Says the big boys. MMs are middlemen between the buyer and the seller. Put there to cream off profit, nothing less.
In the computer age there is no need for MMs. Period. Need MMs? Hog wash. Bid and sell come from the buyer and the seller. You want what I have, how much you offering?
Brokerage firms are, IMO, necessary. Nothing else. WWW would take care of the rest. Instant knowledge. Go in low. You get the shares or not. Not, you bid more until you do....if you want it that bad. If not, stand pat. If a seller is hard up and willing to sell for less to get it...
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