New York, NY -- (SBWIRE) -- 08/22/2011 -- High frequency trading is a "major, major negative for the stock market" and the overall economy, legendary value investor Marvin Schwartz, managing director and senior portfolio manager at Neuberger Berman, told CNBC Thursday. Those brave enough to challenge this assertions are welcome at Golden Networking’s High-Frequency Trading Leaders Forum 2011, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (http://www.HFTLeadersForum.com), hosted in Hong Kong, September, 19-21, Chicago, October 3-5, Sao Paulo, October 24-26, and Singapore, November 21-23.

In defending his position, Mr. Schwartz said: "These high frequency traders begin the day owning nothing and they end the day owning nothing in terms of common stocks. But during the day they're accounting for between 50 percent and 65 percent of the volume." The liquidity that is added to the market is "useless," with "no lasting value," he added. "It consists of orders that are placed and that are quickly retracted. It heavily, heavily consists of front-running. There was no high-frequency trading four years ago. What permitted high-frequency trading, in my opinion, to occur was when the SEC [Securities and Exchange Commission] removed the uptick rule," explained Mr. Schwartz..

According to Wikipedia, Mr. Schwartz is a Wall Street trader who made his fortune successfully trading stocks, futures and options. He received national attention when he won the U.S. Investing Championship in 1984. He is the author of Pit Bull: Lessons from Wall Street's Champion Day Trader. He graduated with a degree from Amherst College in 1967 and received an MBA from Columbia Business School in 1970.

Mr. Schwartz served in the U.S. Marine Corps Reserves from 1968–73, completed his commitment with rank of Captain, after working several years in what he considered to be a dead-end job as a financial analyst at E. F. Hutton, Martin accumulated a nest egg of $100,000, quit the firm, and bought a seat on the American Stock Exchange where he began trading stocks options and futures. In his first full year as an independent trader he made $600,000 and a year later earned $1.2 million. Mr. Schwartz' style is to get in and out of positions in a hurry, in 1985 began his own fund in which he would manage other people's money as well as his own. He is most famous for writing the book Pit Bull: Lessons from Wall Street?s Champion Day Trader, based on that professional life.

High-Frequency Trading Leaders Forum 2011 is produced by Golden Networking (http://www.goldennetworking.net), the premier networking community for business executives, entrepreneurs and investors. Upcoming Golden Networking's Forums and Business Receptions include:

• High-Frequency Trading Happy Hour Chicago (http://hfthappyhourchicago.eventbrite.com), August 23, Chicago

• High-Frequency Trading Happy Hour Hong Kong (http://hfthappyhourhongkong.eventbrite.com), August 25, Hong Kong

• High-Frequency Trading Happy Hour Singapore (http://hfthappyhoursingapore.eventbrite.com), August 25, Singapore

• China Happy Hour New York (http://www.ChinaHappyHour.com), August 30, New York

• Public Finance Leaders Forum 2011 New York, "Navigating Uncharted Territories After S&P's U.S. Debt Downgrade from its Gilt-Edged AAA Credit Rating" (http://www.PublicFinanceLeadersForum.com), September 9, New York

• High-Frequency Trading Happy Hour New York (http://www.hfthappyhour.com), September 13, New York City

• High-Frequency Trading Leaders Forum 2011 Hong Kong , "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (http://hftleadersforumhongkong.eventbrite.com), September, 19-21, Hong Kong

• High-Frequency Trading Leaders Forum 2011 Chicago, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (http://hftleadersforumchicago.eventbrite.com), October 3-5, Chicago

• China Leaders Forum 2011 New York, "How American Companies Can Plug into the Chinese Rocket-Propelled Economy?" (http://www.ChinaLeadersForum.com), October 7, New York

• High-Frequency Trading Leaders Forum 2011 Sao Paulo, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (http://hftleadersforumsaopaulo.eventbrite.com), October 24-26, Sao Paulo, Brazil

• High-Frequency Trading Leaders Forum 2011 Singapore, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World" (http://hftleadersforumsingapore.eventbrite.com), November 13-15, Singapore

Golden Networking has compiled the insights of top experts and industry practitioners and produced DVD Video Packages for its Leaders and Experts Forums, including:

• High-Frequency Trading Leaders Forum 2011 DVD Video Package, "How Speed Traders Leverage Cutting-Edge Strategies in the Post-Flash Crash World", http://www.HFTLeadersForum.com

• High-Frequency Trading Experts Workshop DVD Video Package, "Practical Implementation of High-Frequency Trading Strategies", http://www.HFTExpertsWorkshop.com

• 2nd China Leaders Forum DVD Video Package, "Is the Chinese Dragon Poised for Global Dominance or Economic Implosion?", http://www.ChinaLeadersForum.com

• Distressed Investing Experts Forum 2010 DVD Video Package, "Analyzing and Valuing Distressed Companies, Securities and Real Estate", http://www.DistressedInvestingExpertsForum.com

• Derivatives Leaders Forum 2010 DVD Video Package, "Strategies for Increasing Profits under an Evolving Regulatory Framework", http://www.DerivativesLeadersForum.com

• High-Frequency Trading Leaders Forum 2010 DVD Video Package, "Innovating and Profiting from High-Frequency Trading in 2010 and Beyond", http://www.HFTLeadersForum.com

• Hedge Funds Leaders Forum 2010 DVD Video Package, "Generating Alpha in Challenging Times", http://www.HedgeFundsLeadersForum.com

• High-Frequency Trading Experts Forum 2010 DVD Video Package, "Starting and Running a High-Frequency Trading Operation", http://www.HFTExpertsForum.com

• Distressed Investing Leaders Forum 2010 DVD Video Package, "Extraordinary Opportunities Investors Cannot Afford to Pass", http://www.DistressedInvestingLeadersForum.com

• China Leaders Forum 2009 DVD Video Package, "Addressing the Challenges Posed by the Present Wave of Chinese Globalization", http://www.ChinaLeadersForum.com

• Distressed Investing Leaders Forum 2009 DVD Video Package, "The Most Comprehensive Guide for Any Investor in Distressed Assets", http://www.DistressedInvestingLeadersForum.com