"Yes, you can make money for a long time by arbitraging the markets with millisecond responses..." : Why not forever?

TBH, I don't like HFT much either. But, while it definitely increases (very) short term volatility and look to screw other participants over, I think sentences like "HFT and other computerized trading is why all the fundamentals--discussed endlessly by the financial media are now irrelevant" are incorrect. If HFTs want to be flat by days-end, every day, by definition, they are not affecting the LT price of a given company...

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