econ

Financial Markets <3 Gambling (Bloomberg Money Stuff, Matt Levine)

denlillaapan

Matt Levine always walks this line between the aw shucks nice guy who explains the complicated financial things to the masses and dripping disdain for the poor's who are too ignorant to participate in finance with the professionals.

> A decade ago, it was possible to think that investing would gradually become duller and more efficient and more automated, that people would just let robots and professionals manage their retirement savings and would not look for excitement in their investment portfolios

This sounds like the world in which Matt wants to live. That's not how markets work. If we want "efficient markets", we need every scammer and his brother's meme coin. If Matt finds it ugly or undignified, perhaps he should pursue a career in academia. 