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.
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...