Disagree with you too here. The us stock market is sold to the retail american as a safe capitalistic way to increase the productivity of the country. If it ends up being just a crooked casino youre losing a big market participant : retail investors.
Has nothing to do with innocence at all. Why would a prosecutor raid the office or home of any random hedge fund manager? Makes zero sense to me. Obviously they had suspicions and those suspicions must have relied on some evidence else a raid would have never been authorized. This constant suspicion in anything government related is the real terror of our minds nowadays.
Applauded because we would then agree with your hysterical fear of anything government related? Some people are just living in a parallel universe
I disagree on 2 points: 1)Safe. How much research and time do we professionals put into our craft here? You would state the average retail investor should be in the mkt? The avg person is much better off doing a side business. 2)The sell. 2 points here, implicit and explicit. The implicit is we want your liquidity(retail). The explicit is patriotism/nationalism/doing the good deed whatever you want to call it and that is tied to the implicit above. I agree we need mkt participants, my years of living on this planet finds that retail holds the bag though.
What is the point you try to make here re this thread? Retail generally holds the bag so what to worry?
@Zzzz1: The overarching point I'm getting at in this thread is while there are people in the industry who try to do things by the book and capital mkts do serve a purpose, by far the vast majority of participants are in it for self centered and non altruistic reasons. To paraphrase another quote I heard elsewhere, those who preach morality to savages should expect to have rocks thrown back at them. You and wintergasp may be outstanding members in industry but expect to be painted with the same broad strokes that color the industry and for you to defend your moral high ground.
I don't mind people in this industry having a self serving and self centered attitude and that they are not in it for altruistic reasons. What I mind about is illegality, unethical behavior, snake oil salesmenship, and dishonesty. One can work for self serving reasons and still respect and obey the law. Happy New Year to you and everyone else.
You are working under the mistaken idea that ethical behavior and looking out for one's own interests first are mutually exclusive. They are not, and in fact it is in the best interest of everyone in the industry that it's participants behave ethically. It's tempting to take the nihilist view, but those of us who care, which is most of the industry, do our best to ensure it is overall an ethical industry with the occasional bad apple that we do our best to uncover and make life difficult for.