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Comment Re:Yes, that's why they bought Hull Trading. (Score 1) 185

the "flash crash" of 2010 was exacerbated by loss of liquidity as automatic traders pulled out because volatility exceeded parameters.

Humans panic. Computers don't.

Boy. That sure looks like what happens when humans panic. If the result is the same, what's the difference?

Comment Re:Managers and engineers (Score 5, Informative) 185

HFTers always harp on the liquidity thing. News flash, while liquidity is important, it's not the purpose of the market. Equal access is much more important.

And HFTers absolutely grab profits from everyone else making trades. On the average, HFT makes money. It doesn't make it by finding a customer or building a product, therefore it must come from other traders, Q.E.D.

It's like I'm in the supermarket reaching for an orange and some guy swoops in and buys all the oranges in the store and all the neighboring stores as well and then offers to sell me my orange for a penny more than the prices on shelf. "But," he cries helpfully, "I did you a favor because you can choose from three times as many oranges now!" I just wanted my damn orange for the listed price.

Comment Re:Have they added DRM yet? (Score 1) 303

There is also no way to record to an analog medium without loss of information. The question is, which loss is greater? The answer is, the loss to vinyl is greater than the loss to CD.

Back when CDs were new technology, people were going to great lengths to try to make the most perfect recording possible. I have an early CD of 1812 overture recorded using actual cannons. It is amazing and exceeds anything possible with vinyl. Because back in 1984 only audiophiles were buying CDs, great care was taken to deliver a high quality product.

However, once the masses started buying CDs no care was taken any more and we started having the loudness wars which threw out the very thing that CDs offered: greater dynamic range (i.e. from very quite violin solo to actual 17th century cannon).

Today, the tables are turned. Audiophiles are buying vinyl and the masses are buying compressed streams. Therefore, great care is taken to deliver a high-quality vinyl product.

Few doubt that a quality recording pressed to vinyl is going to be better than slapdash work pressed to CD. There is more to sound reproduction than the medium used to deliver it.

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