but also okay isn't it a straightforwardly good idea to *short* gamestop rn or am i missing something? i don't know anything about how this works
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the market can remain irrational longer tha you can remain solvent
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so the issue is that i might get short squeezed? (am i using that term right?)
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sort of
but also a matter of how long and how much you're willing to throw into it
ex: is t/esla overvalued? extremely. has it been for a while? for years? absolutely. but if you shorted it a year or two ago you'd be down enormously, and it could take years before it pops
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remember, the market is fake. contrary to the mythology of wall street, nothing traded is real; they are just tokens with almost no relationship to reality, and the """fundamentals""" of a stock make no guarantee as to anything it will do in the future
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you aren't buying "gamestop"; you are buying a token with "gamestop" written on it. its relationship to the actual "gamestop" company is roughly the same as the leaves in the gutter on the street
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the phrase of art is "keynesian beauty contest", btw
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Replying to
ha. have you ever played "guess 2/3rds of the average" with a bunch of insanely smart nerds? it is very fun trying to estimate how many levels of recursion everyone else will use. i played once in high school and deliberately guessed 100 to throw everyone else off
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i haven't but that's basically the entire stock market in a nutshell, except with a ton of kayfabe where they pretend they're doing something useful
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