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Home / David Stockman /Don’t Cry For The Robinhood Gamblers—They Were Victims Of Their Own Greed And Stupidity

Don’t Cry For The Robinhood Gamblers—They Were Victims Of Their Own Greed And Stupidity

Summary:
I don’t have any sympathy for anybody involved in this—hedge funds, the brokers, or the public. In the markets, eventually, everybody gets what they deserve. Still, the fact that some hedge funds have lost billions is front-page news. And the stock running from like before collapsing from 0 to under at the moment means plenty of late-arriving small fry will have been wiped out on the way down. https://www.lewrockwell.com/2021/02/doug-casey/robinhood-hedge-funds-and-class-warfare/

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I don’t have any sympathy for anybody involved in this—hedge funds, the brokers, or the public. In the markets, eventually, everybody gets what they deserve. Still, the fact that some hedge funds have lost billions is front-page news. And the stock running from like $3 before collapsing from $450 to under $50 at the moment means plenty of late-arriving small fry will have been wiped out on the way down.

https://www.lewrockwell.com/2021/02/doug-casey/robinhood-hedge-funds-and-class-warfare/

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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