Exactly, couldnât have said it better. I think there could be an exception for say insurance. That is needed. But yea, the financial industry sort of reminds me of America. Used to be great, but seems they are just feeding off of others. Hardly anything is made in America anymore, and we get away with it by exporting more dollars. Well just like the financial industry collapsed, so will America if we donât start changing things. One day we might wake up and China and India and Mexico and Saudi Arabia might just give us the finger and say theyâre keeping everything they make for themselves.
From CEO to pizza delivery driver
- Thread starter Roman Candle
- Start date
Quote from volente_00:
She's already got two kids entering the double digits in age. She's got about a 5 year window to reel in another grander. So, she's got to dump that chump shortly, fill the live bait well, and get out there trolling.
Pizza delivery guy? With a name like "Karpman" why isn't he working on a fishing boat?
Notice that his soon-to-be ex isn't taking a job. She's just pissed that her golf and tennis lifestyle has come to an end.
See for yourself:
http://www.elitetrader.com/vb/showthread.php?s=&postid=2763426#post2763426
http://www.elitetrader.com/vb/showthread.php?s=&postid=2763426#post2763426
Quote from Lethn:
Are you sure he wasn't being sarcastic? This is 'elite' trader you know
What if somebody has found their niche in life by trading? The best way they can give back to society is to not only donate their extra time to worthy projects but also to contribute money to organizations that don't just provide band-aids. There are definitely some out there. I would say they are doing the world a disservice if they are talented at trading and they decide not to do it because "it doesn't contribute to society." There are many ways to contribute and one way is to funnel money from other people (via trading) into organizations that actually make a difference.
You are trying to say I compared two things which I did not. No surprise that you would twist things, considering you have a twisted mind. Have you ever said a nice thing to anyone in your life? Maybe your mom, hopefully?
The past several posts on this thread have all been under the assumption that hedge fund managers and traders mission in life is to win money so that they can give it away to charity. Where does this come from? Just because some have done it doesnât mean that all will, or even most. And even if they were, the money earned has to be taken from someone and then be given to another in the form of charity. So in effect, they are just redistributing money and taking a nice cut for themselves. I mean that ok, itâs a free country. But I really donât care when one of those people loses it all.
By the way, what charities did Goldman Sachs create from all of he money they made spiking oil to $145?
Yea but they are just giving back what they took anyways in a zero sum game. Letâs suppose that people sat there and hand stiched clothes all day with needles. One day, somebody invents a machine that can stich several times a second. This rapidly speeds up the process of making clothes. Instead of a person making 1 shirt an hour, they can now make 3. The production level now triples and the amount of wealth is now exponentially greater. So that inventor deserves to get rich because he created new wealth and is just taking his cut. He didnât take from others, he bettered something. This is the story of the 20th century.
On the other hand if somebody gets righ through simple redistribution, why would you encourage him to get rich under the assumption that he would do all of this charitable work? Again, where does this notion come from that people get rich so that they can do charitable work? This is the story of the past 10 years
For example, I donât need medical charity because I have health insurance. I can buy health insurance because I have a job. I have a job because obviously someone is will to pay for what I do. But now if that person suddenly doesnât have enough money to buy my services cause some rich trader shot oil to $145, then I am out of a job and thus canât pay my health insurance, and then will need medical charity paid for by the guy who made millions when oil went to $145.
Which would you rather have, people using their own ability to provide for themselves or having a bunch of rich people take and keep all of the wealth and then distribute it as they see fit?
I really don't get your point. Who is better, a person who owns a company and has 100 employees or a trader who donates to a non-profit organization so that they can have 100 employees? They are the same in my eyes. They are creating an opportunity that was not there before and doing an equal amount of "good."
As for zero sum games, the stock market isn't a zero sum game.
What's the difference between a person siphoning off money from people in return for clothes and a person siphoning off money from people in return for a financial instrument? Both buyers are getting something for their money and neither seller cares where that money comes from.