Hm, call me a Luddite or a communist or whatever, but i fail to see how this type of pursuit, broadly speaking, is of any benefit at all to society at large. In fact, i would argue (while simultaneously admitting that i am not an expert / economist, so i am open to comments) that trading this way is dubious to say the least. All i mean is, where is this guy's massive profit coming from? Surely to a certain degree there must be a law of conservation of cash? Is it really only coming from other traders like him, but who in that instance happened to make a bad decision? In other words, i would say it would perhaps not be that bad if the pool of cash from which such traders were fishing were entirely made up of inlay by other such traders, such as would be the case at a casino at a poker table... What i'm trying to enunciate is a vague uneasiness that somehow, making so much cash without contributing anything to society seems... Unfortunate, to say the least? Isn't there something useful somebody like that could do, instead of amassing a fortune by "gaming the market"?
I have nowhere near enough knowledge on the subject to suggest a workable method of regulation or anything like that, but i really wonder how something that boils down to somebody gaming the market (as somebody else said, the only gambling which is legal in all states) to the tune of millions is anything but detrimental.
It has always been a fantasy of mine that a boatload of 25 brokers would be shipwrecked and struggle to an island from which there could be no rescue. Faced with developing an economy that would maximize their consumption and pleasure, would they, I wonder assign 20 of their number to produce food, clothing, shelter, etc., while setting 5 to trading options endlessly on the future output of the 20?
I have nowhere near enough knowledge on the subject to suggest a workable method of regulation or anything like that, but i really wonder how something that boils down to somebody gaming the market (as somebody else said, the only gambling which is legal in all states) to the tune of millions is anything but detrimental.