I have two friends who are really into stocks and trading and I’m just over here reading theory.
It's gambling. I was out work and desperate, so I tried trading for a few months. It helped me pay for a semester in school, but the idea of losing what little savings I had was stressful and stupid.
Because capitalism seems anything that lessens the rate of profit as “inefficient” and has thus cut the pension as the stable means of retirement, meaning that the worker must gamble their own wages by giving it to other capitalists in the hopes that they don’t fuck it up. Dumbest shit I’ve ever heard.
Yeah I found out today that one of my friends got a few thousand dollars from his dad to do day trading with. We gave him a lot of shit for that guys don't worry.
I studied finance in university for ~2 years before ditching it, I even won a big equity pitching competition, and the biggest takeaway I have is that even hedge fund ghouls who spend 15 hours a day in an office barely beat the market return on average (if at all).
At that stage in my life i thought i was going to follow the petit bourge path of becoming some shitty investment banker (thank god my love for art/music kept me from going into a career that drains your fuckign soul, even though I hadn't yet been radicalized to hate the finance industry). The most vindicating thing was when the "smart kids" who were in a prestige "student portfolio club", who I spent like a year being envious of, failed to beat the S&P 500 return 2 years in a row, and I kind of realized the whole thing is a giant fucking confidence trick
Basically everytime a recession happens there's a big flash crash and stocks are super cheap for a week or two, everyone shits their pants, sells and then stocks go up to the same levels in like a month or two.
Basically it was a good time to invest, you pretty much doubled everything (if not x50 for tech) if you bought sometime in march (just so long as it wasn't oil/airlines/cruise ships lmao). Saw a guy on r/wsb go from 25k to 1 mil on options, econ major. But don't worry about FOMO, they'll be like another 15 recessions in your lifetime. Market is apparently worth more than before the pandemic (when it was already the most overvalued it's been in decades).
If the union/workers owned a significant amount of shares it could work. Because if outsider investors demand to buy goes up so do their share prices, so it can sort of 'equal' out share dilution . I guess most workers are not paid enough to do so. It would be cool if a company wanted to go public they had to distribute a significant set of the shares between workers. I think Corbyn was trying to do something similar? Also Waitrose (UK supermarket) gives dividends to their workers, and few of my friends really appreciated that whilst they were working part time, but it's still a bit of "big corporate happy family" ugh vibe
Because you showed up to Sunday mass drunk and mooned the vicar
I'm not sure, but it could have something to do with the fact that they are utter morons.
Some brokers offer free stocks for anyone who gets a friend to join.
