Is we incapable of learning our lesson?

I mean, am I the only person who, upon hearing about “Cantor Fitzgerald’s application to create an exchange for speculation on the financial performance of movies”: thought, “My, that sounds a lot like the idea of getting CDOs on bonds you don’t hold?”, which, of course, is a feature of our recent financial meltdown.

Oh, and regarding the latter, unrelated half of that story, about a site called WeSeed whose co-founder suggests:

bq. By leveraging the power of community, the 100 million Americans who don’t currently invest can learn the basic fundamentals of stock investing and become smarter, more confident, better informed and even more competitive in their jobs.

To those tempted, I can only recommend that you buy index funds–most investors don’t know shit. Again, as demonstrated by the latest debacle.