I got seriously pissed because a bunch of idiots got excited about the number 500 and Apple, so this will probably be my last comment on this thread. Anyway, l

I got seriously pissed because a bunch of idiots got excited about the number 500 and Apple, so this will probably be my last comment on this thread. Anyway, let me tell you this: I work for a (fairly) big 'global macro' hedge fund. Historically we traded fx and rates, but we started (slowly) trading equity last year. The rationale given to our investors was: "the equity market is full of arbitrage opportunities because it is very much a retail market and people tend to trade out of 'gut feelings'. We are not manipulating the market. You are, and we are profiting from it. Suckers.