4 ms·

I do not view pension funds as a more legitimate use of the market. The market as a whole is completely zero sum in my view. And of course the CME group has a

• colonCapitalDee 2y ago
  > The market as a whole is completely zero sum in my view. How is it even possible to believe this? How do you think societies should manage their resources and plan for the future, if not a market? Soviet style central planning, or a cash and barter only economy? And if the answer is that we should have a market, then the market is providing some utility (because if it was providing neutral or negative utility then why have it) and is therefore not zero sum.
• creer 2y ago
  You must be aware somewhere that both sides of every single trade are in it because they find a benefit in that trade, right? Some need the cash, some need to turn cash into investments, some are changing their minds from favoring firm A to favoring firm B, etc, etc. All the way to pension funds ... doing the exact same thing. You can imagine other ways to do it (but good luck making these other ways "fair" or "efficient" or "fast") - or you can recognize that a market is an elegant (in the engineering sense) way to do it. Once you have a market, you also want liquidity. Anyone who tried buying or selling illiquid shares (or illiquid goods), knows how much of a pain is lack of liquidity. It truly is desirable.