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Penny Arcade - Comic - Sorcelations
Dog
Registered User, Administrator, Vanilla Staff admin
Registered User, Administrator, Vanilla Staff admin
Penny Arcade - Comic - Sorcelations
Videogaming-related online strip by Mike Krahulik and Jerry Holkins. Includes news and commentary.
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Line goes down
None of it is real
I kind of feel like this can also be applied to how I'm currently performing in Valorant.
All money value is just the collectively-agreed-upon fantasy; it's as old as money as a concept. Gold had no practical use outside of decoration for centuries; it was valuable because we chose to value it.
*makes motions with hands, squints off into distance*
That said, I don't think most people realize how historic this is. If they did, just like in 2008, a lot of people would go to jail and institutions would be reformed. "Free market" my ass.
Why yes, the game is rigged against you.
-Tycho Brahe
By "not entirely wrong", you mean "100% correct with no exaggeration", right?
Because "borrow things that don't exist from wizards, that you then sell to ghosts" is a pretty accurate description of the stock market if you ask me.
Plenty of stories of folks who have paid off their parent's loans and helped out their fellow man. I am sure the wsb folks have done more for charity per dollar won than the hedge fund managers they are up against.
But sure, you can only ever have the moral high ground when you first help everyone who is worse off than you.
Per dollar won? I'm going a step further.
I am sure the WSB folks have done more for charity and the less fortunate than the hedge funds they are up against period.
Robinhood is the corporate name chosen by the company - your question would be better directed at them, I think.
On the understanding that, if one or a multitude should fail to outwit the machinations of the dark forces with which they meddle, then this endeavor shall bring great ruin upon their house. And should they fail to tug at the strings of hearts and purses alike, by the mummery of donning sackcloth and rattling their pewter cups in the gutters that line the great capital, generations of their progeny will wear the marks of servitude on their backs.
And I find this attitude to be part of the problem. Listen, it's really not that complicated. If you can grasp the subtleties of min/maxing your Pathfinder 2e Rogue, then you can understand short-shelling and trading options on the stock market. It just takes a little effort to understand the underlying concepts. But Brokers don't want you to put forth the effort. Because when enough people begin to figure out how the system works and how they actually have the power to manipulate it as well, shit like this happens.
So, for fucks sake people, for once in you lives don't just hand wave away a market event of this magnitude while making some pithy comment about its all wizards, and ghosts and imaginary gold coins. Take an afternoon, figure out what is actually going on, and better educate yourselves so you don't have have to rely in these same corporate overlords for the well being of your financial future.
With what Cambiata said, wizards and ghosts aren't standing in for confusion - they're representing how little the stock market (as a whole) interacts with reality. Tycho's explanation only brings in actual confusion with the ghost rider bit
Exactly that - it's not that it's hard to understand, it's that the traditional explanation of what it is doesn't actually contribute to understanding what it does.
The stock market is very close to a trade in hypotheticals, examples of how and why stock prices move far out of step with the actual dollars on the books are too diverse and numerous to even name.
There's a reason that more and more hedge funds and investment brokers are now also trading in cryptocurrency as if they were stocks without a company, and a couple years ago when it turned out one of the crypto exchanges they used was a fake (they were paying for coins and getting money for selling them, but the exchange never actually had the coins being traded, it was literally just taking a commission on customers transferring dollars back and forth with nothing in between), most didn't even stop using it, because even the final step to actually trading make believe nothing wasn't unacceptable as long as the exchange was fair.