3 ms·

What a joke. I guess some of the old white people on Wall Street didn't like him taking away from their profits. Anyone who has worked on wall street knows that

What a joke. I guess some of the old white people on Wall Street didn't like him taking away from their profits. Anyone who has worked on wall street knows that insider trading is common place. They may call it analysis, but the bottom line is that they trade on information that others (you and I) do not (yet) have. Even milliseconds matter. PS FTR: I'm old, and white.

demet8 14y ago
I totally agree with your statement.
vecinu 14y ago
I keep telling folks that invest in the stock market that they're playing a game...their game. I find that gambling in stocks is more dangerous than playing the lottery once a week. Some will argue with me and tell me that 'if you work hard and study the market, you will know how to play stocks' but my question to them is why are they reading this post?
- tedunangst 14y ago
  The expected return from a stock, even if you're a crappy stock picker, is greater than the expected return of a lottery ticket.
  - slug 14y ago
    How about all the stress that comes from dealing with the stock market on a periodic basis?
    - tedunangst 14y ago
      If you're investing according to general guidelines, like investing a fixed amount each month, keeping it in, not trying to time the market, and so forth, there's very little stress. The more your investing strategy resembles gambling, the more stressful it will be.
rhizome 14y ago
Especially since he worked at Goldman Sachs, this conviction would appear to be the result of not making the right friends.
- wh-uws 14y ago
  Or explicitly making the wrong friend. CNBC has this show I like to watch called American Greed where they talk about people who do scams from large to small. They had a great episode about the guy he got caught dealing with Raj Rajaratnam Episode summary here: http://www.cnbc.com/id/45555924 http://www.cnbc.com/id/45555924 If you scroll all the way to bottom you can even here a recording of one of their conversations

demet8 14y ago

I totally agree with your statement.

vecinu 14y ago

I keep telling folks that invest in the stock market that they're playing a game...their game. I find that gambling in stocks is more dangerous than playing the lottery once a week. Some will argue with me and tell me that 'if you work hard and study the market, you will know how to play stocks' but my question to them is why are they reading this post?

tedunangst 14y ago
The expected return from a stock, even if you're a crappy stock picker, is greater than the expected return of a lottery ticket.
- slug 14y ago
  How about all the stress that comes from dealing with the stock market on a periodic basis?
  - tedunangst 14y ago
    If you're investing according to general guidelines, like investing a fixed amount each month, keeping it in, not trying to time the market, and so forth, there's very little stress. The more your investing strategy resembles gambling, the more stressful it will be.

rhizome 14y ago

Especially since he worked at Goldman Sachs, this conviction would appear to be the result of not making the right friends.

wh-uws 14y ago
Or explicitly making the wrong friend. CNBC has this show I like to watch called American Greed where they talk about people who do scams from large to small. They had a great episode about the guy he got caught dealing with Raj Rajaratnam Episode summary here: http://www.cnbc.com/id/45555924 http://www.cnbc.com/id/45555924 If you scroll all the way to bottom you can even here a recording of one of their conversations