Financial Nihilism

A philosophy on investing and markets in which value does not exist or is inherently unknowable. The claims of this ideology stems from an underlying belief that markets have no purpose and cannot, or does not, exist to do price formation on assets because of a belief that capitalism does not work.

This is a belief system held by some who participate in meme stock and meme coin projects.

References

  1. Warzel, Charlie. 2021. ‘The Absurdity Is the Point’. Substack newsletter. Galaxy Brain (blog). 11 May 2021. https://warzel.substack.com/p/the-absurdity-is-the-point.
  2. Gerard, David. n.d. ‘Confused About Dogecoin? Here’s How It (Doesn’t) Work.’ Foreign Policy (blog). Accessed 3 March 2022. https://foreignpolicy.com/2021/02/11/dogecoin-how-does-it-work-elon-musk-cryptocurrency/.
  3. Glongloff, Mark. n.d. ‘Bitcoin, GameStop Are More Cults Than Investments’. Bloomberg. Accessed 2 March 2022. https://www.bloomberg.com/opinion/articles/2021-03-02/bitcoin-btc-gamestop-gme-are-more-cults-than-investments.
  4. Klarin, Anton. 2020. ‘The Decade-Long Cryptocurrencies and the Blockchain Rollercoaster: Mapping the Intellectual Structure and Charting Future Directions’. Research in International Business and Finance 51 (March). https://doi.org/10.1016/j.ribaf.2019.101067.
  5. Maddox, Alexia, and Luke J Heemsbergen. 2021. ‘Digging in Crypto-Communities’ Future-Making: From Dark to Doge’. M/C Journal 24 (2 SE-). https://doi.org/10.5204/mcj.2755.
Edit this page