My point is that they can, to a degree. The bigger challenge for them is scaling in and out of the size of positions they need to be in to be profitable. If yo

My point is that they can, to a degree. The bigger challenge for them is scaling in and out of the size of positions they need to be in to be profitable. If you’re playing with thousands, you’re playing a completely different game than someone playing with billions. You don’t have to strategize about how to exit. You just exit. Many hedge funds outsource the execution of their trades to HFT, which scales in and out over days. Google Archegos if you want to see what happens when you liquidate billion dollar positions in a hurry.