The Secret Mastermind Behind the US Economic Collapse
Channel: imCarl 
Date: 27/01/2024

The flash crash was initially attributed to a large and automated sell order that was executed by a mutual fund company, specifically Waddell & Reed Financial. The trader involved was not intentionally causing a crash but was executing a substantial sell order using an algorithmic trading program. The algorithm used by the firm to sell a large amount of E-Mini S&P 500 futures contracts was designed to execute the trade quickly, without regard for the overall impact on the market.

The speed and scale of the sell order, combined with market conditions and other high-frequency trading algorithms reacting to the sudden price movements, led to a cascade effect. The market experienced a rapid decline in prices, with some individual stocks briefly trading at extremely low values before rebounding.

It's important to note that Waddell & Reed was later cleared of any wrongdoing by the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). The flash crash prompted a reevaluation of market regulations and the use of algorithmic trading to prevent similar incidents in the future.

CHAPTERS

0:00 INTRO
0:44 EARLY LIFE
02:05 THE MADNESS
03:00 THE JOB
03:32 THE MARKET
05:00 THE GROWTH
06:03 THE BOTS
06:50 THE REBELLION AGAINST THE MATRIX


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