![]() ![]() It’s pure dislike for hedge fund guys,” Shapiro added. The motivating factor here isn’t really hedge fund corruption - if you’re worried about bailouts, as I am, you should be telling the government to stop bailing out financial firms. “In other words, there is a reason #EatTheRich is trending. Which does make this funny, but also reinforces untruths about the market generally,” he wrote. “What the GameStop guys are doing isn’t illegal, because they’re not lying: they admit GameStop isn’t worth much, they’re just in it for the LOLs and the screwing of the hedge fund guys. Shapiro noted that what the GameStop traders are doing is not illegal, but it betrays free market principles that always seem to favor the ultra rich and powerful. ![]() If we all believe that, nobody should invest in the stock market,” he wrote. “The GameStop guys believe the market is a casino…and that purely gaming the system is how they make their money. He defended hedge funds for providing the “proper pricing of assets through aggregation of information, conveyed through transactions.” Shapiro believes that it is harmful to demonize these institutions. ![]()
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