completely do not understand. Is there a stock market 101 for dummies to understand how to read the numbers and what to look for?