At this point I almost want PFOF banned just so $VIRT will crash and I can buy more of it.
Rip the band-aid, get on with market making life & give investors one less reason to sell.
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Why would
$VIRT even drop, much less crash. They would be free to compete on pure execution quality, which would become even more important… I expect that, if it wouldn’t radically harm the business models of some of his clients@Dougielarge would agree publicly…
This is my point exactly - VIRT shouldnt crash but likely would because its lightly traded & misunderstood. If not why else is the stock floundering
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For shareholders, only part of VIRT impacted by share price is buybacks. The more it flounders, the more accretive $300m of buybacks are. Otherwise, business continues as normal. Price will converge.
@Dougielarge just needs go easy on the Feltmans, we want him for next 20 Qs.pic.twitter.com/y6plGgUr0J
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