B/S/T Etiquette

Balticfox · #1 02-24-2025, 11:30 AM

Quote:

Originally Posted by OhioLawyerF5

For someone appearing to work in the stock market....

Yes, that's what many customers would say about stockbrokers back in the day!

It's interesting though. If you asked me now whether I should have become an actual stock broker many years earlier in the 1970's, I'd now say "Sure!" But if you asked me whether I'd like to be a stock broker now, I'd say "No!" Times have changed.

Quote:

Originally Posted by OhioLawyerF5

..you seem to not understand fundamental differences between a brokered sale of stock and a sale of private personal property, and the legal reasons for that (hint: there were a couple important laws passed in the 30s that deal with securities and treat them differently).

I understand that stock and futures (e.g. commodities) markets are about as pure and efficient markets as can exist. I'm also fully aware that other kinds of selling fall far short of these in terms of purity/efficiency. Unlike you though I find this situation to be sad.

OhioLawyerF5 · #2 02-24-2025, 11:34 AM

Quote:

Originally Posted by Balticfox

Yes, that's what many customers would say about stockbrokers back in the day!

It's interesting though. If you asked me now whether I should have become an actual stock broker many years earlier in the 1970's, I'd now say "Sure!" But if you asked me whether I'd like to be a stock broker now, I'd say "No!" Times have changed.

I understand that stock and futures (e.g. commodities) markets are about as pure and efficient markets as can exist. I'm also fully aware that other kinds of selling fall far short of these in terms of purity/efficiency. Unlike you though I find this situation to be sad.

You can't possibly believe that to be true. It is the opposite of sad that a private sale of personal property is not as heavily regulated as the stock market. The last thing we need is more government interference in simple transactions.

Balticfox · #3 02-24-2025, 11:43 AM

Quote:

Originally Posted by OhioLawyerF5

You can't possibly believe that to be true. It is the opposite of sad that a private sale of personal property is not as heavily regulated as the stock market. The last thing we need is more government interference in simple transactions.

I agree. We need no more government regulations. I'm arguing for a simple "A man's word is his bond" standard. That's effectively what's been in force in stock, bond and futures markets since late in the 19th century.

OhioLawyerF5 · #4 02-24-2025, 11:49 AM

Quote:

Originally Posted by Balticfox

I agree. We need no more government regulations. I'm arguing for a simple "A man's word is his bond" standard. That's effectively what's been in force in stock, bond and futures markets since late in the 19th century.

This has nothing to do with a man's word being his bond. We all agree a man's word should be his bond (in fact, I've said a man's word can be a binding contract). This thread was about a situation where there had not been an agreement in place. No man's word had been given.

Mark17 · #5 02-24-2025, 11:42 AM

Quote:

Originally Posted by Balticfox

I understand that stock and futures (e.g. commodities) markets are about as pure and efficient markets as can exist. I'm also fully aware that other kinds of selling fall far short of these in terms of purity/efficiency. Unlike you though I find this situation to be sad.

I'm curious. If
1. You had a unique item of a former player, let's say a vintage game used jersey
2. You list it for $1000, then go to a movie
3. When you return home, you have 2 people wanting to buy it. The first, timestamped at 7:30, is an auction house that will buy to flip. The second, timestamped a couple minutes later, is from the player's son. Turns out the player passed away the previous week and the family is in mourning.

Would you hold to your rigid, dogmatic principle of how pure and efficient markets should work (first offer to buy gets the cheese,) or take a more human approach?

clydepepper · #6 02-24-2025, 01:37 PM

Quote:

Originally Posted by Mark17

I'm curious. If
1. You had a unique item of a former player, let's say a vintage game used jersey
2. You list it for $1000, then go to a movie
3. When you return home, you have 2 people wanting to buy it. The first, timestamped at 7:30, is an auction house that will buy to flip. The second, timestamped a couple minutes later, is from the player's son. Turns out the player passed away the previous week and the family is in mourning.

Would you hold to your rigid, dogmatic principle of how pure and efficient markets should work (first offer to buy gets the cheese,) or take a more human approach?

In my opinion (aka whatever that's worth), if both offers are forum members, the timestamp rules. Uncomplicated rule for someone who tries to be fair, but uncomplicated.

...'go to a what?'

Balticfox · #7 02-25-2025, 02:21 PM

Quote:

Originally Posted by Mark17

I'm curious. If

1. You had a unique item of a former player, let's say a vintage game used jersey
2. You list it for $1000, then go to a movie
3. When you return home, you have 2 people wanting to buy it. The first, timestamped at 7:30, is an auction house that will buy to flip. The second, timestamped a couple minutes later, is from the player's son. Turns out the player passed away the previous week and the family is in mourning.

Would you hold to your rigid, dogmatic principle of how pure and efficient markets should work (first offer to buy gets the cheese,) or take a more human approach?

Well given the nature of this forum I would effectively be receiving both offers at the same time. Moreover given the inefficiencies introduced by living my life and other people living theirs, there can be no rational expectation that everyone sees my offer at the instant I post it. Therefore I would choose the player's son instead of the known flipper. Quite simply, I'd have the very good reason:

Quote:

Originally Posted by gregndodgers

Absent a good reason, an individual cannot simply choose whom to sell to.

But I would make my decision immediately at the time choosing from among the PM's I'd received.

Mark17 · #8 02-25-2025, 02:53 PM

Quote:

Originally Posted by Balticfox

Therefore I would choose the player's son instead of the known flipper.

Good to know it isn't quite as cold in Canada as I thought.

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