ROARING KITTY GME STOCK AMC STOCK “STEAMROLLER COMING”

so you're making 5,000 trades without losing money no one looks into this but roring Kitty makes one profitable trade and everyone is up in arms you could have you know 4,000 trading days without a single day's loss something's a little weird right I mean so and but it hang yes but let's rewind the clock to pre-1975 when there weren't really market makers the way there are now there were you know trading was a largely an agency business this is before Gus Levy and before the arbitres at Goldman Sachs and Robert Ruben um they didn't lose any money either you don't lose any money as an agency Trader oh that's not it's not true that they didn't lose any money when they when when you rewind the clock I mean it I mean I worked on Wall Street the Solomon Brothers the Traders would have down days and they have up days and they just hoped the up days were better than the down days uh but they were putting money they were R and they were putting money at risk they the position they were taking I mean I'm not saying that was pure and innocent and great either right I mean but they were different problems in different days but but the the the role they were playing was a buffer in the market they they they were they're playing the role that Brad Brad katsuyama played at RBC that someone needs to sell a million shares of something and the market won't isn't ready for that they'll sit in the mid you're actually here's one I'll phrase it as a question instead of making a statement would you acknowledge that your critics perhaps are have a one Fair Point which is that it's hard to generalize that much of what you're talking about much of the people whom you identify as the victims in the book are by and large institutional Traders some of them are mutual fund managers like so can I stop you there can I stop you there I'm sorry but in the book there's a long interview with the guy who spent years selling the order flow for TD amerit trade I mean that is not that's not in that's not institutional investors that's you and me that's Mom and Pop and he and he and he says he says what's the most valuable order for a high frequency Trader to exploit it's a market order from an individual investor because the individual investor has such has such a slow feed basically and so no it's true now what is true if the order is aund share order it's probably not that big a deal it's not that big a deal uh that's true but well a lot of retail orders are 100 shares but who manages the savings of most people in America it isn't people trading 100 share Lots on the and on E trade or Amit that it it is mut funds F be careful be careful who you defend here actively managed mutual funds right we could talk about the passive ones SE actively manage mutual funds on the whole do a terrible job of overseeing Americans money right they they fail to beat the market more than 50% of the time and they charge a fee on top of that are they do I mean here we were going to get down to this but let's do it now how how do you decide who to put the white hat on so Michael Lewis actually bring another confirmation after confirmation that we already heard that when you have payment for all the flow there are many things that could go wrong and play against individual investors he was actually referring or citing a former Trader for tdma trade saying that everyone on Wall Street knows that the retail investors trading flow it's actually the most important one simply because individuals are not sophisticated they don't try to extract as much as value of their trades placing Market orders they don't really pay attention to the cost bases or in most cases they don't even use stop losses so the losses that they can actually bring on the table which will turn as a profit for the other side of the trade are simply very very sweet and easy for the hedge funds he also highlighted that a lot of high frequency Traders are not losing money why is that right when you look at the numbers when you look at the data they're simply scraping the stock market it's like going on the open Google Search and scrape all the Gmail accounts associated with x amount of people for example you type Google you type Finance accounting and you're going to scrape all the Gmail accounts that are related to finance Accounting in the niche itself without doing the hard work on its own they were referring to something very similar trading hundreds of millions of shares per trading session making a couple of cents here and there ends up the days with millions of dollars in profits and the lady from Bloomberg said I only respect people who have the chance to lose money on the stock market you know remember we talked about this earlier when you have the real time data that is faster than the data that appears on your broker account or a home right you look at the pricing of the stock is $10 and you're waiting for some price moves there people having the real time data which they know exactly where the stock will be in five minutes time right or 10 minutes time or you know sometimes more in advance so there is a risk-free trade for these people who know that in five minutes the stock will go down 10% or up 3% so if you know exactly what is going to happen you're risking nothing at this point the question is who has this data and how they get their hands on this data remember in the book flash Bo from Michael Lewis he had a plenty of interviews with people from the industry indicating how important is to locate your office your trading facility the closest possible to The Exchange and the thing is that the trades are no longer happening in the exchanges they're happening in the data centers which are not even located in the city anymore so things have moved to a complete different level you have to be very close to the actual data center to be able to get your information very very fast how fast I really cannot tell you guys but definitely people who are located closer to the data centers will be trading much faster and getting their information much faster than anyone who is located somewhere else and this is way before we had the AI automation being able to have your own trading bot in installed now probably these people have an algorithm that is run by Bots being able to execute even three four five times the amount of shares or trades per session which means that the potential profits that these people are making it's it's upwards a 5 67x at least remember the only people who are making money when the stock market is sideways are only the high frequency trading systems you know because there is no volatility you can simply cannot make that much trades that faster because the slow down the momentum is simply putting you into the position to trade on one minute chart and if you don't have substantial Capital you simply are enforced to stay on the sidelines but this high frequency trading firms are trading with millions of dollars which means that even small increments of couple of cents right it will turn out as a very potential profitable day versus sitting on the sidelines and doing nothing I don't know guys it's it just appears to me that there's so much uncertainty on the stock market and when there's uncertainity people don't feel comfortable putting their money on the table and I completely agree and understand that because so many people got wiped out right they wiped out on good stocks they wiped out on bad stocks as well and you kind of wonder if that's the case how you can even trust the fair and just value of of particular stocks and last but not least Michael Le said that the biggest risk for individual investors money are the money that are put into this retirement investment funds where they're placing a big lots of shares for repurchasing which is the the biggest uh know Target for payment for order the FL he said that if you place $100 order or $200 order it's not so much money to be made for the wholesalers or for the 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