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The problem with this essay is that it conflates the needs of a large institutional investors like Yale with the needs of small investors (like you and me). In

by harryh 9y ago

The problem with this essay is that it conflates the needs of a large institutional investors like Yale with the needs of small investors (like you and me). In many cases these needs can be inverted. Yale wants to buy and sell large blocks of stock without the price moving away from them. I want to buy and sell stock at the best possible price with all of the latest information transmitted to the market as fast as possible. This is why Yale would prefer to trade in "darker" exchanges like IEX and most retail investors should prefer other exchanges.

hectorr 9y ago
Yes. This isn't Wall Street is bilking the common man. This is one side of Wall Street trying to squeeze the other side, and appealing to the public to help their case. It's a tough market for big money right now. Opportunities are scarce and their customers are pushing down costs, so they're putting pressure on their suppliers.
pm90 9y ago
> small investors (like you and me) Uhmm, maybe you, but definitely not me. Most people I know (I agree though, I live outside NYC or any big financial center) don't give a rat's ass about where the market is going, which stocks are good and which are bad. We invest a lot into our 401(k)'s and the rest we put in index funds. So my interests are definitely aligned more with large institutional investors. BTW my personal investment strategy is not to get some kind of windfall during retirement. The only thing I really look for is that if I saved well, I will have enough to retire on (i.e. not ask for others for monetary help). I just want my funds to not fail.
- harryh 9y ago
  That makes you like me. You aren't buying and selling based on proprietary information about where you think the market is going, but because of your cash flow situation (You save $1000 a month now, and hope to withdraw $5000 a month in retirement or whatever).

by harryh 9y ago

hectorr 9y ago

Yes. This isn't Wall Street is bilking the common man. This is one side of Wall Street trying to squeeze the other side, and appealing to the public to help their case. It's a tough market for big money right now. Opportunities are scarce and their customers are pushing down costs, so they're putting pressure on their suppliers.

pm90 9y ago

> small investors (like you and me) Uhmm, maybe you, but definitely not me. Most people I know (I agree though, I live outside NYC or any big financial center) don't give a rat's ass about where the market is going, which stocks are good and which are bad. We invest a lot into our 401(k)'s and the rest we put in index funds. So my interests are definitely aligned more with large institutional investors. BTW my personal investment strategy is not to get some kind of windfall during retirement. The only thing I really look for is that if I saved well, I will have enough to retire on (i.e. not ask for others for monetary help). I just want my funds to not fail.

harryh 9y ago
That makes you like me. You aren't buying and selling based on proprietary information about where you think the market is going, but because of your cash flow situation (You save $1000 a month now, and hope to withdraw $5000 a month in retirement or whatever).