Read about this on another forum yesterday - can't say I understand it but I love it, was the perfect way to end an already great day.
i do not understand anything about hedge funds but good i guess, as far as i understand those are money farms for the rich and wealthy, so hurting them is a rather good thing, but as i do not understand i can't be sure
A lot of average Joes are going to be burnt holding piles of poo when the music stops.
It is certainly interesting to watch, but I don't think it's only a small number of wealthy companies that are going to come out of this hurting. A lot of average Joes are going to be burnt holding piles of poo when the music stops.
A lot of average Joes are going to be burnt holding piles of poo when the music stops.
This. It was fun as a brief lark, but in the end it is like a hundred ants attacking an elephant.
A good place for a real start would be to overturn the Great Republican Tax Scam of 2017 and replace it with something similar oriented in the opposite direction.
It is certainly interesting to watch, but I don't think it's only a small number of wealthy companies that are going to come out of this hurting. A lot of average Joes are going to be burnt holding piles of poo when the music stops.
The reality is, it's ALLL pooo. It's always been poo.
The only thing you really own is yourself, your previous meal, and the books you managed to read.
Everything else is poo.
On the other hand: I have done grad-level courses in finance, I've walked through exercises of how to price derivatives, I've worked around traders on global FX/commodities floors. I know exactly enough to realise I am not financially-minded at all, and am a total noob who should avoid this kind of craziness. The interweb commentary around all this absolutely horrifying... A tiny number of people probably have some idea what's going on, but otherwise it's largely the blind leading the blind, with snippets of wildly off base bluster in place of understanding.
Also if the stock gets beyond a certain point no one will be able to cash out anywayI suspect this is why Robinhood had to do what they did.
This is one of the most satisfying things to watch in years. So cathartic to see these pieces of **** panic when regular people use the exact same tactics they use to screw us. I'm lovin' it!
All I can say is if you have the money to spare get in on this. It's a stand. A revolution against the 1%
Buy and hold that line. Hold and hold till you crush Marvin to dust.
GME - AMC - NOK - BB are the bullets
Let those hedgies know you exist and you are not ok with how things are.
Has Biden or Harris commented on this yet?
edit - nope not yet, press sec dodged the question. they'll have to say SOMETHING come Monday
4 Hedge funds have lost 10-30% of everything they own.Ah, so that's what this thread is about.
Has Biden or Harris commented on this yet?
edit - nope not yet, press sec dodged the question. they'll have to say SOMETHING come Monday
It's not as simple as "Eat The Rich!" if that's what you're thinking.4 Hedge funds have lost 10-30% of everything they own.Ah, so that's what this thread is about.
I do think they should be paying more taxes than they do.
I do think they should be paying more taxes than they do.
Bill Clinton, although he had high ideals and good instincts, was a complete **** at the feet of the financial markets, and the "deal with the devil" that he made to get some of his social agenda through cost the soul of the country dearly.
"Experts" pretend that "financial instruments" such as derivative trading are so complex that ordinary people cannot understand them - and so we should just stand aside and let the markets regulate themselves.
Nowhere else is the need for government regulation more desperately apparent.
"Experts" pretend that "financial instruments" such as derivative trading are so complex that ordinary people cannot understand themThat's true.
and so we should just stand aside and let the markets regulate themselves.The markets aren't regulated by ordinary people though.
now that i understand a bit more i do worry about what will happen in a few days/weeks/months when those stocks will crash again, are they stupid or do they see the same thing coming and will just short it again as soon as the movement weaken, and so make a lot more money off of it... i guess the future will tell us.That's why at least one has dubbed it all a pyramid scheme but that's pretty silly if you think about it, yes a few may get rich like a pyramid scheme, but the real rich involved in this story already lost tons money to the masses and not all of it will return. So a flat topped pyramid? Still seems better than a pointed one to me.
There's also something to be said for the entire group (WSB) calling themselves 'autistic retards' and labeling themselves as babies but if that's your tactic to paint yourself in **** to make the opposition think you're crazy than whatever. It's your image. :rolleyes:It's good legal cover.
Robinhood is now subject to an SEC investigation, a House of Reps investigation and a class action lawsuit is in the works.
I have not actively followed this, just skimmed the headlines with mild curiousity.
Is there a simple explanation of what they did "wrong"?
It seems like people are taking profits and hits according to the standard machinations of the system, apparently with proper knowledge and disclosure.
This entire time part of me felt this whole thing last week was orchestrated by the WSB mods to rile users up so they could sell high. Then it became international news and they couldn't back down and had to act like it was for some cause. The more people they tricked into buying GME the deeper the hole of lies they dug themselves. I'd be very interested to see how many of the WSB mods are still holding, or were even holding as of last Friday.
I suspect the fines for manipulation were less than the price of playing by the rules.