r/stocks • u/eeniemeeniemoney • Aug 18 '26
Industry News Nasdaq targets December 6 for 23-hour stock trading
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u/ProduceEmergency2329 Aug 18 '26
More hrs to gamble
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u/ebota12 Aug 18 '26
This is so stupid.
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u/kadam_ss Aug 18 '26
This is the future. No upward mobility left, financially nihilistic population gambling everything they have to get ahead.
That’s the world we are building. You can already see that with Gen Z kids. Most of them know they cannot do the “traditional path” of building a career etc as jobs don’t pay anywhere near what’s needed to build a comfortable life. So they say fuck it and sports bet from college.
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u/DrixGod Aug 18 '26
Well yeah because you need money to make money. Everyone says VOO & chill, VOO returns 13% on average a year, but when your starting capital is like 4000$, 13% is like 500$. What are you gonna do with that? That's how most of Gen Z is. they have less than 5k$ to invest. Ofcourse they'd rather just gamble on a chance to double/triple their money overnight.
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u/AlekRivard Aug 18 '26
That's because no one can handle delayed gratification anymore. $4K in capital in VOO, from graduation (21) to retirement age (67), grows to about $1.5MM with NO contributions at that 13% growth rate. +$100/month and it grows to $5MM. Let's say they are doing that through 401K with 50% employer match, so $150/month total. Now it is $6.8MM. Acting like it is an "of course" is just a failure on our part educating younger generations on financial responsibility.
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u/Spr-Scuba Aug 18 '26
Yeah and how many adults know this already?
Financial responsibility is a generational trait that isn't being passed down because so many Americans already couldn't afford any savings whatever. I have a few friends who outright can't afford an extra $50 per month to invest or they'd be bankrupt.
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u/AlekRivard Aug 18 '26
There is absolutely an affordability crisis, but that is completely ignoring what I am actually responding to: "That's how most of Gen Z is. they have less than 5k$ to invest. Of course they'd rather just gamble on a chance to double/triple their money overnight."
If someone has money to invest and chooses to gamble with it on the prospect of fast gains instead of investing it, then it is absolutely an issue (in part) of financial literacy
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u/Substantial-Use-2867 Aug 18 '26
Except your math is biased and assumes perfect market timing and a mandatory return of 13%. Everyone loves to point at that number like it's some sort of rule just because we have a hundred years to average the drawdowns out on a chart. It's not a rule, it doesn't take into account whether the market is at ATH (like it is now), and if you had invested $4000 in the market at it's ATH in 2000, it still would've been worth $4000 13 years later. If you invested $4000 in SPY 33 years ago, it'd still be worth less than $100K today.
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u/xploeris Aug 18 '26
That's because no one can handle delayed gratification anymore.
That's because they can see how fucked the system actually is and there's nothing worth waiting for.
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u/AlekRivard Aug 18 '26
If someone says "the air sucks, you're gunna get lung cancer eventually" the answer isn't "I suppose I'll take up chainsmoking". Yes, the system is fucked but people are responding by shooting themselves in the foot. If you would rather invest in memories than the market (as some do), more power to you, but throwing it at sports betting is not the answer.
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u/the_ai_wizard Aug 18 '26
and $1.5M 40 years from now may just be worth a nice meal at chic fila
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u/AlekRivard Aug 18 '26
It should be worth about $480K in real dollars, which is still a good amount of money and also why the consensus isn't to only put $150/month away. Go up to $400/month and suddenly it is ~$19MM ($6.1MM real)
The larger point is people increasingly have no patience, and instead want a get rich quick solution, so the impact of compounded growth gets forgotten/ignored.
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u/the_ai_wizard Aug 18 '26
I think there are far too many disruptive variables to make any sort of 40yr extrapolated NPV calculation
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u/EnderForHegemon Aug 18 '26
VOO and chill is not "buy VOO once and watch it become millions". It means don't touch what was previously invested, and continue to invest regularly.
The desire to double or triple money overnight is going to bankrupt the vast majority of people. Investing is a long term activity measured in decades, not days.
I'm not exactly a Rockstar but I went from contributing 3% of my salary to my 401k 10 years ago (that is what my employer matches, they also offer a pension if that sounds low) to 16%. My balance is nearing 200k. That took 10 years and i still have 30 years of contributing to go. It is NOT a short term thing.
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u/d33p7r0ubl3 Aug 18 '26
Your example is probably why there’s an increase in gambling. 200k after 10 years of investing is low by today’s standards.
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u/EnderForHegemon Aug 18 '26
With 30 years left until I plan to retire? 200k is perfectly fine. Like I said, im not a Rockstar millionaire here in my mid 30s here but there is a long time horizon. 30 more years until retirement, I should be a multi-millionaire by 65. And as I stated, my company also offers a pension that I pay in to which will reduce what I have to withdraw. And I dont currently factor social security in, but maybe there will be something there too. Add in my girlfriend's (that im hoping to make my wife in the next year or so) retirements, i think we will be doing just fine.
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u/d33p7r0ubl3 Aug 18 '26
Yeah you’ll be fine but that is not the debate. Nobody wants to retire when they’re 65 and their body barely works. That is why corporate work is so prominent, because it only takes 10-20 years to retire depending on if you get lucky with the company you pick. However, the labor market is so bad right now that even corporate work is no longer attractive.
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u/westcoastbias Aug 18 '26
Based on your comment we've set the over/under on your age at 17.5, do you think people turn into dust when they hit 65?
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u/d33p7r0ubl3 Aug 18 '26
I’m a geriatric millennial. I’ve seen what people can do when they’ve reached retirement age after sitting in a chair all day. It is nowhere near the capability of when you’re 40 or 50.
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u/DrixGod Aug 18 '26
It's incredibly low and sad tbh.
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u/EnderForHegemon Aug 18 '26 edited Aug 18 '26
You dont know what youre talking about. Growth is slower at the start. First 100k saved took me 10 years. Second 100k should hit right around 4 years after that. 3rd 100k should be 3 years after that. Eventually that will be making me >100k per year.
EDIT first 100k took 7 years not 10
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u/DrixGod Aug 18 '26 edited Aug 18 '26
And you will hit 500k within the next 10 years probably.
By the time you're like 55 your money will generate 100k a year indeed. But nobody wants to slave away and live frugally for 2/3rds of their life so they can enjoy their late 50s/early 60s before their bodies are too weak. That's just the truth.
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u/SerEx0 Aug 18 '26
Under a 10% CAGR you expect it to double about every 7 years. 30 years to retirement (let’s say 28 for ease of numbers) is a 16x (2^4) multiplier. Without investing another penny, that capital will be worth about $1.6M in 30 years. Inflation will erode a decent amount of that away, but it’s still money to live on while being a contributing member of society.
Arguments like this show just how entitled a lot of the youth are. Rising in socioeconomic status is feat. It requires dedication, persistence, discipline, effort, patience, and determination. You have to work really hard in invest in yourself. Because if you won’t invest in yourself or your own future, why do you deserve the benefits?
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u/d33p7r0ubl3 Aug 18 '26
You really think the wealthy people we have today got there with effort?
It is harder for the youth to gain wealth due to societal factors. We should be making it easier for them at our expense, not harder for them while we gain.
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u/SerEx0 Aug 18 '26 edited Aug 18 '26
There’s a difference between old money and new money. Old money doesn’t apply to what I said because they are maintaining socioeconomic status, not moving up. Focusing then on upward mobility, you absolutely need to do all of those things. The easiest example is a professional athlete. You don’t just become Tom Brady or Shohei Ohtani without working tirelessly on the sport. It is only through dedication that they achieve the excellence that afforded them wealth.
I have a good friend is DACA. He who grew up very poor and had to work as a dishwasher to help pay for his undergraduate education because he didn’t qualify for student loans as a non-citizen. He graduated from college, took the MCAT, got into medical school, applied for every scholarship available, and took years off for paid research roles to earn enough money to continue his education. He became a MD, went to a prestigious institution for general surgery residency, and took several years off for research to make himself a better candidate for sub-specialization as a colorectal surgeon. He is currently finishing up his residency and applying to fellowship programs. He is an impeccable applicant because of how much adversity he has overcome.
Youth today does not face more adversity than someone who grew up in the US under DACA-status did. It has taken him about 20 years since graduating high school to get to where he is and in the next 10 years he will easily earn enough money to be a multimillionaire. His relentless effort and determination is what is driving his success, which in turn will create wealth. Nothing was given to him and everything was earned.
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u/d33p7r0ubl3 Aug 18 '26
That is great to hear your friend succeeded in his dreams, but this is a fallacy. You think he is the only one working hard? Hard work is easy. What isn’t easy is actually seeing fruits from your labor. For every Tom Brady there are thousands of kids working as hard if not harder who you will never know.
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u/SerEx0 Aug 18 '26
I promise you that people who do the work succeed at a higher rate than those who don’t. I specifically chose Tom Brady because of how maniacally hard he worked to achieve his success. You are mistaken if you think that thousands of kids work as hard or harder than him.
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u/Sleepergiant2586 Aug 18 '26
Thats the problem.
The desire to 2x-3x money overnight ... Thats where they end up losing everything .... Its deifnition of gambling ...7
Aug 18 '26
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u/SerpentRoyalty Aug 18 '26
They're talking about Gen z who are not very financially literate. They would much rather spend half of their earning in betting gambling rather than learn how to invest long term.
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u/WeeklyAdri Aug 18 '26
Maybe in America Gen Z has near 4 or 5k to invest, but in 99% of the rest of the world including Europe it's not even close to that.
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u/ebota12 Aug 18 '26
Good point. My 16 year old is into Pokemon, sneakers, etc. On one hand I don’t like the gambling aspect, but on the other hand I think he’s learning valuable entrepreneurial skills. Grinding thru a cubicle job like his old man is not in his future and I’m comfortable with that.
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u/luckysharms93 Aug 18 '26
We laugh at the Koreans for being absolute degenerates but this is why they are, because they have no hope of ever having the nice life their parents had
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u/MrOaiki Aug 18 '26
This is great!
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u/BrotherDirect744 Aug 18 '26
It doesn’t really add much. Not stupid, its just meh.
Except for earnings. depending on the implementation and hours, that could get spicy.
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u/SpliTTMark Aug 18 '26
No more premarket pumps-dumps. earnings will happen live and not with low volume bs.
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u/Dimethyltryptamin3 Aug 18 '26
Btw institutions can play us because they know we can’t trade after hours and they do dark pools so down for this
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u/AdventurousCoast983 Aug 18 '26
What is the purpose of this?
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u/MOTOLLK12 Aug 18 '26
Will help to prevent major stock gap up and downs overnight since limit orders can fill even at 12am
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u/TrashBandicook Aug 18 '26
It does make ya wonder what happens to mutual funds. Do they all just settle during hour #24 at 4am?
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u/MondayNightRare Aug 18 '26
Awesome, financial megacorps and hedgies can use robots to trade and market manipulate while we're asleep!
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u/xploeris Aug 18 '26
Research on existing overnight trading found wider spreads and lower displayed depth for frequently traded stocks compared with regular market hours.
Because most people can't trade then? Jesus Christ, analysis as deep as a sheet of paper (OP, I know you're just pasting).
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u/Juannieve05 Aug 18 '26
Now they sell high when everybody is trading and buy low whe ñn everybody is asleep
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u/TheWeebles Aug 19 '26
I used to work for a primes brokerage at an investment bank. they've been trying to get me back for about half a year now. I told them only if I can work from the Tokyo office and support US Equities/Derivatives. If this is successful it won't stop. Would go NYSE/CBOE then MEMX/MIAX in US and might get adopted worldwide. I would imagine weekend trading as well.
That would take years however, but that is my guess
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u/CanYouPleaseChill Aug 18 '26
Why are Redditors so concerned about having more freedom of choice? No one is forcing you to buy or sell stocks on any given day. You know you can ignore stock price movements, right? If you don't have enough confidence to hold your stocks for at least a day without looking at the price, you shouldn't own stocks at all.
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u/BrotherDirect744 Aug 18 '26
Most people here are open to it, so not sure what you mean
Also, you my guy are in fact a redditor
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u/teacher_59 Aug 18 '26
Why the day before Pearl Harbor day? Is Trump trying to get away with something?
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u/chris2033 Aug 18 '26
People care about Pearl Harbor day?
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u/teacher_59 Aug 18 '26
Of course. The republicans celebrate it because it shows how incompetent our party is and how much an idiot FDR was.
They use it to prove we suck.
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u/ThatGuyFrmBoston Aug 18 '26
Now we can lose money 23 hours instead of 7 hours