Who earns the most?

I wonder what types of trading businesses in this Game earns the most:

1) Exchanges,
2) Brokers,
3) Profitable traders, funds,
4) Arbs,
5) Trading software makers ( Tradestation, Towsend Analytics, RINA, etc. ) and data feed providers ( esignal, qcharts, tickdata, etc. )
6) Trading advisors ( trading books/systems/websites/chatrooms/seminars , etc. sellers ).

Can't wait to see your opinions!

DT-waw
 
Originally posted by candletrader
It aint the right question... a better question is "Who earns the greatest % on whatever capital they've got"...

Yes, ROI is the bottom line for any Investment/Business. I'd say the big mutual funds milking the poor investors year after year, then the Exchanges would come out ahead in the long run.:)
 
Investment bankers and good hedge fund mangers. These people are at the top of the food chain next to them is market makers and specialists.
 
Originally posted by trade555
Investment bankers and good hedge fund mangers. These people are at the top of the food chain next to them is market makers and specialists.

Have to agree with this assessment. However, I think I'd prefer to run a hedge fund than be an investment banker. I suspect few hedge fund managers ever put in 100-hour weeks.
 
Most hedge fund mangers that have a good track record barely watch the market or spend long hours in the office. The know what the market should do most of the time. The market has very little surprises. Just watch a show called Titans of Wall st when they have retired hedge fund mangers on pay attention they are very rarely wrong and there is a lot to learn from the few words they say on the show.
 
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