Comment on The Lottery is state-sanctioned fraud.
Etterra@discuss.online 2 months agoI mean traditionally the stock market is gambling up to a certain point, after which it becomes a way for the rich to continue getting richer without having to work. You have to make enough money to be able to buy extremely stable investments (like commodities and government bonds) with low dividends in enough volume to just get noticably richer, along with a diverse spread of low to moderate risk to help push the numbers up. The problem is that the initial investments need to be high to do all that.
IronBird@lemmy.world 2 months ago
nah, the stock market was literally started as a casino for rich people. Basically just a way for old money to steal $ from new money.
the point though is…once you realize/understand it’s not a game of chance, that the odds are not 50/50…making $ is incredibly easy. beating 10-15% a year is incredibly easy with minimal risk. there are scaling issues past a certain point, first wall is 100k (then you can get port-margin) after that it’s first million or 2 (eventually yoy start getting reporting requirements and shit, needing to call your broker to make moves etc.
in fact, for those in the know there’s this little game they play where they try and see how far they can take the least amount of money. just as a challenge and to “keep their instincts sharp”. starting with 10-50$'s and seeing how far they can take it.
due to how US markets are (un)regulated compared to the rest of the worlds, the people being milked are pensioners and whatnot buying into the casino mindlessly with each paycheck. like when something gets accepted into the sp500…that’s “time to dump on the zombies/npc’s”. it makes zero sense to buy some <1% dividend from a company trading at 1-200pe but there are loads of those in the big indexes during everything bubbles like this.
everyone in government long-term knows this, especially every republican…that’s why they’re trying to crash the economy. boom and bust “investing” has been turned into a science, in america.
there’s an old book called Reminiscences of a Stock Operator that lays it out very well, was written over a century ago. it’s kind of like Wolf of Wallstreet, a tongue in cheek behind-the-curtain look at just how corrupt this whole fucking system we’ve built is.