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    #76
    Originally posted by Singuy View Post

    Will they cause massive amounts of pain for hedge funds in the process however? Yes, and good for them.
    What broader effect might there be though? Do you think this is going to attract a boatload of new "investors" and day traders who think they can repeat what happened to GME over and over? How many "little guys" are going to end up getting hurt by this? What about folks just starting out who will avoid investing in stocks entirely because they don't trust the system?

    And do you think that everything that happened was actually legal? I read today that thousands of Reddit posts may have been made by bots intentionally manipulating things.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
    * There are no shortcuts to anywhere worth going.

    Comment


      #77
      Originally posted by disneysteve View Post

      What broader effect might there be though? Do you think this is going to attract a boatload of new "investors" and day traders who think they can repeat what happened to GME over and over? How many "little guys" are going to end up getting hurt by this? What about folks just starting out who will avoid investing in stocks entirely because they don't trust the system?

      And do you think that everything that happened was actually legal? I read today that thousands of Reddit posts may have been made by bots intentionally manipulating things.
      How Crammer explained the behaviors of hedge funds is nothing but manipulation. I think overall the returns for hedge funds will sour and many money managers will turn to more research/picking good companies and less shorting. Just decades of unchecked behavior praying on people's fears by creating rumors and lies, weaponizing MSM against the average Joe who can't make a return by individual stock picking because they are fighting against their emotions. I think individual stock picking might actually produce an average return of more than 2% going forward without the short and distort tactics used to cheat the little guys out of their hard earned cash.

      So no, the little guys are going to WIN from this. Hedge funds offer their access to qualified investors, who has assets of over a million. They work for the whales of our society and get paid by vacuuming all the dollars out of fearful individual investors. I believe they are the reason why passive investing became a thing as to be protected from their practices.

      Comment


        #78
        Originally posted by Singuy View Post

        How Crammer explained the behaviors of hedge funds is nothing but manipulation. I think overall the returns for hedge funds will sour and many money managers will turn to more research/picking good companies and less shorting. Just decades of unchecked behavior praying on people's fears by creating rumors and lies, weaponizing MSM against the average Joe who can't make a return by individual stock picking because they are fighting against their emotions. I think individual stock picking might actually produce an average return of more than 2% going forward without the short and distort tactics used to cheat the little guys out of their hard earned cash.

        So no, the little guys are going to WIN from this. Hedge funds offer their access to qualified investors, who has assets of over a million. They work for the whales of our society and get paid by vacuuming all the dollars out of fearful individual investors. I believe they are the reason why passive investing became a thing as to be protected from their practices.
        I guess the fear or tragedy or whatever here, is that these hedge funds have quite a bit of leverage with lawmakers. Not sure if it will actually happen, but there are rumblings of regulation coming to swing the advantage back to the hedge funds and institutions and away from the retail investors. Rumors of shutting down these forums, pressing insider trading charges on the users, and limiting what and how people can buy stock are all floating around right now.
        Brian

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          #79
          It looks like the mania is coming to it's expected end. GME, AMC, Express, and silver are all down sharply today. I'm sure most of those folks are sitting on big losses now. GME is down $130 today back under $100/share and probably still falling.

          The market is doing well overall with the Dow up almost 600 now.

          And those of us in FVRR are doing okay, too. Back up to $230 after dipping below $200 recently.
          Steve

          * Despite the high cost of living, it remains very popular.
          * Why should I pay for my daughter's education when she already knows everything?
          * There are no shortcuts to anywhere worth going.

          Comment


            #80
            Got a couple of friends caught in the mania. Talked one guy out of buying in at 300...or maybe I talked him out of it..who knows.

            They keep showing me the volkswagen short squeeze. That squeeze was a 10x gain. GME had a 100x gain near its peak and people still rallying for another 10x gain from there. Now my friend's buy in are cut in half and still dropping. We see short interest went from over 100% of float down to the 30s and 40s. WSB is trying to explain this away with conspiracies. I think many will choose this hill to die on.

            Comment


              #81
              Originally posted by Singuy View Post
              Got a couple of friends caught in the mania. Talked one guy out of buying in at 300...or maybe I talked him out of it..who knows.

              They keep showing me the volkswagen short squeeze. That squeeze was a 10x gain. GME had a 100x gain near its peak and people still rallying for another 10x gain from there. Now my friend's buy in are cut in half and still dropping. We see short interest went from over 100% of float down to the 30s and 40s. WSB is trying to explain this away with conspiracies. I think many will choose this hill to die on.
              Someone in the blogs said that they bought GME purely as part of a protest against the system. They know it's a gamble. They only put in a small amount that they're okay losing. But they participated in Occupy Wall Street and some other protest and this is just another protest to them. They don't believe it will accomplish anything or that the system will actually change but they wanted to be able to say they were involved.
              Steve

              * Despite the high cost of living, it remains very popular.
              * Why should I pay for my daughter's education when she already knows everything?
              * There are no shortcuts to anywhere worth going.

              Comment


                #82
                Originally posted by disneysteve View Post

                Someone in the blogs said that they bought GME purely as part of a protest against the system. They know it's a gamble. They only put in a small amount that they're okay losing. But they participated in Occupy Wall Street and some other protest and this is just another protest to them. They don't believe it will accomplish anything or that the system will actually change but they wanted to be able to say they were involved.
                My friends got in for the green bags. Now they are just holding a turd bag.

                Comment


                  #83
                  Originally posted by Singuy View Post

                  My friends got in for the green bags. Now they are just holding a turd bag.
                  What does this mean? I mean what did they pay for it and how are they holding a turd bag? I don't know anyone who got it. Most people I know are too clueless. Did people actually lose money? I only see the stories of winning, Which I know to be not true.
                  LivingAlmostLarge Blog

                  Comment


                    #84
                    Originally posted by LivingAlmostLarge View Post

                    What does this mean? I mean what did they pay for it and how are they holding a turd bag? I don't know anyone who got it. Most people I know are too clueless. Did people actually lose money? I only see the stories of winning, Which I know to be not true.
                    All the "meme" stocks pumped up by Reddit are falling. A lot of people got in at the highs and are now deep in the red.
                    I was on Reddit last night and there was one guy on there down $1.1 million

                    Brian

                    Comment


                      #85
                      Originally posted by bjl584 View Post

                      All the "meme" stocks pumped up by Reddit are falling. A lot of people got in at the highs and are now deep in the red.
                      I was on Reddit last night and there was one guy on there down $1.1 million
                      Did he make like $3M though at peak and only invested like $10k and then it went up to $XM and "lost" $1.1M? It's all paper losses until they sell. is it actually real? Or just lamenting they "lost' Money they didn't cash out.
                      LivingAlmostLarge Blog

                      Comment


                        #86
                        Originally posted by bjl584 View Post

                        I was on Reddit last night and there was one guy on there down $1.1 million
                        I wonder what that actually means, like LAL said. Did he start with $2 million and now has $1 million or did he start with $10,000, see it go up to $1 million, and now back to $10,000, in which case he hasn't actually lost a penny.

                        I have absolutely no sympathy for anyone who lost money participating in this. They got exactly what they deserved. What they were doing wasn't investing in any way, shape, or form. It was gambling, and super high risk gambling at that. And some of the message board activity may even have been illegal.

                        Anybody who jumped onboard when a $20 stock was suddenly $200 or $300 convinced that it was going to keep on rising were just plain stupid. If any of them managed to get out at the right time and made a nice profit, good for them, but if they got burned, oh well. They should have known what they were getting themselves into.
                        Last edited by disneysteve; 02-03-2021, 11:04 AM.
                        Steve

                        * Despite the high cost of living, it remains very popular.
                        * Why should I pay for my daughter's education when she already knows everything?
                        * There are no shortcuts to anywhere worth going.

                        Comment


                          #87
                          Originally posted by LivingAlmostLarge View Post

                          What does this mean? I mean what did they pay for it and how are they holding a turd bag? I don't know anyone who got it. Most people I know are too clueless. Did people actually lose money? I only see the stories of winning, Which I know to be not true.
                          Lol, yes my friend got in at 400s and 300s. Now he is down like 70%

                          Comment


                            #88
                            Originally posted by Singuy View Post

                            Lol, yes my friend got in at 400s and 300s. Now he is down like 70%
                            Is he normally a reasonable person and sane investor? If so, what possessed him to pay $400 for a $20 stock?
                            Steve

                            * Despite the high cost of living, it remains very popular.
                            * Why should I pay for my daughter's education when she already knows everything?
                            * There are no shortcuts to anywhere worth going.

                            Comment


                              #89
                              Originally posted by disneysteve View Post

                              I wonder what that actually means, like LAL said. Did he start with $2 million and now has $1 million or did he start with $10,000, see it go up to $1 million, and now back to $10,000, in which case he hasn't actually lost a penny.

                              I have absolutely no sympathy for anyone who lost money participating in this. They got exactly what they deserved. What they were doing wasn't investing in any way, shape, or form. It was gambling, and super high risk gambling at that. And some of the message board activity may even have been illegal.

                              Anybody who jumped onboard when a $20 stock was suddenly $200 or $300 convinced that it was going to keep on rising were just plain stupid. If any of them managed to get out at the right time and made a nice profit, good for them, but if they got burned, oh well. They should have known what they were getting themselves into.
                              These kids actually did ample research and did this collectively. They knew exactly what to do for a short squeeze and made millions on the back of hedge funds. Now the people who piled on after the surge are people who doesn't understand anything....like always. Remember that thread named "short Tesla" on this forum? That was created exactly at the bottom of Tesla stock price. It wasn't even a day or two early, literally the lowest the stock ever went. That's how this works. When people are on the band wagon it's usually too late.

                              Comment


                                #90
                                Originally posted by Singuy View Post

                                Lol, yes my friend got in at 400s and 300s. Now he is down like 70%
                                So was your friend just bandwagon or actually doing it for a reason? What was the bottom of tesla?
                                LivingAlmostLarge Blog

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