Well I suppose traders are samathing as passive investor just on a much shorter TF? That is they serve the same purpose?
Neither is a parasite. The author is just a bitter folk who is whining that he lost money in the markets. Because nobody who made a bunch of money in the markets would write such crud.
I hinted at it. I find trader behavior much more parasitic than investor behavior. One is giving a 1"loan" to make a company grow. Of course a company would not be able to cash in those loans without traders
This part is driving me nuts looking at the markets. There is so much money going into these highly correlated investments which is (supposedly) being constantly driven higher by actions of the Federal reserve. Obviously, once interest rates rise we get a huge crash. But outside of that, is there anything that can stop this bubble? Inflation is measured by the Fed using rich people measures so we get two economies (c.f. Dalio). So inflation will never rise until we get issues that affect rich people, i.e., wages of the minions. But that isn't out of control yet, at least outside the FAANG-MS bubble. The only hope we have for interest rates rising, causing a stampede-like exit from these correlated positions is wage inflation, at least as far as I can tell. And we aren't seeing enough of that yet according to Powell. Besides, automation may push that out further yet. What else? TL;DR, the bubble has at least two more years but I have no idea what will pop it.
You've never heard of The Invisible Hand, have you. That's your assignment. "Capital Mobility"; Friedrich von Hayek; Adam freeking Smith.