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Heh strikes me that a taste for exotic financial products among the ultrawealthy is kinda the same as their taste for exotic game meats in Wuhan, which I hear is a scarcity era necessity from cultural revolution now driven by demand from rich elites. Both risk exotic diseases.
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If you don’t participate in the higher financial markets, you’ve been signed up for a religion without consent. It’s like if your tax $ were used to fund faith-based initiatives with no strings attached. Violation of separation of church/state. Oh wait they’re doing that too 🤣
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World to China: please stop eating pangolins unless you’re literally starving. World to Wall Street: please stop trading pangolin options unless you’re doing it in an opt-in trading card game like MtG. My MtG playing friends are nice. They don’t create tail risks for me.
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By contrast small gods of discworld are scraping by on low, critical levels of belief, not mass levels of uncritical belief. They have to *work* to keep divine status via belief flows. Better off than mortals since they are immortal but they’re the working rich without FU$.
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Discworld caught my eye here, as a childhood fan 😊 & tbh is an excellent lead-in to a thread like this, for those like me who find finance discourse super intimidating You consistently excel at this - painting ideas across many facets, making accessible across disciplines 👐🚀
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Heh I find finance super intimidating too, it’s the same response. That’s why I don’t trade beting basics. But that’s also why people like us will never be ultrawealthy.
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I think since my primary role's been "public hackerspace educator" it trained my instincts to be "DYOR x10000!" i.e. very risk-averse. In contrast, my adrenaline-junkie "caught the knife" buying yesterday's dip at a BTC ATM lol. I would never have the guts to make that call!
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