Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: The_Commodore who wrote (66319)	1/29/2021 12:07:12 PM
From: petal	Respond to of 78958

In my experience, the vast majority of people working in finance seem to know far less about finance than individual outside of finance that are interested in finance. Or, as Chamath said, "some of the DD I've seen on WSB is as good or better than that I see from hedge funds I work with". Also, it seems to me doubtful whether most people working in finance actually contribute anything to society, or even, in a stricter sense, to the economy. It seems to me rather the industry as a whole are an animal of prey, feeding on the economy and just consuming as much of it as they can, putting the proceeds into private, tax-haven pockets. Sure, there are people in the business who are honest, knowledgable people. They are also some blue-eyed fools. But I think that they are in the "vast minority". I don't think the average Joe needs finance people's help to understand finance, and more often or not, are mislead/conned by them. I see Wall Street as little more than a conning machine where the insiders rip outsiders eyeballs out. I think that the little guy is almost never helped by the big firms, who are standing on the shoulders of the downtrodden masses and have zero interest in sharing the spoils. And I'm sure Burry would be a supporter if he hadn't sold before the craziness :-) I mean, his Twitter profile is as WSB compatible as it gets. It's a rebel movement, AFAICT, and to my mind, Burry is a rebel. Contrarian anyway, and the two epithets are pretty close to each other. I think he agrees with them even if he doesn't see it himself. It's kinda like when Peter Schiff went down to the Occupy protests with a sign saying "I am the 1 % – Let's talk" and the guys there, after seeing that they agreed on a lot of things, said, "you sound like a supporter!"