Ex-NYSE CEO Says Stock Market Is Not Fair

Discussion in 'Stock Market Forum' started by Rainman, Sep 14, 2015.

  1. Rainman

    Rainman Senior Investor

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    NYSE's former chairman and CEO thinks that the stock market is now unfair.

    http://www.businessinsider.com/ex-nyse-chief-dick-grasso-says-stock-market-is-unfair-2015-9
    How unfair do you think the stock market is these days?
     
  2. JR Ewing

    JR Ewing Super Moderator Staff Member

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    Having more money to play with and to be able to afford better technology, better research, and to be able to hire the best and brightest all give one an edge over others, and not just in markets - in pretty much all endeavors.

    Life itself is not fair. As long as everyone follows certain rules - and no one is given preferential treatment by regulators, exchanges, etc - all is fair in love and war IMO.

    If I'm day trading or otherwise aggressively investing with $50k on a personal computer through a 3rd party broker dealer out of my home office in middle America, you're going to have a big leg up on me if you have hundreds of millions or more to trade with, use a multimillion dollar high speed hardware / software automated program, hire a team of brilliant analysts, computer scientists, and researchers, and live in Silicon Valley or Manhattan and rub elbows with Wall Street or tech bigshots regularly and pick up bits of info (legally) that can be very useful to you at some time in the future.
     
  3. SteakTartare

    SteakTartare Senior Investor

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    Indeed, life isn't fair. And the world can be a harsh place. Personally, I am under no illusion that the resources I have can compete with the high rollers. I can, and have, however, meet my investing goals with the resources available. So, meh, I'm not going to sweat it.

    That said, anyone using illegal means to game the system needs to be nailed to the wall. Hard.
     

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