True, each flash trader is competing for profit, but it seems that the typical mutual fund holder, who invests on time scales longer than 24 hours, is uniformly

True, each flash trader is competing for profit, but it seems that the typical mutual fund holder, who invests on time scales longer than 24 hours, is uniformly screwed. Considering that the typical mutual fund holder represents the vast majority of the public, and that flash trading is only profitable for a handful of people, I would guess it is time for a change.