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It wouldn't. That's not what he talking about. He's talking about going short on both sides - going short both the "long" version and the "short" version of the same ETF (preferably a leveraged one).

By cheating.

If money is net flowing into futures markets, it is firmly positive sum. If money is net flowing out of futures markets, it is firmly negative sum. If money is net unchanged in futures markets, it is slightly negative sum.

If I told a story that started with "Once upon a time..." and included a few very rich, titled people who lived really luxurious lives, who had the freedom to move goods around and the power to restrict movement of people, it would be immediately recognized for what it is - feudalism. But...

It's been much lower, and it will quite likely get much lower.

Take out constant inflows from "retail", and the concept of sustainable alpha becomes pretty tenuous.

Yes, it is. The irrational bit is self-professed "free trade" policy that doesn't allow for free movement of labor across the border.

Completely different scenario. Voters intentionally and consciously and repeatedly voted in "bread and circuses" candidates, despite having a plethora of options. going on four decades now.

"Uncle Slayton's got his Texan pride, Back in the thickets with his Asian bride, He's got a Airstream trailer and a Holstein cow, He still makes whiskey 'cause he still knows how..."

Nobody is putting a gun to anybody's head to buy a bad IPO. Any asset manager who bought into Groupon should be fired, plain and simple.

This mess was created by voters.

Kidding aside, OT, I'm with you in the "what's the fuss?" camp. The problem IMO is voters actually like big government, as long as they get to pretend they're not paying for it.

The rest of the planet keeps giving the US a green light to "borrow" more - so the US may as well keep "borrowing" more.

1% is noise.

Oops.

Possibly the smartest statement ever posted on ET. "Up to Lexington, 125 Feeling sick and dirty, more dead than alive I'm waiting for my man..." Or not. :)

Too many people expecting "something". Seems more likely "nothing" will happen. Especially with the results being more or less a known lock for Obama for the past week or so.

More likely they tried front-running their client positions, and completely screwed it up. Time will tell.

"Rochdale Securities LLC provides competitive executions based on the expertise of our traders. Our trading desk is consistently ranked top 50 in listed trading by AUTEX."

There is clearly a piece missing from this story.