Even simpler…

21

July, 2009

My partners frequently poke fun at me (ok there is a long line of folks doing this…), specifically for thinking too deeply about a topic, and expressing an idea with too much detail.

I would like to get real simple here. High Frequency Trading is  proprietary computer trading with the goal of collecting rebates, and/or detecting real order flow (ie. institutional flow) and frontrunning it and making pennies.

What bothers me? Two things:

First, whether the market is trading at a 16 P/E,  or a 22 P/E, or a 30P/E… this is decided by 30% of the volume in the market. 70% of

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