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The stock market runs on an exchange, which is implemented in software, instanced in hardware, managed by people, and subject to government oversight. You may not have intended to, but you just asserted, among other things, that that system is perfect. Please re-read my statement in this light, and try to see if you can find a way to agree with me: "A market is a system which can have temporary flaws." Okay, now that you're probably agreeing with me, but concluding that I'm being pedantic... Let me try to bring you back... If the system itself causes a flaw, which affects prices. So, if I want to relate to you, an IDEAL market behaves the way you're describing. Maybe no regulators needed. An ACTUAL market behaves the way I'm describing. Regulators needed. Once you agree with that, at least, maybe we can debate how BIG of an impact practical considerations have, and how large of a role regulators should have. |