Investment advice
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Re: Investment advice
Its a great response, but I wish the Dems would ignore this whole issue and frame it as "we're dropping everything to focus on 0.0007% of the stock market versus the 30% of the public that needs stimulus" or something. Embrace populism.
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- The Dude
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Re: Investment advice
I guess. Frankly, it is worth immediate congressional pressure to get robinhood and other apps to allow the little people the same access the hedge funds get.
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Re: Investment advice
I'm Tyrone Biggums for this
Until everything is less insane, I'm mixing weed with wine.
Re: Investment advice
I think that's exactly my point? "Same access as hedge funds" just sounds awful in comparison to everything else going on and you can leverage that.tennbengal wrote: ↑Thu Jan 28, 2021 1:23 pmI guess. Frankly, it is worth immediate congressional pressure to get robinhood and other apps to allow the little people the same access the hedge funds get.
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Re: Investment advice
Ah, ok. Thought you were saying why bother with this with bigger things going on.mister d wrote: ↑Thu Jan 28, 2021 1:36 pmI think that's exactly my point? "Same access as hedge funds" just sounds awful in comparison to everything else going on and you can leverage that.tennbengal wrote: ↑Thu Jan 28, 2021 1:23 pmI guess. Frankly, it is worth immediate congressional pressure to get robinhood and other apps to allow the little people the same access the hedge funds get.
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Re: Investment advice
Depending on how you read "reloaded their shorts" that tweet goes different ways.
Hold on, I'm trying to see if Jack London ever gets this fire built or not.
Re: Investment advice
Coulda been my nickname in the summer of '89.
well this is gonna be someone's new signature - bronto
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Re: Investment advice
Citadel on that cabbage soup only cleanse...
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Re: Investment advice
Well, until we build conveyor belts to the guillotines, we're not going to have it all.sancarlos wrote: ↑Thu Jan 28, 2021 12:03 pmYeah, but plenty of wealthy people are loving the pain felt by short sellers. Like, every CEO of a publicly traded company.DSafetyGuy wrote: ↑Thu Jan 28, 2021 11:54 am I'm just enjoying the concept of the wheels of capitalism being greased by the blood of the wealthy for once.
“The running, the jumping... a celebration of life.”
Re: Investment advice
Coincidentally, I bought Blackberry (BB; just 100 shares to play around with) in the spring/summer of 2019 because I thought it was a good value...their security software/patents are still worth something and I have his naive hope that the phones will make a comeback (even though they don't own the brand anymore I figure there will be a bump). I got around $8/share and watched it drop down to under $3...now it's caught up in this GME train ride. Shot up to $28 yesterday. I thought I was sitting pretty and was going to enjoy a bit more of ride until today when it dropped back down to $15ish. Come to find out it's on the banned-trade list along with GME, AMC, Nokia, etc.
What these platforms are doing is criminal.
Side note - at the same time I was looking at a Chinese electric car company called NIO...it was trading around $6-$8 when I first started looking then as I was considering it dropped down to $3-$4...I said "no way...to volatile and they'll probably tank or get taken over by the government or something". It's up to $58 as write this. This is why I don't do much with stocks.
What these platforms are doing is criminal.
Side note - at the same time I was looking at a Chinese electric car company called NIO...it was trading around $6-$8 when I first started looking then as I was considering it dropped down to $3-$4...I said "no way...to volatile and they'll probably tank or get taken over by the government or something". It's up to $58 as write this. This is why I don't do much with stocks.
I would like expensive whiskey.
We only have beer & wine...
What am I, 12?
We only have beer & wine...
What am I, 12?
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Re: Investment advice
This type of volatility does NOT happen anywhere near this often.GoodKarma wrote: ↑Thu Jan 28, 2021 3:44 pm Coincidentally, I bought Blackberry (BB; just 100 shares to play around with) in the spring/summer of 2019 because I thought it was a good value...their security software/patents are still worth something and I have his naive hope that the phones will make a comeback (even though they don't own the brand anymore I figure there will be a bump). I got around $8/share and watched it drop down to under $3...now it's caught up in this GME train ride. Shot up to $28 yesterday. I thought I was sitting pretty and was going to enjoy a bit more of ride until today when it dropped back down to $15ish. Come to find out it's on the banned-trade list along with GME, AMC, Nokia, etc.
What these platforms are doing is criminal.
Side note - at the same time I was looking at a Chinese electric car company called NIO...it was trading around $6-$8 when I first started looking then as I was considering it dropped down to $3-$4...I said "no way...to volatile and they'll probably tank or get taken over by the government or something". It's up to $58 as write this. This is why I don't do much with stocks.
Until everything is less insane, I'm mixing weed with wine.
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Re: Investment advice
Back in the day, I helped build funds for the down payment on my first house using Motley Fool logic, but that's the last time I was into individual stocks. My 401k money is heavily focused on indexes, with the theory that over time, they'll see steady returns. Probably need to start locking that shit in at some point.
Just saying that the individual stock game has always seemed both arbitrary and very much fixed. I remember buddies basically getting inside information on stocks (at least they thought so) and that didn't really seem fair, but just cemented the notion that it wasn't so much about picking the right one, but picking the right friends.
/vaguely off topic post
Just saying that the individual stock game has always seemed both arbitrary and very much fixed. I remember buddies basically getting inside information on stocks (at least they thought so) and that didn't really seem fair, but just cemented the notion that it wasn't so much about picking the right one, but picking the right friends.
/vaguely off topic post
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Re: Investment advice
Ackman is an activist investor, a class of investor which imho is just as nasty as the guys who focus on short-selling.wlu_lax6 wrote: ↑Thu Jan 28, 2021 12:36 pm If you enjoy reading this type of thing. Look at Herbalife versus Bill Ackerman. That was a 5 year battle of a guy going short because he thought it was a pyramid scheme. I lost track of the story, but he was super vocal and aggressive. I think it was close to a $1B loss for Ackerman (who went opposite Carl Ichan on this company).
https://seekingalpha.com/article/439407 ... balife-bet
I handled Investor Relations at publicly traded companies for 25 years and dealt with those types of investors a few different times. They are slick and smooth but not nice people. It was kind of exciting, kind of nerve-wracking, and kind of a pain. But not boring. I’ve got some long stories about that stuff, too long to share here.
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Re: Investment advice
Freezing trades is just a bullshit insider way of letting the banks strategize how to combat this and future events, right? There's no legit reason?
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Re: Investment advice
I can't seem to parse one.
Hold on, I'm trying to see if Jack London ever gets this fire built or not.
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Re: Investment advice
Completely. Robinhood is fucked though. EVERYONE should take their money/stocks elsewhere at this point.
Until everything is less insane, I'm mixing weed with wine.
Re: Investment advice
Citadel is one of the very biggest hedge funds out there. Not too hard to imagine them shorting every share they could borrow this morning, then lobbying brokerage firms afterwards to pause trading.
"What a bunch of pedantic pricks." - sybian
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Re: Investment advice
My last boss works for them now. He and I didn't get along.
Hold on, I'm trying to see if Jack London ever gets this fire built or not.
Re: Investment advice
Am thinking about doing this but don't know how or where to move it. Guess I could just sell everything I own and take the profit and pay the tax.govmentchedda wrote: ↑Thu Jan 28, 2021 4:35 pmCompletely. Robinhood is fucked though. EVERYONE should take their money/stocks elsewhere at this point.
THERE’S NOWT WRONG WITH GALA LUNCHEONS, LAD!
Re: Investment advice
Can't roll it over to another account to avoid tax?
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Re: Investment advice
Yeah, I don't know specifics, but I'd assume rolling it over would avoid the tax.
Until everything is less insane, I'm mixing weed with wine.
Re: Investment advice
He's still holding:
(This is the guy that made the big plays early on and gave everyone on Reddit the heads up. He's 'Roaring Kitty' on YouTube.)
(This is the guy that made the big plays early on and gave everyone on Reddit the heads up. He's 'Roaring Kitty' on YouTube.)
Last edited by Johnnie on Wed Apr 21, 2021 8:37 am, edited 1 time in total.
mister d wrote:Couldn't have pegged me better.
EnochRoot wrote:I mean, whatever. Johnnie's all hot cuz I ride him.
Re: Investment advice
You can do that. Years ago, I rolled from E-Trade to TD Ameritrade. On the way out, E-Trade charged me some high fees related to the transfer, though.
I don't even remember why I did it, except that I was pissed at E-Trade for some reason.
"What a bunch of pedantic pricks." - sybian
Re: Investment advice
Bunch of stories out now about wallstreetbets being alt-right to scare people away. Also have seen some stories talking about how shit a company game stop is. But those stories are missing the point. It doesn't matter if a company is a shitty company. Just more propaganda by the ultra wealthy.
To quote both Bruce Prichard and Tony Schiavone, "Fuck Duff Meltzer."
Re: Investment advice
mister d wrote:Couldn't have pegged me better.
EnochRoot wrote:I mean, whatever. Johnnie's all hot cuz I ride him.
Re: Investment advice
Am I reading this right? They would've taken down all of Wall Street because they would've triggered the theoretical infinite loss possibility?
(Wall Street Bets Reddit post in spoiler)
(Wall Street Bets Reddit post in spoiler)
mister d wrote:Couldn't have pegged me better.
EnochRoot wrote:I mean, whatever. Johnnie's all hot cuz I ride him.
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Re: Investment advice
And his one problem is he didn’t go to Russia that night because he had extracurricular activities, and they froze to death.
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Re: Investment advice
I kind of understand that. But, also, I don't remotely understand that.
(the johnnie reddit thing)
(the johnnie reddit thing)
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Re: Investment advice
I understand it spoiled Snowpiercer for me!tennbengal wrote: ↑Thu Jan 28, 2021 8:43 pm I kind of understand that. But, also, I don't remotely understand that.
(the johnnie reddit thing)
Also, I suspect that when these calls come due, the market/your broker/whomever comes after ANYTHING you have to cover your potential losses, which would have meant the intermeshed hedge fund network that likely everyone who owns a fund, or has pensions that own a fund, etc. would have been liquidated and the entire house of cards would have gone poof.
Until everything is less insane, I'm mixing weed with wine.
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Re: Investment advice
Ah. Ok. I think. Maybe time to regulate wall street again, huh.
Re: Investment advice
mister d wrote:Couldn't have pegged me better.
EnochRoot wrote:I mean, whatever. Johnnie's all hot cuz I ride him.
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Re: Investment advice
This is the point I haven't heard anyone say. If the the Redditor guys "hurt the Hedge Fund Bros," doesn't that wipe out people's retirement funds, university endowments and a lot of other really good and necessary things and ultimately destroy our entire system?govmentchedda wrote: ↑Thu Jan 28, 2021 8:51 pmI understand it spoiled Snowpiercer for me!tennbengal wrote: ↑Thu Jan 28, 2021 8:43 pm I kind of understand that. But, also, I don't remotely understand that.
(the johnnie reddit thing)
Also, I suspect that when these calls come due, the market/your broker/whomever comes after ANYTHING you have to cover your potential losses, which would have meant the intermeshed hedge fund network that likely everyone who owns a fund, or has pensions that own a fund, etc. would have been liquidated and the entire house of cards would have gone poof.
An honest to God cult of personality - formed around a failed steak salesman.
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Re: Investment advice
That is a problem, but the systematic problem is that these hedge funds were going too deep into the shorts. If people were not so tied into the stock market for retirement, endowments and such, this most likely never would have happened. But the hedge funds were to not only trying to make a shit ton of money for themselves, but they are pushed by those that invest in them also. The need to get the quickest and biggest return is the root of the issue.The Sybian wrote: ↑Fri Jan 29, 2021 9:11 amThis is the point I haven't heard anyone say. If the the Redditor guys "hurt the Hedge Fund Bros," doesn't that wipe out people's retirement funds, university endowments and a lot of other really good and necessary things and ultimately destroy our entire system?govmentchedda wrote: ↑Thu Jan 28, 2021 8:51 pmI understand it spoiled Snowpiercer for me!tennbengal wrote: ↑Thu Jan 28, 2021 8:43 pm I kind of understand that. But, also, I don't remotely understand that.
(the johnnie reddit thing)
Also, I suspect that when these calls come due, the market/your broker/whomever comes after ANYTHING you have to cover your potential losses, which would have meant the intermeshed hedge fund network that likely everyone who owns a fund, or has pensions that own a fund, etc. would have been liquidated and the entire house of cards would have gone poof.
I was always told that the market should be a slow play. But too many people just want that instant gratification.
To quote both Bruce Prichard and Tony Schiavone, "Fuck Duff Meltzer."