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发表于 2021-2-1 11:52:36
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I see a lot of people, including the media, keep on emphasizing that GME isn't worth its current price based on its business fundamentals. Which is completely irrelevent at this critical moment in time.
Most people, even those who know nothing about finance, know that as a business, GME isn't worth much. BUT we also know, in addition to instrinsic value, the value of an object is also what someone else is willing to pay for it. Even if I own a piece of shit, if I know someone else out there desperately needs this piece of shit that I own, then suddenly the piece of shit isn't worthless anymore because I can make him pay through the nose for it.
Now, is this "right"? I also see a lot of people arguing that this distorts the market and whatever. So is it immoral or wrong to squeeze the shorts? I would argue that the entire financial market is amoral, meaning there isn't any right or wrong.
Nobody goes into a financial career to make the world a better place or to help other people. Everyone who is in investment has gotten into it to get rich. And these guys would never hesitate to screw other people to make a quick buck.
Currency speculation, derivatives, high frequency trading, all these things manipulate and distort the markets, and yet they are common tools of the financial elites to game the system and fill their pockets.
Hundreds of years ago, the banking industry was born to facilitate commerce between nations. It was too difficult and dangerous for trade caravans to carry sacks of gold around to settle their trade. So you needed a system of credit which developed into the financial industry of today. The original purpose of finance was to serve a supporting role to facilitate in the trading of actual products and services. Today, the financial industry is primarily an industry unto itself, and continually invents new sketchy financial products based on convoluted arcane formulas that they can't even explain. Basically today's financial industry is a modern version of alchemy & witchcraft where practitioners try to conjure money out of thin air.
Against this backdrop, accusing redditors of market manipulation is even more absurd than the kettle calling the pot black. Its more like (the young) Mike Tyson accusing a little kid of being too violent, or the US (with all its nuclear and other weaponry) accusing some poor third-world country of threatening world peace..... oh wait... nvm. |
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楼主: pubes
