Valores

If they both had a zero informational advantage , their probability of loss is equal. Of course hindsight is a wonderful thing and sitting on your comfy couch after the fact you can say one has won and one has lost , but at the moment of the trade did one party know more than the other?

Dealers become adversaries if they come to know or believe that the huge bid-ask they're charging is actually quite low if you factor in the buyer's knowledge of the stock.So while they work to complete the trade , they know they might be losing too , if you know more than them ( and this is not insider trading stuff , just your astute analysis versus their poor insight )