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Wall street has 2 parts. First, there's the efficient allocation of resources. There are a few people that consistently make money, like Warren Buffet. But they
by jfoutz 11y ago
Wall street has 2 parts. First, there's the efficient allocation of resources. There are a few people that consistently make money, like Warren Buffet. But they play on very small edges. Sorta like poker, they consistently come out a few percent ahead of the competition. But there's terrible variance. Is this likely to be a tool that gives real market insight? No.
The other part of Wall Street is like matthew mcconaughey in the wolf of wall street. It's getting people's money in the circus. Go around and around the ferris wheel again and again. This is the sort of thing that can convince people to invest.
I seriously doubt i'd put my own money in just because of this. But people like that exist, and really, they're probably better off with some money in stocks. They'll get a better return than a savings account. So, some people will do the right thing for the wrong reasons.
Of course, everyone needs to be cautious of pure snake oil, but a respectable company putting on a little sideshow from time to time is pretty reasonable.