4 ms·
>So, Knight didn't destroy wealth Sure it did, it destroyed its own wealth. Inefficient redistributions of money almost always destroy some wealth. The obvious
by rm999 14y ago
>So, Knight didn't destroy wealth
Sure it did, it destroyed its own wealth. Inefficient redistributions of money almost always destroy some wealth. The obvious way to see that in this case is that a 440M dollar loss took out 600M dollars of their marketcap.
- tedunangst 14y agoThat's perhaps not the best way to look at things. Two weeks ago Apple made a profit of $9 billion, but somehow still managed to erase $23 billion in market cap. Whose wealth was destroyed there?