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There’s Nothing to Do Except Gamble

nymag.com

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Re: There’s Nothing to Do Except Gamble

#81

Post by nonameiguess »

jonfw wrote: post #65
paulpauper wrote: post #24

Earlier quoted context omitted.

My answer to these questions and other unknowns about the fed, fiscal policy, America and its role in the world, the economy etc. is that the future will be a lot like the present, but more so. So extent the current trends into the future. Sure, things sometimes change, even dramatically such as the fall of the USSR or 911, but we are living in a steady-state world in which the underling trends do not change. Inflati…

I bet the romans said the same thing

Most of them were right. Rome lasted for 950 years. All things must pass, but it isn't likely to happen in your lifetime.

Re: There’s Nothing to Do Except Gamble

#82

Post by paulpauper »

second--shift wrote: post #55
paulpauper wrote: post #9

How many people are actually getting rich with NFTs besides people who who are already celebrities/famous? Not many. The market is flooded now with NTFs. The overwhelming majority of listings do not sell or sell for little. A better way to make money is with 3x ETFs using options strategies, which I am working on. The performance of some of the major 3x funds such as TECL, FNGU, and TQQQ surpass even Bitcoin

The contango drag on 3x ETFs is hilarious - good luck on your endeavors sir, I've got futures contracts for sale for your fund manager to buy.

no it's not. it is actually positive due to the dividends . a 3x funds pays 3x the dividends . the borrow cost is only 1%, versus 2% dividend

Re: There’s Nothing to Do Except Gamble

#83

Post by alecst »

real-dino wrote: post #71

GME is actually quite a solid gamble, and could lead to what people are referring to as the MOASS. https://iamnotafinancialadvisor.com/DD/GME/og/GMEv14.pdf It hasn't alreadys been like this, but everything has been turned into overdrive. Where people were talking about 10% returns on investments, people are getting 1000% returns on investment. There is some bubble going on at the moment with the repo-market, hyper in…

I'll take you up on that.

What's your thoughts on how many GME investors are retail vs. institutional? Any idea on what the breakdown is like?

Re: There’s Nothing to Do Except Gamble

#84

Post by kipchak »

jfengel wrote: post #64
wayoutthere wrote: post #23

The “woe is me, how do I know how to invest?” drivel in this article is solved by a sufficiently diversified portfolio. The article even admits that these shenanigans have no impact on the larger market — so invest there. If you want to take on more risk, great — but with great risk comes lots of market manipulation. The wider public is now learning what every MBA is taught in investment theory classes: investing is…

I have begun to worry that broad indexes are themselves becoming a problem. As that advice seeps out, a lot of people are buying "the market". Which has long been good sensible advice, because the market as a whole genuinely produces wealth, but it's not inexhaustible. The S&P 500 P/E ratio is up over 40, a number it has seen only twice before and both immediately before crashes. P/E is an imperfect measure, especial…

I think buying the right "the market" can help too. For example I might think Singapore is attractive at a P/E of 12 and buy the EWS etf.

Re: There’s Nothing to Do Except Gamble

#85

Post by eli_gottlieb »

diamondhandle wrote: post #26

Our job in life is to engage in value creation. When money is decoupled from value creation, your long-term bet is that it will lose its value, as value creation is what actually matters in the “real” world. This is also why “crypto” (the asset class, not technology) is so corrosive, because it makes people who have done approximately nothing to create value in society, but who’ve enjoyed a massive boost in monetary…

>Our job in life is to engage in value creation.

I don't think there's any non-tautological way in which this can be simultaneously true and not an oppressive imposition by capitalism.

Re: There’s Nothing to Do Except Gamble

#86

Post by electrondood »

diamondhandle wrote: post #26

Our job in life is to engage in value creation. When money is decoupled from value creation, your long-term bet is that it will lose its value, as value creation is what actually matters in the “real” world. This is also why “crypto” (the asset class, not technology) is so corrosive, because it makes people who have done approximately nothing to create value in society, but who’ve enjoyed a massive boost in monetary…

The bizarre part is that the speculation does create "value," in terms of appreciation. But it's a Ponzi scheme, and whoever cashes out before everyone else has the same idea wins.

Re: There’s Nothing to Do Except Gamble

#87

Post by goodcanadian »

i_haz_rabies wrote: post #47
diamondhandle wrote: post #26

Our job in life is to engage in value creation. When money is decoupled from value creation, your long-term bet is that it will lose its value, as value creation is what actually matters in the “real” world. This is also why “crypto” (the asset class, not technology) is so corrosive, because it makes people who have done approximately nothing to create value in society, but who’ve enjoyed a massive boost in monetary…

What skills can you guarantee (or at least say with high confidence) will be valuable in 20 years? I can't really think of any except maybe "soft skills" and whatever skills allow you to build a large network.

Plumbing, electrical, basic construction skills, most trades, really.

Re: There’s Nothing to Do Except Gamble

#88

Post by onlyrealcuzzo »

diamondhandle wrote: post #26

Our job in life is to engage in value creation. When money is decoupled from value creation, your long-term bet is that it will lose its value, as value creation is what actually matters in the “real” world. This is also why “crypto” (the asset class, not technology) is so corrosive, because it makes people who have done approximately nothing to create value in society, but who’ve enjoyed a massive boost in monetary…

2% of the world's wealth is tied up in crypto (and it's growing quickly). If it does implode, that'll make The Great Financial Crisis look like blip.

At this point, I can't imagine financial regulators doing anything to stop it.

Re: There’s Nothing to Do Except Gamble

#89

Post by throwaway0a5e »

i_haz_rabies wrote: post #47
diamondhandle wrote: post #26

Our job in life is to engage in value creation. When money is decoupled from value creation, your long-term bet is that it will lose its value, as value creation is what actually matters in the “real” world. This is also why “crypto” (the asset class, not technology) is so corrosive, because it makes people who have done approximately nothing to create value in society, but who’ve enjoyed a massive boost in monetary…

What skills can you guarantee (or at least say with high confidence) will be valuable in 20 years? I can't really think of any except maybe "soft skills" and whatever skills allow you to build a large network.

There is no skill that doesn't require upkeep over 20yr.

Everything that was valuable in 2001 is still of about the same value now. But the mechanics who didn't want to diagnose electronics and the accountants who refused to learn computers and the programmers who only wanna write php have seen their skills reduced in value because they did not maintain currency.

Being responsible for the work output of other people and doing your job somewhere unpleasant or dangerous pretty much always increases your pay.

Re: There’s Nothing to Do Except Gamble

#90

Post by sigstoat »

JMTQp8lwXL wrote: post #69
diamondhandle wrote: post #26

Our job in life is to engage in value creation. When money is decoupled from value creation, your long-term bet is that it will lose its value, as value creation is what actually matters in the “real” world. This is also why “crypto” (the asset class, not technology) is so corrosive, because it makes people who have done approximately nothing to create value in society, but who’ve enjoyed a massive boost in monetary…

Did Visa create no value in society with plastic payment cards? If crypto is valueless, payment processors are valueless too. It's unfortunate that Visa gets a 2% tax on the economy, but the convenience of plastic or a public/private keypair unlocks more economic growth compared to a world with only paper cash.

> on the economy

a 2% "tax", on retail sales, at best.

b2b, c2c, and large dollar b2c generally don't go through visa.

calling it a "tax" is nauseating. you get something from visa, and you can choose not use them, if you'd like. it's the rare place that won't take at least a few other alternative payments, including cash.

it's a rarer tax yet that you can choose not to pay.

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