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03:49 PM
Phil Albinus
Phil Albinus
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Mark Cuban Admits Being "Terrified of High Frequency Trading"

The owner of the Dallas Mavericks doesn’t doubt that another Flash Crash will happen - and he's hedging his portfolio for that moment.

While many investors downplay their concerns about high frequency trading - or prefer not to think about it - Mark Cuban is quite open with his fears. Appearing on CNBC this morning, the Dallas Mavericks owner and Internet boom star says that he is "terrified by high frequency trading."

"I think there's every likelihood - and I think it will happen - where we'll see another Flash Crash," he tells the hosts of CNBC's Squawk Box.

"When you have algorithms trying to outsmart other algorithms at millisecond speed, there's no way human intervention can do anything," he adds.

Check out the video for more:

Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio
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