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Posts by AldenPyle

1. The real reason that trading has become so cheap for retail investors in the last number of years is competition. There used to be one big exchange (pretty much) with strong market power, now there are many exchanges that compete on price. The role of HFT is aligning prices in these different markets to create the advantages of one big market but without the monopoly power. Again, this isn't controversial. Even the critics of HFT insist that they acknowledge this is the...
Well, if everyone agrees that the only sane point of view is that HFT has made markets cheaper, more liquid and better for everyone but especially small traders, then fine.Yes. There are two choices. You sell the shares at the new price in which everyone has full information about the markets valuation or you sell the shares to some chump at the old price because they don't know that a bunch of shares are being dumped on the market. Now, everything is transparent and...
You should try reading the article again. It was written by a large institutional trader, the supposed example of the person who was getting ripped off by HFT, and he said that in his experience the costs of trading keep getting lower and lower. Obviously, ripoffs might still be occurring, but my definition of sane is having some perspective on the overall net effects.The other points areHFT has changed the optimal scale of trading which actually is of greatest benefit to...
This seems like the sanest viewpoint http://online.wsj.com/news/articles/SB10001424052702303978304579475102237652362?mod=wsj_streaming_latest-headlines&mg=reno64-wsj&cb=logged0.3434656218159944
Mostly just curious. Thanks for the response.
What do you mean "just"?
Fair enough. I am sure you know your business.Except the obscure case was not my best argument. It was Piobaire's best argument.
Honestly, this is wild speculation about the behavior of an anonymously quoted person in an obscure passage of an obscure article in an obscure journal. Who knows or cares what this guy did.On the other hand, this is an incredibly presumptious and tedentious statement about the general nature of the job market in your profession directed straight at you. It would be a lot more interesting if you responded to this either way, since none of us knows anything about it but you.
Let me just say, I appreciate this serious response. I will try to respond point by point despite Douglas lame insult at the begiinning.All academic job offers are referred. That is not even a question. You still have not addressed how you would responded to a referred job offer. Why such bad faith?But let's pretend it were the case, and that it did matter.I have stated over and over again that rescinding a job offer violates the rules of the game. Not playing by the...
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