Investing General Discussion

Springbok

Springbok

Karen
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Falstaff said:
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Lol, the notion that the “real” financial world outside of the short seller community doesn’t give a shit or is unaware is pure fiction. It’s been the entire basis of discussion on CNBC for most of this week, and the wealthiest people in the world have been discussing, tweeting, and engaging in it all week.

They’re either actual retards or lying, hard to say after 2008 and it doesn’t matter either way. I’m a commodity trader, and even in the commodity space it’s the only thing anyone wants to talk about. I had to just get off ICE because it’s non stop.
 
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Furry

Furry

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Arden said:
This feels false...
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Unless you're shorting things for a living, this is just an opportunity. Sounds pretty reasonable to me. Especially the part with a lot of autists coming out broke.
 
Ishad

Ishad

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Arden said:
This feels false...
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His assessment of wsb is pretty bang on. The power users aren’t random poors.

19843479-14CD-45F9-9AC1-7A7C5C17B9DD.jpeg
 
Arden

Arden

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Furry said:
Unless you're shorting things for a living, this is just an opportunity. Sounds pretty reasonable to me. Especially the part with a lot of autists coming out broke.
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Someone is always left holding the bag. That part is true but not remarkable. The "it's not a big deal" part feels false. So does the "it's all a scam by WSB" stuff. I'm certainly no expert. Just my opinion.
 
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Ishad

Ishad

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Uber Uberest said:
"Somebody is always left holding the bag" for once its not the regular guy.
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Plenty of regular guys will be holding part of the bag before this is all over.

wsb even made a “don’t be a complete retard post”-spoiled for length
 
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Kuro

Kuro

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Scrolling down and seeing the sensible advice poster was named CHAINSAW VASECTOMY fucking slayed me.
 
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O

Ortega

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Falstaff said:
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This is so totally true. A lady yesterday in a beat up minivan heard me telling a buddy what was going down on the phone and promptly asked me if I was talking about Gamestop. I of course said yes to which she responded that she had just bought some at $220. While I love the laughs it did strike me that this poor lady is going to lose whatever few hundred extra dollars she has getting onboard at the tail end of a meme play. Those 2.6 million new WSB users are quickly going to turn from this is awesome to I lost my money WTF real fast.
 
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Gravel

Gravel

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Ortega said:
This is so totally true. A lady yesterday in a beat up minivan heard me telling a buddy what was going down on the phone and promptly asked me if I was talking about Gamestop. I of course said yes to which she responded that she had just bought some at $220. While I love the laughs it did strike me that this poor lady is going to lose whatever few hundred extra dollars she has getting onboard at the tail end of a meme play. Those 2.6 million new WSB users are quickly going to turn from this is awesome to I lost my money WTF real fast.
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This is true. I have a finance degree, a job that allows me to research this shit essentially all day (probably done a good 50 hours of reading this week), and I still only put in about 0.1% of my net worth into it. I know the risks, but most people have no fucking clue what's going on.

And shit, even I'll admit there's a lot of this I don't understand. And a lot that is obfuscated just by the fact that I don't work on Wall Street and have the info.

I mentioned in Discord that I find it super interesting to consider how much of Wall Street isn't shorted on these stocks, but are now watching like hawks because there's a ton of money to be made.

I also mentioned that I'm sure there are a bunch of quants sitting around figuring out how much of each stock needs to be limited (like GME at 5, and now 2) to ensure they're covered when they ladder these stocks down, so they don't end up completely on their asses.
 
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Captain Suave

Captain Suave

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Ortega said:
This is so totally true. A lady yesterday in a beat up minivan heard me telling a buddy what was going down on the phone and promptly asked me if I was talking about Gamestop. I of course said yes to which she responded that she had just bought some at $220. While I love the laughs it did strike me that this poor lady is going to lose whatever few hundred extra dollars she has getting onboard at the tail end of a meme play. Those 2.6 million new WSB users are quickly going to turn from this is awesome to I lost my money WTF real fast.
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Honestly, there's some ethical self-examination that needs to be done here on participating in this kind of thing. While there are some guilt-free lulz to be had about sticking it to some big players, those guys are also in the best position to protect themselves. I'm not sure how comfortable I'd be profiting on a meme stock (assuming I successfully got out high) knowing there are pretty good odds I'm actually taking money from minivan lady in the parking lot.
 
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Downhammer

Downhammer

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And had RH and others just put 3-4 click through warnings that GME and others were meme stocks and unless you're in on the joke you'll likely lose I think everyone would have been fine instead of locking people out.
 
Gravel

Gravel

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Kiroy said:
it's looking like to me that wall street is back fully in control
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Same sell ladder as before based on volume. They're hoping to get people selling before the weekend I bet, especially since so many were convinced today would be the day of the squeeze and not understanding that it's at close.

And if they can get it low enough, a lot of stuff becomes OTM soon.
 
Uber Uberest

Uber Uberest

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Everyone would have been fine if they froze the stock, instead of intentionally tanking it. But keeping taking the bait that they were thinking of their userbase.
 
Gravel

Gravel

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Gravel said:
Same sell ladder as before based on volume. They're hoping to get people selling before the weekend I bet, especially since so many were convinced today would be the day of the squeeze and not understanding that it's at close.

And if they can get it low enough, a lot of stuff becomes OTM soon.
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And if what I said is true, it's just exacerbating the problem. People are just looking at these as sales now and the price flies back up when they're done manipulating.

Looks like the prices are coming back up again.
 
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