Stocks Up $1T Since October • Hacker News Board

Re: Stocks Up $1T Since October

#21

Post by shard972 » Sun, Jan 26, 2020, 6:07 AM UTC

WalterBright wrote: post #11

drewblaisdell wrote: post #8

Earlier quoted context omitted.

You are being downvoted but I think this point is important: increasing stock prices disproportionately benefit the wealthy and widen the gap between rich and poor. edit: and now I am being downvoted for merely pointing this out.

Much of the wealthy got that way by investing in stocks to begin with. If you don't invest in stocks, you won't benefit from a rising market. Why not do the obvious, and start investing yourself? Don't invest in lottery tickets, which are mathematically a losing game.

Most wealthy people today didn't amass their fortunes through playing the stock market.

Re: Stocks Up $1T Since October

#22

Post by ekianjo » Sun, Jan 26, 2020, 6:07 AM UTC

drewblaisdell wrote: post #8

treelovinhippie wrote: post #2

[flagged]

You are being downvoted but I think this point is important: increasing stock prices disproportionately benefit the wealthy and widen the gap between rich and poor. edit: and now I am being downvoted for merely pointing this out.

> increasing stock prices disproportionately benefit the wealthy and widen the gap between rich and poor.

Everything including stock prices disproportionately benefit the wealthy and widen the gap between rich and poor. Not sure what kind of point you are trying to make. When you are much richer than anyone else, you are bound to keep growing your assets at a faster space than anyone else too. It's the nature of compounding.

Re: Stocks Up $1T Since October

#23

Post by throwaway2048 » Sun, Jan 26, 2020, 6:08 AM UTC

ThrowawayR2 wrote: post #16

jjeaff wrote: post #10

Earlier quoted context omitted.

Just spitballing here, but I'm thinking the bottom 90% doesn't own much stock due to lack of funds. Not because they don't know how or because transaction fees are too high.

" The poorest third of households buy half of all lotto tickets, according to a Duke University study in the 1980s, in part because lotteries are advertised most aggressively in poorer neighborhoods. " https://www.theatlantic.com/business/archive/2015/05/lotteri... [EDIT] It's not an insignificant amount either: half of $70 billion. From the same article: " According to the North American Association of State and Pro…

I bet they have televisions too, the sheer audacity

Re: Stocks Up $1T Since October

#24

Post by nif2ee » Sun, Jan 26, 2020, 6:08 AM UTC

Thanks to the Fed and quantitative easing, many entrepreneurs and investors who became super rich thanks to this scheme are now spamming my youtube and twitter homepage about their wisdom in everything in life from artificial intelligence to history just because they think they are geniuses and entitled to teaching the poor souls with mental deficiencies (everyone who isn't worth at least tens of millions of dollars) about everything and anything.

It's amazing that once you become super rich, everything you say becomes a wisdom quote unless you're Trump of course.

Re: Stocks Up $1T Since October

#25

Post by WalterBright » Sun, Jan 26, 2020, 6:08 AM UTC

tempsy wrote: post #19

Never talk about stocks on HN. You will be downvoted by people who missed out on the 10 year bull market and desperately trying to justify their mistake by saying its a rigged scam that is akin to playing roulette at a casino.

I've been investing for 40 years. It's the same old story - there's no point in investing now, the market is as high as it will ever go.

Fast forward a few years, there's regret one didn't invest, but now the market is as high as it will ever go, so not investing again.

Rinse, repeat. A lifetime of missed opportunity.

Re: Stocks Up $1T Since October

#26

Post by WalterBright » Sun, Jan 26, 2020, 6:10 AM UTC

nitrogen wrote: post #17

WalterBright wrote: post #13

Earlier quoted context omitted.

You can start investing in stocks for as little as $1. Lack of funds is not the problem.

If I only have $2, why would I put $1 in stocks when I could put all $2 in food?

You can always find an excuse to not invest.

Re: Stocks Up $1T Since October

#27

Post by lliamander » Sun, Jan 26, 2020, 6:10 AM UTC

WalterBright wrote: post #25

tempsy wrote: post #19

Never talk about stocks on HN. You will be downvoted by people who missed out on the 10 year bull market and desperately trying to justify their mistake by saying its a rigged scam that is akin to playing roulette at a casino.

I've been investing for 40 years. It's the same old story - there's no point in investing now, the market is as high as it will ever go. Fast forward a few years, there's regret one didn't invest, but now the market is as high as it will ever go, so not investing again. Rinse, repeat. A lifetime of missed opportunity.

Surely a recession would be a good time.

Re: Stocks Up $1T Since October

#28

Post by WalterBright » Sun, Jan 26, 2020, 6:12 AM UTC

ekianjo wrote: post #22

drewblaisdell wrote: post #8

Earlier quoted context omitted.

You are being downvoted but I think this point is important: increasing stock prices disproportionately benefit the wealthy and widen the gap between rich and poor. edit: and now I am being downvoted for merely pointing this out.

> increasing stock prices disproportionately benefit the wealthy and widen the gap between rich and poor. Everything including stock prices disproportionately benefit the wealthy and widen the gap between rich and poor. Not sure what kind of point you are trying to make. When you are much richer than anyone else, you are bound to keep growing your assets at a faster space than anyone else too. It's the nature of comp…

Percentage-wise, it grows at the same rate for each investor.

Re: Stocks Up $1T Since October

#29

Post by rapind » Sun, Jan 26, 2020, 6:14 AM UTC

WalterBright wrote: post #5

treelovinhippie wrote: post #2

[flagged]

Any adult in America can buy stock and participate. At Robinhood.com, you can buy fractional shares for as little as $1 and no commission on the trade. No, I'm not a robinhood user nor do I own stock in robinhood. It's just an example of how it is never been easier for any American to invest in stocks.

So the logistics of obtaining stock have been solved. That seems like a great and necessary step in the right direction.

"84% of US stocks are owned by the richest 10%" sounds like it could turn into a really big problem though. What can we do next? Why isn't everyone participating?

Re: Stocks Up $1T Since October

#30

Post by WalterBright » Sun, Jan 26, 2020, 6:14 AM UTC

lliamander wrote: post #27

WalterBright wrote: post #25

Earlier quoted context omitted.

I've been investing for 40 years. It's the same old story - there's no point in investing now, the market is as high as it will ever go. Fast forward a few years, there's regret one didn't invest, but now the market is as high as it will ever go, so not investing again. Rinse, repeat. A lifetime of missed opportunity.

Surely a recession would be a good time.

Only in hindsight. It takes extra large intestinal fortitude to invest in a recession. I've generally lacked such guts.