what is your true opinion of wallstreet guys?

[Anonymous No.27511535]

I’ll go first:
>Spent their entire career researching and learning
>Work >70 hrs/wk on this
>High IQ and driven as you probably can’t make it in that field otherwise
>arguably a plague on society
>extraordinarily competent at what they do

you wouldn’t buy a saw and think you could outperform a master woodworker, why do you think you can download an app and make it big overnight?

[Anonymous No.27511657]

I mean, you can, it just takes a lot of luck. They aren't there to depend on luck, they want guaranteed riches and are in pole position to get them. Financial education is one thing, their big advantage is connections and insider information.

[Anonymous No.27511702]

>>27511535
parasitic scum, mostly jewish, that will be sent to the gulags soon

[Anonymous No.27511851]

The average trader who works on Wall Street is just that...a trader. They’re not all bad people.
The problem are parasitic entities like hedge funds and the higher ups at the big banks.

[Anonymous No.27512040]

I've been in finance and
>Spent their entire career researching and learning
Maybe. But they learned old market. We are in the clown market now, so not more experience than me. In fact, old market methods don't work as good, and they are stuck with them mentally.
>High IQ
Lol nope
>extraordinarily competent at what they do
Absolutely nope

See, in every industry, around 90% of the employees are pretty shit at their job.
This is like saying "Goddamn, all programmers are fucking GODS at their work, you have literally zero chance of creating a webpage, because if that would be so easy, they would have done it".
They are also not really good in researching, because they cannot properly price in catalyst. All my meme picks mooned after the catalyst.

[Anonymous No.27512067]

>>27511535
Fuck them and their handlers, they manipulated the market and anyone else who would do that in that fashion like they are doing it for a week now, would go to prison for many years. They do not respect the game.

[Anonymous No.27512139]

I think Wall Street and the markets in general is a talent sink. It would be better if we had a less gamey system so the talent could be used for real productivity instead of just scamming each other.

[Anonymous No.27512158]

>>27511535
>you wouldn’t buy a saw and think you could outperform a master woodworker, why do you think you can download an app and make it big overnight?
I can't figure out why this isn't obvious, either.
And when they don't outperform it's because the master woodworker cheated.
I mean, he must have, right?

[Anonymous No.27513049]

>>27512139
I'm a theoretical physicist by training (yeah, totally a larp, whatever) and the hedge funds are easily the biggest hirer of physics PhDs. It's not even close, although ML firms are starting to get there. The doctoral system for any math-based discipline is pretty much a conveyer belt that converts idealist Einstein worshippers into quants.
Me personally, I stuck close enough to hardcore computational work that I was able to get a job in that sector.
So as for OP's original question, most of Wall Street are just people who have had their idealism beat out of them by reality and trying to make a decent amount of money before they go work somewhere else, and the real fuckers are the ones at the top.

[Anonymous No.27513405]

>>27511535

Wall street and many other financial markets around the world are becoming IQ Shredders. The best and brightest minds of today are going into stock markets instead of going to their respective fields. How many STEM graduates end up being lured into the prospects of making money beyond their wildest dreams after spending a decade in University? Their only options are to work for Banks, Insurance Companies, Hedgies at best, and at worst a mutual funds saleman. Not to mention the amount of student loans they're chained to the moment they leave school. Most of these bright minds end up being chewed and burnt out by the end of it. Its an open secret to how much of a drain the financial markets are. The other issue now is how Main street has become hollowed out because of Wall-street. Everyone is sitting at home and trying their luck to make a few hundred bucks off of the stock market. It doesn't contribute to anything in society aside from exchanging digital money back and forth.

[Anonymous No.27513978]

>>27513405
I'd agree with some of this, but I don't blame "Wall Street" (whatever that means to you, the definition changes from person to person) for people sitting around losing their money, any more than I'd blame casinos. Pandemic's gonna pandemic.

People like to gamble, and if you give them the ability to do it legally, they will. The fact is that capital markets weren't designed for that or dependent on it, and don't even function efficiently when that aspect dominates.

[Anonymous No.27514213]

>>27511702
why do we have so many resentful commies in /biz/? Why are they so incompenent and desperate for money?
go back to work wagie

[Anonymous No.27515480]

>>27511535
shovel-ready welfare scheme for dumb rich kids that were too stupid for a career in law or medicine. typically possessing delusions of grandeur and an unwarranted sense of self-importance that comes purely from spending their entire careers in a safe-space environment expressly designed so that they may never fail.

[Anonymous No.27515774]

>>27513405
>>27513978
People leave STEM because there's a gross overproduction of PhDs being awarded, because the Boomer PIs want to have huge labs and don't care about making 95 PhDs for every one academic position available, leading to an absolutely brutal job market for academics.
It's really easy to hate on Wall Street and Big Tech for "brain drain", but realistically, if these industries didn't exist, a lot of the "best and brightest" would be driving cabs, not advancing civilisation.

[Anonymous No.27515831]

>>27511535
What a retarded woodwork analogy.
If master carpenters tried to charge you as much as possible for the bare minimum and rob you were possible then I'd make my own furniture. It's cheaper and guess what? The better you get, the more self sufficient you are.
Also, would the likes of buffet and lynch say to use them? Or would they say keep it simple and figure it out yourself?

[Anonymous No.27516531]

>>27512040
this. These guys are mostly a bunch of testosterone fuelled retards, told what to do by slightly more experienced testosterone fuelled retards. Warren Buffey has already proved that just buying the s&p beats the shit out of their paltry gains in most cases, and a bunch of incels on 4chan have been outperforming them by buying internet coins for a good while now.

[Anonymous No.27516745]

>>27511535

They don't produce anything of value, and they play a game no one else wants to. They're really the worst sorts of people, but highly motivated.

[Anonymous No.27517047]

>>27511535
Not when they illegally overshort a stock and then rig the game. That's not skill or expertise on their part.

[Anonymous No.27517107]

>>27516745
>they play a game no one else wants to
Lol
Yeah, this site is proof of that. Would you listen to yourself?

[Anonymous No.27517194]

>>27511535
They WILL be replaced.

[Anonymous No.27517310]

>>27512139
> instead of just scamming each other.
Not really. It's a distributed system of trying to predict the future (sum earnings of companies).
It is in fact one of the greatest, largest single purpose supercomputer utilizing a ton of actual computers, carbon based neural networks, and evolutionary algorithms.

And properly pricing in companies years in advance is absolutely essential in deciding what the rest of the humans should be doing with their time to benefit humanity the most.

[Anonymous No.27517334]

>>27512158
What happened is the equivalent of hardware stores barring people from buying more saws.

[Anonymous No.27517439]

>>27517334
>barring people from buying more saws
Because......if you had more saws, THEN you could compete with the master woodworker?

[Anonymous No.27517775]

>>27517047
>rig the game
I keep seeing this. Anyone with some experience knew what an actual short squeeze would cause to clearinghouses and such.
The shortsqueezers took on just as big of a gamble as the overshortes did. They both lost a shitton of money. The system works.

[Anonymous No.27518171]

>>27516745
https://youtu.be/2f2kGHcdJYU

[Anonymous No.27519399]

>>27517107

I do. I'm a boring investor. They're at some logical conclusion of working 80 hrs a week to watch pieces of a pie chart move around.

>>27518171

MBAs have squeezed "normal people" too much lately though. There's no reason a single mother nurse shouldn't be able to support her kids comfortably, but they bracket every job and squeeze and squeeze.

[Anonymous No.27520477]

>>27511535
Irrelevant. Most will be replaced with an algorithm in a few decades.