I'm glad to see a healthy respect for investment among the hacker community. It's traders like this who commit to nearly a full 10 seconds of ownership that are the backbone of economic growth for this country.
Your missing the point that owning part of a company for 10 seconds brings zero social value to the economy. Which I also tend to agree with. Slightly off-topic from the point of the article, which was that he achieved it without backing of a fairly large institution.
I didn't miss that point - I just chose not to address it. Lots of things add zero (or negative) social value to the economy including Farmville or the gazillionth Instagram clone. That doesn't mean they're not worth doing.
And HFT or day-trading does bring some value to the world. It enables companies to go to the public markets and raise capital. And investors to sell their shares without having to wait too long for a buyer. But those positives come along with negatives as well.
True it adds no social value, but it is arguably the ultimate hacker's game :) You can actually add a little social value by placing only orders that increase liquidity; those where someone else "takes out" your standing offer or bid. That and the fact that your profits are taxed as ordinary income in the US for equities at least.
