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If you aren't changing the sentiment, then it is a zero sum game based on the current sentiment.

Adjusted to average growth of stock market (and inflation), it is a zero sum game. You aren't creating value by predicting the future. Just like you don't create value when you predict which lottery ticket will win.




As it turns out, there are at least 2 ways you can create value to society here:

1) Reduce spreads.

2) Stabilise prices.

Now, whether it makes any sense to put to work all those bright minds for these purposes, is a question the society should have asked some time ago...




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