Statement of SEC Regarding Recent Market Volatility • Hacker News Board

Re: Statement of SEC Regarding Recent Market Volatility

#501

Post by triangleman » Fri, Jan 29, 2021, 5:24 PM UTC

throwaway-571 wrote: post #444

dleslie wrote: post #116

Earlier quoted context omitted.

The FOMO is palpable. There's a hurried rush of small investors hoping to turn their meagre savings into a big win, backed by the anxiety that if they don't try then they'll forever regret missing their one and only chance at a comfortable life. This sort of event would be less likely if America's wealth disparity weren't so grotesquely skewed.

It's kind of depressing when you look at these crazy success stories of lottery winners. You realize even a small bet at the right time could be life-changing. Let's say instead of buying a Latte every working days at starbucks over the last five years you had invested it in tesla stocks. Or maybe for every starbucks latte you drank, you invested the same amount in ETF and in Tesla (pay 3 latte, drink one). Where wou…

The best analysis is always against the company itself:

- SBUX instead of buying Starbucks

- MO instead of buying cigarettes (see The Millionaire Next Door for this analysis)

- LVMH instead of buying LV, M, or H

- NVDA instead of buying video cards and AAA games

- CVS instead of shopping at convenience stores

Re: Statement of SEC Regarding Recent Market Volatility

#502

Post by rdiddly » Fri, Jan 29, 2021, 5:24 PM UTC

kristopolous wrote: post #348

FabHK wrote: post #318

Earlier quoted context omitted.

> it’s a narrative propped up intentionally by wsb insiders for their own gain. Yes, in particularly the passionate pleas to buy in more and HODL, stick it to the man, stick it to the evil shorts. While enabling the early longs to cash out profitably. Bit like Bitcoin, really.

It's the same hustle. I've been clicking through some of the usernames that are posting. I've been noticing some interesting patterns. Accounts that seem to have been abandoned for months or years are commenting all of a sudden. Makes me think some of these very similar looking frantic lunatic posts are part manufactured. It'll take a good effort to show it conclusively

Interesting - who knows, could even be professional foreign trolls, only interested in encouraging volatility a.k.a. instability.

Re: Statement of SEC Regarding Recent Market Volatility

#503

Post by mcguire » Fri, Jan 29, 2021, 5:25 PM UTC

kodah wrote: post #185

jancsika wrote: post #121

A Moment in the Life of an HN Genius: 1. Reads a technical document outside their domain. 2. Feels dumb because they don't have a grasp on any of the concepts. 3. Too busy to use the very internet which some of them probably helped build to magically render learning materials to the screen in front of them at zero marginal cost. 4. Sees the word "manipulation" 5. Substitutes the laymen's definition of "manipulation"…

Personally, I think smart people just do this. When I got sick with COVID I cannot begin to describe the number of people who became doctors during this unprecedented time , only to send me outdated comments, articles, and speculation. All of these people thought they were smarter than the instruction I received from a real doctor, nurse practitioner, and the CDC. These were smart people, though, and mostly (but not…

Engineers, in particular, have a reputation for being experts on everything.

Re: Statement of SEC Regarding Recent Market Volatility

#504

Post by Robotbeat » Fri, Jan 29, 2021, 5:25 PM UTC

whimsicalism wrote: post #464

Robotbeat wrote: post #435

Earlier quoted context omitted.

I don’t agree. See Tesla. Elon frakked up with the SEC but not his customers (or his fans) and so Tesla a couple years later is on top of the world. I doubt Robinhood will survive this. They built their whole brand around rallying for the little guy at the expense of the fat cats. It’s literally their name.

That's an absolutely awful argument. Elon Musk rich so don't have to bother with the SEC?

Nope. The question was whether it’s worse (in terms of recovery time) to crap on the SEC or your customers, and in which case you’ll recover faster. Elon frakked with the SEC and rightfully had to pay a price for it. But they recovered quickly. I don’t think Robinhood will.

The best thing is to not frak with either the SEC or your customers. And that’s probably always an option, even if it might mean sacrifice.

Re: Statement of SEC Regarding Recent Market Volatility

#505

Post by seigando » Fri, Jan 29, 2021, 5:25 PM UTC

floor2 wrote: post #492

seigando wrote: post #148

Earlier quoted context omitted.

Oh dear, those poor hedge funds.

This worldview seems like one of the biggest problems facing America right now. We should strive for equal rules and justice for all, rather than first deciding how likeable or sympathetic the parties involved are and then changing the interpretation of rules to favor the group we perceive as being inherently more deserving of our favoritism.

The rules were written, and have been interpreted with certain perceptions of 'who is deserving'. To claim that they weren't is at best ignorant.

Re: Statement of SEC Regarding Recent Market Volatility

#506

Post by ineedasername » Fri, Jan 29, 2021, 5:25 PM UTC

extreme stock price volatility has the potential to expose investors to rapid and severe losses and undermine market confidence

It's not the SEC's role to protect investors from risk or losses, rapid or otherwise, and saying that the recent activity "undermines confidence" is just another way of saying "increases risk", which is not their job. They should ensure confidence by guarding against fraud, but not to protect against losses by institutions that never thought that activist investors would work against their own interests.

This isn't really manipulation that we're seeing: it's people betting against the institutions that themselves bet against companies combined with a fair bit of FOMO.

Re: Statement of SEC Regarding Recent Market Volatility

#507

Post by _ofdw » Fri, Jan 29, 2021, 5:26 PM UTC

tompccs wrote: post #212

jancsika wrote: post #121

A Moment in the Life of an HN Genius: 1. Reads a technical document outside their domain. 2. Feels dumb because they don't have a grasp on any of the concepts. 3. Too busy to use the very internet which some of them probably helped build to magically render learning materials to the screen in front of them at zero marginal cost. 4. Sees the word "manipulation" 5. Substitutes the laymen's definition of "manipulation"…

I am so sick of this 'stay in your lane' attitude. Time and time again, experts have been shown to have consensus opinions which are wildly off from reality. You can almost set your watch to how often an outsider will analyse a situation from first principles and make money off the 'experts', especially in the stock market. You're welcome to your opinion but this appeal to authority is seriously wearing thin. Pretty…

>I am so sick of this 'stay in your lane' attitude.

And I am so sick of the HN-trademark "I'm smarter than the average bear" arrogance that you display here. Pick an article about nuanced subjects like COVID vaccines, the 737 Max, the law in general. Guaranteed the comments section here has dozens of people incorrecting each other about semantics of these subjects in which they are not domain experts.

Everyone's entitled to their opinion, but your opinion is worth less than that of a domain expert.

Re: Statement of SEC Regarding Recent Market Volatility

#508

Post by skulk » Fri, Jan 29, 2021, 5:26 PM UTC

snowwrestler wrote: post #471

throwaway-571 wrote: post #302

Earlier quoted context omitted.

Is there a spoiler tag on HN ? These ones still hurt: There is a lot of thing one could have done "for the LULz" but decided to browse HN, Imgur or Reddit instead. - Bitcoin. I heard about it when it was still possible to mint it on CPU, but chose to run SETI@Home instead. - Bitcoin when it was at merely $9000. - Ethereum when it was going under $1. - Dogecoin like anytime before yesterday (up 6x or something today).…

The key to managing this FOMO for me is really committing emotionally to the concept of hindsight bias. We remember the winners we missed way more than the losers, because the winners are still present in our lives today, whereas the losers never became noteworthy (because they lost). But it’s extremely difficult to tell them apart ahead of time. So current me needs to give past me a pass... past me failed at somethi…

A mental exercise I do to manage FOMO is to try and remember duds that I pondered might be the next BTC. Admittedly, it's hard because the brain really tries to forget about those. Keeping a diary is probably the key here.

Re: Statement of SEC Regarding Recent Market Volatility

#509

Post by whateveracct » Fri, Jan 29, 2021, 5:26 PM UTC

tompccs wrote: post #212

jancsika wrote: post #121

A Moment in the Life of an HN Genius: 1. Reads a technical document outside their domain. 2. Feels dumb because they don't have a grasp on any of the concepts. 3. Too busy to use the very internet which some of them probably helped build to magically render learning materials to the screen in front of them at zero marginal cost. 4. Sees the word "manipulation" 5. Substitutes the laymen's definition of "manipulation"…

I am so sick of this 'stay in your lane' attitude. Time and time again, experts have been shown to have consensus opinions which are wildly off from reality. You can almost set your watch to how often an outsider will analyse a situation from first principles and make money off the 'experts', especially in the stock market. You're welcome to your opinion but this appeal to authority is seriously wearing thin. Pretty…

i think it's an appeal to not spouting answers when you should be asking questions

Re: Statement of SEC Regarding Recent Market Volatility

#510

Post by chosen1111 » Fri, Jan 29, 2021, 5:27 PM UTC

tompccs wrote: post #212

jancsika wrote: post #121

A Moment in the Life of an HN Genius: 1. Reads a technical document outside their domain. 2. Feels dumb because they don't have a grasp on any of the concepts. 3. Too busy to use the very internet which some of them probably helped build to magically render learning materials to the screen in front of them at zero marginal cost. 4. Sees the word "manipulation" 5. Substitutes the laymen's definition of "manipulation"…

I am so sick of this 'stay in your lane' attitude. Time and time again, experts have been shown to have consensus opinions which are wildly off from reality. You can almost set your watch to how often an outsider will analyse a situation from first principles and make money off the 'experts', especially in the stock market. You're welcome to your opinion but this appeal to authority is seriously wearing thin. Pretty…

Does medical advice fall into this consensus trap?

If so...relative to today?