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Actually… It took a lot of courage by ProPublica to put out this piece knowing they would deal with the wrath of the Buffet faithful. No one had any issues wh

Actually… It took a lot of courage by ProPublica to put out this piece knowing they would deal with the wrath of the Buffet faithful. No one had any issues when they were reporting on Clarence Thomas. Considering the power that Buffet wields in the marketplace, he and his followers should welcome inspection, reporting and oversight in the same way that chief justices should. The irony is deafening.

boeingUH60 3y ago
It doesn’t take courage to put out dumb clickbait. I’m not “Buffett faithful” or whatever…just a layman who can recognize and call out dumb clickbait when it relates to the financial markets.
- astrange 3y ago
  It's not their only bad financial piece. The one claiming landlords are all secretly hoarding apartments because algorithms are telling them it'll raise the rent is basically nonsense. (This is a cartel, which besides being illegal is impossible because all the members are motivated to detect and most of them cannot act on the advice. The sole actual housing cartel in the US is NIMBY zoning laws; you need the force of law to prevent defection.)
  - jollofricepeas 3y ago
    I agree that zoning could be improved. Maybe I don’t understand your comment but algorithmic price fixing is very much a thing across many many industries where participants collude on pricing. If the outcome is the same, it doesn’t matter how you got there whether it was a written note or algorithm created by insiders. Algorithmic price fixing deserves reporting.
    - astrange 3y ago
      The claim is landlords are using algorithms to keep units vacant to increase prices. They can't do this because most of them only own 1-2 units. But you're still describing a cartel, which can only happen if the number of producers is fundamentally limited, because any new producer doesn't care if the others have to lower prices.
Rebelgecko 3y ago
Is this a copypasta? I swear I've read this before verbatim

boeingUH60 3y ago

It doesn’t take courage to put out dumb clickbait. I’m not “Buffett faithful” or whatever…just a layman who can recognize and call out dumb clickbait when it relates to the financial markets.

astrange 3y ago
It's not their only bad financial piece. The one claiming landlords are all secretly hoarding apartments because algorithms are telling them it'll raise the rent is basically nonsense. (This is a cartel, which besides being illegal is impossible because all the members are motivated to detect and most of them cannot act on the advice. The sole actual housing cartel in the US is NIMBY zoning laws; you need the force of law to prevent defection.)
- jollofricepeas 3y ago
  I agree that zoning could be improved. Maybe I don’t understand your comment but algorithmic price fixing is very much a thing across many many industries where participants collude on pricing. If the outcome is the same, it doesn’t matter how you got there whether it was a written note or algorithm created by insiders. Algorithmic price fixing deserves reporting.
  - astrange 3y ago
    The claim is landlords are using algorithms to keep units vacant to increase prices. They can't do this because most of them only own 1-2 units. But you're still describing a cartel, which can only happen if the number of producers is fundamentally limited, because any new producer doesn't care if the others have to lower prices.

Rebelgecko 3y ago

Is this a copypasta? I swear I've read this before verbatim