article
by Patrick McKenzie
This is outside of my usual software-oriented beat, but sometimes people are wrong on the Internet. Most recently, people have been wrong about payment for order flow, an esoteric topic in the investing industry which seems vaguely unsavory to Hacker News commenters, Michael Lewis , etc.
Patrick McKenzie explains how discount brokerages make money even when customer trades appear free.
We are not affiliated with Patrick McKenzie. This unofficial audio edition is available to listen to and share for free. See the original selection on Kalzumeus.
Duration
~29 minutes (28K characters)
Release date
Jun 26, 2019