Author Topic: Reddit Wrecks Hedge Funds (Read 19097 times)

gib · « **Reply #60 on:** January 27, 2021, 10:32:21 PM »

Quote from: Zetetic on January 27, 2021, 10:19:37 PM

My vague assumption is that the reputational damage of repeatedly failing-to-deliver is meant to be the cost to the would-be short seller.

yes, no one will want to trade with you again. I have no idea how these things work but that much seems obvious.

imitationleather · « **Reply #61 on:** January 27, 2021, 10:34:09 PM »

bgmnts · « **Reply #62 on:** January 27, 2021, 10:36:28 PM »

Is that an original Garrison?

FerriswheelBueller · « **Reply #63 on:** January 27, 2021, 10:42:14 PM »

Quote from: Zetetic on January 27, 2021, 10:19:37 PM

Absolutely not! I asked you because I've learnt pretty much anything I've ever learnt on this, this evening…

Ah ok, I thought that was an assertion and I just don’t know either way!

I spent a very unhappy decade in the industry (and am delighted not to be doing it anymore) but I’ve only worked on a handful of trading floors in that time, and even then it’s been tangential so the actual nuts and bolts remain a mystery to me.

Shoulders?-Stomach! · « **Reply #64 on:** January 27, 2021, 10:50:06 PM »

Quote from: imitationleather on January 27, 2021, 10:34:09 PM

Now genuinely impossible to tell if that's woke stasi-boiz aping what they think the alt-right reaction will be or the alt-right themselves.

Mr_Simnock · « **Reply #65 on:** January 27, 2021, 11:12:15 PM »

Looks like some sort of halt to trading in these shares, trying to protect themselves here, what a weird and amazing thing happening today, just incredible.

https://twitter.com/williamlegate/status/1354500987617218567

Other stocks now have a stop on trading too

https://twitter.com/TraderMike/status/1354472847171870720

Gurke and Hare · « **Reply #66 on:** January 27, 2021, 11:23:03 PM »

Obviously can't speak for the situation in the US, but in the UK there are regulations in place on stockbrokers that are supposed to prevent non-expert investors from high risk investments. I can definitely envisage them kicking in at this point given the volatility over the last few days. My own opinion - which is not, for the record, financial advice - is that anyone buying the shares at this point is likely to lose a large portion of their money.

Mr_Simnock · « **Reply #67 on:** January 27, 2021, 11:23:20 PM »

Watching a load of reddit users making the US financial system shit it's pants like this is amazing, CEO of Nasdaq now calling for trading to be halted while the poor poor finance people pwopper 're-calibrate their positions'

https://twitter.com/Mediaite/status/1354504710695362563

idunnosomename · « **Reply #68 on:** January 27, 2021, 11:25:47 PM »

Quote from: gib on January 27, 2021, 09:36:53 PM

Milkybar is all one word. Carry on.

oh no I'm talking about another Milky Bar

bgmnts · « **Reply #69 on:** January 27, 2021, 11:26:03 PM »

Yet another example of how utterly broken capitalism is.

idunnosomename · « **Reply #70 on:** January 27, 2021, 11:45:18 PM »

oh. why's that then?

thugler · « **Reply #71 on:** January 27, 2021, 11:49:48 PM »

The reddit page is gone

Mr_Simnock · « **Reply #72 on:** January 27, 2021, 11:54:13 PM »

Yep, the server was taken down due to 'Hate speech', fuck me how rattled they are getting...

https://www.theverge.com/2021/1/27/22253251/discord-bans-the-r-wallstreetbets-server

Ray Travez · « **Reply #73 on:** January 28, 2021, 01:22:04 AM »

Gamestop was all about call option gamma squeeze.

Pearly-Dewdrops Drops · « **Reply #74 on:** January 28, 2021, 01:28:44 AM »

Quote from: Mr_Simnock on January 27, 2021, 11:54:13 PM

Yep, the server was taken down due to 'Hate speech', fuck me how rattled they are getting...

https://www.theverge.com/2021/1/27/22253251/discord-bans-the-r-wallstreetbets-server

An ominous example of the new playbook post-January 6 for how tech companies will clamp down on anything they don't like.

kngen · « **Reply #75 on:** January 28, 2021, 01:33:22 AM »

The person who started this all with 55 grand's worth of stocks had, at the close of business, $14 million in cash in their account, and still enough shares (about $35m worth) to fuck the hedge funds and keep everyone fron panic selling, too, so the retail traders won't lose their shirts either. Well fucking played.

Pearly-Dewdrops Drops · « **Reply #76 on:** January 28, 2021, 03:25:28 AM »

Quote from: kngen on January 28, 2021, 01:33:22 AM

The person who started this all with 55 grand's worth of stocks had, at the close of business, $14 million in cash in their account, and still enough shares (about $35m worth) to fuck the hedge funds and keep everyone fron panic selling, too, so the retail traders won't lose their shirts either. Well fucking played.

So some investor bro who is rich enough to risk $55,000 has earned millions taken directly from an uninformed mob of small-dollar retail investors. Truly sticking it to Wall Street.

falafel · « **Reply #77 on:** January 28, 2021, 06:03:29 AM »

55 grand! Who has that sort of money lying around?

In the end this looks less like a subversion of capitalism than a whole-hearted embrace of some of its grottiest parts.

Chedney Honks · « **Reply #78 on:** January 28, 2021, 06:19:32 AM »

I just love seeing anything get totally fucked even for a moment.

Chedney Honks · « **Reply #79 on:** January 28, 2021, 07:04:00 AM »

Fuck it I'm in for a fiver.

Shoulders?-Stomach! · « **Reply #80 on:** January 28, 2021, 07:21:05 AM »

The new server to replace the one shut down seems to be on 85k+ members already.

Paul Calf · « **Reply #81 on:** January 28, 2021, 07:32:52 AM »

Quote from: checkoutgirl on January 27, 2021, 08:21:11 PM

Why did you bother posting that?

Why did you bother posting that?

Chedney Honks · « **Reply #82 on:** January 28, 2021, 08:00:18 AM »

Why did both of you bother posting those

Vitalstatistix · « **Reply #83 on:** January 28, 2021, 08:03:31 AM »

Apparently their God is 'Papa Musk' so I feel an overwhelming urge to cheer for the hedge funds.

Modern life is confusing.

Chedney Honks · « **Reply #84 on:** January 28, 2021, 08:16:38 AM »

They're just memeing

Paul Calf · « **Reply #85 on:** January 28, 2021, 08:20:18 AM »

Quote from: Chedney Honks on January 28, 2021, 08:00:18 AM

Why did both of you bother posting those

Why does anyone bother posting anything?

PlanktonSideburns · « **Reply #86 on:** January 28, 2021, 08:22:59 AM »

John I'm only meeming

Chedney Honks · « **Reply #87 on:** January 28, 2021, 08:25:26 AM »

Quote from: Paul Calf on January 28, 2021, 08:20:18 AM

Why does anyone bother posting anything?

The sense of companionship.

Shoulders?-Stomach! · « **Reply #88 on:** January 28, 2021, 08:34:24 AM »

Quote from: falafel on January 28, 2021, 06:03:29 AM

55 grand! Who has that sort of money lying around?

In the end this looks less like a subversion of capitalism than a whole-hearted embrace of some of its grottiest parts.

The subversion of capitalism was what was happening anyway, by hedgefunds, aided and abetted by governments and weak regulators.

What's happening now is intended to highlight that by using the exploits against them, finding the businesses hedgefunds have driven to near bankruptcy through shorting stocks way below their actual value and using their sheer greed to fuck them with. The 'embrace of its grottiest parts' is absolutely essential to the project.

The fact some individual people involved are out to make a quick buck shouldn't really distract from that. This is a rare glimmer, a chink in the armor of a system that will close ranks, hell, maybe even be forced to actually regulate itself.

The Ombudsman · « **Reply #89 on:** January 28, 2021, 08:39:04 AM »

Found this thread on Twitter while looking at what this whole GameStop debacle was all about. Thought it might be of interest to others.

https://twitter.com/dollarsanddata/status/1354561079926550530?s=20

It's about Piggly Wiggly shares in the 1920's. I was quite surprised at the value of the shares given it was 20's era.

News:

Author Topic: Reddit Wrecks Hedge Funds (Read 19097 times)