The Wall Street Code – (vpro backlight documentary – 2013)

The Wall Street Code – (vpro backlight documentary – 2013)



A thriller about a genius algorithm builder who dared to stand up against Wall Street. Haim Bodek, aka The Algo Arms Dealer. After Quants: the Alchemists of Wall Street and Money & Speed: Inside the Black Box. This is the final episode of a trilogy in search of the winners and losers of the tech revolution on Wall Street. Trading on the financial market is not longer dominated by humans, but by super fast computers and algorithms. The result of this digital revolution on Wall Street is a complex and fragmented financial system that is hard to understand and overseen. A system that we are all connected to. The only people who understand the system a bit, are the people who built it.

Haim Bodek started his own high frequency trading in 2007 and built a from his point of view perfect and fast algorithm. One day it just stopped working. Profits disappeared en he went looking for the cause. He decided to go public with his search to display the rotten system.

Originally broadcasted by VPRO in 2013.
© VPRO Backlight November 2013

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Credits:
Director: Marije Meerman
Research: Gerko Wessel
English, French and Spanish subtitles: Ericsson.
French and Spanish subtitles are co-funded by European Union.

48 Comments

  1. Ahahha

  2. MrSupernova111

    This guy Bodek looks like he doesn't know a damn thing about finance. At 10:34 he admits it. Maybe that's his real problem.

    There is no such thing as order types that don't go through. Some brokerages have better lag times but the market is not controlled by single participants. That completely contradicts the US market being the most liquid market in the world with millions of participants.

  3. en donde podria encontrar este documentarl tuyo "The Algo Arms Dealer"

  4. Lincoln C Mitchell

    good video

  5. bs

  6. Zach Barillaro

    I like how the guy who was showing off with his Audi was the biggest dumbass of them all haha. Ironic

  7. I have watched this video so much I have lost count and it is as AMAZING NOW AS IT WAS when I first watched it! Haim is "THE MAN"

  8. Madeleine Gallay

    Lucci!!!!!White walls, dude!!!

  9. Very entertaining

  10. Derrick Parker

    I watched this video and still don't know what they were talking about.

  11. Greiguci Wootchie

    Warren Buffet uses a newspaper and is worth €70b.

  12. This video was uploaded in 2013, most probably made even earlier, but they doing this for 10+ years. To be frank I rather have smaller spread with bit smaller range, than unable to get out.

  13. soon when all this shit finance market collapses all millions fucking traders will starving to death

  14. Юрий Курбанов

    Хорошее видео

  15. This Documentary shows why the @Ethereum project is so important!

  16. Carlos Enrique Amaro

    Thank you for this. Genius. I think it was the one percent…Walmart family…who sold and caused a crash/trend…or someone with equal and more power owning enough shares and using code.

  17. it's about knowing the market and knowing market Is about knowing the human being's behaviors, and human being's behaviors cannot be fully explained or calculated by coding…only man can do this job.

  18. As one of the guys says, if people would know, they would do something about it. Why people don't know? Media do not inform them about it. But lucky we are to know when celebrities fart. 😀 Love VPRO. Keep the good work going.

  19. Why you dont leave free to community put subtitles? you can review before release the text

  20. 30:23 HF traders don't wait the dumb money from pensions funds or mutual to come, they just trade among side another HFT…. that is just stupid, this video misleading some facts… (not on purpose) is true the flash crash was due HFT bug and order pulling out but that was take care of and is very unlike that happen again… also don't forget that those days was the Greek crisis and the credit crunch crisis in all the EU.

    Is High frequency trading a bad thing? well new tech will be always a disruptive pattern of cause and effect in society,I would say is either bad or good it just there, and probably there is inherent downside in all the financial markets aspect, (before HFT)I if a new tech can correct this and make a little better well it should be welcomed… but in essence HFT is jut trading security but with a different timing/speed and space zone is like a paparell universe of the money market that take place on the financial markets.

  21. Essentially theft is allowed if one is of the right tribe. How rapacious is the LBO tribe? They have actually attempted to change the name of their industry, that is how ugly the facts are. It is specious to call it Private Equity. Same with HFT. It is just front running. Yet for the commoner, front running is illegal! What a joke!

  22. iamjezuzchrist

    You always here of Kurzweil and the likes talking about the implications of AI on the world- what would it make of this? If a flash crash is any indication of the box the algos opened… AI and the singularity… it's blowing my mind thinking about it.

  23. So he knows HTML and CSS, lol. This is a great doc though

  24. the guy look like aang from avatar

  25. Haim Bodek is Billy Corgan's twin brother

  26. @ 19:29 She asks: "but what are these poles, these huge antennas" while looking at standard electricity poles and 4G antennas. And then the idiot comes in behind her and tells her "this is how they get it to New York fast; if you were to climb the pole… and if you had a telescope which you could point straight down, you'd see the next telescope". LMAO Are you fucking kidding me? Those are 4G access points, they don't point at other access points. Furthermore, nobody in their right mind will use wireless technology to transmit financial data: it's too fucking slow.

    And then she says: "but I thought everybody uses glass fiber" and he then says "this is faster; the speed of the light is all abut distance, and light travels a little bit faster in the air than it does in the fiber." GTFO! Where do they get these idiots? OMG My head is ready to explode! Somebody should pull the plug on these idiots!

  27. Very interesting. What about updates.

  28. this docu need a correct eng subtitle 🙁

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  30. fascinating documentary. i wonder what's going on with all of this nowadays?

  31. Rough stuf
    Get fiches

  32. GODLESS CAPITALISM.

  33. good one.

  34. I guess no one got the special order type memo….

  35. This doc is awesome! Props to the producer…

  36. that was cool when they played Orion when the dude that looks like Billy Corgan from Smashing Pumpkins said he liked Metallica!!

  37. So It's completely fake, the Economy is in it's last breaths being pump oxygen aka algorithms

  38. The FPS Addict

    With all that brainpower they couldn't see the warning signs right from the get go, I guess its true that greed can blind you to the facts… more likely they didn't give a shit since they were scroogeMcDuckin it XD

  39. Ka'lika T. Fria'niquia

    any more recent stories on this? sounds like shit was pretty intense in 2013. it doesn't seem like it's ruined the system yet. I need a 2015/ 2016 update on this story.

  40. the arguments in this video is similar to bodybuilders who were complaining because one competitor used HGH when the rest of them were stacking steroids with no awareness that Human Growth Hormones were available.

  41. Money = life?

  42. great documentary

  43. Sidharth Ghoshal

    What is the song playing when Haim is driving 49:25 onwards…?

  44. Ellotus Freeholy

    Parasites, leaches. When the one guy says 'we played by the rules', maybe they're doing things that the rules didn't anticipate, perhaps couldn't anticipate was even possible. Considering the fact that the people behind these process's aren't even financial people, but instead are computer people, pattern people in the sense of algorithms. Kind of comes down to the difference between the letter of the law and the spirit of the law. Anytime there is a situation where there is a guaranteed income, that doesn't seem compatible with the purpose of the stock market. On the one hand, they are profiting from the movement of stock prices, which is what you are supposed to do, but if it's all above board and honest income then why the secrecy, what are they afraid of? I guess the wrath of the people who's pension funds should be and would be doing better than they are if these people weren't doing what they're doing.

  45. alls fair in love, war and finance

  46. first tablet in 83. crazy

  47. Reginald Tilghman

    OMG THEY USING THIS MAN'S CODES AND HIS BUSINESS WENT UNDER???. THEY DON'T WATCH SURVIVOR??..IT'S RUINED!!!

  48. Santo dios brujerias

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