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More men are addicted to the 'crack cocaine' of the stock market

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Re: More men are addicted to the 'crack cocaine' of the stock market

#101
post #95

Earlier quoted context omitted.

I know what kind of havok a gambling addiction can cause, and it's no joke. It's powerful enough (for some people, at least) that a comparison to addictive drugs generally is apt, yet the traps are everywhere and usually legal. Exploiting the psychological weakness that underpins gambling addiction is something sought after and optimized for outside of overt gambling, like modern video game mechanics, social media, c…

You have to see real crack addiction in action. It’s not over-hyped at all. It’s just that not everyone gets addicted to it. People get hung up on physical addiction, but the mental obsession is the real destroyer. Most folks aren’t wired for that kind of obsession. They can get physically addicted to opiates, quit, and never go back. I’ve seen exactly that. I’ve also seen folks become so obsessed with pot, that it m…

Well I can't say I've known any crack addicts really, only met a couple people who have tried it. I've known some people who got into cocaine and were never quite the same, though. Also some people who started out fairly respectable, got into opiates, may or may not have robbed people and betrayed friends and family in service of the addiction, and then died to it.

But my criticism of the 'crack is scary' meme isn't coming from personal experience, really. From what I've read and from what I understand of the chemistry, and having lived through the era where crack was all over the news, and where possession of the drug got the harshest sentences... I do believe it was relatively over-hyped, and that a big part of what made crack scary is that it was something poor black people in cities did.

Re: More men are addicted to the 'crack cocaine' of the stock market

#102

I remember a controversial scamming figure in Italy that made millions by selling lucky numbers for lotteries or exploiting people's stupidity to part them with their life savings. Her motto was "idiots _have_ to be scammed". While this figure was morally and ethically deplorable, it always made me think how her motto essentially implied that there was an element of pure natural selection happening and she saw hersel…

Humans are slow, weak, eminently munchable. Lions, tigers, bears, etc., can really chow down on humans. The issue with humans, though, is they gang up, real good. Eat one (that others care about), and twenty come after you with belt-fed machine guns. Psycopaths may consider themselves to be predators, and "suckers," prey, but they tend to suffer the same fate as maneater lions, if they eat the wrong prey.

Descriptively not obvious at all.

Re: More men are addicted to the 'crack cocaine' of the stock market

#103
post #89

Dupe: https://news.ycombinator.com/item?id=42473081

On HN a post only counts as a dupe if it got significant attention, which that one didn't (only 3 points and 2 comments - but we'll merge the comments hither) When an article hasn't had significant attention yet, we let reposts through (after 8 hours) - this is on purpose, to give good articles multiple chances at getting attention. Of course that leaves the submitters in a bit of a lottery situation, but it at least…

Understood, thanks dang! I think sometimes I just get annoyed because I see something I posted earlier getting reposted. I’ll try not to let it get to me going forward lol.

Re: More men are addicted to the 'crack cocaine' of the stock market

#104
post #22

I remember a controversial scamming figure in Italy that made millions by selling lucky numbers for lotteries or exploiting people's stupidity to part them with their life savings. Her motto was "idiots _have_ to be scammed". While this figure was morally and ethically deplorable, it always made me think how her motto essentially implied that there was an element of pure natural selection happening and she saw hersel…

Don't believe what you read on WSB. Most of those clowns are getting Internet karma points by making up stories, not by losing real money.

I can assure you that many of the posts there are real. If you have market data you can verify the transactions yourself.

Re: More men are addicted to the 'crack cocaine' of the stock market

#105

At one point I knew I could beat the market with l33t software skills. I was wrong and only realized it after donating about 3k to Wall Street.

I too don’t understand why technical analysis isn’t classified as a genre of fiction…

The market is a mind game. If enough market participants care about it, then it defacto becomes a signal to be aware of.

In fact if you're a trader (not a long term investor) that manages to make money in the markets you will by definition use some form of technical analysis.

Re: More men are addicted to the 'crack cocaine' of the stock market

#106

I remember a controversial scamming figure in Italy that made millions by selling lucky numbers for lotteries or exploiting people's stupidity to part them with their life savings. Her motto was "idiots _have_ to be scammed". While this figure was morally and ethically deplorable, it always made me think how her motto essentially implied that there was an element of pure natural selection happening and she saw hersel…

Whats the difference between "idiots have to be scammed" vs "people who can't fend off a knife fighter while en route to the grocery store have to be stabbed"? Some people are gullible, or trusting. This doesn't mean they don't have other gifts, or most of all good intentions. Applying an evolutionary pressure against people who can't fend off knife attackers is ultimately useless for human wellbeing The real issue i…

[deleted]

Re: More men are addicted to the 'crack cocaine' of the stock market

#107
post #77

Earlier quoted context omitted.

The market is not efficent. The fundamentals are only partialy priced in. However finding the times when the difference is significant is not easy.

The market is definitely efficient. Try to find arbitrage opportunities (which is what actual market inefficiency is); they disappear in milliseconds. What you're saying is that it's not infallible as far as predictive power is concerned, which is true. But every current bit of knowledge is definitely priced in.

Markets are efficient over long time spans but in short term are definitely inefficient. You can just look at volatility during earnings and lack of liquidity in small caps.

Re: More men are addicted to the 'crack cocaine' of the stock market

#108

I remember a controversial scamming figure in Italy that made millions by selling lucky numbers for lotteries or exploiting people's stupidity to part them with their life savings. Her motto was "idiots _have_ to be scammed". While this figure was morally and ethically deplorable, it always made me think how her motto essentially implied that there was an element of pure natural selection happening and she saw hersel…

Social Darwinism is the cornerstone of protofascists, their main moral justification, so I'm not surprised to see it comeback tbh.

Re: More men are addicted to the 'crack cocaine' of the stock market

#109

I remember a controversial scamming figure in Italy that made millions by selling lucky numbers for lotteries or exploiting people's stupidity to part them with their life savings. Her motto was "idiots _have_ to be scammed". While this figure was morally and ethically deplorable, it always made me think how her motto essentially implied that there was an element of pure natural selection happening and she saw hersel…

That's where you make your fundamental mistake. We are not programmed for self preservation.

Inside us, there are different drives that shape our behaviour.

Re: More men are addicted to the 'crack cocaine' of the stock market

#110

I remember a controversial scamming figure in Italy that made millions by selling lucky numbers for lotteries or exploiting people's stupidity to part them with their life savings. Her motto was "idiots _have_ to be scammed". While this figure was morally and ethically deplorable, it always made me think how her motto essentially implied that there was an element of pure natural selection happening and she saw hersel…

Now do drug-development.
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