Overview

A vivid, fast-paced inside look at financial markets, the people who work on them, and how technology is changing their world (and ours). Markets are messy, and no one knows this better than traders who work tirelessly to predict what they will do next. In Whoosh Goes the Market, Daniel Scott Souleles takes us into the day-to-day experiences of a team at a large trading firm, revealing what it's actually like to make and lose money on contemporary capital markets. The traders Souleles shadows have mostly moved out of the pits and now work with automated, glitch-prone computer systems. They remember the days of trading manually, and they are suspicious of algorithmically driven machine-learning systems. Openly musing about their own potential extinction, they spend their time expressing fear and frustration in profanity-laced language. With Souleles as our guide, we learn about everything from betting strategies to inflated valuations, trading swings, and market manipulation. This crash course in contemporary finance vividly reveals the existential anxiety at the evolving front lines of American capitalism.

Full Product Details

Author:   Daniel Scott Souleles
Publisher:   The University of Chicago Press
Imprint:   University of Chicago Press
Dimensions:   Width: 15.20cm , Height: 2.00cm , Length: 22.90cm
Weight:   0.426kg
ISBN:  

9780226833774

ISBN 10:   0226833771
Pages:   208
Publication Date:   25 June 2024
Audience:   Professional and scholarly ,  Professional & Vocational
Format:   Hardback
Publisher's Status:   Active
Availability:   Manufactured on demand  
We will order this item for you from a manufactured on demand supplier.

Table of Contents

Preface: Five Times a Day? 1. Whooshing Up 2. Everything Is Down Again 3. The Greatest Trader in the World 4. On Markets: Rallies and Flows 5. Eternal Optimizers 6. A Nice Chianti for Our Trading Partner, the Target Bomber 7. They Don’t Tell You That There’s No Price 8. Why Would You Buy an Electric Car on Jet Ski Friday? 9. The Economy Will Be Open by Easter Acknowledgments Appendix A. Note-Taking Summary Appendix B. Profanity Distribution Appendix C. AlgoFinance Project Informants Appendix D. How Exchange Professionals Use the Word Market Appendix E. How Quants Use the Word Stem Algo Glossary of Some Trading Words Notes References Index

Reviews

“This book is a triumph, with a deeply impressive piece of ethnographic research at its core. An essential, compelling, insightful read for anyone interested in the realities of everyday life in today’s financial markets.” * Donald MacKenzie, University of Edinburgh *

Author Information

Daniel Scott Souleles is an anthropologist and associate professor in the Department of Business Humanities and Law at the Copenhagen Business School. He is the author of Songs of Profit, Songs of Loss: Private Equity, Wealth, and Inequality and a coeditor of People before Markets: An Alternative Casebook.

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