I agree with this in principle but then kind of struggle to explain how momentum trading is a thing
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The momentum effect is a real thing in the stock market, but on average it doesn't give excess returns after costs (you have to trade frequently, as momentum stocks drop.) There are certainly successful momentum traders, but they are either the lucky ones, or have some other edge
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The exception to the Rule is when “there are people obligated to buy shares in the near-future”
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Those people don't have infinite money with which to buy shares -- which is, in fact, the whole reason for this project on the part of the more vindictive participants -- so the chance of you ending a bagholder is still extremely high once the bandwagon starts rolling
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You can only reliably make money from stocks if you know something most people don't know, or you are willing to wait longer for your money than most people are willing to wait. Basic sanity check of "why doesn't everyone do this" applies here
Thanks. Twitter will use this to make your timeline better. UndoUndo
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This is a weird edge case, though, because everybody has been getting rich in large part *because* "everybody's doing it."
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That's not a "weird edge case" that is the basic definition of a bubble
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Frankly, Tulip Mania should be a required chapter in modern history books. With an emphasis on "DO NOT BUY INSANELY POPULAR SHIT (OR BITCOIN)"
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I really do hope that no one who can't afford it loses money on this. But it's very clear at this point that many of the small late-game investors, at least, aren't in it for the money at all -- they're paying $50 or $100 or $1000 for the sheer joy of saying "fuck you".
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Jumping on the GameStop bubble to make money is a bad idea sure. Jumping on the GameStop bubble as part of an economic assault seeking to bankrupt a hedge fund for the sake of bankrupting a hedge fund on the other hand, maybe more coherent and logical
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See the "for the meme" clause of Rule 1.
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