Investors and financial analysts spent decades learning how to read financial markets. They learned how to time buys and how to absorb losses. They refined market instincts through experience.
High-frequency trading firms collected those cognitive artifacts and reconstructed the collective wisdom. They built machines that trade in microseconds. Market “intuition” becomes automated infrastructure.
Many participants unknowingly trained the system that they now trade against. And if they want to adequately compete against the machine they helped build, they will most likely have to pay a subscription fee to a corporation located in a different city, or state, or country.
That’s the rift.
Craig Van Pelt 