[tptacek]

That's a very self-righteous way of saying "I am not willing to perform a few Google searches and do a bit of reading".

Here, another hint: you can use the search box on the bottom of this page to find comments from me quoting Vanguard.

Either way, since you've accused me now of simply making things up to win arguments, I think I can let you off the hook. There's not much point in us discussing things further.

[Frondo]

I don't think you're making things up.

I also don't think, if it's that simple and obviously good for society as a whole, that it should be that hard to simply explain your position.

[kasey_junk]

I won't speak for him, but I think I can sum up a position that he would agree with very simply:

HFT has made trading cheaper for the vast majority of market participants. It has done this at the expense of the previous regime that was less efficient and more squalid.

Further, don't take my (or his) word for it. Listen to Vanguard which has a sterling reputation for caring for the interests of their clients who tend to be long term, small scale, investors and large pension/retirement funds.

http://www.cnbc.com/2014/04/25/vanguard-chief-defends-high-f...