Profiting on Stupidity and Lies
I may be slow...because I finally became sure that often the best profits in equities are made in taking advantage of fake news and the government's efforts to scare the public. My biggest gainer lately has been a monkeypox vaccine producer...just one example. I feel like I'm being very Objectivist in this. What are your thoughts? If you know the truth but the public is believing the lies and fear being peddled is it ok to profit from it? Philosophical question. If the government comes out and says we need to water the crops with Brawndo do you go public and say this won't work or do you buy Brawndo stock? (Idiocracy reference there...)
The above is what wall street has been doing for the past 50 years, with the assistance of CEOs who were rewarded with bonuses in the tens of millions for converting "productive assets" into "financial assets."
Wall Street rewards zero sum activities that produce nothing while promoting publicly "investments" designed to steal from the public and enrich Wall Street insiders and their government collaborators.
Wall Street is as corrupt as DC and deserves the same fate, execution for treason.
Now in AS, Francisco was quite clear what he was doing and why. Not quite the point of Abaco's" question or is it?
In the past I have gone with Abaco's* first answer- the criticism, but my position should be- Nature tells us that a fool and his money are soon parted, make soon into sooner.
Do you want to profit from Covid scares by buying shares of Moderna?
Do you want to profit from pump and dump manipulations?
Wall Street is completely corrupt.
Examine your own ethics.
Nobody else can.
Everyone else is.
Go where you are treated best.
There’s my 4 simple rules.
I am a very charitable individual.
But, nobody better try to coerce my charity.
Nor do I coerce other’s charity.
But, I do take advantage of people’s stupidity on occasion. Especially if I find them offensive ideologically.
FFA is correct....it’s all in your own ethics.
And I believe we will answer to God for our transgressions on our fellow man. But, that’s MY belief. You do you boo. Two things I no longer argue are Jesus and prepping. You either accept it or you don’t. It matters not to me.
I will not support groups that actively participate in coercion. All the VAX mandate companies for example. Even though I was at one time vaxxed.
In “another life” I held many of the same beliefs as a SJW. But, the other SJWs drank their KoolAid to the bottom of the cup. I only got a few sips in before I started vomiting.
I will not try to SCARE people into doing something. Fear is a form of Coercion. So I guess profiting from fear mongering is, in effect supporting it.
Coercion is the key.
1-It's a way to say that the stock has been artificially over valued and needs to be tapped down back to reality.
2-It's an incentive for inside trading, an incentive for people to plot for destruction and profit from it. It's easier to destroy than to create.
If you predict a company will go down and you short the stock, you're selling crap to someone else. I suppose that Caveat Emptor is in play, but you have to decide if you can sleep a good night after doing that.
I'm not some big-time trader. Not full-time. I'm very "objective" when looking at investments. Very Spock-like...
In terms of shorting - Over the years I've watched very prominent elected officials set up big shorts, probably for their cronies.. That's all I better say about that...