View single post by srossi
 Posted: Sat Jan 30th, 2021 03:28 pm
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srossi

 

Joined: Sun Oct 14th, 2007
Location: New York USA
Posts: 56759
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Mana: 
carpetbeggar wrote: Some Joe Blow Redditors made a shit ton of money today.

I see a thread over there where a 19 year old invested 6K in it and now is at 192K. This person said they are not going to sell and plan on "holding strong". lol

So isn't this going to fuck various unionized workers whose union invested their retirement funds in some of these hedge funds getting pounded now?

On the first point, I really don’t see that going well.  Wall Street is going to figure out how to beat these kids, through ingenuity or plan old crony capitalism, and they’re going to go to zero. Accept the win and get the fuck out with your money before they destroy you. Proving a larger point at the expense of your future is silly. 

Point 2, yes, pensions, IRAs, 401(k)s, etc have been greatly affected. These are mostly very long-term propositions though so by the time most people need them I’m sure they’ll be back to normal. If you were cashing them out tomorrow though, well that’s really bad timing. Depends on what types of funds you asked them to invest in for you though. 

Last edited on Sat Jan 30th, 2021 03:28 pm by srossi



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This thread was great before AA ruined it.