Porsche crashes into controversy in the ultimate 'short squeeze'

[BrilloPad]

I haven't got the foggiest.

Neither has atw - but will spout his nonsense anyway......

[ASB]

You were doing well until you used the counting cards analogy. I count cards when playing blackjack for the obvious reason that it improves my probability of success. This in no way influences others sitting round the table in terms of what cards they get.

The point of card counting is to modify your strategy based upon the belief of what the deck still contains. If this does not cause you to make a potentially different draw/stand decision against what the dealer is showing then there is no point counting. If you do make a different decision to what you would have done without counting then the counting has influenced what others are going to get.

Of course this is no different to any other strategy. That influences what others will get in the same way.

The only way to stop peoples decisions influencing others is to mandate everybody plays the same strategy.

[AtW]

You were doing well until you used the counting cards analogy. I count cards when playing blackjack for the obvious reason that it improves my probability of success. This in no way influences others sitting round the table in terms of what cards they get.

It's not the best analogy, I agree. However even though in principle it is not illegal thing (it's not like hiding aces in the sleeves), this strategy affects the game so much that in some places it is actually illegal. This was meant to be illustration of some supposedly valid strategy that allows to win big but due to its effect on the whole game it is banned in some places to a degree of being illegal, I think Monaco outlawed it.

I actually don't have problem with gamblers gambling their own money so long as it is confined to a strictly limited place like casino which at all times should have the money to satisfy wins or losses, and also gamblers should gamble their own money. Anyone who enters casino is volunteer - stock market affects far more people even though who don't even join the game, that's why I have problem with hedge funds rather than gamblers in casino (so long as they gamble their own money which is often not the case for hedge funds - they don't even have the money, just high leverage).

[sasguru]

atW, why are you so energised by the economy, an entity of which you will never play a productive part ever? It's like me discussing the ins and outs of nuclear physics.

[DiscoStu]

You haven't answered my point. Please explain how a 99% CGT on short term trades won't paralyse the market.

You don't seem to have answered me yet AtW.

[sasguru]

You don't seem to have answered me yet AtW.

atWankonomics is like Alice in Wonderland.

[ASB]

this strategy affects the game so much that in some places it is actually illegal.

If you look at card counting with any form of external device then this may or may not be illegal depending upon the jurisdiction. I doubt this is legal in any places.

However card counting without a device is perfectly legal here and in the states. Done correctly it can move a house advantage of about 0.5% to a player advantage of about 3%, but houses will introduce more decks, ban people from joining play part way through a shoe, only play a partial shoe, distract suspected counters, bar them, force them to flat bet or any number of other things to negate the advantage.

I fail to see how card counting without an external device can be illegal anywhere. It is simply mental calculations.

[AtW]

You don't seem to have answered me yet AtW.

I don't think high CGT for short term profits will paralise market.

CGT should be highest for short term gains to encourage long term investment - perhaps CGT should be zero after 2-3 years of share holding, so I do advocate low or zero taxes for long term investors and high taxes for speculators.

[AtW]

I fail to see how card counting without an external device can be illegal anywhere. It is simply mental calculations.

As I said, it is illegal in some places, not others.

My analogy, though not perfect, I think was good in that like shorting that on the surface is legal, card counting can have detrimental effect on the game by making less sophisticated players lose, this would put them off the game and they would leave.

Same with the market - if hedge funds are allowed to rape companies like they do now, then it would be better to stay away from this market, this would cause serious negative effect and this is why hedge funds (or more precisely their strategies of aggressive shorting) should be banned in the interests of long term beneficiaries of stock markets.

[DiscoStu]

I don't think high CGT for short term profits will paralise market.

CGT should be highest for short term gains to encourage long term investment - perhaps CGT should be zero after 2-3 years of share holding, so I do advocate low or zero taxes for long term investors and high taxes for speculators.

You just don't get it do you....

What on earth makes you think anyone would take a position that they can't exit out of for 2 years without a huge penalty? You're brilliant idea would effectively kill investment in shares dead.