‘We’re Just Waiting For A Disaster,” says Mark Fisher
Market chatter suggests computer generated trading sent Wall Street spiraling out of control on Thursday. And it’s got Mark Fisher of MBF worried, very worried.
Mark Fisher, founder and managing member of MBF Asset Management, rarely comes on TV but he felt Thursday’s events were so important he agreed to an interview.
“I came on TV because as someone who’s been doing this for over 35 years I think this is a warning,” he says.
“I think what we saw on (Thursday) is just the tip of the iceberg,” Fisher says. “There is no way this isn’t going to happen again and again and again unless we can slow the process down.”
Fisher is hoping that in the wake of Thursday’s plunge, lawmakers and the CFTC put together a group of traders and academics and create rules and regulations to slow everything down, especially in times of high distress.
“We’re trading in micro-seconds,” he says. “In the time it takes to tap your desk, a good trading shop can put out 10,000 orders. That just can’t be allowed to continue.”
Fisher has a lot of interesting insights. Check out our entire interview. Watch the video now!
