> and the alpha is sucked up by extended hours traders That's a bizarre claim. If I buy and hold for weeks/months/years, no alpha was sucked from me. If I day

> and the alpha is sucked up by extended hours traders That's a bizarre claim. If I buy and hold for weeks/months/years, no alpha was sucked from me. If I day-trade, well, I get what I deserve if I have no edge or don't understand how the market works. And extended hours trading has minimal liquidity, just because AAPL jumped 10% in after hours doesn't mean someone made billions entering/exiting during this interval, because it's just the market makers repricing minimal volumes.