To me, participating in these markets is akin to telling people you have a hot tip on a game of musical chairs where you know when the music is going to stop.
I've played those games successfully, a la GME and BTC. But I don't feel good about the proposition. I feel more and more that Charlie Munger is mostly right on this one.
My money is resoundingly on yes. I'm deeply cynical about NFT's the same way I'm cynical about Beanie Babies and Pokémon & MtG cards. It's not for me, but I get it, and they'll likely do quite well in terms of investment returns.
there's actually an interesting argument that i first heard Diane Fleischman pose -- that chicken is worse than beef on a calorie/animal measure and so would harm more animals because it takes more chickens to feed x people than it does cows, and so more animals suffer for the same amount of food produced.
it's like a combination between ad-hoc live podcasting and radio call-in shows. your question "what is clubhouse exactly?" is about as straightforward to answer as "what is the internet?". it's a new medium, with all the good and bad that brings.
And who sets the formula, who lobbies for laws to be passed to require it, who runs and owns the clearing houses? Hint: It's in the thread you linked.
> RH offered to open up stock market investing more broadly. They succeeded, clearly. But the regulations didn't change - there are still pro-Wall St, pro-incumbent rules and capital requirements. It's one of the most highly regulated industries in our nation. [0]
> So @aoc is right to ask how it can be that Robinhood stopped its clients from buying certain securities. And what she'll find is that the reason is that Dodd-Frank requires brokers like RH to post collateral to cover their clients' trading risk pre-settlement. [1]
> And it isn't the Fed or SEC who sets the rules. It's the Wall St owned central clearing entity itself, DTCC, that makes its own rules. So when the retail masses decided to squeeze the short-sellers, in the middle of crushing them, it was govt regulations which tripped them up. [2]
This last tweet in the thread was made about 13h ago, about a day after the previous last tweet in the thread. It's quite interesting, if you ask me.
> Update: the plot thickens ... @The_DTCC may have exercised its right to add additional margin charges for a set of these stocks. It's a Margin Liquidity Adjustment Charge. [3]