Market structure should be REQUIRED learning for every serious investor. Market structure changes are responsible for nearly every major market crash in history, and have made fortunes for the companies & investors who can predict these changes in advance. A thread:
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Even the rise of Robinhood is a market structure issue. When Robinhood realized market makers could pay them more than their account holders, they went commission free and unleashed a tidal wave of retail trading on the market.
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If market structure is so important, why don’t more people care? People care about things they can see. Investors talk about GE and Kroger and Disney because they can SEE microwaves and groceries and the Mandalorian. It's harder to visualize a financial operating system.
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I have a passion for understanding & writing about market structure. If you're interested in learning about today's market structure issues with me, consider signing up to my Friday newsletter:https://frontmonth.substack.com/
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