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While markets are supposed to ensure transparency by showing orders to everyone simultaneously, flash orders are currently allowed because of a loophole in securities regulations that allows for immediate trades.

Promoting the interaction of orders remains one of the most difficult, but crucially important, challenges we face concerning our national market system.

As a whole, investors should welcome attempts to safeguard the integrity of markets. You need very clear rules applied to markets.

Institutions like mutual funds often worry that if they disclose their plans to buy a stock, copycats will move quickly and drive up the stock before the purchase is completed.

Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed.

In a flash order transaction, buy or sell orders are shown to a collection of high-frequency traders for just 30 milliseconds before they are routed to everyone else. They are widely considered to give the few investors with access to the technology an unfair advantage, even by some of the marketplaces that offer the flash orders for a fee.

When the government mandates that everyone must buy a product, its sellers can, and will, increase its price, potentially without limit.

The chief problem with the individual investor: He or she typically buys when the market is high and thinks it's going to go up, and sells when the market is low and thinks it's going to go down.

The whole market mechanism and its evolution is something that, I'm kind of of the Buffett School. You know, if I see a derivative, I run the other way.

The best restraint is old-fashioned market discipline, in which financial traders know that they, personally, will lose a ton of money if they take risky bets that don't pan out.