Busy, busy. Not always enough time to read books even by authors we know to be gifted explainers of complicated, important phenomena. Back around the date this book was published, its author gave an interview. In just over half an hour he managed to explain one of the most complicated human activities imaginable, in terms most of us could understand:
“The stock market is rigged,” Michael Lewis tells Fresh Air‘s Terry Gross. “It’s rigged for the benefit for really a handful of insiders. It’s rigged to … maximize the take of Wall Street, of banks, the exchanges and the high-frequency traders at the expense of ordinary investors.”
And he sparked our interest in the human side of an otherwise technology-dominated phenomenon. Brad Katsuyama, a key character in the story Lewis was telling, sounded like someone we would appreciate knowing more about. So, another half hour of time invested, and we now know we were right.
Of course, the book is the next logical place to go looking for the full story, but if you do not have the resources for that, here is a shortcut. It will take more than a half hour, but likely you will consider it time well invested. We are not sure which to highlight first, his ethical framework or his ability to communicate so clearly about that framework and about business principles. We might have thought only a liberal arts major could be so well equipped, but Brad chalks one up for the finance major.
This kind of interview is the best half hour of the day from a Raxa Collective perspective, because it gives a sense of distant camaraderie: even in a field so far removed from our own, the world of finance, there is an equivalent to our notion of entrepreneurial conservation. This young man resists the aw shucks explanation for an ethical decision and reinforces instead the market value of doing the right thing.