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  • static111
    static111 Posts: 5,076
    From Vanity Fair

     “the hedge fund managers are pissed and when they get pissed they rip out their Bloomberg terminals and throw them through the wall of their $27 million penthouses and then yell for their maids to come clean everything up and also to make them a sandwich. Alternatively, they go on CNBC to complain that this is bullshit and unfair and not the way any of this is supposed to work. Hedge fund billionaire Leon Cooperman happens to know what we’re talking about:

    “The reason the market is doing what it’s doing is people are sitting at home getting their checks from the government, okay, and this fair share is a bullshit concept,” Cooperman shouted on the business network earlier today. “It’s just a way of attacking wealthy people. It’s inappropriate and we all gotta work together and pull together.”

    While Cooperman does not appear to have been affected by the GameStop carnage, at least in a meaningful way, he’s basically the perfect person to show up on TV and scream about how wealthy people are being attacked. If you’re unfamiliar with the guy, he’s long been known for going apeshit when people suggest that the über-wealthy aren’t paying their fair share, or when politicians express anything less than total respect for the “job creators” of the world. During the Obama years, he claimed that the 44th president’s decision to call Wall Street executives “fat cat bankers” right after the financial crisis was encouraging “class warfare” and that Obama’s “tone” was “cleaving a widening gulf…between the downtrodden and those best positioned to help them,” i.e. the benevolent rich. During the 2020 Democratic primary, he sparred with Elizabeth Warren over her supposedly “shitting on” the American dream and for being mean to the 0.000001%. And after the Democratic primary race came down to Joe Biden and Bernie Sanders, he claimed that Sanders was “a bigger threat [to the stock market] than the coronavirus.” Yes, the coronavirus. (Later, he went on CNBC and cried, claiming he’d been so antagonistic about 2020 because he cares so much about America.)

    Anyway, Cooperman predicts this will “end in tears,” though if you’ve got silk tissues to wipe your nose with and a yacht on which to rest your weary head, you’ll probably end up fine.“


    Cry me a river.  Why shouldn’t the masses be able to coordinate and game the market to their benefit.  I can’t think of any reason why not.  Calling it herd mentality or populism is also bs in my opinion...what makes it so..social media, organized like minded people, by that coin, the union movement and the movement for black lives are just populism and herd mentality.  

    I think this is very inspiring and I would like to see activists get together and leverage a little bit of money millions chipping in $2 - $27 and use market manipulation as a form of societal reorganization.  It could be used just like boycotts.  Don’t like nestle? Find some floundering subsidiaries jack them up and cash them out raise more capital and keep moving up to leverage against the bigger fish. This has potential to really destabilize and potentially even the playing field a bit more for the rest of us.

    Scio me nihil scire

    There are no kings inside the gates of eden
  • mrussel1
    mrussel1 Posts: 30,879
    ^ You're missing the broader point.  I assume the last two paragraphs are your thoughts and not VF's, so correct me if I'm wrong.  You are writing like this is some revolutionary issue on class warfare.  It's not.  Just because hedge fund managers lose some money doesn't mean average Joe benefits.  At the end of the day, real people are buying real stocks in a real company that is in a death spiral and has a failing business model.  Where's the nobility in that?  Continuing with my analogy earlier, these dipshits followed Trump to the Capitol, broke in, hurt some people, but now what?  What do they do now?  They own worthless, shitty stock.  Some victory.  
  • mrussel1
    mrussel1 Posts: 30,879
    nicknyr15 said:
    mrussel1 said:


    Look at this shit.  EPS of -4.22, 1 year target of $12.  And it's up $72 in after hours trading.  The range for the day is $112-$483.  
    All of that means nothing. Day traders make money on emotion. 
    I don't know what that means, but are you ready to buy Gamestop at $193 at a negative EPS?
  • nicknyr15
    nicknyr15 Posts: 9,220
    mrussel1 said:
    nicknyr15 said:
    mrussel1 said:


    Look at this shit.  EPS of -4.22, 1 year target of $12.  And it's up $72 in after hours trading.  The range for the day is $112-$483.  
    All of that means nothing. Day traders make money on emotion. 
    I don't know what that means, but are you ready to buy Gamestop at $193 at a negative EPS?
    As a day trader I’d say yes. EPS means nothing. As an investment , hell no. 
  • static111
    static111 Posts: 5,076
    mrussel1 said:
    ^ You're missing the broader point.  I assume the last two paragraphs are your thoughts and not VF's, so correct me if I'm wrong.  You are writing like this is some revolutionary issue on class warfare.  It's not.  Just because hedge fund managers lose some money doesn't mean average Joe benefits.  At the end of the day, real people are buying real stocks in a real company that is in a death spiral and has a failing business model.  Where's the nobility in that?  Continuing with my analogy earlier, these dipshits followed Trump to the Capitol, broke in, hurt some people, but now what?  What do they do now?  They own worthless, shitty stock.  Some victory.  
    These are the same people that broke into the capitol? Or you mean they are swept up in this like Trumpers?  The broader point to me is this might be a few dopes, but if people organized their collective pithy amounts of wealth in a concerted way we could potentially destabilize the market in favor of the little guy.  So some people are gonna get swept up and lose big and some average people are gonna lose small and some average people are gonna actually win big. How is this any different than the current model?  80% of stocks in this country are owned by the wealthiest 10%...that’s called hoarding and it needs to change.

    yes everything after t he quotes are my thoughts.

    sure this instance specifically is bonkers, but it to me shows how ridiculous the sandcastle called the stock market is and additionally brings to light how these practices could potentially be used through collective action to make positive social change and potentially redistribute some of the hoarded wealth.  

    Imagine an MLK, Cesar Chavez, Eugene Debs type getting behind and organizing a movement for the people to take over the stock market on their terms or at least use it as a means of wealth redistribution.  

    I honestly don’t see a down side to this, but then again I’m not part of the stick holding class, I’m just an elder millennial that is already trying to ruin the economy by not buying diamonds or purchasing over valued real estate while I eat my avocado toast and day drink on the weekends and spend too much money on vinyl!
    Scio me nihil scire

    There are no kings inside the gates of eden
  • mrussel1
    mrussel1 Posts: 30,879
    static111 said:
    mrussel1 said:
    ^ You're missing the broader point.  I assume the last two paragraphs are your thoughts and not VF's, so correct me if I'm wrong.  You are writing like this is some revolutionary issue on class warfare.  It's not.  Just because hedge fund managers lose some money doesn't mean average Joe benefits.  At the end of the day, real people are buying real stocks in a real company that is in a death spiral and has a failing business model.  Where's the nobility in that?  Continuing with my analogy earlier, these dipshits followed Trump to the Capitol, broke in, hurt some people, but now what?  What do they do now?  They own worthless, shitty stock.  Some victory.  
    These are the same people that broke into the capitol? Or you mean they are swept up in this like Trumpers?  The broader point to me is this might be a few dopes, but if people organized their collective pithy amounts of wealth in a concerted way we could potentially destabilize the market in favor of the little guy.  So some people are gonna get swept up and lose big and some average people are gonna lose small and some average people are gonna actually win big. How is this any different than the current model?  80% of stocks in this country are owned by the wealthiest 10%...that’s called hoarding and it needs to change.

    yes everything after t he quotes are my thoughts.

    sure this instance specifically is bonkers, but it to me shows how ridiculous the sandcastle called the stock market is and additionally brings to light how these practices could potentially be used through collective action to make positive social change and potentially redistribute some of the hoarded wealth.  

    Imagine an MLK, Cesar Chavez, Eugene Debs type getting behind and organizing a movement for the people to take over the stock market on their terms or at least use it as a means of wealth redistribution.  

    I honestly don’t see a down side to this, but then again I’m not part of the stick holding class, I’m just an elder millennial that is already trying to ruin the economy by not buying diamonds or purchasing over valued real estate while I eat my avocado toast and day drink on the weekends and spend too much money on vinyl!
    Take over the stock market on their terms?  While the wealthiest own the most, the amount of wealth connected to 401ks, pension funds, and other managed assets are astronomical and would have a enormously negative impact on millions of average Americans.  And to what end?  The market, like our democracy, is absolutely fragile and it's built on trust and belief in the value of the assets.  My retirement is pinned to that and so are the retirements of many people that you work with, neighbors and fellow members of the PJ board.  Sure they're not super rich, but it's still their nest egg. 
    And yes, my analogy was about the retail investors on WSB getting swept up into the madness.  Trump didn't storm the Capitol and I guarantee most of the people that started this madness have cashed out long ago.  
    Collective purchasing of a shitty stock does not make that company more profitable.  I'm sorry it's simply not part of a broader narrative.  That's people trying to stretch what is really happening. The price of a share is indicative of its perceived value.  These shitty companies (GME, Blackberry, AMC) still have a shitty business plan and a shitty outlook.  
  • static111
    static111 Posts: 5,076
    mrussel1 said:
    static111 said:
    mrussel1 said:
    ^ You're missing the broader point.  I assume the last two paragraphs are your thoughts and not VF's, so correct me if I'm wrong.  You are writing like this is some revolutionary issue on class warfare.  It's not.  Just because hedge fund managers lose some money doesn't mean average Joe benefits.  At the end of the day, real people are buying real stocks in a real company that is in a death spiral and has a failing business model.  Where's the nobility in that?  Continuing with my analogy earlier, these dipshits followed Trump to the Capitol, broke in, hurt some people, but now what?  What do they do now?  They own worthless, shitty stock.  Some victory.  
    These are the same people that broke into the capitol? Or you mean they are swept up in this like Trumpers?  The broader point to me is this might be a few dopes, but if people organized their collective pithy amounts of wealth in a concerted way we could potentially destabilize the market in favor of the little guy.  So some people are gonna get swept up and lose big and some average people are gonna lose small and some average people are gonna actually win big. How is this any different than the current model?  80% of stocks in this country are owned by the wealthiest 10%...that’s called hoarding and it needs to change.

    yes everything after t he quotes are my thoughts.

    sure this instance specifically is bonkers, but it to me shows how ridiculous the sandcastle called the stock market is and additionally brings to light how these practices could potentially be used through collective action to make positive social change and potentially redistribute some of the hoarded wealth.  

    Imagine an MLK, Cesar Chavez, Eugene Debs type getting behind and organizing a movement for the people to take over the stock market on their terms or at least use it as a means of wealth redistribution.  

    I honestly don’t see a down side to this, but then again I’m not part of the stick holding class, I’m just an elder millennial that is already trying to ruin the economy by not buying diamonds or purchasing over valued real estate while I eat my avocado toast and day drink on the weekends and spend too much money on vinyl!
    Take over the stock market on their terms?  While the wealthiest own the most, the amount of wealth connected to 401ks, pension funds, and other managed assets are astronomical and would have a enormously negative impact on millions of average Americans.  And to what end?  The market, like our democracy, is absolutely fragile and it's built on trust and belief in the value of the assets.  My retirement is pinned to that and so are the retirements of many people that you work with, neighbors and fellow members of the PJ board.  Sure they're not super rich, but it's still their nest egg. 
    And yes, my analogy was about the retail investors on WSB getting swept up into the madness.  Trump didn't storm the Capitol and I guarantee most of the people that started this madness have cashed out long ago.  
    Collective purchasing of a shitty stock does not make that company more profitable.  I'm sorry it's simply not part of a broader narrative.  That's people trying to stretch what is really happening. The price of a share is indicative of its perceived value.  These shitty companies (GME, Blackberry, AMC) still have a shitty business plan and a shitty outlook.  
    When has the stock market been about making a company more profitable?  Isn’t the whole point to use it as a tool for financial gain?  I’m all for people being able to do this, and I think it would be interesting to see what happens when some people with actual brains and motives put it to use.  The whole thing is based on funny money, if people are putting their faith in stockmarketeers and trust in megaconglomos and the inflated valuation of their assets that’s on them especially if the system is so fragile a bunch of maroons on Reddit can game it.
    Scio me nihil scire

    There are no kings inside the gates of eden
  • mrussel1
    mrussel1 Posts: 30,879
    static111 said:
    mrussel1 said:
    static111 said:
    mrussel1 said:
    ^ You're missing the broader point.  I assume the last two paragraphs are your thoughts and not VF's, so correct me if I'm wrong.  You are writing like this is some revolutionary issue on class warfare.  It's not.  Just because hedge fund managers lose some money doesn't mean average Joe benefits.  At the end of the day, real people are buying real stocks in a real company that is in a death spiral and has a failing business model.  Where's the nobility in that?  Continuing with my analogy earlier, these dipshits followed Trump to the Capitol, broke in, hurt some people, but now what?  What do they do now?  They own worthless, shitty stock.  Some victory.  
    These are the same people that broke into the capitol? Or you mean they are swept up in this like Trumpers?  The broader point to me is this might be a few dopes, but if people organized their collective pithy amounts of wealth in a concerted way we could potentially destabilize the market in favor of the little guy.  So some people are gonna get swept up and lose big and some average people are gonna lose small and some average people are gonna actually win big. How is this any different than the current model?  80% of stocks in this country are owned by the wealthiest 10%...that’s called hoarding and it needs to change.

    yes everything after t he quotes are my thoughts.

    sure this instance specifically is bonkers, but it to me shows how ridiculous the sandcastle called the stock market is and additionally brings to light how these practices could potentially be used through collective action to make positive social change and potentially redistribute some of the hoarded wealth.  

    Imagine an MLK, Cesar Chavez, Eugene Debs type getting behind and organizing a movement for the people to take over the stock market on their terms or at least use it as a means of wealth redistribution.  

    I honestly don’t see a down side to this, but then again I’m not part of the stick holding class, I’m just an elder millennial that is already trying to ruin the economy by not buying diamonds or purchasing over valued real estate while I eat my avocado toast and day drink on the weekends and spend too much money on vinyl!
    Take over the stock market on their terms?  While the wealthiest own the most, the amount of wealth connected to 401ks, pension funds, and other managed assets are astronomical and would have a enormously negative impact on millions of average Americans.  And to what end?  The market, like our democracy, is absolutely fragile and it's built on trust and belief in the value of the assets.  My retirement is pinned to that and so are the retirements of many people that you work with, neighbors and fellow members of the PJ board.  Sure they're not super rich, but it's still their nest egg. 
    And yes, my analogy was about the retail investors on WSB getting swept up into the madness.  Trump didn't storm the Capitol and I guarantee most of the people that started this madness have cashed out long ago.  
    Collective purchasing of a shitty stock does not make that company more profitable.  I'm sorry it's simply not part of a broader narrative.  That's people trying to stretch what is really happening. The price of a share is indicative of its perceived value.  These shitty companies (GME, Blackberry, AMC) still have a shitty business plan and a shitty outlook.  
    When has the stock market been about making a company more profitable?  Isn’t the whole point to use it as a tool for financial gain?  I’m all for people being able to do this, and I think it would be interesting to see what happens when some people with actual brains and motives put it to use.  The whole thing is based on funny money, if people are putting their faith in stockmarketeers and trust in megaconglomos and the inflated valuation of their assets that’s on them especially if the system is so fragile a bunch of maroons on Reddit can game it.
    No it's not funny money.  A stock price is a reflection of the value of the company,  specifically the future value.  Amazon trades for so much because its profits are high, revenue has a strong growth trajectory and a management team that investors believe in. And an investor only recognizes that value when they sell,  a dividend is paid or the company is sold at a price higher than what they paid.  That's why this is all so foolish.  GME is fundamentally a dying company. It doesn't matter how high the price rises,  the outlook is the same.  So some of these Robin hood investors are going to lose their shirts. 

    Keep in mind,  what I'm talking about is not the same thing that the Hill is talking about.  They're all mad because RH halted trading while institutional investors continued.  That's a different issue.  I think all trading on the stock could have been stopped,  defensibly.  Or everyone keeps trading. The bubble will burst though. 
  • mrussel1
    mrussel1 Posts: 30,879
    I recant my statement above about RH continuing to allow trading.  I didn’t realize they did margin lending.  The pace of trading made it impossible for them to do their margin calls which was inevitable.  That would have accelerated the bubble burst and likely bankrupted RH.  Maybe it violates their terms of service and they are open to class action (doubtful because I’m sure they have arbitration only terms which prohibits class action), but regardless of whether it’s fair or not, it’s a no brainer to stop trading if it’s likely to bankrupt your company. Fuck AOC and Ted Cruz who likely have no clue about the margin lending that enabled these traders to buy up the volume they did. 
  • static111
    static111 Posts: 5,076
    edited January 2021
    mrussel1 said:
    static111 said:
    mrussel1 said:
    static111 said:
    mrussel1 said:
    ^ You're missing the broader point.  I assume the last two paragraphs are your thoughts and not VF's, so correct me if I'm wrong.  You are writing like this is some revolutionary issue on class warfare.  It's not.  Just because hedge fund managers lose some money doesn't mean average Joe benefits.  At the end of the day, real people are buying real stocks in a real company that is in a death spiral and has a failing business model.  Where's the nobility in that?  Continuing with my analogy earlier, these dipshits followed Trump to the Capitol, broke in, hurt some people, but now what?  What do they do now?  They own worthless, shitty stock.  Some victory.  
    These are the same people that broke into the capitol? Or you mean they are swept up in this like Trumpers?  The broader point to me is this might be a few dopes, but if people organized their collective pithy amounts of wealth in a concerted way we could potentially destabilize the market in favor of the little guy.  So some people are gonna get swept up and lose big and some average people are gonna lose small and some average people are gonna actually win big. How is this any different than the current model?  80% of stocks in this country are owned by the wealthiest 10%...that’s called hoarding and it needs to change.

    yes everything after t he quotes are my thoughts.

    sure this instance specifically is bonkers, but it to me shows how ridiculous the sandcastle called the stock market is and additionally brings to light how these practices could potentially be used through collective action to make positive social change and potentially redistribute some of the hoarded wealth.  

    Imagine an MLK, Cesar Chavez, Eugene Debs type getting behind and organizing a movement for the people to take over the stock market on their terms or at least use it as a means of wealth redistribution.  

    I honestly don’t see a down side to this, but then again I’m not part of the stick holding class, I’m just an elder millennial that is already trying to ruin the economy by not buying diamonds or purchasing over valued real estate while I eat my avocado toast and day drink on the weekends and spend too much money on vinyl!
    Take over the stock market on their terms?  While the wealthiest own the most, the amount of wealth connected to 401ks, pension funds, and other managed assets are astronomical and would have a enormously negative impact on millions of average Americans.  And to what end?  The market, like our democracy, is absolutely fragile and it's built on trust and belief in the value of the assets.  My retirement is pinned to that and so are the retirements of many people that you work with, neighbors and fellow members of the PJ board.  Sure they're not super rich, but it's still their nest egg. 
    And yes, my analogy was about the retail investors on WSB getting swept up into the madness.  Trump didn't storm the Capitol and I guarantee most of the people that started this madness have cashed out long ago.  
    Collective purchasing of a shitty stock does not make that company more profitable.  I'm sorry it's simply not part of a broader narrative.  That's people trying to stretch what is really happening. The price of a share is indicative of its perceived value.  These shitty companies (GME, Blackberry, AMC) still have a shitty business plan and a shitty outlook.  
    When has the stock market been about making a company more profitable?  Isn’t the whole point to use it as a tool for financial gain?  I’m all for people being able to do this, and I think it would be interesting to see what happens when some people with actual brains and motives put it to use.  The whole thing is based on funny money, if people are putting their faith in stockmarketeers and trust in megaconglomos and the inflated valuation of their assets that’s on them especially if the system is so fragile a bunch of maroons on Reddit can game it.
    No it's not funny money.  A stock price is a reflection of the value of the company,  specifically the future value.  Amazon trades for so much because its profits are high, revenue has a strong growth trajectory and a management team that investors believe in. And an investor only recognizes that value when they sell,  a dividend is paid or the company is sold at a price higher than what they paid.  That's why this is all so foolish.  GME is fundamentally a dying company. It doesn't matter how high the price rises,  the outlook is the same.  So some of these Robin hood investors are going to lose their shirts. 

    Keep in mind,  what I'm talking about is not the same thing that the Hill is talking about.  They're all mad because RH halted trading while institutional investors continued.  That's a different issue.  I think all trading on the stock could have been stopped,  defensibly.  Or everyone keeps trading. The bubble will burst though. 
    Amazon makes money because of tax breaks and horrible business practices.  If you feel like that is good economics that’s great, I don’t. Many others don’t as well.  
    As far as the GME my understanding is that millions of people were buying in basically pretty cheap maybe a few hundred and weren’t planning on getting rich but just upsetting the balance, if that’s the case mission accomplished. If people are foolish enough to spend $400 on a single GME stock well they are morons.  I’m not sure people are understanding that this was partially motivated by sticking it to the man..that’s the part that I think is beautiful.

    not sure what margin lending is.


    Post edited by static111 on
    Scio me nihil scire

    There are no kings inside the gates of eden
  • rgambs
    rgambs Posts: 13,576
    Why not put a stop to the lending that drives short selling altogether?  Does it really serve a purpose that needs to be maintained?  It only seems like an open door to chicanery to me, but I'm more of a farmer's market guy than a stock market guy.
    Monkey Driven, Call this Living?
  • rgambs
    rgambs Posts: 13,576
    mrussel1 said:
    static111 said:
    mrussel1 said:
    static111 said:
    mrussel1 said:
    ^ You're missing the broader point.  I assume the last two paragraphs are your thoughts and not VF's, so correct me if I'm wrong.  You are writing like this is some revolutionary issue on class warfare.  It's not.  Just because hedge fund managers lose some money doesn't mean average Joe benefits.  At the end of the day, real people are buying real stocks in a real company that is in a death spiral and has a failing business model.  Where's the nobility in that?  Continuing with my analogy earlier, these dipshits followed Trump to the Capitol, broke in, hurt some people, but now what?  What do they do now?  They own worthless, shitty stock.  Some victory.  
    These are the same people that broke into the capitol? Or you mean they are swept up in this like Trumpers?  The broader point to me is this might be a few dopes, but if people organized their collective pithy amounts of wealth in a concerted way we could potentially destabilize the market in favor of the little guy.  So some people are gonna get swept up and lose big and some average people are gonna lose small and some average people are gonna actually win big. How is this any different than the current model?  80% of stocks in this country are owned by the wealthiest 10%...that’s called hoarding and it needs to change.

    yes everything after t he quotes are my thoughts.

    sure this instance specifically is bonkers, but it to me shows how ridiculous the sandcastle called the stock market is and additionally brings to light how these practices could potentially be used through collective action to make positive social change and potentially redistribute some of the hoarded wealth.  

    Imagine an MLK, Cesar Chavez, Eugene Debs type getting behind and organizing a movement for the people to take over the stock market on their terms or at least use it as a means of wealth redistribution.  

    I honestly don’t see a down side to this, but then again I’m not part of the stick holding class, I’m just an elder millennial that is already trying to ruin the economy by not buying diamonds or purchasing over valued real estate while I eat my avocado toast and day drink on the weekends and spend too much money on vinyl!
    Take over the stock market on their terms?  While the wealthiest own the most, the amount of wealth connected to 401ks, pension funds, and other managed assets are astronomical and would have a enormously negative impact on millions of average Americans.  And to what end?  The market, like our democracy, is absolutely fragile and it's built on trust and belief in the value of the assets.  My retirement is pinned to that and so are the retirements of many people that you work with, neighbors and fellow members of the PJ board.  Sure they're not super rich, but it's still their nest egg. 
    And yes, my analogy was about the retail investors on WSB getting swept up into the madness.  Trump didn't storm the Capitol and I guarantee most of the people that started this madness have cashed out long ago.  
    Collective purchasing of a shitty stock does not make that company more profitable.  I'm sorry it's simply not part of a broader narrative.  That's people trying to stretch what is really happening. The price of a share is indicative of its perceived value.  These shitty companies (GME, Blackberry, AMC) still have a shitty business plan and a shitty outlook.  
    When has the stock market been about making a company more profitable?  Isn’t the whole point to use it as a tool for financial gain?  I’m all for people being able to do this, and I think it would be interesting to see what happens when some people with actual brains and motives put it to use.  The whole thing is based on funny money, if people are putting their faith in stockmarketeers and trust in megaconglomos and the inflated valuation of their assets that’s on them especially if the system is so fragile a bunch of maroons on Reddit can game it.
    No it's not funny money.  A stock price is a reflection of the value of the company,  specifically the future value.  Amazon trades for so much because its profits are high, revenue has a strong growth trajectory and a management team that investors believe in. And an investor only recognizes that value when they sell,  a dividend is paid or the company is sold at a price higher than what they paid.  That's why this is all so foolish.  GME is fundamentally a dying company. It doesn't matter how high the price rises,  the outlook is the same.  So some of these Robin hood investors are going to lose their shirts. 

    Keep in mind,  what I'm talking about is not the same thing that the Hill is talking about.  They're all mad because RH halted trading while institutional investors continued.  That's a different issue.  I think all trading on the stock could have been stopped,  defensibly.  Or everyone keeps trading. The bubble will burst though. 
    Only the dumbest ones lol
    Isn't the bulk of the price increase caused by the squeeze, by the short sellers being forced to cover their bad bet?
    Monkey Driven, Call this Living?
  • static111
    static111 Posts: 5,076
    rgambs said:
    Why not put a stop to the lending that drives short selling altogether?  Does it really serve a purpose that needs to be maintained?  It only seems like an open door to chicanery to me, but I'm more of a farmer's market guy than a stock market guy.
    That actually sounds like a good idea.
    Scio me nihil scire

    There are no kings inside the gates of eden
  • static111
    static111 Posts: 5,076
    Because @mrussel1 lives for stonks market memes
    Scio me nihil scire

    There are no kings inside the gates of eden
  • jerparker20
    jerparker20 St. Paul, MN Posts: 2,529
    edited January 2021
    My perspective on this whole thing changed yesterday. I think I mention earlier in the thread that I have a Robinhood account that I use as a way to make some investment. It’s not my only one, but whatever. Wednesday afternoon I decided to throw a few dollars into the craze. I purchase a few shares of GameStop, AMC, and Nokia. I dumped the Nokia later that afternoon and pocketed around $50 in profit. No big deal. I decided to let the others ride to sell on Thursday. 

    Thursday. Robinhood was complete shit in the morning prior to the open. Wouldn’t load, things of that nature. I figured due to demand. Around 9am, I decided to dump my AMC shares. Would have netted a $100 profit. Big money! I placed the sell order. Usual it’s instant, but this order went into pending status. Around the same time Robinhood suspend people from purchasing the meme stocks and others, you could only sell those shares. I think you can see the problem. My sell order for AMC sat for almost an hour. I went from looking at a modest gain of $100 to a loss of $12. Mean while, institution trades and a few retail brokers had free reign to buy and sell this stocks. Basically, many retail brokerage firms locked out a huge amount of people from participating in a capitalist, free market while others were able to do as they wished. There was sorts of shady shit happening.

    Then the Street and and Robinhood CEO start flapping their lips about how they halted all of this to “protect” individuals. That the people participating in this don’t realize what they are doing, they’re gambling, blah, blah...

    Since when is it their duty to tell people what to do with their money? Were they this concerned during the run-up to the 2008 crash? Are some people going to loss some money, yup. I’ve never heard these folks speak up or act to prevent people from buying lotto tickets, going to a casino, or gambling on sports. Their just pissed they and their greedy friends had the tables turned and some are getting cleaned. Case in point, watch that fucker Leon Cooperman’s interview from yesterday. He’s so up-and-up that he plead guilty to insider training.

    I’m all for the long term investments that russel talks about. Smart investments in index funds, blue chips, so on. That’s what I do. Everyone should have the same access to invest if they chose to do so. Whether it’s $100k or $5. But if I or others want to “play the market” like the hedge funds, short sellers, and those that attend “idea dinners,” those who we are told are “savvy investors” then we should be able to. If they lose, good. If I, or others lose, well that’s the breaks. The problem is they don’t like eating a shovel full shit once in a while. Change the regs to level the field. Fuck them.

    Im also closing my Robinhood account and headed over to fidelity after the GameStop fiasco ends.
    Post edited by jerparker20 on
  • nicknyr15
    nicknyr15 Posts: 9,220
    jerparker20 said:
    My perspective on this whole thing changed yesterday. I think I mention earlier in the thread that I have a Robinhood account that I use as a way to make some investment. It’s not my only one, but whatever. Wednesday afternoon I decided to throw a few dollars into the craze. I purchase a few shares of GameStop, AMC, and Nokia. I dumped the Nokia later that afternoon and pocketed around $50 in profit. No big deal. I decided to let the others ride to sell on Thursday. 

    Thursday. Robinhood was complete shit in the morning prior to the open. Wouldn’t load, things of that nature. I figured due to demand. Around 9am, I decided to dump my AMC shares. Would have netted a $100 profit. Big money! I placed the sell order. Usual it’s instant, but this order went into pending status. Around the same time Robinhood suspend people from purchasing the meme stocks and others, you could only sell those shares. I think you can see the problem. My sell order for AMC sat for almost an hour. I went from looking at a modest gain of $100 to a loss of $12. Mean while, institution trades and a few retail brokers had free reign to buy and sell this stocks. Basically, many retail brokerage firms locked out a huge amount of people from participating in a capitalist, free market while others were able to do as they wished. There was sorts of shady shit happening.

    Then the Street and and Robinhood CEO start flapping their lips about how they halted all of this to “protect” individuals. That the people participating in this don’t realize what they are doing, they’re gambling, blah, blah...

    Since when is it their duty to tell people what to do with their money? Were they this concerned during the run-up to the 2008 crash? Are some people going to loss some money, yup. I’ve never heard these folks speak up or act to prevent people from buying lotto tickets, going to a casino, or gambling on sports. Their just pissed they and their greedy friends had the tables turned and some are getting cleaned. Case in point, watch that fucker Leon Cooperman’s interview from yesterday. He’s so up-and-up that he plead guilty to insider training.

    I’m all for the long term investments that russel talks about. Smart investments in index funds, blue chips, so on. That’s what I do. Everyone should have the same access to invest if they chose to do so. Whether it’s $100k or $5. But if I or others want to “play the market” like the hedge funds, short sellers, and those that attend “idea dinners,” those who we are told are “savvy investors” then we should be able to. If they lose, good. If I, or others lose, well that’s the breaks. The problem is they don’t like eating a shovel full shit once in a while. Change the regs to level the field. Fuck them.

    Im also closing my Robinhood account and headed over to fidelity after the GameStop fiasco ends.
    Robinhood is not a serious platform. I’m sorry to say. No serious traders use it. It’s a great platform for an introduction to the market and good for blue chips and long term investing. I would never use is to “trade” or purchase volatile stocks. It’s gone down before and it’s not trustworthy.
  • mrussel1
    mrussel1 Posts: 30,879
    jerparker20 said:
    My perspective on this whole thing changed yesterday. I think I mention earlier in the thread that I have a Robinhood account that I use as a way to make some investment. It’s not my only one, but whatever. Wednesday afternoon I decided to throw a few dollars into the craze. I purchase a few shares of GameStop, AMC, and Nokia. I dumped the Nokia later that afternoon and pocketed around $50 in profit. No big deal. I decided to let the others ride to sell on Thursday. 

    Thursday. Robinhood was complete shit in the morning prior to the open. Wouldn’t load, things of that nature. I figured due to demand. Around 9am, I decided to dump my AMC shares. Would have netted a $100 profit. Big money! I placed the sell order. Usual it’s instant, but this order went into pending status. Around the same time Robinhood suspend people from purchasing the meme stocks and others, you could only sell those shares. I think you can see the problem. My sell order for AMC sat for almost an hour. I went from looking at a modest gain of $100 to a loss of $12. Mean while, institution trades and a few retail brokers had free reign to buy and sell this stocks. Basically, many retail brokerage firms locked out a huge amount of people from participating in a capitalist, free market while others were able to do as they wished. There was sorts of shady shit happening.

    Then the Street and and Robinhood CEO start flapping their lips about how they halted all of this to “protect” individuals. That the people participating in this don’t realize what they are doing, they’re gambling, blah, blah...

    Since when is it their duty to tell people what to do with their money? Were they this concerned during the run-up to the 2008 crash? Are some people going to loss some money, yup. I’ve never heard these folks speak up or act to prevent people from buying lotto tickets, going to a casino, or gambling on sports. Their just pissed they and their greedy friends had the tables turned and some are getting cleaned. Case in point, watch that fucker Leon Cooperman’s interview from yesterday. He’s so up-and-up that he plead guilty to insider training.

    I’m all for the long term investments that russel talks about. Smart investments in index funds, blue chips, so on. That’s what I do. Everyone should have the same access to invest if they chose to do so. Whether it’s $100k or $5. But if I or others want to “play the market” like the hedge funds, short sellers, and those that attend “idea dinners,” those who we are told are “savvy investors” then we should be able to. If they lose, good. If I, or others lose, well that’s the breaks. The problem is they don’t like eating a shovel full shit once in a while. Change the regs to level the field. Fuck them.

    Im also closing my Robinhood account and headed over to fidelity after the GameStop fiasco ends.
    Read this please (as should everyone).  It's the best explanation I have seen of RH's perspective.  Yes, the phrase about protecting users is a little far fetched.  But if this analysis is right, then they were protecting themselves and adhering to capital requirements.  Yes it's their fault they were in this mess, as they were over run by the mob here.  But if this is an accurate assessment, I would have shut it down too.

    https://www.nationalreview.com/2021/01/why-robinhood-halted-gamestop-trading/
  • mrussel1
    mrussel1 Posts: 30,879
    static111 said:
    Because @mrussel1 lives for stonks market memes
    Hey now, I like funny memes.  I just don't like memes that purport to educate.

    As far as the other commentary, I would be completely fine if shorting was made illegal.  It reminds me a lot of the mortgage tricks adn tools that were so popular leading up to 2008 (stated income, large balloons, interest only, etc.).  When they were used by the very wealthy, they worked.  When they came to the masses, they were abused by the brokers, lenders, etc. and it was one of the primary reasons we crashed.  
  • jerparker20
    jerparker20 St. Paul, MN Posts: 2,529
    nicknyr15 said:
    jerparker20 said:
    My perspective on this whole thing changed yesterday. I think I mention earlier in the thread that I have a Robinhood account that I use as a way to make some investment. It’s not my only one, but whatever. Wednesday afternoon I decided to throw a few dollars into the craze. I purchase a few shares of GameStop, AMC, and Nokia. I dumped the Nokia later that afternoon and pocketed around $50 in profit. No big deal. I decided to let the others ride to sell on Thursday. 

    Thursday. Robinhood was complete shit in the morning prior to the open. Wouldn’t load, things of that nature. I figured due to demand. Around 9am, I decided to dump my AMC shares. Would have netted a $100 profit. Big money! I placed the sell order. Usual it’s instant, but this order went into pending status. Around the same time Robinhood suspend people from purchasing the meme stocks and others, you could only sell those shares. I think you can see the problem. My sell order for AMC sat for almost an hour. I went from looking at a modest gain of $100 to a loss of $12. Mean while, institution trades and a few retail brokers had free reign to buy and sell this stocks. Basically, many retail brokerage firms locked out a huge amount of people from participating in a capitalist, free market while others were able to do as they wished. There was sorts of shady shit happening.

    Then the Street and and Robinhood CEO start flapping their lips about how they halted all of this to “protect” individuals. That the people participating in this don’t realize what they are doing, they’re gambling, blah, blah...

    Since when is it their duty to tell people what to do with their money? Were they this concerned during the run-up to the 2008 crash? Are some people going to loss some money, yup. I’ve never heard these folks speak up or act to prevent people from buying lotto tickets, going to a casino, or gambling on sports. Their just pissed they and their greedy friends had the tables turned and some are getting cleaned. Case in point, watch that fucker Leon Cooperman’s interview from yesterday. He’s so up-and-up that he plead guilty to insider training.

    I’m all for the long term investments that russel talks about. Smart investments in index funds, blue chips, so on. That’s what I do. Everyone should have the same access to invest if they chose to do so. Whether it’s $100k or $5. But if I or others want to “play the market” like the hedge funds, short sellers, and those that attend “idea dinners,” those who we are told are “savvy investors” then we should be able to. If they lose, good. If I, or others lose, well that’s the breaks. The problem is they don’t like eating a shovel full shit once in a while. Change the regs to level the field. Fuck them.

    Im also closing my Robinhood account and headed over to fidelity after the GameStop fiasco ends.
    Robinhood is not a serious platform. I’m sorry to say. No serious traders use it. It’s a great platform for an introduction to the market and good for blue chips and long term investing. I would never use is to “trade” or purchase volatile stocks. It’s gone down before and it’s not trustworthy.
    I agree, and it’s done. The only reason I even had it was that at the time I was looking for something to play around with. they were really the only accessible place without “fees” and was easy to use. Then they became one of the first for fractional shares and crypto. But they done fucked up.


  • tempo_n_groove
    tempo_n_groove Posts: 41,362
    jerparker20 said:
    My perspective on this whole thing changed yesterday. I think I mention earlier in the thread that I have a Robinhood account that I use as a way to make some investment. It’s not my only one, but whatever. Wednesday afternoon I decided to throw a few dollars into the craze. I purchase a few shares of GameStop, AMC, and Nokia. I dumped the Nokia later that afternoon and pocketed around $50 in profit. No big deal. I decided to let the others ride to sell on Thursday. 

    Thursday. Robinhood was complete shit in the morning prior to the open. Wouldn’t load, things of that nature. I figured due to demand. Around 9am, I decided to dump my AMC shares. Would have netted a $100 profit. Big money! I placed the sell order. Usual it’s instant, but this order went into pending status. Around the same time Robinhood suspend people from purchasing the meme stocks and others, you could only sell those shares. I think you can see the problem. My sell order for AMC sat for almost an hour. I went from looking at a modest gain of $100 to a loss of $12. Mean while, institution trades and a few retail brokers had free reign to buy and sell this stocks. Basically, many retail brokerage firms locked out a huge amount of people from participating in a capitalist, free market while others were able to do as they wished. There was sorts of shady shit happening.

    Then the Street and and Robinhood CEO start flapping their lips about how they halted all of this to “protect” individuals. That the people participating in this don’t realize what they are doing, they’re gambling, blah, blah...

    Since when is it their duty to tell people what to do with their money? Were they this concerned during the run-up to the 2008 crash? Are some people going to loss some money, yup. I’ve never heard these folks speak up or act to prevent people from buying lotto tickets, going to a casino, or gambling on sports. Their just pissed they and their greedy friends had the tables turned and some are getting cleaned. Case in point, watch that fucker Leon Cooperman’s interview from yesterday. He’s so up-and-up that he plead guilty to insider training.

    I’m all for the long term investments that russel talks about. Smart investments in index funds, blue chips, so on. That’s what I do. Everyone should have the same access to invest if they chose to do so. Whether it’s $100k or $5. But if I or others want to “play the market” like the hedge funds, short sellers, and those that attend “idea dinners,” those who we are told are “savvy investors” then we should be able to. If they lose, good. If I, or others lose, well that’s the breaks. The problem is they don’t like eating a shovel full shit once in a while. Change the regs to level the field. Fuck them.

    Im also closing my Robinhood account and headed over to fidelity after the GameStop fiasco ends.
    I am encouraging everyone I know to dump their Robinhood accounts too.

    Good on you!

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