RE: Re Sp20 Oct 2021 15:11
Amanesia
“ Large institutions hold rubbish shares every day. Of course they do. So do all major investors. It's unavoidable. When Lehman, BCCI, Worldcom, Enron etc etc etc went bust, a huge proportion of their stock was held by large financial insitutions. That's just the way it is. Those stocks were, objectively, at that point in time, rubbish. That's not arrogance from me, that's just a statement of fact. It doen't mean that those institutions were bad at their job, but equally it clearly shows that idiotic arguments like "Blackrock own shares in this so it must be brilliant" are nothing more than utter nonsense.”
My mistake. I thought your post was arrogance, but it turns out to be arrogance x stupidity. You think they invested in Enron because they knew they were fraudulent or going bust? Doh! Of course they didn’t. I repeat institutions do not invest in rubbish. Obviously, things can go wrong and there can be frauds.
“Melanion are introducing a Bitcoin-exposure ETC because there is a demand for the product. Of course. If a large client base wants an ETF that tracks Bitcoin, or pork bellies, or the price of Ronaldo's next transfer fee, institutions will design such a product. That doesn't mean that they believe that cryptocurrency, pigs' intestines or Cristiano are the best thing since sliced bread. There's a demand, so they supply. Simples. Obviously they'd like that fund to do well, to attract in more investors and boost their cut, but that's not the reason they set up the fund. That'd be the tail wagging the dog. There's a demand, so they've set one up.”
So, you say that without demand, these products would not have been created? Efffing Einstein, I think you’re correct.
“Fundamentally there are all kinds of reasons to be VERY bullish on ARB. Mining efficiency; expansion plans; transparent management etc etc. And not least a current relative undervaluation compared to peers. But let's stick to these excellent reasons. When someone posts "XYZ are investing so it MUST be great", that's complete and utter schite.”
There is a btc mining etf. ARB is the biggest constituent. You think that is utter schite? Idiot.
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