Edgar
Perez, Author, The Speed Traders, and Course Director, The Speed
Traders Workshop, Proudly Introduces Knightmare on Wall Street, The
Rise and Fall of Knight Capital and the Biggest Risk for Financial
Markets, a Behind-the-scenes Look at Knight Capital's 17 years of
Tumultuous Existence as an Independent Company.
New
York, NY, USA (December 23, 2013) -- Miley Cyrus and Justin
Bieber both appealed to a wide audience of tweens and their parents.
As indicated by Business Insider, benefitting from the Disney
marketing machine, Cyrus was Disney TV character Hannah Montana, a
regular singer on the Disney channel, a concert performer that
recorded albums, and the namesake of the a clothing line launched by
Disney in 2007; what worked for the Hannah Montana crowd was not
going to work for 20 somethings. The target audience, or lock, had
changed so Miley needed to come up with a new edgier image, or key,
to remain relevant.
Justin
Bieber's mop-top silky blond hair and boyish smile became his
signature, and it worked really well with his target audience, tweens
and parents who preferred their kids emulate the wholesome,
innocent-looking Bieber over the other choices in the pop world.
Similar to Miley, as he approached 20 and his loyal fans grew with
him, he needed a new image to fit his changing audience.
Neither
of them could ever go back to being cute 15 and 16 year olds again.
The best they could do was go after an older, edgier audience and
keep their PR machines going. Knightmare on Wall Street, Mr. Edgar
Perez's latest book, a thrilling minute-by-minute account of the
terrifying hours following Knight Capital's August 1, 2012 trading
debacle, followed the same marketing philosophy by after his first
book, The Speed Traders.
Knight
Capital announced a staggering loss of $440 million, after issuing an
unprecedented number of erroneous orders into the market, at 9:30
A.M. on August 1, 2012, due to an error in installing new software.
What followed after this shocking announcement were several rounds of
desperate conversations with a number of vulture players who had
smelled opportunity and were readying themselves to pick up
bargain-priced pieces. On August 6, 2012, CEO Thomas Joyce confirmed
that Knight Capital had struck a deal with Jefferies, TD Ameritrade,
Blackstone, GETCO, Stephens, and Stifel Financial, staving off
collapse days after the trading mishap. While Knight Capital was back
in the game, its limping recovery quickly prompted hungry competitors
to bid for the entire company. On December 19, 2012, the board
decided to accept an acquisition proposal from GETCO rather than
Virtu Financial. For GETCO, acquiring Knight Capital represented a
gigantic fast forward step. For Knight Capital, it was the end of its
wild ride as an independent entity.
Perez
is widely regarded as the preeminent global expert in the specialized
area of high-frequency trading. He is author of The Speed Traders, An
Insider's Look at the New High-Frequency Trading Phenomenon That is
Transforming the Investing World, published in English by McGraw-Hill
Inc. (2011), Published in Mandarin by China Financial Publishing
House (2012), and Investasi Super Kilat: Pandangan Orang dalam
tentang Fenomena Baru Frekuensi Tinggi yang Mentransformasi Dunia
Investasi, published in Bahasa Indonesia by Kompas Gramedia (2012).
Perez is course director of The Speed Traders Workshop, How High
Frequency Traders Leverage Profitable Strategies to Find Alpha in
Equities, Options, Futures and FX (Hong Kong, Sao Paulo, Seoul, Kuala
Lumpur, Warsaw, Kiev, New York, Singapore, Beijing, Shanghai). He
contributes to The New York Times and China's International Finance
News and Sina Finance.
Media
Contact:
Julia
Petrova
Media
Relations Coordinator
Knightmare
on Wall Street
+1-414-FORUMS0
