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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock. (www.theverge.com)
submitted 2 years ago by [M, B] to c/technology@lemmy.world
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A lot of Redditors hate the Reddit IPO | Reddit warned us that its users were a risk factor, and boy do they sound excited about shorting its stock.::Reddit seems like a likely candidate for a meme stock. But the actual reaction suggests that r/WallStreetBets isn’t going to send the stock to the moon.

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[–] 91 points 2 years ago (2 children)

A reminder that the stock market and any kind of high level money market of any kind including digital money .... is a rich man's game where poor are by design destined to lose.

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  • [–] 21 points 2 years ago (2 children)

    This is a gross over simplification. Yes, rich people can have higher risk tolerance, but that doesn't mean people shouldn't be going long on index funds and otherwise safe, low risk investments for retirement with what they can afford to.

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  • [–] 14 points 2 years ago (1 child)

    Yes, rich people can have higher risk tolerance

    It's not just risk tolerance. The very rich can manipulate the market in ways that the poor can't.

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  • [–] 9 points 2 years ago (1 child)

    You don't need to manipulate markets to dollar cost average the S&P500 for 40 years and retire. This is a get rich slow scheme that's worked since the inception of index funds.

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  • [–] 2 points 2 years ago (1 child)

    Yeah, and some rich people may do that. But, other rich people aren't satisfied with the returns of an index fund, so they'll manipulate the markets to get higher returns.

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  • [–] 2 points 2 years ago

    I don't know what you're trying to get at. The original comment stated the stock market is a rich man's game that poor men are designed to lose. I pointed out that anyone with extra income can take advantage of the stock market and not lose. Just because rich people can take advantage of market manipulation doesn't mean poor people have to lose.

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  • [–] 11 points 2 years ago

    And then listen to every asshole yell 'but think of their retirements!!1!' when the stock market shits itself.

    Fuck this system. It's original intent is way long gone, and we should stop pretending it's helping anyone but the rich.

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