Larry Tabb, the chief executive of the consulting firm Tabb Group, explains why recent statements by author Michael Lewis that the U.S. equities market is “rigged” are wrong and explains that intermediaries perform one of the most important functions of a market—price discovery. He also argues that the key to making markets work better is the ability of investors to analyze market data and make information-based judgments on the quality of their trade executions. “If your managers, brokers and/or trading venues are not doing their job, leverage your choice and send them a message – you’re fired,” he writes.
