Since writing about stock market crashes and normal accidents, I spent even more time talking about the events of May 6th. Good analysis is starting to come out. The best I have seen so far is Nanex’s Flash Crash Analysis. Their conclusion is that the crash was precipitated primarily by a queuing and timestamping bug [...]

In the weeks since the precipitous and brief stock market crash on May 6th, I have found myself answering questions about it from people outside the capital markets and discussing it with insiders on many occasions. While I have some thoughts about what went on, I’m often unable to satisfy people’s desire to blame a [...]