Bob's long-winded PTM thread, page-76

I've been reading books to learn more things as is my won't.

Apparently an early reference for terms bull and bear were in a popular book from 1761 called "every man his own broker" which eviscerated the early funds management industry for bulling stocks (pump and dump) or bearing them (making panic rumours).

https://en.m.wikipedia.org/wiki/Stockjobber

I have complete proof what I said to you about the finance industry, the same today as it was then if not worse because it hides its true nature from the public.

How does Citadel make its money?

I'd agree with a theoretical free market the problem is that it has never existed and any system that denies people food and shelter or the right to imagine their own societies is unfree markets. Markets could serve us but we seem to have it backwards.

I'm not driven by money or forcing people to do what I say, what kind of sicko aspires to that - only the Epsteins, the Thiels, the Leon Blacks the Erik Prince's of this world IMO. Everything they say is suspect.

Getting a good spanking on PTM now, oh well helps remind me that I am not so smart as I think.

Like Adam Smith I have a belief proven by both reason and experience that over the long run the market figures out the correct price of securities. On aggregate people are v smart but on the way millions of people may die of starvation because the "free market" doesn't guarantee them food at a price they can afford and commodity markets are brutal.

I've not found more bargains I can't stop watching the PTM train wreck.