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Statement of SEC Regarding Recent Market Volatility

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Re: Statement of SEC Regarding Recent Market Volatility

#631

Post by cthaeh »

cmrdporcupine wrote: post #557
mcguire wrote: post #528

Earlier quoted context omitted.

" how a lot of doctors viewed masks at the beginning of the pandemic " Ok, so I've looked into the history of this a little, and most of the mask mythology seems misunderstood. Prior to 2020, most medical professionals believed most viruses, and corona viruses particularly, could not be transported as aerosols. This was a subject of research where the data had not come in. About late March, it began to appear that th…

My frustration is that, here in Canada at least, there is still an outdated way of talking about the virus as if it's a surface / hand sanitation issue, and much of the public policy (especially around school openings, etc.) still seems to be ignorant of the absolutely essential role that shared air has in transmission. Public authorities have failed to really drive home the reality of the virus, and instead we get s…

If you go to ontario public health website and read their summaries on current covid papers, you'll note that the vast majority of papers come to the conclusion that schools have almost no impact on the spread of covid.

But no, keep applying youre second grade logic: spreads through air-> indoor places unsafe-> CLOSE EVERYTHING.

That's not to say some of it isn't security theater (ie my parents were washing cookie boxes with soap some a couple of months ago), but those measures aren't being driven by the public health, but rather the unrelenting fear mongering of the media.

Re: Statement of SEC Regarding Recent Market Volatility

#632

Post by Aunche »

uh_uh wrote: post #312
tompccs wrote: post #212

Earlier quoted context omitted.

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…

One could argue that the whole situation came about because outsiders (Reddit users) caught the "experts" (hedge funds) with their pants down.

Redditors made millions of dollars. A couple hedge funds lost billions. Where did the rest of the money go to? Other institutional investors. Nearly 10% of Gamestop is held by a mutual fund where experts try to pick undervalued stocks.

https://money.cnn.com/quote/shareholders/shareholders.html?s...

Re: Statement of SEC Regarding Recent Market Volatility

#633

Post by DennisP »

nemo44x wrote: post #392
Tenoke wrote: post #215

Earlier quoted context omitted.

I saw plenty of smart people ahead of institutions and real doctors on masks and to some extents other aspects of the pandemic. Yes, in general if you don't know much on a topic you'd on average do best if you listen to the experts but you can outperform that if you can identify the right kind of smart people with a good track record.

"Right kind of people" have no accountability to their advice. A doctor can't really just hazard a guess without actual facts to base them in or risk losing their ability to practice and/or reputation. "Right kind of people" can be and are often plenty wrong about things but it fades into obscurity and they are never held accountable. Of course they are right sometimes but on many issues with a binary choice (should…

Last spring I was briefly lectured by a maskless doctor who said I shouldn't bother with the mask I was wearing at an appointment. I shrugged and kept my mask on. A month or two later I saw him again. He was wearing a mask that time and didn't complain about mine.

That doctor didn't just avoid guessing. He gave unsolicited advice, on limited information, that turned out to be exactly wrong and somewhat dangerous.

Re: Statement of SEC Regarding Recent Market Volatility

#634

Post by Paddywack »

Paddywack wrote: post #625
wolf550e wrote: post #231

Earlier quoted context omitted.

The non-consensus outsiders who make progress have done the reading. They know what the consensus is, they know all the concepts and the jargon, and they disagree about something. Your post can be interpreted to mean "my ignorance is just as good as your knowledge". That's anti-vax thinking and argument. That is not a way to make progress.

I would frame this on two axis: 1) outsider vs establishment 2) expert vs layperson My opinion (see below for how I have defined these) Outsider expert > establishment expert for public ally challenging and overturning norms Any expert > layperson on the basic facts (ignoring statistical aberrations, of course) “Outsider” being unconstrained by norms, not afraid to be cast out of a long established peer group “Expert…

Note the Dunning Kruger effect too!

Re: Statement of SEC Regarding Recent Market Volatility

#635

Post by JKCalhoun »

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"…

Cynical?

Thoughtful people who have been on this planet for decades build up a world view based on the countless examples of actors on the world stage behaving the way that they do. A single article or internet search is not how we are informed.

Re: Statement of SEC Regarding Recent Market Volatility

#636

Post by stonogo »

mjburgess wrote: post #562
scythe wrote: post #432

Earlier quoted context omitted.

>Or how trickle down economics is also endorsed by experts. Trickle-down economics is not explicitly endorsed by anyone , because it's a pejorative. That's like saying "totalitarianism is popular in some countries"; you might think those countries are totalitarian, but they don't.

Indeed. Even then, as a term, it refers to a specific regan-era tax policy. What many on the left assume it means, is a sincere description of growth "raising the tide"; and how ridiculous an idea that is. Of course the tide has risen to an unprecedented degree in human history both since the term "trickle down" was invented; and moreso, over the last 40 years.

Except the tide you're describing is global, and the policy in question was domestic, and wages and assets within the middle and lower economic classes have indeed stagnated in relation to almost every other economic indicator within the country, which is why "many on the left" consider this argument to be invalid.

Re: Statement of SEC Regarding Recent Market Volatility

#637

Post by zamalek »

esoterica wrote: post #593
boublepop wrote: post #352

Earlier quoted context omitted.

It is aimed at the people who shut down buying GME, then tried to create a downward trend at unusual low volumes to try to scare the wallstreet bets crowed into abandoning their positions in GME to allow short positions to recoup their gigantic losses. It failed mind you. The shorts are still bleeding and the GME hold is continuing though just at a slightly reduced price. Retail investors who have bought GME can affo…

This is QAnon/Kraken/Dominion level crankery. The MAGA types are happy to believe in voter fraud conspiracy theories with no evidence because they hate the Democratic party, and here you are doing literally the exact same thing here except replacing "Deep State" with "hedgefond managers". People like you make fun of the QAnon-types but you're just as willing to indulge in deranged evidence-free conspiracy theorizing…

Shorting more than 100% of the stock is excessive and irresponsible. That figure is not a conspiracy theory: it is public information that the SEC releases monthly.

Whether hedge fund managers did make a call to their buddies is not the only thing in question here (although the SEC will surely determine the truth). Shorting a stock drives the price down and, while this is no less legal than buying a stock, the question is whether shorting 136% of the stock counts as outright manipulation. Reddit kids have done nothing but pop an artificial bubble, they did not participate in manipulation; as the hedge fund managers and their buddies claim.

> QAnon

I have yet to see the baby cookbook or other evidence of their ridiculous claims.

Re: Statement of SEC Regarding Recent Market Volatility

#638

Post by pas »

andrewprock wrote: post #575
mcguire wrote: post #480

Earlier quoted context omitted.

On the other hand, many people who reason from first principles fall into two fallacies: First, they believe that their system is how the world should work, and therefore how it would work if only someone, somewhere, weren't interfering. The result is conspiracy theories. Second, they have not fully thought out the consequences, or don't care about them, and dismiss the historical consequences of similar systems in t…

I can only applaud this succinct diagnosis of the difficulty in dealing with online debate.

Offline debates tend to be even worse. You usually don't have time to read it at your pace, whoever talks to you will keep making sounds, etc.

Re: Statement of SEC Regarding Recent Market Volatility

#639

Post by shakezula »

NoOneNew wrote: post #300
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.

Everything on WSB states this is a bad investment plan and is more to bankrupt Melvin because they tried to bankrupt Gamestop. Short sellers have been using the down turned economy to collapse struggling companies that hire everyday people. What's funny is how the HN community tries to defend the firms they've whined about for years. Is what's going on irrational? Yup. But it pulls back the curtain of what the financ…

I think what really turned up the anger level on this specific instance is that they just turned the market off when it didn’t go their way. That’s just such a colossal breach of trust.

Re: Statement of SEC Regarding Recent Market Volatility

#640

Post by JKCalhoun »

xster wrote: post #237
tompccs wrote: post #212

Earlier quoted context omitted.

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…

This seems like a strawman. The OP isn't arguing against outsider/non-expert discussion. He's just satirizing HN's specific tendencies to spin off of a headline/article first glance into a let-me-teach-you-something fan fiction vs fan fiction argument.

A agree that is what OP is doing. Disagree that we can dismiss all HN comments unless they are experts in said field.
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