No, what the world needs is a system of finance where these "angels" could not earn a single dime by pushing around numbers instead of parasitically skimming billions off the real economy of companies that actually produce stuff, and where they would instead use their intellectual resources to do something useful.
That they use their gains for good is wonderful, but should not be necessary, and is not as great as transparent and accountable charity that is coordinated by democratically determined public policy would be.
The finance market provides needed liquidity. I'm glad these guys took the risk to offer their resources. That they are relatively better at it than you or I is no skin off my back.
They are relatively better at playing a zero-sum game. Not that algo/hft traders are any worse than most of the rest of Wall Street, but it really is skin off the back of retirement funds of every mom & pop.
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The world needs more people like these 3 angels...Great story.
No, what the world needs is a system of finance where these "angels" could not earn a single dime by pushing around numbers instead of parasitically skimming billions off the real economy of companies that actually produce stuff, and where they would instead use their intellectual resources to do something useful.
That they use their gains for good is wonderful, but should not be necessary, and is not as great as transparent and accountable charity that is coordinated by democratically determined public policy would be.
The finance market provides needed liquidity. I'm glad these guys took the risk to offer their resources. That they are relatively better at it than you or I is no skin off my back.
They are relatively better at playing a zero-sum game. Not that algo/hft traders are any worse than most of the rest of Wall Street, but it really is skin off the back of retirement funds of every mom & pop.
Oh those parasites...