Thread by @ninaandtito

Hedge funders believe they themselves are the smart money and retail investors are dumb money. How do I know? I used to be a trader at a hedge fund.
This is very much a form of class warfare.
The truth is, hedge funders are mostly reckless money, bec they are playing with someone

else’s $$, and they usually make money from management fees even when they lose their clients’ money. (Performance fees mean they make more when they make money for their clients so there is an incentive to not lose everything, but it’s much easier to take risks with OPM)

They think of themselves as masters of the universe, but really they are just lucky assholes.

So retail investors can be dumb money, and are usually the ones left holding the bag when bubbles burst, but sometimes, the script is flippable.
I’m rooting for the retail investors(underdogs), from the sidelines. I don’t have a dog in this fight, other than the schadenfreude of

knowing privileged dickwads who have never faced adversity are getting their asses walloped by people they think are below them.

If you would like a book recommendation, I recommend a classic: goodreads.com/book/show/1007…