Eneasz comments on Open Thread: May 2010 - Less Wrong
You are viewing a comment permalink. View the original post to see all comments and the full post content.
You are viewing a comment permalink. View the original post to see all comments and the full post content.
Comments (543)
First step in the AI take-over: gather funds. Yesterday's massive stock market spike took place in a matter of minutes, and it looks like it was in large part due to "glitches" in automatic trading programs. Accenture opened and closed at $41/share, but at one point was trading for $0.01/share. Anyone with $1000, lighting reflexes, and insider knowledge could've made $4.1M yesterday. For every $1000 they had.
http://www.npr.org/blogs/money/2010/05/the_market_just_flipped_out_ma.html
Next month: our new overlords reveal themselves?
In the same vein, a note from the machines:
Many of those trades will be cancelled.
A clever idea, but won't work: "The New York Stock Exchange and the Nasdaq OMX Group say they will cancel trades involving stocks that saw sharp volatility at the height of the market’s steep intraday decline Thursday afternoon."