Re:Financial Statement Analysis with Large Language Models
by lxgr on Friday May 24, 2024 @08:00PM
(#40471551)
Don't even know where to begin with this:
No, not all of finance is a zero-sum game. If you're connecting a buyer and seller that otherwise wouldn't have met, you provided value. Same for connecting them through time (in that you can e.g. help prevent somebody having to panic-sell their house from getting a suboptimal price).
Sure, there's speculation, nepotism, corruption; there are immoral and illegal market practices with no end, but you're making it sound like that's the entire purpose of finance, and not an undesirable byproduct.
Also, as if these only exist there, and not everywhere where there is power and money: Politics, business, even charity are not immune.
Starting a company is more ethical than trading – seriously? While there might be a general trend, can you think of no philanthropic traders and of no unethical founders (some of them in jail)?
> If you want to make some money get trained and get a good salary. Save your money in safe assets
100% agreement on the first part. But if everybody invests their money in "safe assets", there is no capital for people to start companies other than banks. Is that desirable? And who even determines what a safe asset is? What about people that manage and allocate risk? That's a function of finance again!
> Friends, look after friends. Maximise happiness. Be honest, be ethical, be safe
I agree, but this arguably has little to do with the remainder of your sweeping generalization.
No, not all of finance is a zero-sum game. If you're connecting a buyer and seller that otherwise wouldn't have met, you provided value. Same for connecting them through time (in that you can e.g. help prevent somebody having to panic-sell their house from getting a suboptimal price).
Sure, there's speculation, nepotism, corruption; there are immoral and illegal market practices with no end, but you're making it sound like that's the entire purpose of finance, and not an undesirable byproduct.
Also, as if these only exist there, and not everywhere where there is power and money: Politics, business, even charity are not immune.
Starting a company is more ethical than trading – seriously? While there might be a general trend, can you think of no philanthropic traders and of no unethical founders (some of them in jail)?
> If you want to make some money get trained and get a good salary. Save your money in safe assets
100% agreement on the first part. But if everybody invests their money in "safe assets", there is no capital for people to start companies other than banks. Is that desirable? And who even determines what a safe asset is? What about people that manage and allocate risk? That's a function of finance again!
> Friends, look after friends. Maximise happiness. Be honest, be ethical, be safe
I agree, but this arguably has little to do with the remainder of your sweeping generalization.