> You claim the benefit is "infinitesimal" and I have no idea why or how you would claim this. Where do we see all the genuine long term investors being happy

> You claim the benefit is "infinitesimal" and I have no idea why or how you would claim this. Where do we see all the genuine long term investors being happy with HFT because they benefit so much from them? That's right, they aren't. > Exchanges don't get "clogged" except in rare cases like the facebook IPO. Then why do HFT traders do this? > Pension funds do run HFT in order to hide their trades. They either build it themselves or rent an algo from pipeline/etc. Sure, as I said, either you lose to the HFT middle man, or you lose by having to invest in your own pointless infrastructure in the cat and mouse zero sum game.