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Re:Index Investing Makes Markets and Economies More Efficien... by OscarCunningham on Tuesday September 19, 2017 @12:42PM (#15286240)
So if I invest in Facebook now, I'm helping them by making it easier for them to raise money several years ago? In some kind of weird acausal way, because people then anticipated my actions now?
Re:Index Investing Makes Markets and Economies More Efficien... by ncallaway on Tuesday September 19, 2017 @01:07PM (#15286495)
> In some kind of weird acausal way, because people then anticipated my actions now?

They didn't anticipate _your individual_ actions, but it's highly likely that the persons that bought into Facebook's IPO did expect that they would be able to sell the stock to _someone_ at a later date.

So, yes, people anticipated your actions now (if you look at _your_ actions as the general actions of the crowd, instead of your individual actions)

Re:Index Investing Makes Markets and Economies More Efficien... by gnode on Tuesday September 19, 2017 @01:11PM (#15286533)
If you invest in a stock with the intention of selling it later, rather than holding it forever to earn the dividends, your decision was motivated by the expectation that there will be a market for it in the future.

By buying Facebook stock now, you're fulfilling that expectation of earlier investors, which motivated them to provide Facebook's initial funds.

Re:Index Investing Makes Markets and Economies More Efficien... by tome on Tuesday September 19, 2017 @12:55PM (#15286378)
No, you're helping pre-IPO companies raise money now.