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> The reason it is down is because it's a Ponzi scheme Is the rest of the stonks also a ponzi scheme? Because if you didn't notice, those are also very down.
by andirk 4y ago
> The reason it is down is because it's a Ponzi scheme
Is the rest of the stonks also a ponzi scheme? Because if you didn't notice, those are also very down.
- jen20 4y agoIf by "stonks" you mean meme stocks and SPACs, then practically yes. They both rely on the people coming afterwards being a bigger idiot onto whom poor value instruments can be offloaded.
- andirk 4y agoCommon ETFs usually trade at 20x+ their actual output. When people ask me for investment advice, I tell them that I am good at predicting this fiction and no I won't subject anyone else to it because the whole thing is 50% a complete insider trading scam. My point is to call one thing a scam and pretend the other thing is legit is a joke. To me "stonks" is a name to belittle stocks. Disclosure: I am heavily invested in both space cash and stonks.