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Cake day: June 9th, 2023

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  • fubo@lemmy.worldtoTechnology@lemmy.world*Permanently Deleted*
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    18 days ago

    Even in a home poker game, it is not possible for all the players to go home having made a profit, whereas that is very possible in the stock market due to growth, labor, and natural resources.

    (The coal miner who gets a wage and black lung is not a player in the stock market. Neither is the sun, which provides free energy to agribusiness.)


  • fubo@lemmy.worldtoTechnology@lemmy.world*Permanently Deleted*
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    18 days ago

    In gambling, the house always wins, by extracting value from the players. In stock trading, the players (capitalists) collectively always win, by extracting value from labor, technological growth, and natural resources. These are not the same picture.

    Sure, you can take on as much risk as you like using derivatives, and emulate a gambler using the stock market as a source of randomness (volatility). But that’s not how most traders behave, and it’s not how most traders’ payoffs work.