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You may be a market timing genius and/or unicorn day trader but generally speaking nobody beats the market and nobody should be moving their own nest egg around
by jonahbenton 7y ago
You may be a market timing genius and/or unicorn day trader but generally speaking nobody beats the market and nobody should be moving their own nest egg around, which usually only makes the brokerages money.
- repolfx 7y agoSo the transaction fees get passed on to the people who buy into the funds (except, buying into a fund is also a "financial transaction" so may also end up being taxed). Moreover this logic seems to assume HFT is useless. It's a source of liquidity. Everyone who directly or indirectly invests in the stock market ends up paying for higher liquidity - it's just a case of how easily you can see it.