Which is nobler: short-term trading or long-term investing? Actually, that's the wrong question.

What role do short-term traders play in the market? Providing liquidity and driving price discovery—these are all necessary conditions for the market to function properly. Without these participants, what would the market look like? It would be almost impossible to trade.

What are long-term investors doing? They provide sustained capital, giving companies and projects enough room to grow, which is also very important.

To put it simply, everyone is in it to make money; the starting point and purpose of participating in the market are the same. In this process, both short-term and long-term activities create value. What about moral high ground? The market doesn't need moral judgments; it only needs participants to do their respective jobs.