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#alexanderhamilton — Public Fediverse posts

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  1. “Wall Street sells stocks and bonds, but what it really peddles is hope”*…

    source

    Over the last several decades retail investors had been eclipsed in the stock market by institutions (e.g., pension funds). But COVID and the economic environment that surrounded started a trend that is reversing that polarity. Retail investors now account for roughly 30% of daily US equity volume, according to Goldman Sachs. Their stock trading in May of this year ran 10% above the previous record, set during the January 2021 meme-stock frenzy, and June set another all time high.

    Much of that growth has come from the individuals known as day traders.” And while for the last 18 months or so, institutional investors have been cautious, often underweight, under-levered and short of conviction, these active amateurs in the retail crowd did the opposite, buying the dips, riding momentum strategies, and adding leverage. Retail investors tend to follow the herd, as can be seen in the surge in popularity – and valuations – of meme stocks and artificial intelligence stocks in recent years.

    While historical performance is no guarantee of future results, history is not encouraging. The most “generous” reputable study your correspondent could find suggested that roughly 20% of day traders were at least marginally profitable; the balance lost money. Other studies suggest that 95-97% of all day traders lose money.

    But as Simone Foxman reports, money is not all that they lose…

    Surging retail trading isn’t just transforming markets; it’s also highly correlated with demoralization in young men, according to a new study.

    One-quarter of men aged 18-29 said they trade stocks daily, and almost two-thirds of them (64%) report feeling like failures, according to a study of 2,000 men published Wednesday by the Institute for Family Studies, a pro-marriage think tank. The findings were strikingly similar to outcomes among men who gamble: Of the 23% of young men who said they gambled daily, including on sports and events, 66% reported similar angst, according to survey, which asked the young men a variety of questions about their personal behaviors and outlooks. Daily fantasy sports and pornography use were similarly correlated to feelings of failure, the survey found.

    The struggles of young men are generating growing alarm among academics, pundits and billionaires. They warn that men are lagging in education and employment, gambling with their financial health on sports or event betting platforms and facing mental health crises.

    At the same time, the line between gambling and investing has been blurred. Stock volumes from retail investors have doubled over the past 15 years, and day traders have driven record options volume. Now platforms like Robinhood Markets Inc. and Interactive Brokers Group are trying to capitalize on interest from Gen Z by also offering event-betting alongside stock-trading.

    Some research suggests young people have embraced risky financial behaviors to try to generate returns in a world where homeownership and other markers of financial success are out of reach. Eighty percent of Gen Z investors said they’d invested or considered investing in stocks, options, crypto or prediction markets because they feel financially behind and see these investments as better tools to meet their financial goals, according to a Northwestern Mutual study.

    The IFS researchers hypothesized that day trading, gambling, playing fantasy sports and porn use — among other activities — may be both coping mechanisms for dejection, stress and loneliness and also exacerbate them. Young men who engaged in these activities less than daily were about half as likely to report feelings of demoralization.

    Overall, 42% of survey respondents said the statement “all in all, I am inclined to think that I am a failure,” described them very or somewhat well. This feeling was particularly strong among men without college degrees and those who were neither employed nor in school.

    A quarter of participants said they felt lonely all of the time, while 30% expressed feeling that way some of the time.

    The study also found disillusionment with the American dream, even as young men fostered high hopes for the future. Seven in ten respondents said that success is more a matter of who you know than ability or hard work, but 84% still said they had ambitious plans for their futures.

    Further to the passing reference to “event-betting” above, we should note that prediction markets, while smaller than retail investing (at least for now), are growing explosively. Like day-trading, prediction markets are pitched in the language of empowerment and democratization. The former involves stocks and bonds, while the latter sells “event contracts“; but they share the same user base, the same psychological architecture, and the same uncomfortable gap between how they are marketed and what they actually deliver… so seem likely to contribute to the issues unpacked above.

    Risky business: “Some 64% of Young Men Day Trading Stocks Feel Like Failures” (or here) from @simonefoxman.bsky.social in @bloomberg.com.

    Jason Zweig

    ###

    As we parse symptoms and diseases, we might recall that it was on this date in 1966 that the U.S. Treasury Department, citing a lack of demand, ceased production of the $2 bill, which had been around in various forms since 1862. The (redesigned) denomination, featuring a portrait of Thomas Jefferson, was reintroduced in 1976… though readers will be forgiven if they mistakenly thought that “the deuce” was still retired: so few are in circulation that they are rarely encountered.

    The first $2 bill, a Legal Tender Note (United States Note) with a portrait of Alexander Hamilton in profile view- in contrast to the familiar portrait in use on the $10 bill since 1928 (source) #addiction #AlexanderHamilton #culture #currency #dayTrading #Depression #finance #history #investment #loneliness #predictionMarkets #Psychology #retailInvesting #stocks #ThomasJefferson #twoDollarBill #USTreasury
  2. It says: I must not publish the whole of this.
    I have thought about that sentence for weeks now. It is the most honest thing anyone in this story ever committed to paper.
    medium.com/prismnpen/this-lett

    #LGBTQ #QueerHIstory #AlexanderHamilton #USHistory

  3. When a man unprincipled in private life desperate in his fortune, bold in his temper, possessed of considerable talents, having the advantage of military habits -- despotic in his ordinary demeanor -- known to have scoffed in private at the principles of liberty -- when such a man is seen to mount the hobby horse of popularity -- to join in the cry of danger to liberty -- to take every opportunity of embarrassing the General Government and bringing it under suspicion -- to flatter and fall in with all the non sense of the zealots of the day -- It may justly be suspected that his object is to throw things into confusion that he may "ride the storm and direct the whirlwind."
    -- Alexander Hamilton (Correspondence August 1792)

    #Wisdom #Quotes #AlexanderHamilton #Government #Opportunism #Politics #Tyranny

    #Photography #Panorama #MotorMill #Iowa

  4. Men give me credit for some genius. All the genius I have lies in this; when I have a subject in hand, I study it profoundly. Day and night it is before me. My mind becomes pervaded with it. Then the effort that I have made is what people are pleased to call the fruit of genius. It is the fruit of labor and thought.
    -- Alexander Hamilton

    #Wisdom #Quotes #AlexanderHamilton #Effort #Genius

    #Photography #Panorama #Morning #Mists #Fogbow #LakeSantaFe #Florida

  5. The Sinking Fund Commission has come up several times. Historians & legal scholars regard it as the nation’s first #independent agency. Created in 1790 by the first #Congress, the 5-member commission approved payments to settle America’s Revolutionary War debts.

    The commission’s structure was proposed by #AlexanderHamilton, who saw it as a way to insulate members from #political pressures.

    #law #HumphreysExecutor #SCOTUS #ActivistCourt #Trump #Autocracy #power #SeparationOfPowers 🧵

  6. "It has been frequently remarked that it seems to have been reserved to the people of this country, by their conduct and example, to decide the important question, whether societies of men are really capable or not of establishing good government from reflection and choice, or whether they are forever destined to depend for their political constitutions on accident and force."

    #AlexanderHamilton from the first paragraph of #TheFederalistPapers

    can the #Enlightenment ideas be more than theory?

  7. A quotation from Alexander Hamilton

    The sacred rights of mankind are not to be rummaged for among old parchments or musty records. They are written, as with a sunbeam, in the whole volume of human nature, by the hand of the Divinity itself, and can never be erased or obscured by mortal power.

    Alexander Hamilton (1757-1804) American statesman, author
    Essay (1775-02-23), “The Farmer Refuted”

    More info about this quote: wist.info/hamilton-alexander/8…

    #quote #quotes #quotation #qotd #hamilton #alexanderhamilton #civilrights #divinewill #godgivenrights #humannature #humanrights #naturalrights #rights

  8. Hamilton's 10th anniversary celebration! Time to explore the real NYC locations behind the musical. Visit Hamilton Grange in St. Nicholas Park, Fraunces Tavern where Hamilton and Burr met, Federal Hall where debates raged, and Trinity Church where Hamilton rests. The National Park Service reports Hamilton Grange visits have skyrocketed since the show debuted.
    #Hamilton #NYC #Broadway #History #Tourism #AlexanderHamilton #Theater
    untappedcities.com/a-guide-to-

  9. A quotation from Alexander Hamilton

    The truth unquestionably is, that the only path to a subversion of the republican system of the Country is, by flattering the prejudices of the people, and exciting their jealousies and apprehensions, to throw affairs into confusion, and bring on civil commotion. Tired at length of anarchy, or want of government, they may take shelter in the arms of monarchy for repose and security.

    Alexander Hamilton (1757-1804) American statesman, author
    Letter (1792-08-18) to George Washington, Enclosure: “Objections and Answers Respecting the Administration,” Objection 14

    Sourcing, notes: wist.info/hamilton-alexander/7…

    #quote #quotes #quotation #qotd #alexanderhamilton #civildisorder #control #corruption #demagoguery #democracy #despotism #disorder #incitement #lawlessness #republic #security #subversion #tyranny #unrest

  10. [A supermajority congress would serve] to embarrass the administration, to destroy the energy of the government, and to substitute the pleasure, caprice, or artifices of an insignificant, turbulent, or corrupt junta, to the regular deliberations and decisions of a respectable majority.
    -- Alexander Hamilton (The Federalist No. 22)

    #Wisdom #Quotes #AlexanderHamilton #Embarrassment #Filibuster #Government #Law

    #Photography #Panorama #Panopainting #Driftwood #Florida

  11. @mina

    #Economics
    #Neoliberalism
    #JamesBuchanan

    (1/n)

    You are quite right in your assesment, Mina, though you focus on the 1 of 3 #neoliberal
    strands that is the pillar of #Reagonomics and #Trumpism, #Buchanan's #VirginiaSchool:

    "...unlike even the most property-friendly founders #AlexanderHamilton and #JamesMadison, 👉#Buchanan wanted a private governing elite of corporate power that was wholly released from public accountability.👈" 1)

    @number6
    @fosstodon.org

    1)
    mastodon.social/@HistoPol/1125

  12. The truth unquestionably is, that the only path to a subversion of the republican system of the Country is, by flattering the prejudices of the people, and exciting their jealousies and apprehensions, to throw affairs into confusion, and bring on civil commotion. Tired at length of anarchy, or want of government, they may take shelter in the arms of monarchy for repose and security.
    -- Alexander Hamilton (Correspondence August 1792)

    #Wisdom #Quotes #AlexanderHamilton #Authoritarianism #Government #Opportunism #Politics

    #Photography #Panorama #ChacoCanyon #PuebloBonito #Ruins #NewMexico

  13. Men give me credit for some genius. All the genius I have lies in this; when I have a subject in hand, I study it profoundly. Day and night it is before me. My mind becomes pervaded with it. Then the effort that I have made is what people are pleased to call the fruit of genius. It is the fruit of labor and thought.
    -- Alexander Hamilton

    #Wisdom #Quotes #AlexanderHamilton #Effort #Genius

    #Photography #Panorama #ChacoCanyon #Petroglyphs #NewMexico

  14. The truth unquestionably is, that the only path to a subversion of the republican system of the Country is, by flattering the prejudices of the people, and exciting their jealousies and apprehensions, to throw affairs into confusion, and bring on civil commotion. Tired at length of anarchy, or want of government, they may take shelter in the arms of monarchy for repose and security.
    -- Alexander Hamilton (Correspondence August 1792)

    #Wisdom #Quotes #AlexanderHamilton #Authoritarianism #Government #Opportunism #Politics

    #Photography #Panorama #ChacoCanyon #PuebloBonito #Ruins #360panorama #NewMexico