Not needing the money immediately doesn't translate to holding depreciated stock. It takes a couple of days for the money to actually materialise, but you're not on the hook for any loss in that time
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Replying to @LizardOrman
I know, I just figure if I was a day trader, I'd figure "China, the country of, again, billions of people, will probably have this under control in a month" enough to not start selling every holding with any connection to the country
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Replying to @BootlegGirl
If you're a day trader, selling now to dodge a fall that will take until next month to recover from is exactly what you do. You're thinking of actual investors
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Replying to @LizardOrman @BootlegGirl
Yeah that's exactly the point I'm trying to make "Fundamental investors" like Buffet says you should be are the exact opposite of day traders be day traders cause most of this movement
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By definition, a day trader has no opinion on the actual underlying business of the companies they're investing in (which is why Buffet hates them) It's all a game where they're placing bets essentially on how all the other day traders currently feel
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The connection to the actual real world economy is only theoretical Their relationship to "real" investors is adversarial and is a kind of "keeping each other honest" relationship
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Like the argument is if you banned day trading entirely like Buffet has jokingly proposed then the market could stagnate and the old boy network would *never* sell stock even as the real company was going bankrupt in order to deliberately slow economic change
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I'm not so sure that's such a great argument though Like the price we pay for the existence of day traders is real people losing money on essentially just bullshit gambling games
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Replying to @arthur_affect @LizardOrman
I think the strongest argument against trying to get rid of day trading is how hard it would be to avoid the creation of some sort of derivative that reflected basically the same thing. Look at how hard it's been for the government to regulate crypto even
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It's quite a thing when the best argument in favor of a practice is, "Killing it probably wouldn't work anyway." Imagine if they adopted that attitude in horror movies.
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Well I mean we haven't done very well with trying to ban actual literal gambling games, which don't even have the pretense of serving as a price signaling mechanism to regulate the real economy
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Replying to @arthur_affect @AdamLBrinklow and
Like you know the state lottery exists because only by having a state monopoly on the lottery were they able to kill the illegal numbers rackets, which have always been one of the biggest profit centers for the mob
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Replying to @arthur_affect @AdamLBrinklow and
The reason Bitcoin took off isn't that people by and large actually believe the Bitcoin hype, or even understand it It's that this lottery-like behavior is endemic in human society and always finds an outlet sooner or later Tulipmania wasn't because people really wanted tulips
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