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We don't need a system that pits the smart against the smart, we need a system that pits the smart against nature. I'm sick of zero-sum competing to leech a bi
by jbooth 16y ago
We don't need a system that pits the smart against the smart, we need a system that pits the smart against nature. I'm sick of zero-sum competing to leech a bigger share of money out of the system rather than giving it to investors or investees.
Smart people should be creating things. Discover/fund a new market and get rich? Great! First one to see a big trend and have the guts to bet against it, lining up market pricing? Good, I hope you get rich.
But playing video games in order to nip the largest number of pennies off of actual investment is just a giant waste of time, talent and money.
- T_S_ 16y agoIdeally, the efficient allocation of capital is the smart against nature. However the nature of the current system injects too much noise into the markets, since trades and positions are generally secret, except as occasionally viewed by regulators or post-mortem as in the Madoff case.