I spent the last few days with some of the finest Americans I could ever imagine. Owatonna Minnesota was ground zero for me. In my wildest dreams I couldn't find a nicer bunch in one place. Over many conversations each day one common thread kept coming up.
It went like this. I'll make it simple. Main Street doesn't trust Wall Street.
It's probably best summed up by one of the fine crew at Themis. This is what Joe Saluzzi had to say.
"This is people’s money. This is 401(k)s. Grandma’s mutual fund is now being whipped around by algos that don’t even understand what they’re doing,” said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey."
“How many more dollars (will) now have to come out of the market because people don’t trust it?”
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