Thanks for the good wishes. I do okay in stocks (through the diversity, buy, and hold strategy that is pretty close to guaranteed "get rich slowly"). But, I'm no savant. I've made mistakes. Tesla, however as well as a few other massively overpriced bubbles are pretty easy to spot even for normal people.
Stock analyst are barely better than a coin flip and basically chase hype. Professional traders don't care about long term, they care about how much they can make in the next quarter. And they are aren't going to tell you what they are actually doing.
I just opened up CNN Business to see this headline and thought you nailed it "Wall Street’s dirty secret: It’s terrible at forecasting stocks".
Wall Street is just fine at picking stocks - their trading desks are generally profitable. The information they make public is total shit though, yes. After all, Wall Street has a direct financial interest in keeping useful information to themselves!
And yet people still believe they are about to get rich quick off the newsletter they subscribe to gives them that amazing tif, all the while they are just pawns in yet another pump and dump scheme. The amount of bullshit that goes unchecked is mind numbing. It sucks watching it from the inside too…
Yes, as soon as I met a friend of mine a few years back and he told me about the ultra low latency interconnects he used to build for the banks is when I became absolutely certain that investing in individual stocks is a bad idea long term. Sure you will win sometimes but just like at a casino the house eventually takes you to the cleaners.
High frequency trading, algo, ai, shouldnt concern you too much to if you are long?
No. Everything is in a bubble, and if it wasnt for those four factors this bubble would still be inflating.
They cant be shit and be pros at the same time. There is plenty of big funds outthere that is long.
Yes, that all makes sense - I should have been more clear but I think we are basically talking about the same thing. If you buy stocks and hold them for a long time you aren't really trading against Wall Street because...well...you aren't really trading.
Telsa vs many stocks. Yep, you are right, can't possibly tell them apart. Everything is in a bubble.
It isn't a wish. It isn't backdating. It was really what many of us actually were predicting in the past. I posted this before but here is what was posted in 2021:
forums.anandtech.com
Ponyo was annoying and arrogant in his own way.
I'm also unable to log into Twitter.
Can confirm I'm getting the same error when I try to log in. Looks like it's widespread.
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