Reddit Wrecks Hedge Funds

[Jerzy Bondov]

I bought some of this on Monday, and more on Tuesday, and more yesterday. Not big money at all, just a bit of fun. Might treat myself to a box of laqers when this is all over.

[GMTV]

It's always a mind fuck when i get a reminder the whole economic system is based around posh gamblers at a high class bookies. And just like bookies can change the rules seemingly at random when they get wind people have insider knowledge that they can get easy wins or work out some other strategy, the stock martets can do the same.

Would be great if this was the thing that got all the Money Cunts to fuck. But I'm sure they'll just rejig the rules a bit and they'll be back to their usual parasitic best.

There's been talk of a rising bubble in various money markets for a while,  teslas ridiculous share price a good example. I wonder is this a case of people having nothing else to spend money on during lockdown and now have easier access to markets? A few tens of millions of people chucking in relatively disposable three or four figure sums is accounting for billions of pounds of investment. Bit coins the same at the moment.

[Shoulders?-Stomach!]

The vast majority of online ads I get are for trading apps.

They obviously want our cash but only so we can lose it/they can spend it.

They perhaps shouldn't have let themselves get wide open for exploit.

Another tale of the internal conflicts between the desires for frictionless regulation free trading and the realities that this means if you go to the casino and lose (with others money, to boot) it's on your head. They want as much of the former and as little of the latter.

[studpuppet]

My favourite explanation:

So, like, the hedge fund is Factory Records, and GameStop is the die-cut 12" of Blue Monday, and the Reddit dudes are people trying to keep it at number 1 until Tony Wilson goes bankrupt?

[notjosh]

Now that a lot of banks are restricting access to GameStop shares, the movement seems to be looking at other stocks:
https://twitter.com/williamlegate/status/1354231167243984904

I'm getting bang on this. This bubble's got at least a few days left in it I reckon and if I put a hundred big ones[nb]two pound coins[/nb] on this today I ought to be able to quit my job by midday on Monday.

[Shoulders?-Stomach!]

Now that a lot of banks are restricting access to GameStop shares, the movement seems to be looking at other stocks:
https://twitter.com/williamlegate/status/1354231167243984904

I'm getting bang on this. This bubble's got at least a few days left in it I reckon and if I put a hundred big ones[nb]two pound coins[/nb] on this today I ought to be able to quit my job by midday on Monday.

Would you mind telling me exactly what to do and when/sharing a how-to guide? I might chuck £50 down the shitter on this.

[MojoJojo]

The focus on shorting is a bit of a distraction. Hedge funds and the like manipulate stock prices the other way as well i.e. buy lots of stock in a company so it's price goes up, then sell the stock they've bought at a higher price.

Although I think it gets more complicated with naked short selling.

[Mr_Simnock]

Me too I could pop £50 on this for a bit of a laugh.

[Sonny_Jim]

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

Subreddit seems to be up.  It never really went anywhere, it just went private for a bit, although a lot of people were saying they were automatically unsubscribed:

https://www.reddit.com/r/wallstreetbets/

It's always been a bit alt-right edgelord but right now it's looking a bit TheDonald'y.

EDIT:  it's just crazy.  This guy put $50k in super early, he's now got $13 Million, in cash.

https://www.reddit.com/r/wallstreetbets/comments/l6ekdz/gme_yolo_update_jan_27_2021_guess_i_need_102/

[notjosh]

Would you mind telling me exactly what to do and when/sharing a how-to guide? I might chuck £50 down the shitter on this.

I haven't got a clue mate, just having a punt myself. I have an account with a thing called Hargreaves Lansdown from a couple of years ago when a workmate told me that his aunt's cousin's friend's neigbhour was working as a gardener for the boss of a Nigerian oil company who were about to hit the big time (still haven't seen a payout on that one) but it seems like all the cool kids are using something called Robin Hood nowadays.

[Huxleys Babkins]

I bought some of this on Monday, and more on Tuesday, and more yesterday. Not big money at all, just a bit of fun. Might treat myself to a box of laqers when this is all over.

Craig David considers rewrite.

[Cuellar]

I haven't got a clue mate, just having a punt myself. I have an account with a thing called Hargreaves Lansdown from a couple of years ago when a workmate told me that his aunt's cousin's friend's neigbhour was working as a gardener for the boss of a Nigerian oil company who were about to hit the big time (still haven't seen a payout on that one) but it seems like all the cool kids are using something called Robin Hood nowadays.

I don't think RobinHood is available in the UK. You've probably seen adverts for eToro all over the place, just signed up with them but the minimum deposit is about £150 and you can't trade AMC for some reason so I've sacked that off. Might try Hargreaves Lansdown but it costs between £6 and £12 a trade apparently, I wanted to put a tenner on for a laugh but if it costs £12 I might not bother.

[Jerzy Bondov]

I'm on Trading 212 but I wouldn't advise joining as it's 1) a load of fucking shit and 2) they've put a block on buying GME anyway

[buzby]

My favourite explanation:

So, like, the hedge fund is Factory Records, and GameStop is the die-cut 12" of Blue Monday, and the Reddit dudes are people trying to keep it at number 1 until Tony Wilson goes bankrupt?

That doesn't work though as it was a myth. In the second volume of Stephen Morris' memoirs he revealed that the accounts eventually showed thay by the end of May 1983 Blue Monday had sold 230,340 copies and had made £113,477.78 profit (it wasn't until the late 80s when New Order's tax affairs came under the gaze of HMRC that they found this out, due to Factory's chaotic accounts).

They never lost money on the die cut sleeve, they just made more profit (and made them faster to produce) by omitting the die cuts and silver inner sleeve. The multi-pass Pantone colour print process for the colour code still remained, which was a significant chunk of the production cost.

It was propping up the Hacienda and property speculation at the height of a boom that sank Factory.

[GMTV]

I'm on Trading 212 but I wouldn't advise joining as it's 1) a load of fucking shit and 2) they've put a block on buying GME anyway

Hedgie McHedgeface trying to put us off here

[kittens]

trading 212 not letting me make an account. i wanna be a millionaire. not fair

[Johnny Yesno]

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

There's a linked article that suggests that not all of the investment establishment are going to be losers in this episode:

https://www.theverge.com/22251427/reddit-gamestop-stock-short-wallstreetbets-robinhood-wall-street

Citadel / Citadel Securities, for instance.

[idunnosomename]

Right can someone tell me what im supposed to do with all these fucking tulips ive bought

[Paul Calf]

Right can someone tell me what im supposed to do with all these fucking tulips ive bought

Hehe.

Yeah, the remaining hedgecunts have clearly learnt from that experience and anyone trying it on again is going to be burnt. Don't do it.

[kittens]

rushed to make an etoro account and at the end it said it takes 3 days to verify it anyway. not gonna be a millionaire off this one. next time!!!!

[Huxleys Babkins]

This guy bought $44k's worth back in February when it was at it's lowest, everyone calling him all sorts of dickheads:

https://www.reddit.com/r/wallstreetbets/comments/fbc49g/gme_yolo_monthend_update_feb_2020/

Today he's cashed out nearly $48m:

https://www.reddit.com/r/wallstreetbets/comments/l6ekdz/gme_yolo_update_jan_27_2021_guess_i_need_102/

Fair fucks.

[pigamus]

There's a linked article that suggests that not all of the investment establishment are going to be losers in this episode:

https://www.theverge.com/22251427/reddit-gamestop-stock-short-wallstreetbets-robinhood-wall-street

Citadel / Citadel Securities, for instance.

I see from the photo that Gamestop's slogan is "Power to the players". Life's full of irony, eh?

[Ray Travez]

rushed to make an etoro account and at the end it said it takes 3 days to verify it anyway. not gonna be a millionaire off this one. next time!!!!

There's going to be a lot more of this sort of thing, before the big crash. My opinion, it's barely begun.

I'm quite interested in market distortions and the 'robin hood effect'. Hertz was interesting last year, essentially a company that was going bankrupt, bid up to a crazy valuation, because retail investors piled in. There are some interesting articles on Robin Hood; this one's reasonable enough, covering the bubble in FANGDD Network last June

[hamfist]

those wanting a punt - if you have Revolut, you can do it through that

[Ray Travez]

I'd recommend Trading 212 over etoro, as the latter has a $5 withdrawal fee. I think if you use a referral code you get some free shares. I probably have a referral code, but not sure if Barry allows that sort of thing. there will be some on Money saving expert.

stay away from leveraged CFDs if you're a beginner. I didn't know what CFDs were. Found out soon enough.

Hargreaves lansdowne will charge around £10 or £12 per investment, doesn't really work for small speculative punts. You will want a 'no fee' platform.

[kittens]

got on freetrade and have ordered £20 worth of AMC, going through 30 minutes after the market opens. so may get nothing at all but maybe get super rich

[kittens]

christ i hope i haven't accidentally purchased a "leveraged cfd" and ruined my entire life

[kittens]

jackin off to the wolf of wall street imagining my amazing future with my precious 1 share of amc

[Sebastian Cobb]

I have a question, how come this is only being done now by a crowd of reddit activists and not by comparatively wealthy political adversaries like Russia and China for the lols?

[kittens]

amc just lost half its value. i have 20 minutes to cancel my order and save my life