Why haven’t their gains been arbitraged away? Conceptually what they do seems simple enough; and presumably you just need capital to do it. Hell, their own former employees could theoretically compete against them - as could many traders who would pay to learn those strategies.
So why are they still making so much? I don’t understand why their “advantage” hasn’t been arbitrated away into a commodity business.
Why haven’t their gains been arbitraged away? Conceptually what they do seems simple enough; and presumably you just need capital to do it. Hell, their own former employees could theoretically compete against them - as could many traders who would pay to learn those strategies.
So why are they still making so much? I don’t understand why their “advantage” hasn’t been arbitrated away into a commodity business.