I need to get this off my chest. Over the course of January 2021, the financial markets saw the incredible Wallstreetbets vs Hedge Funds battle play out. The battle arena included stocks (or is it “stonks”?) such as Gamestop and AMC. I won’t rehash the whole episode.
What I want to get off my chest is something I’m saddened by: The danger that many retail investors could lose their faith in the financial markets because of what’s happening in Wallstreetbets vs Hedge Funds. I’ve already seen people commenting (read here and here) that the market is “rigged” and that they are losing their faith in the system. Well the thing is, the market has been rigged for a long, long time but – and this is important – it does NOT matter. Two examples come to mind.
A long, long time ago…
The first involves Joseph Kennedy, the patriarch of the famous Kennedy family in the political scene of the USA.