Hacker News new | ask | show | jobs
by jliptzin 3409 days ago
I don't consider arbitrageurs parasites. They ensure that I am paying a fair price for my SPY shares.
1 comments

Arbitrage that only exists due to the technicalities of market microstructure is parasitic to me. True HFT identifies trades with no risk; a long and a hedge at the same microsecond. That's just fractions of pennies that true risk takers lose, every day. They don't care at all about the intrinsic value of the security