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China's Marxist-Leninist Stock Exchange (lemmy.sdf.org)
submitted 8 months ago by to c/mop
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[–] 48 points 8 months ago (14 children)

This is outright lying with statistics. The majority of traders on U.S. stock exchanges (95%+) are individual traders. They just use a clearing house that does the trading for them because it's cheaper and faster.

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  • [–] 36 points 8 months ago (2 children)

    Yeah, but I don't think, that was the point of the meme. It was just about making fun of tankies.

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  • [–] 14 points 8 months ago (2 children)

    A mutual fund buys and sells on behalf of the consumer so individuals don't have voting rights.

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  • [–] 4 points 8 months ago (1 child)

    Also wrong. You can vote if you buy stocks themselves and not mutual funds.

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  • [–] 10 points 8 months ago

    Also wrong.

    Only 21% of Americans directly own stock.

    https://www.fool.com/research/how-many-americans-own-stock/?msockid=3cc1caf3010a68e612d9dc83002769e8

    You can't say a statement is wrong by agreeing with it. You just said that they use clearing houses. The majority of stock ownership in the US is through mutual funds and other similar products where individuals cannot vote.

    You can vote if you buy stocks themselves and not mutual funds.

    I said people who buy mutual funds can't vote you muppet.

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  • [–] 11 points 8 months ago (3 children)

    By volume, right?

    95% of volume is done by individual traders?

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  • [–] 3 points 8 months ago (1 child)

    Surely

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  • [–] 2 points 8 months ago

    This is why I don't fuck with that. That and the memestock nonsense. I could tell you a high volume stock strike on Fridays by calculating how much corruption it took for market makers to not lose their ass. It's all rigged and disgusting. They'll drop a nuke on someone if their son in law can make a million.

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  • [–] 8 points 7 months ago (3 children)

    The majority of traders on U.S. stock exchanges (95%+) are individual traders.

    Absolutely need a source for that one. Sounds wrong on both volume of $ and volume of trades.

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  • [–] 1 point 7 months ago (2 children)

    That's because "[number of] traders" and "volume" are two different numbers. Volume wise it's probably the opposite.

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  • [–] 4 points 7 months ago (1 child)

    Yes but using number of traders is useless to look at which is why I used total volume or amount of trades both of which sounds wrong from Ops claim.

    Number traders does sound accurate but it's a worthless metric that doesn't tell us anything because they aren't the ones doing the trading.

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