1) Except for a few studies in outlier countries (Brazil, South Korea) there is no real hardcore university paper grade study on the performance of retail traders from day traders to swing traders. Those outlier studies show dismal data with a few % traders making a living on par with minimum wage and an almost insignificant fraction making decent wages.
2) Missing also the historical performance of most stocks. At most a couple of papers I was able to track down talk about the performance of stocks since this is public data and show 90% of all tickers went to 0 thoughts the decades and the “blue chips” are responsible for most of the gains in the markets throughout history and those only concentrated in a few short bursts. Again dismal stats.
3) No hard data on algo trading makes up the volume of trading for a particular stock or how much burst volume can influence the price i.e say stock X will move by Y if volume Z of shares per minute is applied.
This info is certainly known to exchanges, but even if secret it would be possible to infer it at least using stats and a scientific method.
This is also a serious matter since 401k and people's retirements ride on all this info. At least #2 and #3 above. After pensions were nuked and the population herded into stocks willingly or not as the 401k were touted as a great way to replace pensions, the same stability and transparency should be given and the same guarantee it will provide the same kind of benefit as pension plans.
In the end the price of a security reflects the price discovery of the underlying asset so independent of those stats mentioned above too… because one shouldn't price it based on the guess on how others price it, right?
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