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The Politics Thread

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  • WarChiefZekeWarChiefZeke Member Posts: 2,626
    edited January 28
    Peer beneath the surface for one second and you see nothing but a rigged system everywhere you look. The concept of the accredited investor is another example. They get to engage in all sorts of, frankly, bullshit financial games to enrich themselves that everyone else is barred from.

    What are the requirements to become one? Have a net worth of over a million dollars or have a six figure income. That's literally it. Just lol. No aptitude tests for market knowledge to allow the skilled but poor, no nothing. Just be rich or go to hell. This is just one big game for rich people to print money. This whole system should be dismantled.

    https://www.investopedia.com/terms/a/accreditedinvestor.asp

    semiticgoddess
  • jjstraka34jjstraka34 Member Posts: 9,812
    edited January 28
    Peer beneath the surface for one second and you see nothing but a rigged system everywhere you look. The concept of the accredited investor is another example. They get to engage in all sorts of, frankly, bullshit financial games to enrich themselves that everyone else is barred from.

    What are the requirements to become one? Have a net worth of over a million dollars or have a six figure income. That's literally it. Just lol. No aptitude tests for market knowledge to allow the skilled but poor, no nothing. Just be rich or go to hell. This is just one big game for rich people to print money. This whole system should be dismantled.

    https://www.investopedia.com/terms/a/accreditedinvestor.asp

    Meanwhile the same rule mentioned in this article (Regulation D, and this is in my wheelhouse) prevents normal people who have a bank account from making more than 6 transfers from their savings to their checking account in a calendar month without accruing fees.

    Edit: Nevermind, it appears they are different Regulation Ds entirely.

    WarChiefZeke
  • Balrog99Balrog99 Member Posts: 7,177
    jjstraka34 wrote: »
    Peer beneath the surface for one second and you see nothing but a rigged system everywhere you look. The concept of the accredited investor is another example. They get to engage in all sorts of, frankly, bullshit financial games to enrich themselves that everyone else is barred from.

    What are the requirements to become one? Have a net worth of over a million dollars or have a six figure income. That's literally it. Just lol. No aptitude tests for market knowledge to allow the skilled but poor, no nothing. Just be rich or go to hell. This is just one big game for rich people to print money. This whole system should be dismantled.

    https://www.investopedia.com/terms/a/accreditedinvestor.asp

    Meanwhile the same rule mentioned in this article (Regulation D, and this is in my wheelhouse) prevents normal people who have a bank account from making more than 6 transfers from their savings to their checking account in a calendar month without accruing fees.

    Edit: Nevermind, it appears they are different Regulation Ds entirely.

    Probably figure you're buying drugs with that 💰. The more fees you pay, the less drugs you'll do. It's all for your 'protection'.

  • jjstraka34jjstraka34 Member Posts: 9,812
    edited January 28
    Balrog99 wrote: »
    jjstraka34 wrote: »
    Peer beneath the surface for one second and you see nothing but a rigged system everywhere you look. The concept of the accredited investor is another example. They get to engage in all sorts of, frankly, bullshit financial games to enrich themselves that everyone else is barred from.

    What are the requirements to become one? Have a net worth of over a million dollars or have a six figure income. That's literally it. Just lol. No aptitude tests for market knowledge to allow the skilled but poor, no nothing. Just be rich or go to hell. This is just one big game for rich people to print money. This whole system should be dismantled.

    https://www.investopedia.com/terms/a/accreditedinvestor.asp

    Meanwhile the same rule mentioned in this article (Regulation D, and this is in my wheelhouse) prevents normal people who have a bank account from making more than 6 transfers from their savings to their checking account in a calendar month without accruing fees.

    Edit: Nevermind, it appears they are different Regulation Ds entirely.

    Probably figure you're buying drugs with that 💰. The more fees you pay, the less drugs you'll do. It's all for your 'protection'.

    It actually has something to do with stopping terrorist financing after 9/11. Frankly, a regular savings account will net you about $.03 a year in interest, and it's only useful for purposefully segregating certain money from your other money. If you need to make six transfers a month, you might as well not even have one.

  • DinoDinDinoDin Member Posts: 1,433
    edited January 28


    Generally i despise twitter threads over an article, but I think folks interested in the story should click this. The surge in Gamestop's price does not appear to be the victory for regular people over Wall Street that some people think.

    Key takeaway is that one (relatively) small hedge fund losing is just a bonanza for the large hedge funds. And that high volumes of trades driven by Gamestop mania helps, not hurts, overall Wall Street firm profits. And lasty, the blocking of trading now doesn't protect Wall Street or hedge funds, it protects the individuals who are buying into a stock doomed to sink.

    jjstraka34MichelleGrond0semiticgoddess
  • m7600m7600 Member Posts: 306
    jjstraka34 wrote: »
    On the flip side, this guy has enough money to be paying people to tell him not to go on TV and say shit like this. Yikes:


    Translation:

    1) People getting their checks from the government is BAD, and they should not use that money to dabble in the stock market. If they succeed, it's because they got lucky. If not, then tough luck, they learned their lesson.
    2) Hedge funds getting bailed out by the government is GOOD, and they certainly should use that money to gamble at the stock market. If they succeed, it's because they know what they're doing. If not, then the government bails them out, ad nauseam.

    Yep, makes perfect sense to me. No double standard here, at all.

  • MichelleMichelle Member Posts: 546
    The hedge funds are horrible. Kind of hope they took a beating, but without a peek at their finances, the size of their positions or knowing how much they can leverage I don't know. From a practical standpoint it doesn't matter, not to the individuals purchasing the stock to take them down. Not a good idea that, Here, let me cut off my hand to slap you with. I hope they look into the hedge funds and make changes, it will not however help those that will lose their money. All I said is get out. Now if not sooner.

    Robinhood is not saying that their clients cannot buy the stock, they are saying that they will no longer be the vehicle in which their clients can do so. Nothing wrong with having more than one broker, I use three myself.

    Me personally, I had not had this much fun in the market for a very long time. Possibly I am just a touch mad. Kind of like planning your build in Icewind Dale II, thinking and rethinking it over and over. What levels for which class. Unfortunately Icewind Dale is too linear for my tastes. It had to end though, it is too much like gambling now for my tastes. Made a modest profit for my efforts. Honestly, I love the game and is rare that you find a stock that offers that much fun before the fun is over. By the time any substantial news happens for a stock it is usually too late and I no longer have the desire to endlessly research stocks to find one that offers the most fun. Really the fun I was having with GameStop was already beginning to tarnish when I realized people were not going to stop foolishly pumping money into it. No, I am not a vulture and usually the game is not played with people that don't know the rules. Anyhoo, now everyone knows what I once did to pay the bills. :) When will I ever learn not to overshare? Not today apparently, I suppose that I am hopeless.

    Blame the hedge fund managers, blame the government for letting things like this to continue, blame me, the dabbler that just likes to play the game with as few risks as possible, but Robinhood? Maybe they are not what they seem but to my eye they are not out to screw people over with this, quite the opposite.

    This is a very interesting thing that is happening. If I was not so sure that many will lose money that they can't afford to, it would almost be as good a show as Bridgerton.

    m7600
  • m7600m7600 Member Posts: 306
    No, I am not a vulture and usually the game is not played with people that don't know the rules. Anyhoo, now everyone knows what I once did to pay the bills. :)

    Don't worry, you're not a vulture fund. You'd have to have the lobby power to bully a third world nation into a credit default to qualify as one, among other "pristine" qualities. Just as not everyone is qualified for being an accredited investor, not everyone is qualified for being a vulture fund.

    And yes, the criteria that someone has to meet for being an accredited investor or a vulture fund are nonsensical and barely legal. In part because vulture funds have the lobby power to influence the law-making process.

    WarChiefZeke
  • jjstraka34jjstraka34 Member Posts: 9,812
    edited January 28
    DinoDin wrote: »


    Generally i despise twitter threads over an article, but I think folks interested in the story should click this. The surge in Gamestop's price does not appear to be the victory for regular people over Wall Street that some people think.

    Key takeaway is that one (relatively) small hedge fund losing is just a bonanza for the large hedge funds. And that high volumes of trades driven by Gamestop mania helps, not hurts, overall Wall Street firm profits. And lasty, the blocking of trading now doesn't protect Wall Street or hedge funds, it protects the individuals who are buying into a stock doomed to sink.

    Key point he makes is that Wall Street isn't playing at the casino, they ARE the casino. And the house always wins.

    Absorbing short-term losses for long-term gain is how gambling operates. For instance, assuming you have a player's card, most casinos are MORE than happy to comp you a $120.00 hotel room for a night, or even a whole weekend. Because they know you're going to drop 3-4x that in slots based on your play when you have your card slotted in the machine. But people assume because they get a free buffet voucher and a bed to sleep in, they're being treated like royalty. All they are doing is making sure you don't go home until Monday morning when you have to work.

    DinoDinsmeagolheart
  • Grond0Grond0 Member Posts: 7,004
    In theory large hedge funds should be able to act like the perfect bookmaker - if they organize their trades well they can make money at the margin with zero risk. The problem comes for them when either the firm or someone who works there gets greedy.

    Though I suspect a lot of the people who work in hedge funds actually have the mentality of actuaries, you do get some traders who like the thrill of gambling and are willing to circumvent firm regulations. Nick Leeson is an example of just how serious for a firm open positions can be when those are not properly monitored. I don't of course know at what level the decision to short Gamestop was made, but it wouldn't greatly surprise me if that was at quite a low level on the theory it would be quite easy to drive the company into the ground just by spreading a few rumors. The thought that people might actively work against that probably never entered anyone's mind originally - but I dare say it will in the near future :p.

    @DinoDin is quite right to point out that, far from this being a catastrophe for Wall Street, it's been something of a bonanza recently. However, the windfall does come with some potentially quite nasty risks. One of those is the interest of lawmakers, carrying the possibility of increased regulation. Another is that trading stocks is essentially a zero-sum game (unlike the original issue of shares). While there will be some big winners and the odd big loser, the modal outcome for many thousands of small investors will be to lose a significant portion of their investment. The speed and visibility of that happening seems to me likely to put something of a dampener on the desire of the unsophisticated investor to dabble in the stock market ...

    DinoDin
  • jjstraka34jjstraka34 Member Posts: 9,812
    edited January 28
    There is alot of disinformation going around about right now that is clearly due to ignorance about how all this works. People continue to post screenshots of Robinhood apparently selling shares without consent. But these appear to be something called margin calls, in which people were buying shares on collateral, and Robinhood was simply unwilling to continue letting them do so because of the risk, so they sold off their shares being held. People who do know something about stocks are begging and pleading people to stop saying these things, and they're basically being lost in the sea of emotion.

    People are even repeatedly showing an anonymous, random Reddit post of a "Robin Hood Insider" as proof the White House is collaborating with the trading apps. This is getting pretty stupid pretty fast.

  • WarChiefZekeWarChiefZeke Member Posts: 2,626
    jjstraka34 wrote: »
    There is alot of disinformation going around about right now that is clearly due to ignorance about how all this works. People continue to post screenshots of Robinhood apparently selling shares without consent. But these appear to be something called margin calls, in which people were buying shares on collateral, and Robinhood was simply unwilling to continue letting them do so because of the risk, so they sold off their shares being held. People who do know something about stocks are begging and pleading people to stop saying these things, and they're basically being lost in the sea of emotion.

    People are even repeatedly showing an anonymous, random Reddit post of a "Robin Hood Insider" as proof the White House is collaborating with the trading apps. This is getting pretty stupid pretty fast.

    I'm not saying it's true or not, if it is it is a massive deal, but it's coming from some pretty legit sources and they are saying it's not just the margin calls.

  • jjstraka34jjstraka34 Member Posts: 9,812
    edited January 28
    There is also another issue of people reporting their orders placed last night are being cancelled. But apparently this is ALSO normal if the value of the stock changes more than 5% in the interim. I just caution people to let more information come out here, because I think the vast majority of us are just learning about this stuff in the last 48 hours, and much of Twitter have decided they are now expert financiers.

    But yes, if they are selling shares without consent that are not on the margin, that would appear to be incredibly illegal.

    The question is whether Robin Hood and any other services engaging in these actions are willfully breaking the law in front of everyone, or if the trading freeze and selling are a result of normal warning triggers and margin calls.

  • deltagodeltago Member Posts: 7,809
    I do hope everyone involved sees the bigger picture of what is happening and doesn't let RobinHood become the scapegoat in this entire fiasco, because that is what these hedge fund companies want. If RobinHood, and apps like it, get legislated or fined out of existence because of their role, the average citizen has less options to get into the stock market.

  • jjstraka34jjstraka34 Member Posts: 9,812
    edited January 29
    The stock is already down almost 50% from yesterday, so anyone who got in 24 hours ago (from my limited understanding) would walk away with half of what they put in if they bail immediately. I guess alot of this is maybe people buying a very minimal share that they can afford to lose to send a message, but this is not a sustainable tactic for a group of people who overwhelmingly (I would assume) still have to worry about paying rent each month. I saw a quote from John Maynard Keynes today that was something like "the market can remain irrational much longer than you can remain solvent".

    This is a sexy story for a week, made more titillating because the people behind it are intimately familar with the company involved. Do the tens or hundreds of thousands of people who participated in this on a whim have anywhere near the disposable income to make this a regular thing?? I highly, highly doubt it.

    semiticgoddess
  • DinoDinDinoDin Member Posts: 1,433
    edited January 29
    deltago wrote: »
    I do hope everyone involved sees the bigger picture of what is happening and doesn't let RobinHood become the scapegoat in this entire fiasco, because that is what these hedge fund companies want. If RobinHood, and apps like it, get legislated or fined out of existence because of their role, the average citizen has less options to get into the stock market.

    As the twitter thread I linked to shows, average citizens should be advised against trying to trade on the regular in the stock market. If people learn anything about this, it's that odds are always stacked against amateurs in the stock market. Why wouldn't they be? Average citizens should continue "getting into the stock market" via 401k's, pension funds and other things managed by professionals and not dependent on profiting on the secondary market of shorts and other derivatives (as Grond0 described it above).

    I mean, regular trading by ignorant investors isn't actually a thing we should be encouraging. Investing is different. No more than we should be encouraging people treat serious medical conditions themselves.

    semiticgoddess
  • smeagolheartsmeagolheart Member Posts: 7,963
    jjstraka34 wrote: »
    The stock is already down almost 50% from yesterday, so anyone who got in 24 hours ago (from my limited understanding) would walk away with half of what they put in if they bail immediately. I guess alot of this is maybe people buying a very minimal share that they can afford to lose to send a message, but this is not a sustainable tactic for a group of people who overwhelmingly (I would assume) still have to worry about paying rent each month. I saw a quote from John Maynard Keynes today that was something like "the market can remain irrational much longer than you can remain solvent".

    This is a sexy story for a week, made more titillating because the people behind it are intimately familar with the company involved. Do the tens or hundreds of thousands of people who participated in this on a whim have anywhere near the disposable income to make this a regular thing?? I highly, highly doubt it.

    Its tough to tell but one of the things these hedge funds do is massive sell offs of stock in order to drive the share price down and trigger us average guys to panic sell when the price is low.

    semiticgoddess
  • Grond0Grond0 Member Posts: 7,004
    China has responded quickly to hints of a closer relationship between Taiwan and the new administration in the US - making a blunt statement "We are seriously telling those Taiwan independence forces: those who play with fire will burn themselves, and Taiwan independence means war".

    At the moment that's just a warning shot. However, I think the unusually clear language (by Chinese standards) is a reflection of the strength of their position and relations between China and the US are likely to remain of concern for some time.

    smeagolheartsemiticgoddess
  • smeagolheartsmeagolheart Member Posts: 7,963
    The US really shot itself in the foot. A self inflicted wound on the international stage with the Trump years.

    Those years do not reflect well on the United States. The insane conspiracy mongering lies. The pulling out of treaties. The dirty attacks against allies, the coddling of Russia and other countries whose best interests are not America's best interests. Yeah we've now got fewer friends than we used to thanks to Trump and his isolationism and fickle abd vindictive nature.

    So basically we weakened our own position for nothing and we've left a void for China to fill because of it.

  • WarChiefZekeWarChiefZeke Member Posts: 2,626
    edited January 29
    GME at a whopping 335 as I type this. They did it. They sent it to the moon and kept it there.

    AOC and Tlaib want to investigate the trading apps and Citadel for market manipulation and Elizabeth Warren wants to investigate the Redditors for hurting Citadel. I think we're starting to see the dividing line between who is on the side of the people and who is on the side of the powerful. There is very little grey area here, the Redditors acted within their legal rights whereas there are a few good reasons to believe the institutional traders did not.

    When you have more comments than likes on a Twitter post as Warren does, this is known as a "ratio", and it almost always means your message is unpopular at best.

    semiticgoddess
  • WarChiefZekeWarChiefZeke Member Posts: 2,626
    edited January 29
    Grond0 wrote: »
    China has responded quickly to hints of a closer relationship between Taiwan and the new administration in the US - making a blunt statement "We are seriously telling those Taiwan independence forces: those who play with fire will burn themselves, and Taiwan independence means war".

    At the moment that's just a warning shot. However, I think the unusually clear language (by Chinese standards) is a reflection of the strength of their position and relations between China and the US are likely to remain of concern for some time.

    Strategically there's no good reason to not be bold at the moment. The U.S is incapable of organized efforts against China the way China is against us. Any time Trump tried to act against China's interests he was blown apart by his domestic political enemies over it. One of the consequences of such insane levels of partisanship, turns out you can't unify even when your long term interests are at stake. Even if you disagreed with everything about the trade war it is clear evidence that the U.S will sabotage its own efforts to accomplish things. We're a dysfunctional carnival side show compared to China at the moment and they will blow any long term plans we try to make out of the water. Or rather, we'll do it to ourselves.

    To say nothing about the end of American military dominance.

  • BallpointManBallpointMan Member Posts: 1,631
    GME at a whopping 335 as I type this. They did it. They sent it to the moon and kept it there.

    AOC and Tlaib want to investigate the trading apps and Citadel for market manipulation and Elizabeth Warren wants to investigate the Redditors for hurting Citadel. I think we're starting to see the dividing line between who is on the side of the people and who is on the side of the powerful. There is very little grey area here, the Redditors acted within their legal rights whereas there are a few good reasons to believe the institutional traders did not.

    When you have more comments than likes on a Twitter post as Warren does, this is known as a "ratio", and it almost always means your message is unpopular at best.



    I mean - in literally the tweet before this, she's railing against wall street being used as a casino for the purpose of wealth generation, which overwhelming benefits the rich. The redditors are trying (and are going to fail, unfortunately) to use the 1%'s tools against them. She's against the tool.

    Warren has built a career over fighting for the working class's economics. I dont think she's suddenly and pointlessly turned back on a senate career for a minor hedgefund...

    DinoDinsemiticgoddesssmeagolheart
  • Grond0Grond0 Member Posts: 7,004
    Indeed, she's clearly not supporting the hedge funds in this. The statement referred to in that tweet ends with:
    "With stocks soaring while millions are out of work and struggling to pay bills, it's not news that the stock market doesn't reflect our actual economy. For years, the same hedge funds, private equity firms, and wealthy investors dismayed by the GameStop trades have treated the stock market like their own personal casino while everyone else pays the price. It's long past time for the SEC and other financial regulators to wake up and do their jobs - and with a new administration and Democrats running Congress, I intend to make sure they do."

    DinoDinBallpointMansemiticgoddesssmeagolheart
  • DinoDinDinoDin Member Posts: 1,433
    edited January 29
    The more the story develops and the more I read about it, the more obvious it's become that it's not the David vs Goliath story many people want it to be. To me, it seems like a clever, but typical pump-and-dump scheme. A bunch of clever folks with finance backgrounds (not regular people) saw a weakness in the market and exploited it. To me, it seems that they actually gamed a bunch of message boards and social media sites to invent a cause celebre to make themselves money. The pump-and-dump relies on other retail investors getting in on the stock after them, so they can exit and pocket enormous winnings. The story hit the mainstream news, attracting all kinds of amateur investors and driving the scheme to even greater heights.

    But regular people are not winning here. Convincing amateurs to get into day trading isn't smart. The driving up of Gamestop based on no real facts isn't good for the economy. And imo some people on the left, including some politicians I respected, have really shown their ignorance here. Talking about paving the way for fewer regulations so retail investors can enter the market more easily, and lose their money more easily, is not fighting for the people. It's akin to advocating for greater access to payday loans.

    Spiking the football about Gamestop's price, less than a week into this, just shows an elementary lack of understanding about investment and Wall Street. Moreover it's celebrating the aspect of the market we should be trying to neuter! The giant irony of this, to me, is that the initial problem being decried -- "shorting" -- has been made worse. Gamestop is now teed up for an even larger short by the big Wall Street firms, one that will end with a bonanza for the very people this is all ostensibly about screwing over. Monumentally short-sighted.

    Edit to add a reference: "A YouTube streamer who helped drive a surge in the shares of GameStop Corp is a 34-year-old financial advisor from Massachusetts and until recently worked for insurance giant MassMutual, public records and social media posts show." https://www.reuters.com/article/retail-trading-roaringkitty/famed-gamestop-bull-roaring-kitty-is-a-massachusetts-financial-advisor-idUSL4N2K35HY These are not average joes. These are people indistinguishable from hedge fund employees.

    Post edited by DinoDin on
    BallpointManGrond0semiticgoddessjjstraka34
  • jjstraka34jjstraka34 Member Posts: 9,812
    edited January 29
    This story is running almost entirely on emotion. There are elements on the right and left who frame every single story through the lens of being screwed or fighting back against "the elites" as a very, very vague concept. Trump getting elected is a message to the elites. The storming of the Capitol should be a wake-up call to the elites. Driving up Gamestop shares is a message to the elites. That unseen forces are controlling every aspect of your life, and that a reckoning is imminent.

    If I had a nickel for every person on Twitter who said "this changes everything", well, I wouldn't have to invest in the stock market, that's for sure. Does it?? What is the practical outcome 3 or 4 months down the line?? Instead of calling for an effort to regulate derivatives (like Warren) the push from many on all sides seems to be to encourage as many people as possible to get involved in them. I appreciate the Payday loans analogy. Again, I don't like talking specifically about work on a public forum, but what I can tell you is that your average person does not understand even their OWN finances on a basic level. Trust me on this.

    Most people are so happy to be able to get the money in the moment in regards to a payday loan, that they don't pay any attention to, or at least don't consider, the terms. But in two weeks (in some cases), you have to pay $1250.00 back on the $1000.00 you borrowed, which is 25% interest over a 14 day period. If you miss that payment, you might as well be dealing with mafia loansharks without the broken kneecaps, as you will almost CERTAINLY end up even more broke than you were before getting the loan. And if they have access to your checking account to automatically withdraw because you gave it to them in advance?? Death spiral for your income unless you somehow found a better job in the meantime.

    Granted, the people on the financial networks saying "average people should not get involved with this for their own good" are obviously concern-trolling on behalf of their Wall Street buddies (there isn't a more ridiculously one-sided press than the financial press, it's pretty obscene). But I don't think anyone here is.

    Post edited by jjstraka34 on
    DinoDinsmeagolheartGrond0semiticgoddess
  • MichelleMichelle Member Posts: 546
    I know what everyone is saying but, OMG this is exciting! It is the most fascinating thing I have seen in a long time. No one can predict what will happen now and it is freaking them out. As JJ pointed out yesterday we can’t expect these people to do this over and over again so it won’t keep happening, but wow am I enjoying this. Sucks that people are actually giving money away to do this and I hate that but this is fun to watch. Had 2 phone calls today from people that I hadn’t talked to in 15+ years, both were totally geeking out. I feel bad about this but we are all in agreement, this is the biggest single event that has happened that we can remember. Funny that we all got out yesterday and are still enjoying it this much. Well, I didn’t quite get out completely. I got out of my short position, made a decent profit if nowhere near obscene. I had a long put in to offset the short and hadn’t canceled it because I did not expect the stock to go above my put. It did today, I immediately got out but lost a little on that anyway. Stinks when the bad thing happens and you get in right away but when you want to get out it takes forever to get rid of it. Oh well, it was not a big loss and my gains from yesterday more than made up for it. My fault for being so involved with what is happening with GME that I ignore what I know I should do because I want to see what happens. No place for emotions in trading.

    No, the ordinary guy can’t win here. The original hedge fund/funds that shorted the stock is more than likely bleeding out right now, the only thing the ordinary guy can do at this point is lose their money. The big hedge funds can afford to be patient. The thing that has my friends and I so excited is, what if? What if the ordinary guy just holds on to their stock that has no actual value, what happens then? A short is still a short, for them to make a profit on it they still have to be selling stocks that they do not own, what do they do when those are called? Do they just accept the loss and let the little guy hold onto a worthless stock? Their positions are much, much, much bigger than mine was, no way they could be doing what I was doing there is not enough stock to hedge shorts of that size. So... what happens then? We all still believe it will come crashing down, the biggies get their payday and the ordinary people lose their money. What if though?

    Absolutely fascinating! Glad I am out though.

    DinoDin
  • jjstraka34jjstraka34 Member Posts: 9,812
    edited January 29
    I mean, I'm no expert, but for this to go on indefinitely it seems to me most everyone who got in on this in the last 72 hours is just going to have to be willing to throw away $250-$1000 to make a point. So, maybe they can do that, this one time. Assuming they are able to keep everyone laser focused and in pocket. I see alot of "hold the line" talk on Twitter and Youtube almost as if they are Leonidas bracing for Xeres' army.

  • MichelleMichelle Member Posts: 546
    This changes nothing in my opinion. The best to be hoped for is regulation.

    Their money is already gone, no one who knows anything is going to buy the inflated stock of a lagging company. Some other idealist might buy their stock but that is just changing the person that eats the loss, not the loss itself. Maybe, not likely but maybe, the big hedge funds take their loss and walk away, but everyone owning the stock is still left with a handful of pennies that they paid $10 a piece for.

    They won’t do this again I am guessing.

    semiticgoddess
  • deltagodeltago Member Posts: 7,809
    Well here is a feel good story:
    https://globalnews.ca/news/7607298/boy-gamestop-shares-reddit-texas/amp/

    Investing in Roblox though... this kid is smart.

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