I read that as an argument for doing away with stock markets altogether.
Not that I’m a fan of the insane rewards given to the tea leaf readers, nor am I protecting their ‘right’ to those rewards. But I just don’t see what value to stock market can add to the economy (rather than selected individuals bank accounts) if the function can be better performed by an algorithm.
I’m also not, as you can probably guess, a fan of high frequency trading. When this is a viable way to ‘beat’ the market, rather than actual knowledge about the market, then the purpose of the market has fundamentally changed. (I love the applied use of physics, even though I hate what it was used for)
