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Wall Street used to bet on companies that build things. Now it just bets on technologies that make faster and faster trades.
- It is axiomatic that all trades are a net benefit to the economy because they enhance “liquidity,” the ability of investors to buy or sell assets at the best price.
There is no best price when the trade is agnostic to the company. There are just prices. This is both gambling and competition, but there's no investing involved.