Doug Kass: Kill the Quants & Their Technology Before They Kill Us

CrownThomas's picture

In light of yet another tech driven blowup yesterday at Knight Capital, perhaps someone, anyone, outside of ZH and Themis should look into this nonsense.

Here is a clip from yesterday where Doug Kass, of Seabreeze Partners, tells it like it is: Kill the quants and their technology before they kill us.

An attempt is made by Tommy 2x to explain why HFT is beneficial, but what he fails to realize is that if technology "glitches" wipe out all shareholder wealth, there won't be anyone left to take advantage of those "lower transaction fees"