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About two weeks ago a post[1] went to the top of /r/WallStreetBets where a user advocated shorting the South African Rand. So in the space of days we went from
by bidirectional 6y ago
About two weeks ago a post[1] went to the top of /r/WallStreetBets where a user advocated shorting the South African Rand. So in the space of days we went from WSB being a crusader against the evil shorts, to heavily upvoting the idea of shorting a struggling nation.
The user posting it had an absolutely laughable lack of knowledge on the trade -- they literally believed they would profit if the USD outperformed ZAR, not factoring in the interest to pay on the short -- combined with eyebrow-raising statements on SA history. But this didn't stop everyone from laughing at the idea of blowing up a country's economy. To me it completely poisoned any idea of WSB being a force for good, or even remotely rational.
[1]: https://old.reddit.com/r/wallstreetbets/comments/lkzviy/i_am_going_to_short_the_whole_country_of_south/ https://old.reddit.com/r/wallstreetbets/comments/lkzviy/i_am...
- havelhovel 6y ago> To me it has completely poisoned any idea of WSB being a force... Good! WSB was a place to talk about making (reckless or stupid) investments. Pundits and politicians sold a different, mostly harmful narrative.
- totetsu 6y agoMost of the discussion there seems to be about how is a bad idea