Trading and Exchanges: Market Microstructure for Practitioners. Larry Harris. http://www.amazon.com/Trading-Exchanges-Market-Microstructure-Practitioners/dp/019

Trading and Exchanges: Market Microstructure for Practitioners. Larry Harris. http://www.amazon.com/Trading-Exchanges-Market-Microstructure-Practitioners/dp/0195144708 http://www.amazon.com/Trading-Exchanges-Market-Microstructur... This does a really good job of explaining how having people fulfilling different roles viz trader, dealer, investor results in being able to buy and sell whatever you want whenever you want. I wish I could send a copy to everyone who thinks flipping second-hand goods on Craigslist is arbitrage.