Read on Twitter
1/ Market actors clearly have no interest in a “fundamental” value of the stock, but the “investment” is instead just a bet that others will value it—again, knowing they also don’t care about fundamentals.
How and when can you lean on the roulette wheel? Can you get help, too? https://twitter.com/ltabb/status/1354059864914452480
How and when can you lean on the roulette wheel? Can you get help, too? https://twitter.com/ltabb/status/1354059864914452480
2/ This is the natural extension of plus we’ve seen the past few months or even Bitcoin. There is little/no “there there.”Profits and losses come from exclusively others who are playing the same game. The “thing” whose value is being contested violently is actually irrelevant.
3/ except it is relevant. In this case, it is a real company. People work there. Jobs. Livelihoods. So this football contest is taking a real company and using it as a fun football to make and lose fortunes—having nothing to do with the company itself.
4/ This is the extension of game-ification of “investing.” It isn’t even “capitalism.” It is a psychological challenge based on game theory with nothing to do with funding promising companies and putting capital to its best uses to drive our economy.
5/ Aside from raising all sorts of questions about manipulations and legality, it also undermines the “real economy.”
I understand why people are playing the game. But does that mean the game should be permitted to exist or played this way?
I understand why people are playing the game. But does that mean the game should be permitted to exist or played this way?
