Warren Buffett Defends Business Wire On HFT Issue

Mark Melin

Published onMarch 3, 2014

Updated on May 13, 2021

Warren Buffett today rebutted charges that Business Wire, a Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) subsidiary, gave special advantage to high frequency traders before Business Wire information was available to general investors.

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In a February 6 Wall Street Journal article Scott Patterson, author of the algorithmic trading book The Quants, wrote, “High-frequency traders have been paying to get direct access to market-moving news releases, a practice that can give firms the ability to trade fractions of a second ahead of less fleet-footed investors. The traders are getting news releases from Business Wire, which distributes corporate-earnings releases and economic reports...

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Mark Melin

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

Warren Buffett Defends Business Wire On HFT Issue

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