Putting the Thumb on the Investment Scale

In this article, it discusses the effect of day traders on the stock market, including the recent GameStop fun:

One interesting note:

In the old days, retail investors were as a rule always the ones being outsmarted by hedge funds. Now the tables are turned.

It probably won’t surprise you that NASDAQ is going to make sure the little guy can’t do that again:

Remember folks, only the elite are allowed to game the system.

UPDATE: Tucker Carlson chimes in (sorry if a painful ad plays first):

And, as Tucker notes, Discord shut an associated trader community down:

Discord says it did not ban the server for financial fraud — rather, it was banned because it continued to allow “hateful and discriminatory content after repeated warnings.”

But, someone associated with the banned server pointed out:

We’re suffering from success and our Discord was the first casualty. You know as well as I do that if you gather 250k people in one spot someone is going to say something that makes you look bad. That room was golden and the people that run it are awesome. We blocked all bad words with a bot, which should be enough, but apparently if someone can say a bad word with weird unicode icelandic characters and someone can screenshot it you don’t get to hang out with your friends anymore. Discord did us dirty and I am not impressed with them destroying our community instead of stepping in with the wrench we may have needed to fix things, especially after we got over 1,000 server boosts. That is pretty unethical.

Update January 28, 2021:

More articles (first one comes with a curse word warning)…

Here is Robinhood’s CEO’s explanation:

To be honest, it didn’t seem an explanation beyond claiming they needed to do it and nobody made them.

“Portnoy calls for people to be jailed over hedge fund scandal in scathing interview”

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