Politics And Current Events

MrKennethTKangaroo
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Postby MrKennethTKangaroo » Thu Jan 28, 2021 7:05 am

OK, so again, some rando hedge fund lost $ 2 billion dollar due to this internet bridgade. Sucks for them.

On the 26th, 146 million shares changed hands. Based on the opening and closing value of the stock, that is somewhere between $11 billion and $23 billion worth of stock changed hands. On the 27th, another $23 billion worth of stock changed hands.

And so on and so forth. Even if there is another handful of hedge funds that have to close out, where is the rest of that trading volume and money coming from?

skullman80
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Postby skullman80 » Thu Jan 28, 2021 7:24 am

Why do you care so much? I'm confused. Some people will be left holding the bag... that's the nature of the beast. Alot of people are also going to make alot of money in a very short period of time playing the game that wallstreet plays all the time. What's the big deal?

eddy
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Postby eddy » Thu Jan 28, 2021 7:33 am

I realize nothing because I don’t understand any of this
We. Not I

MrKennethTKangaroo
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Postby MrKennethTKangaroo » Thu Jan 28, 2021 7:59 am

Why do you care so much? I'm confused. Some people will be left holding the bag... that's the nature of the beast. Alot of people are also going to make alot of money in a very short period of time playing the game that wallstreet plays all the time. What's the big deal?
If you want me to be totally honest, your very cavalier attitude is the big deal. Two days ago you didn’t know what margin was, and now you are waxing poetically about the nature of the beast.

This morning on my gf’s facebook feed, there was a friend of ours asking about how to get into robinhood because he needed money. The dude has been out of work during the pandemic and didn’t have two nickels to rub together even before the pandemic, and now he’s got people on facebook telling him about how great it is that robinhood gives you free stock when you sign like, like its a god damn casino handing out $25 of free slot play. But hey, that is the nature of the beast if he puts in a couple hundred bucks and loses them on some stupid wild bet fueled by sentiment on the internet.

In general, 5af is composed of relatively well to do people in their 30s with relatively established families and relatively well established careers. We generally finished school in the middle of the financial crisis. We have all benefited from a decade of good returns on our 401k, largely thanks to the Fed’s never ending stimulus. We all have benefited from mortgages in the 2 or 3% range becuase of the Fed’s never ending stimulus. We have it good right now. Except for a few months back in march (before more never ending stimulus) we got a quick taste of volatility, but that is the only market trouble we have experienced as adults. Volatility sucks, it is dangers, and it can cause serious financial harm to every day people like you and me.

I don’t have a dog in the race. I don’t work in the markets and I no longer dabble in the market like it used to. I’m not a hedge fun fanboy, and I don’t give two shts about them losing money. But i am an avid reader of business news and an avid reader of business history. Bubbles based on no logic are dangerous. Short squeezes are dangerous. They used to be popular when the market was far less regulated and they aren’t as frequent as they used to be. I’m no expert on them, but i know enough to know that they can end badly.

Troy Loney
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Postby Troy Loney » Thu Jan 28, 2021 8:06 am

I also have no problem screwing the short sellers. I do think it's problematic how this train is seeming to focus on trying to get more people in on the charade though.

Trip McNeely
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Postby Trip McNeely » Thu Jan 28, 2021 8:07 am

I also have no problem screwing the short sellers. I do think it's problematic how this train is seeming to focus on trying to get more people in on the charade though.
This.

More people are gonna get screwed by this then people who are gonna benefit

And to Kenny’s point, if these sort of short squeezes are just a fad, it’s fine. But if it becomes a daily occurrence, the market in general is going to hurt just because of the volatility

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Postby count2infinity » Thu Jan 28, 2021 8:11 am

There are three types of people that are in on this... the OGs at WSB that have some semblance of an idea of what they're doing, we idiots that got on at the beginning of the week and are just having fun, and the complete numbskulls as you described Kenneth.

The OGs are getting what they want: chaos and a feeling of some power. We idiots are getting what we want: fun. The complete numbskulls that don't have any cash, no idea what's going on, they heard about it on the news and don't even know how to work a super user friendly ui like Robinhood... they're boned, but really aren't they just boned either way? If it wasn't this it'd be something else.

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Postby Troy Loney » Thu Jan 28, 2021 8:11 am

People are dumb, they don't understand complicated things. They think complicated stuff is just the man screwing them. They are getting convinced that these stock bubbles is some sort of david / goliath thing. And you have choads like Barstool Sports guy telling them this story, and of course all the people (like those in here) that are in early and think they are screwing the man too. Trying to rally a stock is not screwing the "man".

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Postby count2infinity » Thu Jan 28, 2021 8:12 am


And to Kenny’s point, if these sort of short squeezes are just a fad, it’s fine. But if it becomes a daily occurrence, the market in general is going to hurt just because of the volatility
I have seen post after post after post over on WSB saying this is a once in a lifetime thing. Most are fully aware this is an anomaly and not how the market typically works.

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Postby count2infinity » Thu Jan 28, 2021 8:13 am

People are dumb, they don't understand complicated things. They think complicated stuff is just the man screwing them. They are getting convinced that these stock bubbles is some sort of david / goliath thing. And you have choads like Barstool Sports guy telling them this story, and of course all the people (like those in here) that are in early and think they are screwing the man too. Trying to rally a stock is not screwing the "man".
Screwing "the" man... screwing "a" man... tomato.... potato.

skullman80
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Postby skullman80 » Thu Jan 28, 2021 8:21 am

Why do you care so much? I'm confused. Some people will be left holding the bag... that's the nature of the beast. Alot of people are also going to make alot of money in a very short period of time playing the game that wallstreet plays all the time. What's the big deal?
If you want me to be totally honest, your very cavalier attitude is the big deal. Two days ago you didn’t know what margin was, and now you are waxing poetically about the nature of the beast.

This morning on my gf’s facebook feed, there was a friend of ours asking about how to get into robinhood because he needed money. The dude has been out of work during the pandemic and didn’t have two nickels to rub together even before the pandemic, and now he’s got people on facebook telling him about how great it is that robinhood gives you free stock when you sign like, like its a god damn casino handing out $25 of free slot play. But hey, that is the nature of the beast if he puts in a couple hundred bucks and loses them on some stupid wild bet fueled by sentiment on the internet.

In general, 5af is composed of relatively well to do people in their 30s with relatively established families and relatively well established careers. We generally finished school in the middle of the financial crisis. We have all benefited from a decade of good returns on our 401k, largely thanks to the Fed’s never ending stimulus. We all have benefited from mortgages in the 2 or 3% range becuase of the Fed’s never ending stimulus. We have it good right now. Except for a few months back in march (before more never ending stimulus) we got a quick taste of volatility, but that is the only market trouble we have experienced as adults. Volatility sucks, it is dangers, and it can cause serious financial harm to every day people like you and me.

I don’t have a dog in the race. I don’t work in the markets and I no longer dabble in the market like it used to. I’m not a hedge fun fanboy, and I don’t give two shts about them losing money. But i am an avid reader of business news and an avid reader of business history. Bubbles based on no logic are dangerous. Short squeezes are dangerous. They used to be popular when the market was far less regulated and they aren’t as frequent as they used to be. I’m no expert on them, but i know enough to know that they can end badly.
All fair points. I agree I have a very cavalier attitude about this. The money I invested was "fun" money to me. If things go south and I lose the $1000 dollars I invested....then I walk away and am no worse for the wear (I won't because I have an exit strategy on the low end as well). Best case scenario I make 10 grand or so (7500 after uncle sam takes his cut), and walk away with some cash I didn't have a week ago based on a once in a lifetime occurrence.

I know this is not normal and this won't happen again. I'm simply along for the ride.
Last edited by skullman80 on Thu Jan 28, 2021 8:26 am, edited 1 time in total.

Freddy Rumsen
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Postby Freddy Rumsen » Thu Jan 28, 2021 8:22 am

Yep, and worth remembering some hedge folks have made a killing to me.


Trip McNeely
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Postby Trip McNeely » Thu Jan 28, 2021 8:22 am


And to Kenny’s point, if these sort of short squeezes are just a fad, it’s fine. But if it becomes a daily occurrence, the market in general is going to hurt just because of the volatility
I have seen post after post after post over on WSB saying this is a once in a lifetime thing. Most are fully aware this is an anomaly and not how the market typically works.
This specific procedure used might be anomaly. But the jumping on random stocks by the masses is not. Look at Kodak. Look at Etsy after Musk tweeted “I like Etsy”. Look at everything that portnoy does.

I don’t have any real issue with screwing over these scumbag short sellers. But this seems to be the start, to me at least, of a dot com esque bubble of people having no clue what they are doing, gambling away their life savings

I mean look at Tesla’s valuation. There is zero zero chance that company is worth anything near that. But musk has a bunch of fanboys that eat up every word

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Postby NTP66 » Thu Jan 28, 2021 8:27 am

We also understand that a lot of people are holding their positions - even after a squeeze - correct? That's what helps these companies moving forward. Let's not pretend that GameStop, Tesla, etc. aren't going to be able to take advantage of their new positions.

I'm going to take my initial investment in GME and immediately buy shares to hold long term, because everything I've heard from Cohen sounds like his guys are going to move GameStop in a very good direction if they can execute it. I'm not going to bet against the guy that took Chewy to compete against Amazon, just like I wouldn't bet against Musk and Tesla.

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Postby willeyeam » Thu Jan 28, 2021 8:30 am

currently robinhood isn't letting you buy GME, NOK, BB, AMC, NAKD.. only sell. This isn't helping that "stick it to the man" mindset that ktk mentions

count2infinity
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Postby count2infinity » Thu Jan 28, 2021 8:31 am

Right... if this legitimately isn't hurting "the man", why take action against it?

MrKennethTKangaroo
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Postby MrKennethTKangaroo » Thu Jan 28, 2021 8:35 am

This is a fantastic ethical question along the lines of "should a bank give a teenage a credit card with a $10,000 limit"

count2infinity
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Postby count2infinity » Thu Jan 28, 2021 8:39 am

Oh... teenagers can sign up for RH? Weird...

NAN
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Postby NAN » Thu Jan 28, 2021 8:44 am

Why do you care so much? I'm confused. Some people will be left holding the bag... that's the nature of the beast. Alot of people are also going to make alot of money in a very short period of time playing the game that wallstreet plays all the time. What's the big deal?
If you want me to be totally honest, your very cavalier attitude is the big deal. Two days ago you didn’t know what margin was, and now you are waxing poetically about the nature of the beast.

This morning on my gf’s facebook feed, there was a friend of ours asking about how to get into robinhood because he needed money. The dude has been out of work during the pandemic and didn’t have two nickels to rub together even before the pandemic, and now he’s got people on facebook telling him about how great it is that robinhood gives you free stock when you sign like, like its a god damn casino handing out $25 of free slot play. But hey, that is the nature of the beast if he puts in a couple hundred bucks and loses them on some stupid wild bet fueled by sentiment on the internet.

In general, 5af is composed of relatively well to do people in their 30s with relatively established families and relatively well established careers. We generally finished school in the middle of the financial crisis. We have all benefited from a decade of good returns on our 401k, largely thanks to the Fed’s never ending stimulus. We all have benefited from mortgages in the 2 or 3% range becuase of the Fed’s never ending stimulus. We have it good right now. Except for a few months back in march (before more never ending stimulus) we got a quick taste of volatility, but that is the only market trouble we have experienced as adults. Volatility sucks, it is dangers, and it can cause serious financial harm to every day people like you and me.

I don’t have a dog in the race. I don’t work in the markets and I no longer dabble in the market like it used to. I’m not a hedge fun fanboy, and I don’t give two shts about them losing money. But i am an avid reader of business news and an avid reader of business history. Bubbles based on no logic are dangerous. Short squeezes are dangerous. They used to be popular when the market was far less regulated and they aren’t as frequent as they used to be. I’m no expert on them, but i know enough to know that they can end badly.
Amen bro.

MrKennethTKangaroo
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Postby MrKennethTKangaroo » Thu Jan 28, 2021 8:45 am

Oh... teenagers can sign up for RH? Weird...
OK since my rhetorical question didn't work, let's put it this way:

RH is doing this to protect people from themselves. As we have discussed, the only way for the price to go up is for more people to pile into the stock. The stock price isn't sustainable now, and for whatever reason, RH drew the line in the sand because it doesn't want any more people to get hurt. I don't know why and I don't care.

I will tip my cap to a you though, for being a free marketer upset at an arbitrary rule by the powers that be in the middle of unprecedented times.

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Postby willeyeam » Thu Jan 28, 2021 8:48 am

Difference being these are adults putting themselves in danger. Which they are free to do imo

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Postby count2infinity » Thu Jan 28, 2021 8:48 am

I get the analogy... monkey a machine gun n'at.

You say they're doing it to protect people... I say they're doing it because they're under pressure from the powers that be. We don't know who is right, and likely never will.

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Postby Trip McNeely » Thu Jan 28, 2021 8:50 am

We also understand that a lot of people are holding their positions - even after a squeeze - correct? That's what helps these companies moving forward. Let's not pretend that GameStop, Tesla, etc. aren't going to be able to take advantage of their new positions.

I'm going to take my initial investment in GME and immediately buy shares to hold long term, because everything I've heard from Cohen sounds like his guys are going to move GameStop in a very good direction if they can execute it. I'm not going to bet against the guy that took Chewy to compete against Amazon, just like I wouldn't bet against Musk and Tesla.
Did you see the new Model S steering wheel?? Yowzers

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Postby NTP66 » Thu Jan 28, 2021 8:52 am

We also understand that a lot of people are holding their positions - even after a squeeze - correct? That's what helps these companies moving forward. Let's not pretend that GameStop, Tesla, etc. aren't going to be able to take advantage of their new positions.

I'm going to take my initial investment in GME and immediately buy shares to hold long term, because everything I've heard from Cohen sounds like his guys are going to move GameStop in a very good direction if they can execute it. I'm not going to bet against the guy that took Chewy to compete against Amazon, just like I wouldn't bet against Musk and Tesla.
Did you see the new Model S steering wheel?? Yowzers
Not gonna lie, that looks pretty damn cool. Especially with the dash behind it like that.

MrKennethTKangaroo
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Postby MrKennethTKangaroo » Thu Jan 28, 2021 8:53 am

I get the analogy... monkey a machine gun n'at.

You say they're doing it to protect people... I say they're doing it because they're under pressure from the powers that be. We don't know who is right, and likely never will.
It is probably both, and that is why this is a fantastic civics lesson for all of us and we should try to apply to other parts of our lives. Regulation is hard.

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