A USA Today editorial offers:
In today’s stock market, there are two types of trader.
One, the traditional investor, places a buy order based on a belief that a company will prosper and that its price will rise, or a sell order based on the opposite belief.
The other, the high-frequency trader, deploys massive computer capacity and complex algorithms to buy and sell individual stocks multiple times in a fraction of a second, all in search of micro-profits with each trade. This trader cares not a whit about a stock’s fundamentals.
Trying to scare a public into a fix (whatever that might be) by slamming the use of something other than fundamentals to make trading decisions, especially a public by and large clueless to Fed rate manipulation, bailouts and entitlements that can’t be paid from broke pension funds, is especially Goebbels-esque.
Of course, I know battling the beast is futile:
Note: There are issues with incestuous unions across Wall Street that should be fixed, but are you really waiting for that?