I don't think I said anything bad about Wall Street except that when they screw up it causes recessions.
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EG I've heard hedge funds don't outperform the market even though the people who run them make lots of money.
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Also heard there are weird arbitrage opportunities via eg neutrino-based signals (see http://www.nature.com/news/physics-in-finance-trading-at-the-speed-of-light-1.16872 … ) You could get ...
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...really rich off of this kind of thing, but it's unclear how doing that creates value. Is this the exception, or the rule?
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Yep that's one critique of the price-signals-create-value theory: it's hard to say where the economic rents end and the social value begins
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Sure it's good that demand in NYC affects supply in Chicago, but is it really way better for that to happen a few ms faster?
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I'd note that there's all sorts of theory on this sub-question that I'm not well versed in
End of conversation
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