Catalog
#market-structure
4 entries tagged “market-structure”
M001
80%
Index Fund Reflexivity
“Passive index investing beats active management and is the optimal strategy for most investors.”
+35pppassive share of us equity market+15pps&p 500 concentration (top 10 stocks)
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M004
85%
Liquidity Illusion
“Markets are always liquid enough to exit positions at reasonable prices.”
+1000%normal bid-ask spread-90%order book depth during stress
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M014
85%
Algorithmic Trading Herding
“Algorithmic trading provides market efficiency and better price discovery.”
Improvedaverage bid-ask spread+500%flash crash frequency
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M024
80%
Meme Stock Market Structure Distortion
“Retail investor coordination democratizes markets and levels the playing field.”
90%+ lost moneyretail traders who profited from gme+73%pfof revenue for market makers (2021)
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