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It doesn't matter much, but it does matter. You can get a financial advantage if you get information early. (The comedy film Trading Places gives a remarkably
by jfengel 2y ago
It doesn't matter much, but it does matter.
You can get a financial advantage if you get information early. (The comedy film Trading Places gives a remarkably accurate depiction.) If something drops early, those who notice get an advantage over those who didn't. That throws off the balance of calculations, hedges, etc. designed on the assumption that the data would come out at time T rather than T-:30.
It's not going to be a huge thing. Maybe some funds lost or gained a million dollars -- a tiny piece of their trillion-dollar capitalization. Maybe you personally could have lost a few dollars in your retirement account. Not enough to get angry about, but not going to thrill you, either.
So it's not a crisis. But they will make sure it doesn't happen again.