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> This lawsuit will go nowhere. At best a tiny settlement after years of litigation. Congress will have a few hearings for show, so reps can get face time and c

> This lawsuit will go nowhere. At best a tiny settlement after years of litigation. Congress will have a few hearings for show, so reps can get face time and claim to be "for the people". SEC will wag their finger, might even levy a few hundred thousand in fines. This will be the end of wall street. Or at least, the end of companies like Robinhood. Faith in American systems were already at all time low after last four years and now with this kind of market manipulation at the expense of retail investors, American stock market will be bust. There is zero reason to play in this casino.

dheera 6y ago
Unfortunately the odds of winning in the stock market even buying random stocks are still way better than a real casino, and casinos are still around.
- Andrew_nenakhov 6y ago
  Casinos are OK. Gambling is a special tax applied to people with bad understanding of the probability theory.
  - thatguy0900 6y ago
    I feel like the people who say this have never been to a casino, they're pretty fun. I would wager most people going know they will lose money. Gambling addiction is a real problem, though.
    - rootusrootus 6y ago
      I've only been once. Even knowing I would lose money, I still found the loss/fun ratio really awful, and when I walked out of there I knew I'd never go back. For that kind of money I can buy toys I actually get to keep, or buy an experience worth remembering. Gambling socially, I enjoy. Playing poker with the guys, typically. But the stakes are absolutely tiny, so we really are just playing for fun.
    - Andrew_nenakhov 6y ago
      I knew some gaming addicts. Each and everyone of them was living with feverish hope to win big one day. However, I believe that everyone has a sacred right to destroy themselves in any way they like. If they choose to ignore conscience and indulge in gambling, it is on them.
  - pc86 6y ago
    Preface: I'm totally in favor of people going to casinos if they want to. People say this and chuckle about how witty they are but it's the only "tax" that we let billionaires extract from the poor and act like we're okay with it.
- deleted 6y ago
  [deleted]
- throwaway2245 6y ago
  If you got a bunch of spare money and spare time, enjoy the casino. If you got a bunch of spare money, enjoy the stock market.
linuxftw 6y ago
Wallstreet feeds off of 401ks and municipal pension accounts. Retail investors can't influence the market broadly. Americans aren't going to stop putting money into 401ks and 401k administrators aren't going to stop shoveling money into their friend's 'funds.'
hi5eyes 6y ago
or the media steps in and runs damage control all they have to do is lie for a few months and people will completely forget hell, even if they have to lie for a few years, they already did that with ebil organge man and it only made the public trust them even more pension funds arent going to stop putting money into private equity, today will just make people less inclined to go retail I could see a lot of money leaving wall street for emerging markets over the next 10 years but I dont think a full divestment from american markets will happen in my lifetime
xwdv 6y ago
Where else are you supposed to put your money? Bonds? Real estate? A bank savings account? Good luck. People will not be able to live with their own failures. And where will that bring them? Back to stocks.
- drcross 6y ago
  Crypto enters the chat
  - nine_zeros 6y ago
    This. Alternatives exist and will be created as faith in America keeps falling. The world hasn't run out of smart people.
  - robntheh00d 6y ago
    Hedge funds already game crypto. At the root it’s nation state currency being manipulated. Like in 2008. Privatize the gains and socialize the losses. The entire ledger needs a wipe. It’s pure emotional bias to suggest the future is obliged to carry the debt of the past. There’s nothing in science suggesting such a truth exists.
ThisIsTheWay 6y ago
Robinhood could shut their doors tonight and it would have little impact on Wall St. or the American stock market. Robinhood isn't even in the top 5 for online brokers in terms of assets under management (AUM). Vanguard, Schwab, BAML, Fidelity, and Ameritrade are literally handling trillions of dollars (that's trillions with a T) [0], while Robinhood is estimated to be managing ~$20 Billion. [1] Sure, you could argue that's not all "retail investment", but they are not even in the same ballpark. [0]: https://www.fool.com/the-ascent/research/online-brokerage-statistics/ https://www.fool.com/the-ascent/research/online-brokerage-st... [1]: https://www.brokerage-review.com/investing-firm/assets-under-management/robinhood-aum.aspx https://www.brokerage-review.com/investing-firm/assets-under... EDIT: Added concession in last line that not all in the top 5's AUM is retail, but the point still stands.
- Clubber 6y ago
  It's not about RH at this point, it's about faith in the market. It's like you were winning at the casino and a cop came in, put you in handcuffs, then gave all your chips back to the dealer.
  - homeless_engi 6y ago
    If you count cards, the pit boss will ask you to leave. Personally, not a fan of the casino metaphor.
    - ThisIsTheWay 6y ago
      +1, fully agreed. There are definitely people making stupid bets and losing (like they should, IMO), but the notion that markets are this black box beyond human comprehension is laughable. That's especially true when you filter out the noise and find companies with solid fundamentals.
  - ThisIsTheWay 6y ago
    Again, I think you're overestimating the negative sentiment about the market being driven by the madness that is GME, BB, KOSS, and EXP over the last few weeks. Most retail investors are watching from the sidelines and scarfing down popcorn, not actively participating. You're hearing about a very small portion of the market and extrapolating that out to everyone, but that's simply not the case. Market manipulation is not new, and it's not impacting most retail investment strategies, which are much longer term. This is exposing inequities in the market that have existed for a long time, but I would be shocked if it has a significant impact on the assets of retail investors. As others have said, what other options are there? The game is imperfect, but that doesn't mean everyone stops playing all the sudden.
deleted 6y ago
[deleted]

dheera 6y ago

Unfortunately the odds of winning in the stock market even buying random stocks are still way better than a real casino, and casinos are still around.

Andrew_nenakhov 6y ago
Casinos are OK. Gambling is a special tax applied to people with bad understanding of the probability theory.
- thatguy0900 6y ago
  I feel like the people who say this have never been to a casino, they're pretty fun. I would wager most people going know they will lose money. Gambling addiction is a real problem, though.
  - rootusrootus 6y ago
    I've only been once. Even knowing I would lose money, I still found the loss/fun ratio really awful, and when I walked out of there I knew I'd never go back. For that kind of money I can buy toys I actually get to keep, or buy an experience worth remembering. Gambling socially, I enjoy. Playing poker with the guys, typically. But the stakes are absolutely tiny, so we really are just playing for fun.
  - Andrew_nenakhov 6y ago
    I knew some gaming addicts. Each and everyone of them was living with feverish hope to win big one day. However, I believe that everyone has a sacred right to destroy themselves in any way they like. If they choose to ignore conscience and indulge in gambling, it is on them.
- pc86 6y ago
  Preface: I'm totally in favor of people going to casinos if they want to. People say this and chuckle about how witty they are but it's the only "tax" that we let billionaires extract from the poor and act like we're okay with it.
deleted 6y ago
[deleted]
throwaway2245 6y ago
If you got a bunch of spare money and spare time, enjoy the casino. If you got a bunch of spare money, enjoy the stock market.

linuxftw 6y ago

Wallstreet feeds off of 401ks and municipal pension accounts. Retail investors can't influence the market broadly. Americans aren't going to stop putting money into 401ks and 401k administrators aren't going to stop shoveling money into their friend's 'funds.'

hi5eyes 6y ago

or the media steps in and runs damage control all they have to do is lie for a few months and people will completely forget hell, even if they have to lie for a few years, they already did that with ebil organge man and it only made the public trust them even more pension funds arent going to stop putting money into private equity, today will just make people less inclined to go retail I could see a lot of money leaving wall street for emerging markets over the next 10 years but I dont think a full divestment from american markets will happen in my lifetime

xwdv 6y ago

Where else are you supposed to put your money? Bonds? Real estate? A bank savings account? Good luck. People will not be able to live with their own failures. And where will that bring them? Back to stocks.

drcross 6y ago
Crypto enters the chat
- nine_zeros 6y ago
  This. Alternatives exist and will be created as faith in America keeps falling. The world hasn't run out of smart people.
- robntheh00d 6y ago
  Hedge funds already game crypto. At the root it’s nation state currency being manipulated. Like in 2008. Privatize the gains and socialize the losses. The entire ledger needs a wipe. It’s pure emotional bias to suggest the future is obliged to carry the debt of the past. There’s nothing in science suggesting such a truth exists.

ThisIsTheWay 6y ago

Robinhood could shut their doors tonight and it would have little impact on Wall St. or the American stock market. Robinhood isn't even in the top 5 for online brokers in terms of assets under management (AUM). Vanguard, Schwab, BAML, Fidelity, and Ameritrade are literally handling trillions of dollars (that's trillions with a T) [0], while Robinhood is estimated to be managing ~$20 Billion. [1] Sure, you could argue that's not all "retail investment", but they are not even in the same ballpark. [0]: https://www.fool.com/the-ascent/research/online-brokerage-statistics/ https://www.fool.com/the-ascent/research/online-brokerage-st... [1]: https://www.brokerage-review.com/investing-firm/assets-under-management/robinhood-aum.aspx https://www.brokerage-review.com/investing-firm/assets-under... EDIT: Added concession in last line that not all in the top 5's AUM is retail, but the point still stands.

Clubber 6y ago
It's not about RH at this point, it's about faith in the market. It's like you were winning at the casino and a cop came in, put you in handcuffs, then gave all your chips back to the dealer.
- homeless_engi 6y ago
  If you count cards, the pit boss will ask you to leave. Personally, not a fan of the casino metaphor.
  - ThisIsTheWay 6y ago
    +1, fully agreed. There are definitely people making stupid bets and losing (like they should, IMO), but the notion that markets are this black box beyond human comprehension is laughable. That's especially true when you filter out the noise and find companies with solid fundamentals.
- ThisIsTheWay 6y ago
  Again, I think you're overestimating the negative sentiment about the market being driven by the madness that is GME, BB, KOSS, and EXP over the last few weeks. Most retail investors are watching from the sidelines and scarfing down popcorn, not actively participating. You're hearing about a very small portion of the market and extrapolating that out to everyone, but that's simply not the case. Market manipulation is not new, and it's not impacting most retail investment strategies, which are much longer term. This is exposing inequities in the market that have existed for a long time, but I would be shocked if it has a significant impact on the assets of retail investors. As others have said, what other options are there? The game is imperfect, but that doesn't mean everyone stops playing all the sudden.

deleted 6y ago

[deleted]