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There is a great Jewish joke about markets: Shlomo was returning from Antwerp, when he met Moishe: "Look at this bag of diamonds I've bought there! only 1000 fl
by wazoox 5y ago
There is a great Jewish joke about markets: Shlomo was returning from Antwerp, when he met Moishe: "Look at this bag of diamonds I've bought there! only 1000 florins, it's easily worth double that!"
"Wow, that's a hell of a bargain, how much do you want for it? 2000?" "deal!".
Shlomo went home. He told his wife Sarah about his daily business. "So Moishe bought this bag for double the price without bargaining? He must know it's worth much more than that, you moron! Buy it back tomorrow!"
The next day, Shlomo met Moishe : "listen, I'll take back the bag of diamonds. 3000 florins?" "deal!"
That night, Moishe told the story to his wife Debrah. "Imbecile! can't you see you've been gamed? You're now 1000 florins poorer than yesterday, and what do you have?"
The next day, Moishe met Shlomo: "listen, I've think about it, I want to buy back the diamonds. 4000?" "deal!"
So this little back and forth game goes on for a week, when someday, Shlomo said to Moishe: "Listen, I'd like to buy the diamonds back after all..."
"Too late, I've sold the bag yesterday to a merchant from Hamburg!"
"What? You've sold a stranger a bag of diamonds that was making us 1000 florins A DAY?"
- usrn 5y agoGood old GDP.
- ChuckNorris89 5y agoReplace the diamonds with housing and it's spot on in the West.
- sumedh 5y agoBut housing can be a source of income unlike diamonds.
- imtringued 5y agoYou are correct but sometimes home prices are rising faster than rents it is absurd.
- dvt 5y agoNFTs in a nutshell.
- Workaccount2 5y agoThis is what is called a "ladder attack" in the stock market. Essentially you and a small group of people pick a low volume penny stock, and trade it back and forth amongst yourselves for more and more money each trade. Then other people see the fast rise and want to get in on the action. Volume picks up and the original traders cash out at a much higher price.
- ChuckNorris89 5y agoYou mean the GME fiasco?
- usrn 5y agoIIRC that was a short squeeze which additionally requires the use of credit.
- duggable 5y agoRelevant Beavis and Butthead clip: https://www.youtube.com/watch?v=6s2xTttJHtI https://www.youtube.com/watch?v=6s2xTttJHtI