# Where's the HFT information gradient?

This is total conjecture; please correct me in the comments, because I don’t understand finance at all. This is from a physics standpoint.

In markets, money flows against an information gradient. Traders with perfect knowledge of a stock’s value in the future can make trades with no risk, yielding the highest expectation values of returns E[R]. Traders with zero knowledge of the stock’s value have the worst expectation value. If the market is *conservative*–that is to say, there is no money added or lost inside the market itself; a stock sells for x dollars and is purchased for x dollars in each transaction, the sum of all expectation values over traders