They might be spiteful adolescents, but the hedge funds are run by greedy c****. They manipulate stocks all the time. How about HFT? Do a million buys in a microsecond then sell when it rises a quarter point a couple microseconds later. What actual value is that?
That BS is a drain on our most intelligent people.
Physics, Math, and Computer Science PhDs writing algorithms for Wall Street scum. But, that’s where the money is, so that’s where they go.
“What actual value is that?”
It’s part of the freedom which creates liquid markets which is highly valuable.
Hedge funds, and stock markets provide a legitimate and socially useful service. They help manage risk, foster investment and grow the economy, something income redistribution does not do. I am an MSEE myself and not a stock market guru, but putting aside about 10% of my income in conservative mutual fund for 35 years I managed to accrue a personal worth of over two million dollars, one paycheck at a time. You can, too. I am not fabulously wealthy, but slow and steady annualized returns of about 8% have put me in position for a comfortable retirement. Until AOC and Biden decide I am not entitled to what I earned and saved.