>"If you weren't doing your job, the net value of the equities and derivatives markets would be pretty much exactly the same; it's just that it would be parcell

>"If you weren't doing your job, the net value of the equities and derivatives markets would be pretty much exactly the same; it's just that it would be parcelled up a little differently." This claim really does require a citation, because it is quite significant, and is not necessarily true. Bethany McLean (author of "All the Devils are Here" and "The Smartest Guys in the Room") once made a great point about people shorting stocks; she said that they are the only ones looking for bubbles, excesses, and other problems in the stock market and asset pricing in general, their vigilance helps to pop the bubbles sooner than they would otherwise, thus reducing the impact of the tumult or recession which may follow.[1] I think this is a valid point, and you should take this kind of action into account when judging these market participants; their motives may not be beneficent, but they are still fulfilling a necessary task. [1] http://www.c-span.org/video/?296214-1/qa-bethany-mclean- http://www.c-span.org/video/?296214-1/qa-bethany-mclean-