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Good book. HFT gives the illusion of liquidity - can dry up real quick and if things go wrong, well, as suggested below, you get the Flesh Crushes ;)

Some guy with an MFA is not qualified to talk about HFT and liquidity. I was referring more to an academic source, flash crashes are more the exception and not the rule; they stabilize quickly and have little to no lasting negative effect on industry.

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