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Non-Tech : Kirk's Market Thoughts
COHR 197.65+2.5%Dec 10 3:59 PM EST
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robert b furman
To: Kirk © who wrote (1016)4/4/2014 4:03:02 PM
From: Kirk ©1 Recommendation  Read Replies (1) of 26758
 
BTW, we could solve this parasite problem where smart people with good technology stay a step ahead of the law to use inefficiencies in the system to bleed off market cap gains to keep for themselves.

The easiest way would be to put a penny per 100 shares transaction tax on any shares sold before the 3-day settlement period then use that tax to fund the SEC investigating EVERY program that trades stocks. Use it to make sure none of the programs are designed to move the market then profit from this as that is illegal.

The purpose of the market SHOULD BE to create long term wealth from people helping companies raise capital then get a reward when they turn to regular dividend payers as well as reaping rewards along the way as the companies grow.

The market for far too many is a casino or video game where it is zero sum for the players, they add zero value (the "adding liquidity" argument is bullshit as the market was a great investment even when Schwab charged me $50 to buy 50 shares of IBM back in the 1990s...) A small transaction tax only charged on short term traders would restore the market to something good and the video game casino traders can find somewhere else to battle each other for money.

You could argue that going from $50 per trade to $8 and free trades at my broker made my whole method much more profitable and many of the gains I've taken out by trading the ups and down with little to no transaction cost came out of the total market cap...
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