That's not the only distinction being made here; the other argument is that Lewi...

tptacek on April 13, 2014 | parent | context | favorite | on: Daniel's review of Flash Boys: A Wall Street Revo...

That's not the only distinction being made here; the other argument is that Lewis is capturing a lot of factors other than HFT when considering volatility; for instance, the collapse of the collateralized debt market.