I 100% agree with that breakdown. But I disagree that the game perspective "matches the market".
The beauty of the marketplace is that there are all types of people in the sandbox: fundamentals, macro, hedgers, short-sellers, punters, high-frequency traders, mean-reverters, money managers, pension plan managers. And all of these people have slightly different time horizons ranging from microseconds to years.
The market concept is this beautiful thing that supports all these people: aided by strong regulation, strong oversight, and better technology.
The beauty of the marketplace is that there are all types of people in the sandbox: fundamentals, macro, hedgers, short-sellers, punters, high-frequency traders, mean-reverters, money managers, pension plan managers. And all of these people have slightly different time horizons ranging from microseconds to years.
The market concept is this beautiful thing that supports all these people: aided by strong regulation, strong oversight, and better technology.