Gamestop

[PhDhawk]

https://www.usnews.com/news/top-news/ar ... bets-lingo

Hmm. That dumb shit almost makes me wanna cheer for the hedge funds. Not really, but that's some real stupid shit.

^^^^^

I couldn't disagree more.

Some of the greatest stuff I've ever read.

I might get some tendies for lunch.

[chiknbut]

Tap the breaks, folks.

None of you should post any more until we hear from Lobster. I bet he's got some sweet stories about making a few dimes this week!

[Deleted User 289]

Fuck people like David Booth!
Am I doing this right?

[PhDhawk]

but the only way to affect actual change along those avenues is legislatively

and that change only comes by electing the right legislators

WSB are affecting actual change right now. What they're doing matters.

Let's get some tendies, and continue to hold. Diamond hands. To the moon.

what change is happening that is positively benefitting them?

maybe i’m wrong, but it seems the changes are benefitting the big boys

They made wall street more scared and more on notice than any legislation, politician, or regulatory agency ever has.

A year ago politicians sold stock after hearing about Covid....and nothing happened to them. The SEC is toothless. Politicians are in bed with Wall Street.

[PhDhawk]

Fuck people like David Booth!
Am I doing this right?

If Dimensional Fund Advisors looses big to some group of reddit day traders, I won't feel sorry for them.

If David Booth's personal portfolio goes up 12% next year, I won't care, if it goes down 12%, I won't care.

I can like that David Booth is a big booster at KU and still not like the fact that he can invest in things that I'm not even allowed to invest in even if have the liquidity to do so, simply because I'm not a "qualified trader".

[PhDhawk]

Tap the breaks, folks.

None of you should post any more until we hear from Lobster. I bet he's got some sweet stories about making a few dimes this week!

This is a good point.

I just hope that he tells the stories in the form of someone else's youtube video.

[ousdahl]

Lobster bought stock at a high price, then took it into GameStop and they only offered like $12 dollars of trade credit for it, so he applied it toward a game boy

[jfish26]

And if the wealth were distributed more evenly, that wouldn't mean that hospitals wouldn't exist. Or they would be underfunded. On the contrary most likely.

Now do college basketball!

[Deleted User 89]

WSB are affecting actual change right now. What they're doing matters.

Let's get some tendies, and continue to hold. Diamond hands. To the moon.

what change is happening that is positively benefitting them?

maybe i’m wrong, but it seems the changes are benefitting the big boys

They made wall street more scared and more on notice than any legislation, politician, or regulatory agency ever has.

A year ago politicians sold stock after hearing about Covid....and nothing happened to them. The SEC is toothless. Politicians are in bed with Wall Street.

so nothing really changed to help even the playing field for the “little guys”

and your second point validates my contention that the wrong people are getting elected (if our goal is to make concrete changes to status quo)

[ousdahl]

Remember when DC alleged the lib efforts against Citizens United was the same in volume and magnitude as the con efforts against Roe?


If only...

[PhDhawk]

what change is happening that is positively benefitting them?

maybe i’m wrong, but it seems the changes are benefitting the big boys

They made wall street more scared and more on notice than any legislation, politician, or regulatory agency ever has.

A year ago politicians sold stock after hearing about Covid....and nothing happened to them. The SEC is toothless. Politicians are in bed with Wall Street.

so nothing really changed to help even the playing field for the “little guys”

and your second point validates my contention that the wrong people are getting elected (if our goal is to make concrete changes to status quo)

It shows that there is strength in numbers. It shows that regular people can accomplish something.

I mean, your argument that they haven't done anything reminds me of the people who complained that the ice bucket challenge didn't immediately cure ALS.

SEC are hired employees, not elected.

[pdub]

As douchey/memey/whatever word you want to ascribe for the wallstreet reddit group, they are likely made up of people earning 400k or less annually. More likely earning less than 100k.

And they organized and obviously pissed off a very small group of people who make money playing the same game but with a major advantage - and who make maybe 500 times more than they do.

Are their lives and what they do ( getting insider knowledge, pressing a few buttons and making a few calls ) worth that much more than the douchers on wallstreetreddit?

[jfish26]

As douchey/memey/whatever word you want to ascribe for the wallstreet reddit group, they are likely made up of people earning 400k or less annually. More likely earning less than 100k.

And they organized and obviously pissed off a very small group of people who make money playing the same game but with a major advantage - and who make maybe 500 times more than they do.

Are their lives and what they do ( getting insider knowledge, pressing a few buttons and making a few calls ) worth that much more than the douchers on wallstreetreddit?

Now. Do. College. Basketball.

[ousdahl]

Why do we even need hedge fund managers?

Is there really any practical value to an economy or a society for guys to be stepping in between transactions and re-selling in hopes that they’ll be less valuable come time the original owners buy then back?

Like value besides making a handful of predatory capitalists richer, just cuz they can

[defixione]

Tap the breaks, folks.

None of you should post any more until we hear from Lobster. I bet he's got some sweet stories about making a few dimes this week!

Where is Lobby?

[pdub]

You could reform the stock market to regulate greed but the people in it have been entrenched for so long. This is how it is everyone.

Politics talk here but I think generally much of the anger you saw in the streets and then at the capitol are rooted in economic disparity -- and that the people in charge don't really mean to make a difference.

[ousdahl]

You know, we could nip this in the bud after little more than a couple election cycles tops. Except too many people have the mindset of “This is how it is everyone.”

I don’t know how so many can be so complacent with their own marginalized economic status, then turn around and put the energy they do arguing about other shit like abortion and guns. Or heck, explicitly arguing to label those who DO argue for economic equality as “too radical.”

and that’s how humans destroyed the earth.

[Deleted User 89]

the earth was on a human-led path to destruction long before...

[ousdahl]

Well yeah, I’m painting with a broad brush.

It’s not the hedge fund fuckers specifically. Just the general sense of greed and us v. them that comes with capitalism, and the “this is how it is everyone” mindset of complacency.

[Deleted User 863]

I have no idea what you just said

https://www.usnews.com/news/top-news/ar ... bets-lingo

Hmm. That dumb shit almost makes me wanna cheer for the hedge funds. Not really, but that's some real stupid shit.

I am on WSB side of this for the record. Just wish i was tuned into the reddit world so i would have known earlier in the game to actually earn money on GME myself.

A main problem i see in this as a whole is that it makes a mockery of the market. I love the little guy rising up aspect, but it is market manipulation. And where i think this can turn bad for all of us little guys, is that if this becomes a war of market manipulation then the hedge funds are going to have an advantage (as was already proven by Robinhood).

What's the end game with Gamestop? The soaring price is not based on reality (company financials, earnings, etc). Eventually the "big guys" will all be out and will have taken their loss, and then many of the later to the game "little guys" are going to lose their ass when this stock goes down to $10 or whatever. It's not like gamestop turned into amazon overnight. It isn't (and wasn't) a long term position to be in.