the natives are restless. HFT SCUM on the run?
- Thread starter stock777
- Start date
It's a good thing Themis doesn't have a dog in this fight and can be a neutral party to the whole discussion.
If Themis was in the buggy whip industry, they'd have been railing against "those dang automobiles" a century ago.
Give it up already. Just because HFT undermined some strategies doesn't mean it's undermined all strategies and that all of us care about it.
If the HFT industry earned $12.9 billion (I think that was the number in the post) in profits and there are 90 million investors who own mutual funds
http://www.icifactbook.org/fb_ch6.html
that's $143 per investor.
Those same investors have a median investment portfolio size of $100K (from the same link, scroll down), which means that HFT "scammed" them out of 0.143% of their assets. Of course, that doesn't take into account that there definitely has been a narrowing of bid-ask spreads, which means that the 0.143% is actually an overestimate.
Puts it into perspective, doesn't it? Of course, unless you're an obsessed lunatic or, like Themis, you just see now that you made the wrong strategic bet on how the marketplace would evolve and now want to cut the legs out from the competition.
Wwwwwwaaaaaaaaaahhhhhhhh HFT!!!!!!!
Pussy. Maybe you should get another job besides trader. Obviously, you aren't cut out for this type of work.
Maybe hairdresser or interior designer is more your speed.
Seriously, did you stamp your feet and cross your arms across your chest when you posted that, you pouty little b*tch?
more proof that stock777 was early and right yet again.
more proof that the shills who said he was wrong, are on the run.
for the 2 or 3 of you that even understand what it means, check out the quote about packets.
http://news.cnet.com/8301-27080_3-2...ock-trading-poses-fraud-risk-researcher-says/
more proof that the shills who said he was wrong, are on the run.
for the 2 or 3 of you that even understand what it means, check out the quote about packets.
http://news.cnet.com/8301-27080_3-2...ock-trading-poses-fraud-risk-researcher-says/
Most of the comments there would apply to any sort of trader, e.g.:
<i>
- There is no good reason these high volume, high speed traders should be allowed to continue to operate the way they do. They manipulate and distort the markets, taking profits away from regular investors while adding nothing of value. This is just another way to rig the game for the benefit of the few. Time to end it. Put a limit on the number of trades per day, and slow down the speed at which trades can be entered.</i>
<i>- No matter what they âwantâ to be called, they are part and parcel of what a sick place America has become. They buy influence, and seek to buy even more. They contribute nothing to society of real value. They make a mockery of an honest dayâs work, where men actually EARN what they get paid. And they fit right in with what is fast becoming one of the most easy-to-buy-off and hypocritical governments in the world.</i>
<i>- âAs a group, they earned $12.9 billion in profit in the last two yearsâ. I translate that as: â They skimmed of $12.9 billion of the possible gains of proper investors who invest in industry and commerce to allow them to create value for the world.</i>
When I recently made $1700 in a futures spread trade no doubt those same people would say that I was skimming money from investors without providing any value, that I didn't really EARN the money, that I was manipulating the markets, etc. Certainly the complaints would be even louder about the people here who trade in much larger size than I do (and no doubt, more successfully). So all this whining about high frequency trades from supposed "elite traders" sounds terribly hypocritical. You're just jealous that you didn't think of the HFT thing first.