Confessions of a market maker
"[The] inherent power of position enables the MMs to move the markets at any time up or down. As a result, the only way to draw them out of their favorable position is going long."
#finance #financialmarkets #stocks #marketmaker #citadel #crime #fraud #manipulation
What even is the purpose of a #marketmaker?
The market makers like to pretend that they are fundamentally important financial institutions that exist to serve the interests of others, but that is the furthest thing from the truth.
A market maker performs the functions of a bookie. They facilitate #gambling within financial markets.
https://www.reddit.com/r/Superstonk/comments/139mgik/the_vig_the_spread_the_fall/
History doesn't repeat but it rhymes.
There was once a major criminal fraudster named #BernieMadoff that simultaneously ran a #marketmaker business and a #hedgefund, despite this being a conflict of interest and providing a totally unfair advantage against his competitors, enabling him to perpetrate criminal fraud for decades.
There is another criminal fraudster today named #KenGriffin doing that same thing: simultaneously operating as a hedge fund and a market maker.
https://www.reddit.com/r/Superstonk/comments/10fbuu2/history_doesnt_repeat_but_it_rhymes/
