Jan 272021
 

It seems Reddit has gone and mucked up a bunch of short-trading crapitalists:

Exchanges Ban Trades, Biden Administration ‘Monitoring Situation’ After Reddit Drives Wall Street Hedgefunds to Brink of Bankruptcy in Gamestop Short

I’m about as pro-capitalism as a reasonable man can get, but short-trading always seemed like the sort of thing that could be reasonably banned. You are betting on a business to fail, thus it is in your interests to do things that might make that happen. So if someone else uses the system that’s already in place to mess with short traders and causes their businesses to fail… well, I’m not going to shed many tears.

After all, it’s generally considered at least poor form to bet against yourself in a sporting contest, as that gives you incentive to throw the match.

 Posted by at 8:03 pm