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Earlier quoted context omitted.
Yeah its funny, I still read outrage about those greedy "HFT players", as if HFT was still highly relevant. It was a blip in time of the financial markets when no one had high speed trading but a few. The alpha has been washed away.
> The alpha has been washed away. whats that mean? so what are quants on the street doing now?
Earlier quoted context omitted.
I don't dispute that HFT can reduce spreads. The question is whether that benefit may come at some expense to smaller investors. See the previous link I posted. Also, of course, "Flash Boys" by Michael Lewis. There is no shortage of discussion around this question.
How does that question even make sense? By definition, the spread is a tax investors --- including small investors --- pay to buy or sell a holding. In what way could they possibly benefit from wider spreads? Regarding Flash Boys: I don't know of a single person who works in trading who has stuck up for that book. I strongly recommend "Flash Boys: Not So Fast", which debunks it but is also much more interesting from…
Never said that.
We seem to be having trouble communicating. It happens. Thanks for the discussion.