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Since the stock and futures markets do not directly create value, why do they still exist?

Brother, your idea is wrong. The stock market is a way for listed companies to raise funds and use market-based means to strengthen themselves. As for buying low and selling high, that is the individual behavior of shareholders.

In addition, the futures market is actually mainly opened to meet the hedging needs of manufacturing enterprises. This is also the reason why the power of short positions in the futures market is generally greater than that of long positions. That is, the company first sells the company's future products (which have not yet been manufactured), and then waits until the agreed time to buy them back at a low price. This can avoid the price risk of some products with long production cycles. I wonder if you can understand it.