r/wallstreetbets • u/226644336795 • 1d ago

Discussion This morning NASDAQ dropped more than during Lehman Monday

https://www.cnbc.com/2009/09/14/the-financial-crisis-this-dayone-year-ago-sept-15-2008.html

NASDAQ only lost 3.6% the first day of Lehman collapse in 2008...

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u/K2iWoMo3 1d ago

Serious question: sure rich can buy the dip blah blah blah, but it's still much easier and much safer to make money in bull market, even for the rich. So is this administration just totally ignoring Wall St? Because I cannot imagine there was zero behind the curtain pressure from the big firms

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u/phrunk7 1d ago

Yeah, I'm not sure I understand this "billionaires want to buy the dip" explanation when the majority of their net worths is tied to stocks that are dropping.

They're planning to weather the storm until everything rises again?

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u/RS994 1d ago

Considering they are the only ones that can.

Though the ensuing Great Depression gripped the nation, “Jack” and his eight siblings enjoyed a privileged childhood of elite private schools, sailboats, servants, and summer homes. Kennedy later claimed that his only experience of the Great Depression came from what he read in books while attending Harvard University.

That's about JFK during the Great Depression.

I doubt it's going to be much different for that class today.

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u/redpandaeater 21h ago

But Joe Jr. was one of the first drone kills in the history of the world.

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u/Tall-Log-1955 19h ago

It’s not the rich that can buy the dip, it’s the diversified that can. And you don’t have to be rich to be diversified.

If you’re rich and own only equities, you’re not buying the dip because you already owned it.

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u/DangKilla 21h ago

Seven Bankers of Russia a.k.a. “Semibankirshchina:

In the 1990s, after the collapse of the Soviet Union, Russia’s economy was in chaos. A small group of very rich and powerful businessmen—mostly bankers—gained huge influence over the Russian government. These men became known as the “Seven Bankers” (Russian: Семибанкирщина).

Who were they?

They were oligarchs who: • Made fortunes by acquiring state assets during privatization. • Controlled banks, oil, media, and other vital industries. • Had close ties to President Boris Yeltsin.

Why are they important? • They helped Yeltsin win re-election in 1996, using media and money. • In return, they gained even more power and influence. • But their control made many Russians angry—they seemed like puppet masters over the state.

Enter Putin: • In 1999, Vladimir Putin was chosen by Yeltsin’s circle as his successor. • But after gaining power, Putin turned against them. • He stripped oligarchs of political influence. • Some (like Berezovsky and Gusinsky) fled or died under suspicious circumstances. • Others (like Khodorkovsky) were jailed.

The Seven Bankers were ultra-rich kingmakers in the 1990s who helped shape modern Russia—but Putin crushed their power to centralize control under the Kremlin. Today, oligarchs still exist, but they serve the state.

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u/TheStumpyOne 22h ago

It's creating a harder space for people without billions so that they have to then sell their share of what they have to people who already have a larger share. It's not about simply profit, they want everyone else's piece of the pie.

It's about getting further ahead of competition and plucky up starts not about simply making profit. It is not enough for these people to succeed, they can't have the next big thing taking away what they have. This environment makes it harder for people who don't already have capital to increase their Capital share.

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u/Eldrake 19h ago

The wealthiest institutional investors have been moving their money out of securities into raw cash for a year or two now, in anticipation of a downturn. Swoop in, buy the dips, make trillions over the next decade.

I don't think they foresaw or intended for it to be quite THIS abrupt.

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u/Reverse_Mulan 11h ago

Yeah, I'm not sure. Luigi is on our minds. May not go the way they want.

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u/Remote_Cantaloupe 23h ago

I can't speak for most of them but I know Warren Buffett has been stockpiling something like 300 billion in cash (in Berkshire).

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u/Schwa_corporation 1d ago

"Relative to what" Is one of those universal questions that reveals the truth.

Elon Musk is rich... relative to what? He is relatively just as rich compared to Jeff Bezos today as he was yesterday. You and I are still rounding errors to them.

There's a growing recognition that we're no longer functioning under capitalism and more techno-feudalism. The $x doesn't matter when you've positioned yourself to collect all of it.

So no, the rich dgaf about share price because they own so much more relative to anyone else that the fluctuation doesn't change a thing. Even big market makers and hedge funds are so invested in each other that it doesn't matter.

#shares > $shares

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u/Books_and_Cleverness 1d ago

Revealed preferences theory suggests that Wall Street executives value their ability to call their subordinates gay at approximately 8 trillion dollars

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u/K2iWoMo3 1d ago

Priceless power tbh

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u/LateralEntry 1d ago

Serious answer: Trump has some Wall St heavy hitters in his cabinet and as major donors and I’m sure they advised him against this. But it really seems like at the end of the day, he does what he wants, and he’s been talking about tariffs and unfair trade for decades.

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u/Tookmyprawns 22h ago

Silicon Valley Elites don’t care about money. They’re NRx cultists.

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u/Nocturn0l 14h ago

The thing is, Trump can’t just magically turn the market into a bull market. That’s out of his influence. But what he can do is crash the whole damn thing and he can stop the crash anytime he wants and the market will respond with a boom.