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People are more savvy these days than the old days. This can help more than it hurts.
by xwdv 6y ago
People are more savvy these days than the old days. This can help more than it hurts.
- joosters 6y agoAny evidence for this? The stats seem to show the opposite, e.g. there has been 3x as much money lost to ponzi schemes pre -> post-Madoff :https://www.nytimes.com/2019/09/22/business/ponzi-scheme-bernie-madoff.html?action=click&module=RelatedLinks&pgtype=Article https://www.nytimes.com/2019/09/22/business/ponzi-scheme-ber...
- gojomo 6y agoIndeed - and neither the accredited investor law nor the SEC's other enforcement have helped. So maybe letting non-wealthy people invest into the exact same well-documented, scrupulously-legal above-board deals in which wealthier people have always been allowed to invest could be better than the traditional-but-totally-failing paternalism?
- AlexandrB 6y agoConsider this as a counterexample: https://arstechnica.com/cars/2020/11/nikola-stock-soars-after-confused-investors-think-gm-deal-has-closed/ https://arstechnica.com/cars/2020/11/nikola-stock-soars-afte...
- dragonwriter 6y ago> People are more savvy these days than the old days. As compared to the complexity of available investment schemes, no, they probably aren't. On the other hand, "licensed investment advisors and people currently working in investment-related roles in financial firms" are probably more savvy about investing, as a class, than "people who happen to have more than $1M in assets or $200K in personal or 300K in personal+spouse income".
- joshmn 6y agoI'd beg to differ. It seems to me that these days, a domain name, WordPress install, and Facebook allows for anyone to be an expert or whistleblower anything and everything.