3 ms·
Your mistake is interpreting buyers of high risk/high payoff assets as interested in maximizing return rather than seeking entertainment. As entertainment, trad
by simple-thoughts 4y ago
Your mistake is interpreting buyers of high risk/high payoff assets as interested in maximizing return rather than seeking entertainment. As entertainment, trading these types of “meme assets” is the consumer activity and should be viewed in the same category as other gambling consumer goods.
- WJW 4y agoI realize that, but only a small proportion of high risk/high payoff buyers is interested in seeking (gambling) entertainment in the stock market, namely the retail investor sector and specifically retail investors in meme stocks. There are plenty of other players in that market who are very much interested in maximizing return. The title as posted on HN that "lottery seeking is everywhere" is simply not true and certainly isn't backed by the paper that it links to.
- ddorian43 4y agoJust like casinos are for entertainment.