OK, so apparently we have a contender for "lambos"... the TradFi youngsters yolo-ing their money on exotic options say...
no risk, no rari
...for "Ferrari." So risk is good, volatility excellent.
Another model of capital markets is that people like gambling, so introducing some extra volatility makes markets more fun and exciting and gives people what they want. How much should you save for retirement? Should you borrow money to build a new factory? Boring! Boring! Don’t ask those questions! Ask more fun questions like “should I YOLO all my money on GameStop call options?” On this model, economic policymakers should lurch drastically from one policy to another, because that will make things more exciting for their audience. It will also get the policymakers more attention, and attention is the most valuable thing in the world.
Fr the WSJ:
People do seem to enjoy literal sports gambling. “Sports are sports, and entertainment is sports, and politics is sports, and crypto is sports, and stocks are sports,” I wrote, not that long ago.
LESGO PREDYX BETTING, BOOM BOOM @mega_dreamer!
Like a total degenerate, I thus updated my bet against (mostly) @ek. His lil stunt ain't impressing me. (#948515)
non-paywalled here:
https://newsletterhunt.com/emails/185951