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I don't consider arbitrageurs parasites. They ensure that I am paying a fair price for my SPY shares.
by jliptzin 10y ago
I don't consider arbitrageurs parasites. They ensure that I am paying a fair price for my SPY shares.
- baloneyman 10y agoArbitrage that only exists due to the technicalities of market microstructure is parasitic to me. True HFT identifies trades with no risk; a long and a hedge at the same microsecond. That's just fractions of pennies that true risk takers lose, every day. They don't care at all about the intrinsic value of the security