It is Interesting to Contemplate, from Victor Niederhoffer
It is interesting to contemplate the ecology of the grind, the vig, the infrastructure, as the market mistress each day is content with a 12 or 15 point range and 1. 78 million contracts of volume. Apparently this is enough to feed the eagles, hyenas, worms, and detritovores.
Jeff Watson writes:
Better add slippage, market friction, and outright mistakes to the kettle.