. >> he walks into bill atman's office the hedge fund manager. bill told me when he walked in there we knew something was wrong. most, everybody knew something was wrong. they knew the market was no longer the market it was an illusion. whenever they tried to do something, it was as if the market knew what they wanted to do. i said i thought i had only insider trading problem, i thought i had a leak. when i wanted to go buy something. >> rose: someone was tapping my lines. >> they thought it was bigger. they knew what i was trying to do in the moment. >> rose: here's what's important to understand for me. it's a millisecond, it's not weeks later it's hours later, they said it the second. >> it's seconds. the difference between the market that the investors that ordinary investors, you, me, the guy with the 401(k), bill atman is seeing, the speed of that market and the speed of the high frequency traders is a couple, it's just a couple milliseconds. that's enough time from the computer's point of view. >> rose: exactly. everything else is frequenc

but no one understands why and so bill atman, a hedge fund manager in new york often buys and tells big chunks of companies told me that he said before that the main character in the story came to his office and he thought he had insider-trading issue. he was thinking of buying some stock and he would try to buy it and then sell it back for a higher price. so that just captures the flavor. people think learning what you want to do before you do it and doing it to your disadvantage. >> host: michael lewis is our guest in his book is called "flash boys: a wall street revolt." he is also the author of "moneyball" and we have him lie on booktv to take your calls. 202 at 585 if you can't get through, sunday tweet and you can make a commenn her facebook page. so what is your history in the financial markets? >> guest: my personal history? >> host: yes. >> guest: it was brief but lucrative. i stumbled into a job at salomon brothers when i was 24 years old in 1985. and i was trained for six months and i spent two years and at the time i was essentially a derivatives expert. as well as bond sale

so bill atman, buys himself big chunks of companies, said before the main character of the story came into his office, he thought he had an insider trading issue. he was thinking about buying some stock, he was going out and looking to buy some stock, and the stock would move on him. eat try to buy and it it would go up as if someone knew he wanted to buy and then sell it back at a higher price. that catches the flavor. it's people learning what you want to do before you do it, and doing it to your disadvantage. >> host: michael lewis is our guest. his book is call "flash boys." also the author of several other books. you might have seen him on "60 minutes" last week, and that piece on "60 minutes" we have him live here on booktv to take your calls. we'll put the numbers on the screen 202-585-3880. eastern, 583-3881. mountain and pacific time zones. i if you can't get through on the phone lines get through on twitter. you can send a tweet. >> host: what is your history in the financial markets? you're work history. >> guest: my personal history. >> host: yes. >> guest: brief. it brief

but no one understands why and so bill atman, a hedge fund manager in new york often buys and tells big chunks of companies told me that he said before that the main character in the story came to his office and he thought he had insider-trading issue. he was thinking of buying some stock and he would try to buy it and then sell it back for a higher price. so that just captures the flavor. people think learning what you want to do before you do it and doing it to your disadvantage. >> host: michael lewis is our guest in his book is called "flash boys: a wall street revolt." he is also the author of "moneyball" and we have him lie on booktv to take your calls. 202 at 585 if you can't get through, sunday tweet and you can make a commenn her facebook page. so what is your history in the financial markets? >> guest: my personal history? >> host: yes. >> guest: it was brief but lucrative. i stumbled into a job at salomon brothers when i was 24 years old in 1985. and i was trained for six months and i spent two years and at the time i was essentially a derivatives expert. as well as bond sale