3 ms·
> and refused to update their prior when they lost money day after day The market takes money from people with incorrect beliefs about economics and gives it t
by fn-mote 1y ago
> and refused to update their prior when they lost money day after day
The market takes money from people with incorrect beliefs about economics and gives it to people with correct beliefs. ~~What is the problem here?~~
On second read, I think the parent was just intending a factual statement, which I am willing to agree with.
- bigbacaloa 1y ago[dead]
- cyanydeez 1y agoThe market takes money like a bully most of the time. Any other belief is as theoretical as communism vs practice.
- Dylan16807 1y agoIf you're selling millions of dollars of options you're taking an extremely willing risk, not getting bullied. Edit: Reading more about this, it looks like the counterparty is often a bunch of retail investors doing quick trades hoping the stock swings one way or the other, and that's not bullying that's gambling.
- nativeit 1y agoI agree with your edited point, and in response to sentiments I saw earlier in the thread—even gamblers deserve nominal assurances against cheating. My two cents, which I personally will be investing in wishes via my local wishing well, to which I’ve connected a dedicated fiber link to power my high-frequency algorithmic wish arbitrage desk.
- have-a-break 1y agoDisassociates the value of the underlying assets which devalues the currency. Probably why regulatory bodies had to get involved.