A Fool and His Money: Wall Street’s Latest Casino Tricks
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Fooling his money. Yeah, these next two stories. Not surprising. Not surprising. I actually get questions about these things and people asking me, well, how’s this going to help individual investors? This is going to be great. Yeah, sure. Anyway, yeah, the NASDAQ is moving closer to around the clock stock trading. A shift that some on Wall Street are calling unnecessary and potentially destabilizing. Why?
Why is this necessary? gonna start? Yeah, we’re gonna be like Vegas. They’re gonna start giving out free drinks too. The reason for this is, again, so the NASDAQ can make more money. The various different trading firms out there can make more money on the backs of fools. If you think that this is gonna give you some sort of
advantage. You’re sorely mistaken. I’ve talked about this ad nauseum over the years. If the folks that use these various different discount houses, day traders out there, day traders with their 20 screens in front of them and charts and all this stuff and all these tools that they market to you, if they were actually successful in what they were doing,
Don’t you think that these firms would let you know about it? Don’t you think that would be a part of their marketing? Our traders are doing this, this, They’re not. They’re not. Day traders were losers when the whole thing kicked into gear back during the 1990s during the dot com run up. And they’re losers again today. This is just giving them
more time and an opportunity to lose again, a fool and his money. And again, Robinhood, they’re not even hiding it anymore. Robinhood is now giving its users the ability to place, I’m not making this up, parlay bets on multiple NFL games. So basically they’re gonna start competing with traditional sports books.
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You know what he says, basically what they are. It is a glorified gambling. I describe this Robin Hood. It gives people the sense that they’re doing something, they’re not gambling, but they are. They are, they are, you know, they’re gambling, they’re just gambling on stocks. Now they’re saying, screw it, we’re already all the way. What difference does it make? We’ll also throw football in as well. Again.
a fool and his money. WatchnoganWallStreet.com.
