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To: gsp6181 who wrote (40382)	5/28/2002 10:25:17 AM
From: stomper	Read Replies (1) \| Respond to of 209892

OT: Anyone swinging for the fences is a straight out adrenalin junkie, IMO. BWDIK. -dave

To: gsp6181 who wrote (40382)	5/28/2002 10:33:17 AM
From: GraceZ	Respond to of 209892

Ego, compulsion, meeting some subconscious need? All of the above. The market maker is essentially a trader but they are on the side that has an expected positive return. There are two reasons for the expected positive return. First the obvious one is that they receive the spread instead of pay it. But the less obvious reason is that they are forced by the public action to take the opposite side of the extremes of price movement. It is this less obvious reason that has the greatest effect on their profitability. The public trader has the inverse of their positive expected return, a negative expected return, worse than Vegas. The only ones who keep their profits are those, as in your example who move it to investments or those who quit while they are ahead. Almost no one quits while they are ahead, they tend to quit when they are broke.