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> and refused to update their prior when they lost money day after day

The market takes money from people with incorrect beliefs about economics and gives it to people with correct beliefs. ~~What is the problem here?~~

On second read, I think the parent was just intending a factual statement, which I am willing to agree with.

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Disassociates the value of the underlying assets which devalues the currency. Probably why regulatory bodies had to get involved.

The market takes money like a bully most of the time. Any other belief is as theoretical as communism vs practice.

If you're selling millions of dollars of options you're taking an extremely willing risk, not getting bullied.

Edit: Reading more about this, it looks like the counterparty is often a bunch of retail investors doing quick trades hoping the stock swings one way or the other, and that's not bullying that's gambling.

I agree with your edited point, and in response to sentiments I saw earlier in the thread—even gamblers deserve nominal assurances against cheating. My two cents, which I personally will be investing in wishes via my local wishing well, to which I’ve connected a dedicated fiber link to power my high-frequency algorithmic wish arbitrage desk.

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