Mises Wire

Jonathan Lebed: criminal or just one smart stock-trading cookie?

Jonathan Lebed: criminal or just one smart stock-trading cookie?

I can recall reading this article by Michael Lewis when it first appeared, but it holds up 6 years later. It is his detailed out of how a 15-year old made the big bucks on Wall Street through day trading -- until the SEC cracked down for reasons that are oddly unclear. It also reminds us of one good thing about working at the New York Times. Investigators at the SEC actually call you back and tell you what they are thinking. In this case, it is devasting.

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