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In this thread, it has been said that people on Wall Street aren't creating anything; they are just moving money around, making a profit on arbitrage, etc. I w
by jrp 16y ago
In this thread, it has been said that people on Wall Street aren't creating anything; they are just moving money around, making a profit on arbitrage, etc.
I would like to disagree, and recall the second paragraph of this comment by xxzz: http://news.ycombinator.com/item?id=1242980 http://news.ycombinator.com/item?id=1242980
- aliston 16y agoWhen tied to fundamental underlying assets, investing creates liquidity and capitalizes businesses over the long-term. In its current form, Wall Street "investing" is more like high-stakes short-term gambling. Somehow we got to the point where banks were so leveraged that a single incorrect "investment" nearly resulted in the collapse of our financial system. Is that sort of "investing" creating real value?