News for hackers. Stuff that matters.

A comment on How We Value the Super-Rich - Wall Street vs. Silicon Valley. Parent comment

Re:How We Value the Super-Rich - Wall Street vs. Silicon Valley by gaius on Monday September 29, 2008 @06:49AM (#318255)
Yes and no. The price of AAPL is whatever people are willing to pay for it. AAPL is effectively a currency; Apple can use it to acquire other companies. Without an active secondary market, stock can't play this role at all.
[ Parent | on HN ]
Re:How We Value the Super-Rich - Wall Street vs. Silicon Valley by asdf333 on Monday September 29, 2008 @12:09PM (#318455)
Sure. I am not saying we shouldn't have a secondary market.

I am saying: "Hey if professional traders did not exist, the markets may be a bit slower but it'll still work."

So yes, they provide liquidity but...at least in today's markets the CDO traders are not doing their job on the liquidity front! :)

[ Parent | on HN ]