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>We can remain retarded longer than they can remain solvent. There is a tremendous amount of spite involved here. They hate the boomers, and they hate the ins

>We can remain retarded longer than they can remain solvent. There is a tremendous amount of spite involved here. They hate the boomers, and they hate the institutional wallstreet investors and hedgies. And why shouldn't they? These people play with our lives and get fantastically wealthy by gambling with our retirement accounts. I saw that some hedge fund got wiped out today by this. Sorry I won't be shedding any tears over that. Maybe the hedgies should have to learn to code.

Spivak 6y ago
> These people play with our lives and get fantastically wealthy by gambling with our retirement accounts. I’m actually kinda confused by this. Are we not rooting for them in some respect? As long as I make money too and my retirement account grows what do I care if they take some off the top? The returns I get are way better than I could get on my own.
- samjmck 6y ago
  > As long as I make money too and my retirement account grows what do I care if they take some off the top? You should care because for long term investing, an actively managed fund is very likely to underperform the market. The vast majority of hedge fund managers aren't doing anything that you couldn't do yourself, i.e. pick a few stocks out of the S&P 500 and hope that they outperform the market. > The returns I get are way better than I could get on my own. Look into index based ETFs. They simply track an index so your performance is equal to the market's, so no handpicking stocks or gambling. They are traded like stocks, so you can probably buy them with your broker. The best part about them is that they have almost no fees - the most popular ETFs cost 0.10-0.20% per year. If you're American and believe that the American stock market will continue to outperform the rest of the world, then an ETF like SPY (tracks the S&P 500) would be a good bet. If you'd like something more diversified, have a look at funds tracking indices like the MSCI World or FTSE All-World.
  - valzam 6y ago
    Quick note: There is also FTSE Developed World, which has outperformed All-World over the last few years AND has a lower TER than most All-World indeces. You can always hold 10% Emerging Markets + Developed World.
    - samjmck 6y ago
      The FTSE All-World has returned 82.5% over the last 5 years, while the FTSE Developed has returned 82.9% [1]. The difference is neglible if you ask me, and 5 years isn't that long anyway. The fees depend on the ETF you buy - in Europe, the difference between ETFs tracking All-World and Developed is around 0.08%. The biggest difference is that the Developed index "only" has 2000 stocks instead of the 4000 of All-World. Another issue in Europe is that the accumulating ETFs (more tax efficient in most countries) tracking the Developed index have low liquidity. 1. https://research.ftserussell.com/Analytics/Factsheets/Home/DownloadSingleIssue?issueName=AWD&IsManual=false https://research.ftserussell.com/Analytics/Factsheets/Home/D...
- SifJar 6y ago
  And likewise - if they lose loads of money, isn't that a bunch of people's retirement accounts? We're not just talking about some Wall Street traders losing some money (who can likely afford to), but regular people may suddenly be finding they can't afford to retire as soon as they had planned.
  - Miner49er 6y ago
    Do regular people have their money managed by hedge funds? I thought was just for the rich.
  - pseudo0 6y ago
    Hedge funds are only allowed to manage the money of accredited investors, people with over $1 million in assets and sophisticated financial knowledge and experience. So when a hedge fund screws up, its investors might have to put off getting a new Ferrari for a year or two, but no one is ending up destitute.
    - SifJar 6y ago
      Ah my mistake, I thought hedge fund clients would include pensions etc.
PartiallyTyped 6y ago
Yes it is out of spite. I am up >200% in January, with all of my life savings, and I am willing to lose everything so that they bleed and they lose everything. I have nothing to lose because I am used to living with nothing. I have but my chains to lose. The '08 crisis was in part for a similar reason. Some hedge funds shorted housing stocks and crashed everything. We were at the risk of losing our home, my mother working for the gov was unemployed, she went to the private sector and they squeezed the life out of her. They bring nothing useful back and play god without permission.
- asiando 6y ago
  What a joke. You’re willing to go broke so they lose 2% of their capital? Good job.
  - PartiallyTyped 6y ago
    I am already broke. The money I invested isn't enough to change my life, but the returns are. I can fast for a week or two, I can walk to school instead of taking the metro. I am poor af and they can't take that away from me. But you know, melvin capital is already 30% of their equity down in January. They have everything to lose. I have nothing.
    - nomay 6y ago
      >melvin capital is already 30% of their equity down in January The thing is, they won (bigly) almost every year since their inception, it's a relatively minor mishap for them even if they gain nothing for the rest 11 months. Guess what, they and their clients will be laughing their asses off and move on along with their high life.
      - PartiallyTyped 6y ago
        They are employing every trick in the book, they have vilified retail, they are launching ladder attacks, they (citadel) are exploiting information about stop losses set up by users, they keep funding articles and smearing the people. This isn't how somebody in control acts. They even doubled down on their position and increased the number of shorted stocks in the previous week.

Spivak 6y ago

> These people play with our lives and get fantastically wealthy by gambling with our retirement accounts. I’m actually kinda confused by this. Are we not rooting for them in some respect? As long as I make money too and my retirement account grows what do I care if they take some off the top? The returns I get are way better than I could get on my own.

samjmck 6y ago
> As long as I make money too and my retirement account grows what do I care if they take some off the top? You should care because for long term investing, an actively managed fund is very likely to underperform the market. The vast majority of hedge fund managers aren't doing anything that you couldn't do yourself, i.e. pick a few stocks out of the S&P 500 and hope that they outperform the market. > The returns I get are way better than I could get on my own. Look into index based ETFs. They simply track an index so your performance is equal to the market's, so no handpicking stocks or gambling. They are traded like stocks, so you can probably buy them with your broker. The best part about them is that they have almost no fees - the most popular ETFs cost 0.10-0.20% per year. If you're American and believe that the American stock market will continue to outperform the rest of the world, then an ETF like SPY (tracks the S&P 500) would be a good bet. If you'd like something more diversified, have a look at funds tracking indices like the MSCI World or FTSE All-World.
- valzam 6y ago
  Quick note: There is also FTSE Developed World, which has outperformed All-World over the last few years AND has a lower TER than most All-World indeces. You can always hold 10% Emerging Markets + Developed World.
  - samjmck 6y ago
    The FTSE All-World has returned 82.5% over the last 5 years, while the FTSE Developed has returned 82.9% [1]. The difference is neglible if you ask me, and 5 years isn't that long anyway. The fees depend on the ETF you buy - in Europe, the difference between ETFs tracking All-World and Developed is around 0.08%. The biggest difference is that the Developed index "only" has 2000 stocks instead of the 4000 of All-World. Another issue in Europe is that the accumulating ETFs (more tax efficient in most countries) tracking the Developed index have low liquidity. 1. https://research.ftserussell.com/Analytics/Factsheets/Home/DownloadSingleIssue?issueName=AWD&IsManual=false https://research.ftserussell.com/Analytics/Factsheets/Home/D...
SifJar 6y ago
And likewise - if they lose loads of money, isn't that a bunch of people's retirement accounts? We're not just talking about some Wall Street traders losing some money (who can likely afford to), but regular people may suddenly be finding they can't afford to retire as soon as they had planned.
- Miner49er 6y ago
  Do regular people have their money managed by hedge funds? I thought was just for the rich.
- pseudo0 6y ago
  Hedge funds are only allowed to manage the money of accredited investors, people with over $1 million in assets and sophisticated financial knowledge and experience. So when a hedge fund screws up, its investors might have to put off getting a new Ferrari for a year or two, but no one is ending up destitute.
  - SifJar 6y ago
    Ah my mistake, I thought hedge fund clients would include pensions etc.

PartiallyTyped 6y ago

Yes it is out of spite. I am up >200% in January, with all of my life savings, and I am willing to lose everything so that they bleed and they lose everything. I have nothing to lose because I am used to living with nothing. I have but my chains to lose. The '08 crisis was in part for a similar reason. Some hedge funds shorted housing stocks and crashed everything. We were at the risk of losing our home, my mother working for the gov was unemployed, she went to the private sector and they squeezed the life out of her. They bring nothing useful back and play god without permission.

asiando 6y ago
What a joke. You’re willing to go broke so they lose 2% of their capital? Good job.
- PartiallyTyped 6y ago
  I am already broke. The money I invested isn't enough to change my life, but the returns are. I can fast for a week or two, I can walk to school instead of taking the metro. I am poor af and they can't take that away from me. But you know, melvin capital is already 30% of their equity down in January. They have everything to lose. I have nothing.
  - nomay 6y ago
    >melvin capital is already 30% of their equity down in January The thing is, they won (bigly) almost every year since their inception, it's a relatively minor mishap for them even if they gain nothing for the rest 11 months. Guess what, they and their clients will be laughing their asses off and move on along with their high life.
    - PartiallyTyped 6y ago
      They are employing every trick in the book, they have vilified retail, they are launching ladder attacks, they (citadel) are exploiting information about stop losses set up by users, they keep funding articles and smearing the people. This isn't how somebody in control acts. They even doubled down on their position and increased the number of shorted stocks in the previous week.