With Robinhood, “you’re able to put it on your homescreen and flip between Instagram and Snapchat; it doesn’t feel as serious as it used to,” he said. “It’s just an app you open up on your phone, there’s graphs, and numbers, and it’s easy to understand and learn really quickly.”
Many young users on the WallStreetBets forums have complained that no matter what they do, the deck is always stacked against them. Many say they seek to expose the entire financial system for the game that it is. Meme stocks are part of that. Some will hype up a novelty stock or trade it as a stunt.
Posts tagged investment
The only reason that anyone could be induced to take part in such a dangerous business was the fabulous profit that could be made. Gideon Allen & Sons, a whaling syndicate based in New Bedford, Massachusetts, made returns of 60% a year during much of the 19th century by financing whaling voyages—perhaps the best performance of any firm in American history. It was the most successful of a very successful bunch. Overall returns in the whaling business in New Bedford between 1817 and 1892 averaged 14% a year—an impressive record by any standard. New Bedford was not the only whaling port in America; nor was America the only whaling nation. Yet according to a study published in 1859, of the 900-odd active whaling ships around the world in 1850, 700 were American, and 70% of those came from New Bedford.
Here are the criminal indictment and Securities and Exchange Commission complaint against Martin Shkreli, who was arrested today not for jacking up prices for lifesaving drugs, not for buying the only copy of a Wu-Tang Clan album and not listening to it, not for being generally vile on Twitter and in interviews, but just for garden-variety securities fraud. Here’s how the indictment describes the early going at Shkreli’s second hedge fund, MSMB Capital
Now, in the case of climate change, because there’s so many possible solutions, it’s not like the Manhattan Project. I don’t think anyone’s saying, “Hey, pick just one approach, and pick some ranch in New Mexico, and just have those guys kind of hang out there.” Here, we want to give a little bit of money to the guy who thinks that high wind will work; we want to give a little bit of money to the guy who thinks that taking sunlight and making oil directly out of sunlight will work. So there’s dozens of those ideas, and there’s enabling technologies for those ideas. That’s the kind of thing that we should be funding more of.