From: Brian Atkins (brian@posthuman.com)
Date: Wed Jun 30 1999 - 23:00:08 MDT
Are you saying the "market efficiency", helped by day traders,
is a bad thing?
"Eliezer S. Yudkowsky" wrote:
>
> phoenix@ugcs.caltech.edu wrote:
> >
> > What, day trading isn't enough on-line gambiling?
>
> Oh, yes, and did I mention that letting people just bet, outright, on
> which way a stock will go, without actually having to buy anything and
> with no brokerage commission, would probably go a long way towards
> stabilizing the stock market? Which, if you ask me, has major
> volatility problems stemming from people out to make a fast buck.
> Remove the people who aren't actually investors, and the market will
> probably get a lot better.
>
> Even major institutions sometimes buy futures or stocks as a hedge,
> instead of as an investment. In a horse-race-like scenario, you could
> probably get much better odds on hedges.
> --
> sentience@pobox.com Eliezer S. Yudkowsky
> http://pobox.com/~sentience/tmol-faq/meaningoflife.html
> Running on BeOS Typing in Dvorak Programming with Patterns
> Voting for Libertarians Heading for Singularity There Is A Better Way
-- Join the ExI/>H SETI team today: http://setiathome.ssl.berkeley.edu/cgi-bin/cgi?cmd=team_show&id=393------------------------------------------------------------------- "It IS possible." - Vincent, _Gattaca_
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