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Overcoming Bias Commenter's avatar

Hi talisman,

Here's Senator Kaufman discussing HFT:

"We cannot simply react to problems after they have occurred. We need the information and resources to identify problems before they arise and stop them in their tracks...[W]e cannot allow liquidity to trump transparency and fairness, and we cannot permit the need for speed to blind us to the potentially devastating risks inherent in effectively unregulated transactions"

http://www.huffingtonpost.c...

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Overcoming Bias Commenter's avatar

Hi talisman,

I make no claim to be an expert in any part of the market. One look at my portfolio will prove that.

The only point of my post was to provide another perspective from what was presented in the original post. And to suggest that blaming the event on imperfect regulations was imperfect, too.

As to your claim that the DOW was down only 600 points, 5.5%, well others disagree. Try this on for size: http://www.ritholtz.com/blo...

Further, my use of the 1000 number was just a reflection of what was in the original post. Mr. Hanson cited the 1000 number. I make no claim to accuracy, but you do. Perhaps you should overcome your own biases.

You agree that market structure needs to be improved. And I agree my few sentences on HFT were a stretch. But I have seen others, much more sophisticated than I, argue that HFT is nothing more than a tax on the market, providing no social value other than making the traders richer.

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