Reddit "WallStreetBets" Forum Counter-Buys Against a Hedge Fund Short-Selling GameStop Stock;
They Break the Hedge Fund and Even the Other Wall Street Firms Coming to the Hedge Fund's Rescue

The hedge fund was betting on Game Spot to lose money by selling shares it didn't have. The idea is that you sell the stock at one price and later, when the price falls (as you predicted, but also caused to happen), you can then buy the stock at the lower price. You're able to sell the stock you originally didn't have, and pocket a profit.

At least, this is how I think it works, based on Trading Places.

24 I don't believe you can sell shares you don't own. (???)

The way I understand it, you 'borrow' the shares from a Brokerage House, or the Company itself, for a fee. Say, 5% for 30 days. Then you sell them and pocket the money with the idea that you expect the shares to drop and you can buy them up to replace the borrowed shares at a much reduced price, pocketing the difference.

Posted by: Uncle Rick

The Reddit forum "WallStreetBets" organized a counter-maneuver, buying up the stock. They raised the Game Spot price so high that the hedge fund is losing millions and millions.

A lot of people are applauding, because we want someone to start hurting these people.

- Shares of GameStop and AMC Entertainment Holdings soared for a fourth day running on Wednesday, forcing hedge funds to retreat from heavy losses and sparking calls for scrutiny of a social media-driven trading frenzy.

Short-seller Citron, a target for some of the individual traders who have helped drive huge gains for a number of niche Wall Street stocks in the past week, said in a video post it had abandoned its bet on GameStop shares falling.

With commentators and lawyers calling for scrutiny of the moves, Nasdaq chief Adena Friedman said exchanges and regulators needed to pay attention to the potential for "pump and dump" schemes driven by chatter on social media.

Yes, there could be some of that going on -- get people stoked to teach Wall Street a lesson buy buying up a stock ("pumping" the stock's value), then dump it once the value is near its high, leaving most of the marks holding stock which is rapidly declining in value.

But... you know, Wall Street does this kind of shit every day.

The Securities and Exchange Commission (SEC) declined to comment.


GameStop's stock has surged nearly 700% in the past two weeks,
upping the struggling video retailer's market value from $1.24 billion to more than $10 billion. BlackBerry Ltd is up 185% and on course for its best month ever.

Now, all of that value is illusory bubble value, but at least they made the hedge fund bleed.



38 Here is the real story: The online community they had was able to 'vet' the people giving advice (ie no grifters or fraudsters, cough cough conservative inc cough cough), they were able to hold up the moral of the people involved (cough cough conservative inc cough cough), were able to formulate effective counter arguments to the mainstream consensus (cough cough conservative inc cough cough), and because of that, they now have a scalp (cough cough conservative inc cough cough).

Gee I wonder if there is any lessons for our movement in there
Posted by: Dr. DJ3Way

The squeeze play, explained:

Thanks to Lizzy. She digests the video:


The way it's explained in the video:

1. Hedgefund guy borrows GSE [GameStop] stocks for a set price with agreement to sell back to same person.entity in 3 weeks (or whatever timeframe). Say $60/share.
- - -
2. Hedgefund guy then sells them on the assumption that he will buy them back in a fews weeks at a lower price because GSE is tanking. Sell at $60, then buy back in a few weeks at $30.
- - -
3. At agreed upon time, hedgefund guy then sells his shares, which he reaquired at $30/share back to the original owner for $60/share. That's two transactions where's he's made money offo of the tanking stock price.

What the redditirs did was interrupt the transactions during step 2. Hedgefund guy sold his shares, but then redditors drove up the price -- so he is forced to buy back (per agreement made in step 1) but not at a better price, at a much higher price. Worse, per the agreement in step 1, the sale in step 3 is set price (he can't make up loss).

Oh my goodness:

116 I was telling you guy about this yesterday. I'm a WSB lurker, I don't follow their stock advice since they're wrong like 99% of the time. However, one dude was big on GME over a year ago -- said wall street hated them for no reason, they had strong fundamentals. Put in $50k worth of calls. Hit most of them. Kept reinvesting the money in calls. Some hit, some didn't. Kept on reinvesting. All throughout covid, everything. Anyways, he noticed that the number of shorts were higher then the float (more shorts then stocks available), and was like "um, guys .. am I retarded? Look at this" and next thing you know, here we are. Guys at about $40 million right now.

Basically, every one of those shorts has to be covered. So the hedge funds HAVE to pay the shares from you at some point. And if you're determined to hold on them until you hit $1000 (and they've now moved the goal to $2000), the hedge funds HAVE to buy them at that price to cover their margin. Unless they go bankrupt, then the brokerages have to. Or someone has to get the SEC involved, or get GME to issue more shares, or something. Either way, something has to give.
Posted by: Harry Paratestes

The squeeze aspect comes from margin calls. In order to avoid massive losses themselves, the broker/lenders require the borrower(person shorting) to have a certain amount of value in the account relative to what they borrowed. When you start getting huge paper losses, you get what is called a margin call. This means you have to add more money to the account or buy back the stock and deliver it immediately
Posted by: Red Turban Someguy - The Republic is Already Dead

Mitt Romney hardest hit:

56 No sympathy for anyone. The hedge fund managers have been precipitating business collapse using psychology of the market, and making huge money on that deliberate ruination for years. They rely on people seeing them hedge against a stock and then panic sell so they can then use that to cover their positions and turn a profit. This type of action always had a large potential for a counter-hedge of someone buying into the short sell and then making some investment to blunt the panic sell. Everyone involved was gaming the system. And in my mind it's high time the short sellers got bit in the butt over psychology of the market turning against them. Maybe they will get a little more cautious about trying to make money over a businesses failure.
Posted by: Saintly Akin

More:

224 also, it looks like the hedge funds in question used nacked shorts, which have been illegal since 2009.

Well, illegal for us non-hedge funders. Somehow hedge funds have found a way around it.

Basically, they go to a broker and say "hey, can we borrow 100,000 shares from you?" and the broker says "sure" then they sell those shares on the open market, expecting the price to drop.

At some point, the price "bottoms out," they they buy back 100,000 shares at the bottom, and give them back to the broker.

They literally have no money on the line.

Unless, of course, the stock doesn't go down, and instead goes up, then they have potentially unlimited risk.

Oh, and to make it even better -- the broker can lend those same shares to multiple people. Thus how we get to a shorted position that is larger then literally the entire number of shares being publicly traded. And then what? Well.. we'll find out.
Posted by: Harry Paratestes

Posted by: Ace at 12:21 PM




Comments

(Jump to bottom of page)

1 4

Posted by: Deep State 910 at January 27, 2021 12:22 PM (+RZls)

2 news to me!

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:23 PM (LvTSG)

3 Theyre hating on Elon for cheering these guys on.

Posted by: Jean at January 27, 2021 12:23 PM (Xih1H)

4 Translation: How dare the PEASANTS find a way to game the stock market to their benefit, only BILLIONAIRES who run hedge funds & large banks can do that

==========

The market must be managed by the right people.

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:24 PM (LvTSG)

5 They're "monitoring" activity now, because it's great when billionaires coordinate this shit, but certainly not us plebs.

Posted by: clutch cargo | with concentrated China Virus stain fighters at January 27, 2021 12:24 PM (L8ADy)

6 Turnabout / Fairplay

Posted by: garrett at January 27, 2021 12:24 PM (d8MLD)

7 Couldn't have happened to a nicer bunch of folks.

Posted by: WitchDoktor, off to the great beyond. at January 27, 2021 12:24 PM (C+We0)

8 Frozen concentrated orange juice

Posted by: Archer at January 27, 2021 12:24 PM (gmo/4)

9 GameStop's stock has surged

Excuse me, only I am allowed to surge.

Posted by: COVID Case Numbers at January 27, 2021 12:24 PM (CNMcH)

10 The market must be managed by the right people.

Like Epstein

Posted by: Jean at January 27, 2021 12:25 PM (Xih1H)

11 GameStop's stock has surged nearly 700% in the past two weeks,

------

I almost NEVER buy a naked put.

But I am SORELY tempted.

Posted by: fixerupper at January 27, 2021 12:25 PM (3j8Qf)

12 9 GameStop's stock has surged

Excuse me, only I am allowed to surge.
Posted by: COVID Case Numbers at January 27, 2021 12:24 PM (CNMcH)

==========

*taps foot impatiently*
-War Deaths

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:25 PM (LvTSG)

13 Tell him the best part, Mortimer

Posted by: Archer at January 27, 2021 12:25 PM (gmo/4)

14 This doesn't look like a classic pump-and-dump in a penny stock. This looks more like the targeted assassination of a hedge fund. That is not at all the same game. Some will make some money on this, but most will lose (and most of the losers won't care - they were in it for the entertainment value of killing a hedge fund).

Welcome to the crazy years. Bring it on.

Posted by: Joe Mannix (Not a cop!) at January 27, 2021 12:26 PM (UZVEt)

15 thanks to anti-white discrimination in College and Corporate America, there's an ever growing army of smart but under-employed white dudes who wanna see the system burn -- and have the brainpower needed to burn it

Posted by: CordCutterJones at January 27, 2021 12:26 PM (gyAiF)

16 It.Moved.

Posted by: G'rump928(c) at January 27, 2021 12:26 PM (yQpMk)

17 This is like the Pool Scene from Caddyshack.


Which should already be posted Up There.

Posted by: garrett at January 27, 2021 12:26 PM (d8MLD)

18 this is brilliant. and i love that NOW that the proles have found a way to duplicate our activities, it's time to stop (them) and prevent it from happening again.

sort of like a recent election.

I'm sensing a theme...

Posted by: SturmToddler at January 27, 2021 12:26 PM (8D42x)

19 finally a use for social media.

Posted by: Inspector Kemp at January 27, 2021 12:26 PM (EwPKb)

20 Frozen concentrated orange juice
Posted by: Archer at January 27, 2021 12:24 PM (gmo/4)

---------

Or pork bellies which you might use to make a bacon, lettuce, and tomato sandwich.

Posted by: Duke Lowell at January 27, 2021 12:26 PM (kTF2Z)

21 Ooops time to change the rules....after the fact.

Posted by: BignJames at January 27, 2021 12:26 PM (AwYPR)

22 Im tempted to go in a buy a stuff Mario doll, just because

Posted by: Jean at January 27, 2021 12:26 PM (Xih1H)

23 Will someone get this damned gorilla off of me!

Posted by: Clarence Beeks at January 27, 2021 12:26 PM (xxG/v)

24 I don't believe you can sell shares you don't own. (???)

The way I understand it, you 'borrow' the shares from a Brokerage House, or the Company itself, for a fee. Say, 5% for 30 days. Then you sell them and pocket the money with the idea that you expect the shares to drop and you can buy them up to replace the borrowed shares at a much reduced price, pocketing the difference.

Posted by: Uncle Rick at January 27, 2021 12:26 PM (48/MM)

25 I hope this is just the start. Hit 'em where they live.

Posted by: clutch cargo | with concentrated China Virus stain fighters at January 27, 2021 12:26 PM (L8ADy)

26 Good.

Posted by: Insomniac - Zhou Bai-Den Is Not My Chairman at January 27, 2021 12:26 PM (nakwk)

27 The hedge fund was betting on Game Spot to lose money by selling shares it didn't have.


Funny how that works.
I sell something I don't own, it's fraud.
Wall Street sells something they don't own and it's cool.

Posted by: rickb223 at January 27, 2021 12:27 PM (0mP7b)

28 That's a simplistic view of how short selling works, and mostly accurate.

To sell the shares though, they must be borrowed from someone that owns the stock. This is usually done without the knowledge of the shareholder. However, if the actual owner sells his shares, the borrowed shares must be repurchased and given to the original shareholder. This is a random draw. So, there's actually a second level of risk to the short seller in that they may not be able to ride their short to the market's bottom.

Posted by: Texas99 at January 27, 2021 12:27 PM (VRg+C)

29 Never bet what you cant afford to lose... but hey I'm only spending $50 of my profit from Miller/Coors on Nokia. Remember the little phone that could?

Posted by: IP at January 27, 2021 12:27 PM (isHRY)

30 The way I understand it, you 'borrow' the shares from a Brokerage House, or the Company itself, for a fee. Say, 5% for 30 days. Then you sell them and pocket the money with the idea that you expect the shares to drop and you can buy them up to replace the borrowed shares at a much reduced price, pocketing the difference.

-----

Margin.

Posted by: fixerupper at January 27, 2021 12:27 PM (3j8Qf)

31 As I said this morning... Ha, ha. Some asshole on Bloomberg news is pissed that Elon Musk stuck
his nose into the short-selling Games stock with a tweet! How dare he
mock short-sellers and agencies! [Addendum: The tweet was a brief one like "I guess 4chan got hold of a Bloomberg monitor [AC: or console or something -- I can't recall exactly.]"

Posted by: zombie henry viii at January 27, 2021 12:27 PM (d6he9)

32 So when do we get to see Jamie Lee Curtis topless?

Posted by: Mark1971 at January 27, 2021 12:27 PM (xPl2J)

33
Somebody on Varney this AM said the Reddits might push
price up so high that there will be no buyers. Then what?

Posted by: Glenn John at January 27, 2021 12:27 PM (LilNs)

34 Yeah, what's good for the goose is good for the gander, so suck it

Posted by: Kat_man at January 27, 2021 12:27 PM (UfYsr)

35 for the entertainment value of killing a hedge fund )

fixed

Posted by: Jean at January 27, 2021 12:27 PM (Xih1H)

36 A heartwarming story.

Although paradoxically, NOW would be a good time to short the stock, if one were so inclined.

Posted by: Deplorable Jay Guevara at January 27, 2021 12:27 PM (YnEiF)

37 TD Ameritrade has put "restrictions" on Gamestop and AMC transactions. Over at ZeroHedge.

/more corporations helping other corporations...

Posted by: shibumi at January 27, 2021 12:28 PM (ZCiJZ)

38 Here is the real story: The online community they had was able to 'vet' the people giving advice (ie no grifters or fraudsters, cough cough conservative inc cough cough), they were able to hold up the moral of the people involved (cough cough conservative inc cough cough), were able to formulate effective counter arguments to the mainstream consensus (cough cough conservative inc cough cough), and because of that, they now have a scalp (cough cough conservative inc cough cough).

Gee I wonder if there is any lessons for our movement in there

Posted by: Dr. DJ3Way at January 27, 2021 12:28 PM (bhPL1)

39 20 Frozen concentrated orange juice
Posted by: Archer at January 27, 2021 12:24 PM (gmo/4)

---------

Or pork bellies which you might use to make a bacon, lettuce, and tomato sandwich.
Posted by: Duke Lowell at January 27, 2021 12:26 PM (kTF2Z)
--------

I'd say you guys are a couple of bookies.

Posted by: Billy Ray at January 27, 2021 12:28 PM (G0vdT)

40 this has been so much fun to watch.
I expect the hedge fund managers will be whining to the SEC and the dems to do something about the proles. we're expected to just pay into our 401ks and STFU

Posted by: brak at January 27, 2021 12:28 PM (cG+eD)

41 The real news here is that Gamestop is even still around.

Also, as it was willowed and I r confused

What puzzles me is what exactly it was about Bernie Sanders that the Democrats felt so compelled to block and cheat the primaries away from. It clearly wasn't his policies, and obviously being electable wasn't an issue.

So why did they fight so hard to stop him two elections in a row?

Posted by: Christopher R Taylor at January 27, 2021 12:28 PM (KZzsI)

42 The thing was, the "savants" in the hedge funds shorted more than 100% of the available stock.

They literally shorted against something like 140% of available stock. The WSB forum noticed that the supply of stock was "low" and that when the shorts got called, the demand would be through the roof. And so they bought and are holding. Which is a classic short squeeze.

The hedge funds have lost *billions*

Posted by: Gman at January 27, 2021 12:28 PM (GfWuY)

43 I wouldn't mind losing a hundred bucks a week if it bankrupted Soros or Romney.

Posted by: G'rump928(c) at January 27, 2021 12:28 PM (yQpMk)

44 Somebody on Varney this AM said the Reddits might push
price up so high that there will be no buyers. Then what?
Posted by: Glenn John

The hedge fund is the buyer

Posted by: Jean at January 27, 2021 12:28 PM (Xih1H)

45 This 4 minute explains what happened in simple terms:

https://youtu.be/8R9-UjABdX0

Posted by: Lizzy at January 27, 2021 12:28 PM (bDqIh)

46 Sauce for the goose, eh, Wall Street?

Posted by: exdem13 at January 27, 2021 12:28 PM (W+kMI)

47 I'm very interested to seeing what the SEC is going to do with this. How will they invent a violation of law?

Posted by: WitchDoktor, off to the great beyond. at January 27, 2021 12:29 PM (C+We0)

48 Burn it all down, salt, scatter. Repeat.

Posted by: Jak Sucio at January 27, 2021 12:29 PM (jvt6t)

49 44 Somebody on Varney this AM said the Reddits might push
price up so high that there will be no buyers. Then what?
Posted by: Glenn John

The hedge fund is the buyer
Posted by: Jean at January 27, 2021 12:28 PM (Xih1H)

==========

And the world loses one hedge fund.

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:29 PM (LvTSG)

50 It's worth noting that both the left and the right are enjoying the hell out of this, because it's the proles targeting the grifter class.

Posted by: Ian S. at January 27, 2021 12:29 PM (ZGrMX)

51 Theyre hating on Elon for cheering these guys on.
Posted by: Jean at January 27, 2021 12:23 PM (Xih1H)
++++
Musk didn't exactly cheer them on. He made a comment about it. I also don't think he encouraged anyone to jump in. Most of the people who are going to get their faces ripped off when the stock price tanks after the short sellers perish (probably the end of the week) are those who heard about (or read) Musk's tweet and the MSM reporting that followed it, and then jumped in after doing no research.

That is the real lesson in this. If inflating a stock beyond reason with small amounts of money you're comfortable losing is worth it to you for the ulterior motives (hostility to the counterparty, entertainment at watching a hedge fund collapse, whatever), then cool. Go for it. It's just entertainment like going to a movie or a sports game.

But if you blindly follow a trend without looking into it or understanding it, you *will* lose more than the entertainment value.

Posted by: Joe Mannix (Not a cop!) at January 27, 2021 12:29 PM (UZVEt)

52 So Reddit pulled a Soros on wannabe Soroses?

Good and Hard can be played by the masses against the 1% as well.

Well, until the 1% change the rules anyway.

Posted by: Bete at January 27, 2021 12:29 PM (Ojki1)

53 Plastics son,,,plastics.

Posted by: Ddad at January 27, 2021 12:29 PM (u35cg)

54 The billionaires got used to being able to manipulate and forgot the fact that the market, by definition (it's *everyone*), is bigger than *anyone*.

Of course this is just some folks being uncooperative, and not nearly as punishing as the inevitable reversal of the debt bubble.

Posted by: Methos at January 27, 2021 12:29 PM (kOpft)

55 This is funnier than Plumper Porn.

Posted by: garrett at January 27, 2021 12:29 PM (d8MLD)

56 Or pork bellies which you might use to make a bacon, lettuce, and tomato sandwich.
Posted by: Duke Lowell at January 27, 2021 12:26 PM


*breaks fourth wall*

*rolls eyes*

Posted by: RedMindBlueState at January 27, 2021 12:29 PM (ejd/p)

57 According to cnbc (yeah, i know), the hedge fund has covered and pulled out of the short.

Posted by: Jak Sucio at January 27, 2021 12:30 PM (jvt6t)

58 Brokers are now putting arbitrary restrictions on GME and AMC trading, especially TD Americtrade. They've never done this before.
Some think the brokerages are now exposed by the short positions of their clients. Others argue that they're trying to stop the bleeding of their friends.
For 20 years none of them said a word about the stock-pumping shows broadcast all day on CNBC. How is this Redditor shit any different than the Jim Cramer's of the world pumping their own book and being paid huge money to scream "BUY BUY BUY" on TV?

Posted by: Brian in New Orleans at January 27, 2021 12:30 PM (CQ3Qb)

59 If I had it to do over again, I'd stick with bootlegging.

OK, kidding. Fuckers.

Posted by: Joseph Kennedy at January 27, 2021 12:30 PM (sWM8x)

60 "We can remain retarded for longer than they can remain solvent."
-Poetry

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:30 PM (LvTSG)

61 I almost NEVER buy a naked put.

But I am SORELY tempted.
Posted by: fixerupper at January 27, 2021 12:25 PM (3j8Qf)

Do you mean "buy a put", in the thought that the stock will go down?

A "naked put" infers that you sold the put, without having having a hedge on, or the stock to back it up.

Posted by: browndog at January 27, 2021 12:30 PM (BgMrQ)

62 Take notes. This is a valid front to fight on.

Posted by: Brother Tim sez: All Hail BRIAN BLESSED! at January 27, 2021 12:30 PM (OUMaO)

63 TJ Ameritrade has cancelled and rolled back trades of mine before, never in my favor of course always when I made a decent bit.

Posted by: Jean at January 27, 2021 12:30 PM (Xih1H)

64 KFC
@KFCBarstool
If you're dumb like I am, here's a quick 5 minute video of what's happening withGameStop and Wall Street $GME. The Robinhood Reddit bros are making millions and essentially took out an entire hedge fund. David vs Goliath. POWER OF THE INTERNET

tinyurl.com/3st3oz7x

Posted by: redridinghood at January 27, 2021 12:30 PM (NpAcC)

65 GameStop's stock has surged



Excuse me, only I am allowed to surge.

Posted by: COVID Case Numbers at January 27, 2021 12:24 PM (CNMcH)

Fuck you.

Posted by: Middle East US Troop Levels at January 27, 2021 12:30 PM (kOpft)

66 FIZZ, BBBY and BB are next unless restrictions are put on them too.

Posted by: Brian in New Orleans at January 27, 2021 12:31 PM (CQ3Qb)

67 Now if only these Reddits harnessed their power in other ways. Things could get sporty.

Posted by: clutch cargo | with concentrated China Virus stain fighters at January 27, 2021 12:31 PM (L8ADy)

68 TD Ameritrade has put "restrictions" on Gamestop and AMC transactions. Over at ZeroHedge.



/more corporations helping other corporations...

Posted by: shibumi at January 27, 2021 12:28 PM (ZCiJZ)

Before the end of the day, I am guessing that Wall Street will get their pound of flesh out of upstart Robin Hood.

Posted by: 4 at January 27, 2021 12:31 PM (KnJdm)

69 Boy I sure hope no one does that to that creep Warren Buffett's BNSF railroad holdings. You know, the one with all the oil taker cars to move the oil that would have gone through the pipeline his buddy Biden just shut down.

Posted by: Archer at January 27, 2021 12:31 PM (gmo/4)

70 Go diesel young man.. Diesel is the way of the future.

Posted by: Volkswagon at January 27, 2021 12:31 PM (isHRY)

71 my guess is the guys who had the early shorts have already took their medicine

and a lot of the insiders have sold a lot of shares this month

for between 21 and 31 a share

Posted by: REDACTED at January 27, 2021 12:31 PM (zZxh0)

72 >>Somebody on Varney this AM said the Reddits might push price up so high that there will be no buyers. Then what?


As part of the short, the hedge fund guy is *required* to buy back because he had agreed to sell back his shares to the original owners -- at a set price. Sadly for him, he will not be buying back at a lower price, so he is losing bigly. He screwed himself.

Watch the video I posted at #45 (i think)

Posted by: Lizzy at January 27, 2021 12:31 PM (bDqIh)

73 I'm posting here because I was late for the prayer list:

425 BTW, an update regarding my Mom's status:

* She is out of the ICU ward and now at a rehabilitation place. Basically moved from one hospital to another, but at least it's no longer (name deleted) but someplace in Lafayette. I also got lucky in that they were going to send her to Hammond, which is an all day trip there and back.

* Tomorrow I should have a boombox/CD/mp3 player, which I plan to plug in a copy of one of Hadrian's classical music flash thingies to.

* She can't really speak right now, but hopefully she'll at least be able to listen to music and hopefully soon a book-on-tape. I want her to have more options than the television.

Posted by: Thing From Snowy Mountain, Cryptid Anarchist at January 27, 2021 12:31 PM (Clxcy)

74 Somebody on Varney this AM said the Reddits might push
price up so high that there will be no buyers. Then what?


That not how shorts work. They will be legally required to replace the stocks they borrowed. Doesn't matter if it's at $0.50 a share or $10000000.00 a share.

Posted by: Gman at January 27, 2021 12:31 PM (GfWuY)

75 How is this Redditor shit any different than the Jim Cramer's of the world pumping their own book and being paid huge money to scream "BUY BUY BUY" on TV?

Posted by: Brian in New Orleans


They're afraid us Deplorables will figure out they're vulnerable and learn to start striking them where the cash flows.

Posted by: Brother Tim sez: All Hail BRIAN BLESSED! at January 27, 2021 12:31 PM (OUMaO)

76 44
The hedge fund is the buyer.

Why would they pay for something that is over valued?
Don't the Reddits have to sell eventually? Who would pay wildly inflated price?

Posted by: Glenn John at January 27, 2021 12:32 PM (LilNs)

77 #31 Off anti-Papist wife-killing sock.

And what are they upset about? It's just people investing their $600 in the stock market!

Posted by: andycanuck at January 27, 2021 12:32 PM (d6he9)

78 Or pork bellies which you might use to make a bacon, lettuce, and tomato sandwich.
Posted by: Duke Lowell at January 27, 2021 12:26 PM (kTF2Z)
--------

I'd say you guys are a couple of bookies.
Posted by: Billy Ray at January 27, 2021 12:28 PM


You see? I knew he'd understand.

Posted by: Randolph Duke at January 27, 2021 12:32 PM (ejd/p)

79 Spock groks stocks.

Posted by: Spock at January 27, 2021 12:32 PM (HI3xr)

80 Have to say the restrictions are bullshit. Breaking shorts or longs isn't new in the financial world. George Soros made his fortune breaking the bank of England.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 12:32 PM (Zm+LZ)

81 Am I right that Gamestop was on the radar at all because someone had just bought a significant share and was trying to rescue it?

There was a report maybe 10 days ago that GME was up like 5000% from it's low, after this guy--some former .com CEO maybe?--had come to the company to try to save it after he bought a decent position in the stock.

So was this brokerage coming in after that initial rise to try to drive a stake in GME?

Posted by: TexasDan at January 27, 2021 12:32 PM (2HIdp)

82 75 They're afraid us Deplorables will figure out they're vulnerable and learn to start striking them where the cash flows.
Posted by: Brother Tim sez: All Hail BRIAN BLESSED! at January 27, 2021 12:31 PM (OUMaO)

==========

At least we're not trying to crash airplanes like Le Chiffre.

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:32 PM (LvTSG)

83 And the world loses one hedge fund.
Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:29 PM (LvTSG)
++++
Probably several, and the taxpayer is going to take it in the shorts, too. The hedge fund has been and will continue to be bailed out, largely by other hedge funds but I guarantee you there's a Fed backstop there somewhere because there is *always* a Fed backstop somewhere. The hedge funds broken by this will vanish but their surplus liabilities will likely be transferred to the Federal Reserve, all nice and secret-like.

Because ours is a fair, honest and transparent system.

Posted by: Joe Mannix (Not a cop!) at January 27, 2021 12:33 PM (UZVEt)

84 Plastics son,,,plastics.
Posted by: Ddad


Because the Whine Mom's are always gonna need their dildos.

Posted by: rickb223 at January 27, 2021 12:33 PM (0mP7b)

85 s I said this morning... Ha, ha. Some asshole on Bloomberg news is pissed that Elon Musk stuck
his nose into the short-selling Games stock with a tweet!

****

I would love to hear that Musk threw $1M at it and sold this morning.

Posted by: Your Betters in Perpetual Government at January 27, 2021 12:33 PM (k1L5r)

86 Now if only these Reddits harnessed their power in other ways. Things could get sporty.

Posted by: clutch cargo | with concentrated China Virus stain fighters at January 27, 2021 12:31 PM (L8ADy)

Reddit has already purged overtly conservative concerns. But it's a nice thought. In this instance, righties find common cause with lefties. The lesson here, I think, is to find other common causes that mass action can impact "their" corrupt systems.

Posted by: 4 at January 27, 2021 12:33 PM (KnJdm)

87 Power to the little people.

F the commie elites.

Posted by: Czech Chick at January 27, 2021 12:33 PM (haWye)

88 41 What puzzles me is what exactly it was about Bernie Sanders that the Democrats felt so compelled to block and cheat the primaries away from. It clearly wasn't his policies, and obviously being electable wasn't an issue.

So why did they fight so hard to stop him two elections in a row?
==========
Three reasons:
1. Sanders, like Trump, isn't part of The Club. No matter what he gets, he'll never be allowed into the inner circle.
2. Hillary Clinton is a stupid egotistical cow.
3. Sanders is an actual True Believer, and the DNC won't allowed shiny-eyed revolutionaries into the inner circle. Cynicism and corruption must prevail first.

Posted by: exdem13 at January 27, 2021 12:33 PM (W+kMI)

89 TJ Ameritrade has cancelled and rolled back trades of mine before, never in my favor of course always when I made a decent bit.

Posted by: Jean at January 27, 2021 12:30 PM (Xih1H)

15 mins after the market opened this morning eTrade reversed an after-hours buy I made yesterday in AMC that was up 200%.

Posted by: Brian in New Orleans at January 27, 2021 12:34 PM (CQ3Qb)

90 Jen Psucky is TERRIBLE at this.

Reporter: Hey, why did Joe Biden eliminate that executive order banning China from infiltrating and harming our power grid. The power grid is like, really important.

Psucky: Joe has a view on our relationship with China, and I need to get back to you on that.

https://bit.ly/3sWZt4N

Posted by: bonhomme at January 27, 2021 12:34 PM (i0wNm)

91 How is this Redditor shit any different than the Jim Cramer's of the world pumping their own book and being paid huge money to scream "BUY BUY BUY" on TV?

Anyone who buys a stock on the basis of someone like Cramer touting it, or someone claiming that the "smart money" is doing it, deserves to the righteous financial rogering he will soon get.

Posted by: Deplorable Jay Guevara at January 27, 2021 12:34 PM (YnEiF)

92 A prize fighter in a corner is told
Hit where it hurts
Silver and gold
Silver and gold,

Posted by: Jak Sucio at January 27, 2021 12:34 PM (jvt6t)

93 The thing they hate is that it isnt one rich dude breaking another, that's just the game. Its when thousands of proles jump in together and spoil their fun.

Posted by: Jean at January 27, 2021 12:35 PM (Xih1H)

94 Posted by: Thing From Snowy Mountain, Cryptid Anarchist at January 27, 2021 12:31 PM (Clxcy)

Thx for the update. Wil pray for your mom. It's loving and thoughtful of you to think of other options for your mom than the T.V.

Posted by: FenelonSpoke at January 27, 2021 12:35 PM (VP4Cd)

95 The hedge fund should just buy all of Gamestop's POP figures as an "investment" next time, though that seems to be about 25% of their stores anyway.

Posted by: Bete at January 27, 2021 12:35 PM (Ojki1)

96 They apparently didn't learn from Gamergate. Don't piss off gamers.

Posted by: Iasonas at January 27, 2021 12:35 PM (IVj0Y)

97 15 mins after the market opened this morning eTrade reversed an after-hours buy I made yesterday in AMC that was up 200%.
Posted by: Brian in New Orleans at January 27, 2021 12:34 PM (CQ3Qb)

-----

No way.

Software companies and bean counters NEVER do evil shit.... right?

Posted by: fixerupper at January 27, 2021 12:35 PM (3j8Qf)

98 How long before TwitterYouTubeFacebook bans these violent subversive and probably racist discussions of Gamestop?

Posted by: Huck Follywood, Fopps News Sucks at January 27, 2021 12:35 PM (uRfvC)

99 Quick we need a trillion dollar stimulus package to bail these poor hedge fund managers out. Amirite fellow patriotic patriots who love patriotism? Send $100 today.
- GOP

Posted by: Joe XiDen at January 27, 2021 12:35 PM (p847M)

100 Don't the Reddits have to sell eventually? Who would pay wildly inflated price?
Posted by: Glenn John at January 27, 2021 12:32 PM (LilNs)

Maybe, but that isn't the point of what they're doing here.

Posted by: Vanya at January 27, 2021 12:35 PM (gAFsE)

101 Don't the Reddits have to sell eventually? Who would pay wildly inflated price?

The short-sellers have to, to close out their positions. From what I've read, two of the most-exposed hedge funds have done that already, so at this point I'm not sure who's left holding the bag.

Posted by: spindrift at January 27, 2021 12:36 PM (CNMcH)

102 My question (and my worry) is - why hasn't Reddit shut down /r/wallstreetbets like they did with /r/thedonald? They clearly play for Team Communist, so why did they permit this? I suspect they have an ulterior motive in allowing this to proceed apace... or maybe they're just idiots. Either is possible. In this stupid world of ours, all things are possible.

Posted by: Yudhishthira's Dice at January 27, 2021 12:36 PM (Bvn1K)

103 So go long on football pads, gasoline, and crossbows?

Posted by: callsign claymore at January 27, 2021 12:36 PM (mmKPT)

104 Am I right that Gamestop was on the radar at all because someone had just bought a significant share and was trying to rescue it?

It was mostly on the radar because it came out that 140% of the shares had been shorted, which presents a significant opportunity for fuckery. Shorting something that doesn't exist would be considered fraud if you or I did it, but it's SOP among these hedge funds and associated Mitt Romney types.

Posted by: Ian S. at January 27, 2021 12:36 PM (ZGrMX)

105 The hedge funds PB's are also gonna take a bath on this. There are some very panicked people on the street right now.

Posted by: Marcus T at January 27, 2021 12:36 PM (epasQ)

106 It's been just as big a thing on 4chan, which is more "libertarian-right-chaos" than left. Reddit is left wing. Hating on hedge funds unites the left and right.

Posted by: brak at January 27, 2021 12:36 PM (cG+eD)

107 Posted by: bonhomme at January 27, 2021 12:34 PM (i0wNm)

I'm actually surprised a reporter actually asked that question.

Posted by: FenelonSpoke at January 27, 2021 12:36 PM (VP4Cd)

108 Just remember Bacharach's short & fast rule of investment. Bulls make money. Bears make money. Pigs get slaughtered.

Posted by: exdem13 at January 27, 2021 12:36 PM (W+kMI)

109 So was this brokerage coming in after that initial rise to try to drive a stake in GME?
Posted by: TexasDan at January 27, 2021 12:32 PM (2HIdp)

Gordon Gecko is in prison.

Posted by: Deep State 910 at January 27, 2021 12:36 PM (+RZls)

110 this is why they all live in the shithole known as NYC

the whispers at the cocktail parties is priceless

Posted by: REDACTED at January 27, 2021 12:36 PM (zZxh0)

111 I wouldn't trust CNBC on their reporting and the redditors at that page are calling them on it because the activity doesn't warrant that headline.

CNBC lets these hedge fund guys come on their shows, tank companies who they also just so happen to be shorting and never question a damn thing.

CNBC is complicit in the fraud.

Posted by: H Badger at January 27, 2021 12:36 PM (n/0Nw)

112 TJ Ameritrade has cancelled and rolled back trades of mine before, never in my favor of course always when I made a decent bit.

Posted by: Jean at January 27, 2021 12:30 PM (Xih1H)

15 mins after the market opened this morning eTrade reversed an after-hours buy I made yesterday in AMC that was up 200%.
Posted by: Brian in New Orleans

Yep, I would trade from the sandbox and get screwed. Funny thing, they never reversed a loss.

Posted by: Jean at January 27, 2021 12:36 PM (Xih1H)

113 Mmmm....pump and dump.

So wrong, but it feels so good.

Posted by: Mark Andrew Edwards, Logan Tiberius Edwards (2012-2021) at January 27, 2021 12:36 PM (ifmtJ)

114 Jen Psucky is TERRIBLE at this.

Reporter: Hey, why did Joe Biden eliminate that executive order banning China from infiltrating and harming our power grid. The power grid is like, really important.

Psucky: Joe has a view on our relationship with China, and I need to get back to you on that.


She needs to just hold these briefings topless. Otherwise, there's just no point in her having them. (The briefings, that is. Actually, that works either way.)

Posted by: Deplorable Jay Guevara at January 27, 2021 12:36 PM (YnEiF)

115 I think also that unlike a regular long position, short positions are subject to the dreaded "margin call"

Posted by: Eisenhorn at January 27, 2021 12:37 PM (wzqPr)

116 I was telling you guy about this yesterday. I'm a WSB lurker, I don't follow their stock advice since they're wrong like 99% of the time. However, one dude was big on GME over a year ago -- said wall street hated them for no reason, they had strong fundamentals. Put in $50k worth of calls. Hit most of them. Kept reinvesting the money in calls. Some hit, some didn't. Kept on reinvesting. All throughout covid, everything. Anyways, he noticed that the number of shorts were higher then the float (more shorts then stocks available), and was like "um, guys .. am I retarded? Look at this" and next thing you know, here we are. Guys at about $40 million right now.

Basically, every one of those shorts has to be covered. So the hedge funds HAVE to pay the shares from you at some point. And if you're determined to hold on them until you hit $1000 (and they've now moved the goal to $2000), the hedge funds HAVE to buy them at that price to cover their margin. Unless they go bankrupt, then the brokerages have to. Or someone has to get the SEC involved, or get GME to issue more shares, or something. Either way, something has to give.

Posted by: Harry Paratestes at January 27, 2021 12:37 PM (UPoLF)

117 So go long on football pads, gasoline, and crossbows?
Posted by: callsign claymore at January 27, 2021 12:36 PM


And colanders.

Posted by: RedMindBlueState at January 27, 2021 12:37 PM (ejd/p)

118 74 "Somebody on Varney this AM said the Reddits might push
price up so high that there will be no buyers. Then what?"

That not how shorts work. They will be legally required to replace the stocks they borrowed. Doesn't matter if it's at $0.50 a share or $10000000.00 a share.
Posted by: Gman at January 27, 2021 12:31 PM (GfWuY)

Yeah short sellers eventually have to return the stock they sold.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 12:37 PM (Zm+LZ)

119 Three reasons:

I'd say 1 and 3 are the tellers.

He's not part of the insiders club and he actually believes all this, rather than just getting rich and powerful and having sex with terrified foreign tweens. He's not part of the graft, he really thinks these ideas will work.

Posted by: Christopher R Taylor at January 27, 2021 12:37 PM (KZzsI)

120 WHERE THE HELL IS BEEKS?

Posted by: MAGA (stop the steal link in this nic) at January 27, 2021 12:37 PM (u1VX8)

121 Wasn't Musk supposed to shut his mouth about equities?
I know he was dinged talking up his own stock, but geez, have some sense and just shut the fuck up about equities across the board, you dimwitted asshoe.

Posted by: Deplor4ble I4n G4lt at January 27, 2021 12:37 PM (ufFY8)

122 I think also that unlike a regular long position, short positions are subject to the dreaded "margin call"
Posted by: Eisenhorn at January 27, 2021 12:37 PM (wzqPr)

------

Naked puts. Even worse.

Posted by: fixerupper at January 27, 2021 12:37 PM (3j8Qf)

123 103 So go long on football pads, gasoline, and crossbows?
Posted by: callsign claymore at January 27, 2021 12:36 PM (mmKPT)

This is the way.

Posted by: Mark Andrew Edwards, Logan Tiberius Edwards (2012-2021) at January 27, 2021 12:38 PM (ifmtJ)

124 76 Glenn John,
No, going long means you actually own the stock. Reddit folks actually bought shares in GameStop and their loss is capped if the stock actually goes to zero. You do not have to sell stock ownership at all. Shorts though, you are borrowing shares with the idea that the stock price will be lower in the near future but upon the expiration date of the short, you have to buy shares at whatever price to repay the original owner. Your exposure to loss is whatever the difference is between the market price and the price that you 'sold' the borrowed shares.

Posted by: whig at January 27, 2021 12:38 PM (pO7gM)

125
Thanks for all the info y'all. Gman, Jean and Vanya.

Posted by: Glenn John at January 27, 2021 12:38 PM (LilNs)

126 Regardless of whether our clients make money or lose money, Duke and Duke always makes a commission.

Posted by: Archer at January 27, 2021 12:38 PM (gmo/4)

127 I added Lizzy's video in the post. It's very good.

The really cool twist here is that because the hedge fund borrowed the stock, and is legally obligated to buy it (in order to be able to sell it), all of the inflated value of the stock has to be paid for by the hedge funds themselves. So they'll be the ones left holding the bag.

Posted by: ace at January 27, 2021 12:38 PM (5+1A/)

128 My question (and my worry) is - why hasn't Reddit shut down /r/wallstreetbets like they did with /r/thedonald? They clearly play for Team Communist, so why did they permit this? I suspect they have an ulterior motive in allowing this to proceed apace... or maybe they're just idiots. Either is possible. In this stupid world of ours, all things are possible.
Posted by: Yudhishthira's Dice at January 27, 2021 12:36 PM (Bvn1K)

Hard lefty true believers hate wall street too.

Posted by: Vanya at January 27, 2021 12:38 PM (gAFsE)

129 Why would they pay for something that is over valued?

Don't the Reddits have to sell eventually? Who would pay wildly inflated price?

Posted by: Glenn John at January 27, 2021 12:32 PM (LilNs)

In a short transaction, you are contractually obligated to provide the shares back to who you borrowed them to sell them in the first step of the short sale. Contracts still mean things in courts where people have money.
That they cannot purchase at the wildly inflated price makes them insolvent, at which time, their only option is to file for bankruptcy protection, unless some bigger concern covers their position, which appears to be happening a bit at the moment.

Posted by: 4 at January 27, 2021 12:38 PM (KnJdm)

130 So that's what happened.

And yes "pump and dump" is part and parcel of Wall Street. But I bet 'Thousand Millimeter' Reich will be right there to save his investor buddies like he did when they lost their shirts when Mexico's bubble collapsed.

Posted by: Anna Puma at January 27, 2021 12:38 PM (2UAWY)

131 My question (and my worry) is - why hasn't Reddit shut down /r/wallstreetbets like they did with /r/thedonald? They clearly play for Team Communist, so why did they permit this?

It would move to the chans or discord

Posted by: Jean at January 27, 2021 12:38 PM (Xih1H)

132 My question (and my worry) is - why hasn't Reddit shut down /r/wallstreetbets like they did with /r/thedonald? They clearly play for Team Communist, so why did they permit this?

WallStreetBets is leftist. This happens to be a case where both Bernie Bros and deplorables can enjoy Schumer/Romney types getting roasted on an open fire.

Posted by: Ian S. at January 27, 2021 12:38 PM (ZGrMX)

133 My question (and my worry) is - why hasn't Reddit shut down /r/wallstreetbets like they did with /r/thedonald? They clearly play for Team Communist, so why did they permit this? I suspect they have an ulterior motive in allowing this to proceed apace... or maybe they're just idiots. Either is possible. In this stupid world of ours, all things are possible.
Posted by: Yudhishthira's Dice at January 27, 2021 12:36 PM (Bvn1K)
++++
Panic, I reckon. They'll quash it when this chapter closes. They lost this round and they might cause more damage by shuttering the forum. They'll likely shutter it soon after the hedge funds finish blowing up and the users who bought the stock either take their profits or eat their losses.

Post-controversy, it'll be gone. Right now, the damage is done and it's good for traffic.

Posted by: Joe Mannix (Not a cop!) at January 27, 2021 12:38 PM (UZVEt)

134 They're afraid us Deplorables will figure out they're vulnerable and learn to start striking them where the cash flows.
^^^^This. Although its not common knowledge, significant bets were made against airlines just prior to 9-11 by moneyed, mid east, muzzie madmen with terrorist ties. The CIA spent quite a bit of time unraveling this. If 80 million pissed off victims of a stolen election decide they want to start gaming the moneyed thieves, well its time to go long on popcorn. Buckle your seatbelts, watch your trailing stops, its going to be a bumpy ride.

Posted by: The Walking Dude at January 27, 2021 12:38 PM (cCxiu)

135 Am I right that Gamestop was on the radar at all
because someone had just bought a significant share and was trying to
rescue it?

Posted by: TexasDan at January 27, 2021 12:32 PM (2HIdp)

GME got on the radar when people realized there was 130% more shares sold short than existed. The closest thing to this is the Volkswagon short squeeze a decade or so ago. Porsche quietly increased their holding to 77% of the float and issued a press release announcing it and that they wouldn't be selling any time soon. That imploded those who held short positions larger than the shares left on the market. A couple weeks later Porsche cashed in $30 billion. That cash saved Porsche from bankruptcy.

Posted by: Brian in New Orleans at January 27, 2021 12:39 PM (CQ3Qb)

136 Psucky: Joe has a view on our relationship with China, and I need to get back to you on that.

"Has a view". O.k., Jen, great answer.

Posted by: FenelonSpoke at January 27, 2021 12:39 PM (VP4Cd)

137 116
Posted by: Harry Paratestes at January 27, 2021 12:37 PM

This similar to how currencies get broken. There's a finite number of X available to pay a greater number of Y off. If you can force it to come due, the pricing disparity goes crazy.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 12:39 PM (Zm+LZ)

138 The reddit gamers aren't so much worried about taking a loss. There are probably thousands of individuals working together on this. In the aggregate they can cause some serious damage to the big hedge fund guys though.
Check out the actual wallstreetbets forum on reddit. It's interesting stuff. These gamers organized and weaponized themselves. It could be a teachable moment somehow.

Posted by: Iasonas at January 27, 2021 12:39 PM (IVj0Y)

139 Oh, big caveat to all of that -- there will DEFINITELY be people left holding the bag that aren't hedge funders. Once the stocks start to sell, and the panic spreads, the hedge funds will buy on the downslope to cover their margins.

It'll still massively fuck the hedge funds though, obviously, since they're mostly in at a basis of $10 or less and now have to pay hundreds for each share. But retail investors will totally get screwed too. Many on WSB don't care, they're doing this to prove a point to wall street.

Posted by: Harry Paratestes at January 27, 2021 12:39 PM (UPoLF)

140 It was mostly on the radar because it came out that 140% of the shares had been shorted, which presents a significant opportunity for fuckery. Shorting something that doesn't exist would be considered fraud if you or I did it, but it's SOP among these hedge funds and associated Mitt Romney types.
Posted by: Ian S. at January 27, 2021 12:36 PM (ZGrMX)

...

I'm just a simple frozen caveman but how do they "borrow" 140% of something?

I mean I know the answer already but holy crap that's jakey.

Posted by: TexasDan at January 27, 2021 12:39 PM (2HIdp)

141 121

He has the right to opine about stocks like everyone else. You also have the right to ignore what he says.

Posted by: Joe XiDen at January 27, 2021 12:39 PM (p847M)

142 108 Just remember Bacharach's short & fast rule of investment. Bulls make money. Bears make money. Pigs get slaughtered.
Posted by: exdem13 at January 27, 2021 12:36 PM (W+kMI)

Didn't know Burt was into finances as well as music?

Perhaps you mean Bernard Baruch...

Posted by: browndog at January 27, 2021 12:39 PM (BgMrQ)

143 WHERE THE HELL IS BEEKS?
Posted by: MAGA (stop the steal link in this nic) at January 27, 2021 12:37 PM


Oh yeah. I forgot about that guy.

Posted by: Billy Ray Valentine (Capricorn) at January 27, 2021 12:39 PM (ejd/p)

144 139 Oh, big caveat to all of that -- there will DEFINITELY be people left holding the bag that aren't hedge funders. Once the stocks start to sell, and the panic spreads, the hedge funds will buy on the downslope to cover their margins.

It'll still massively fuck the hedge funds though, obviously, since they're mostly in at a basis of $10 or less and now have to pay hundreds for each share. But retail investors will totally get screwed too. Many on WSB don't care, they're doing this to prove a point to wall street.
Posted by: Harry Paratestes at January 27, 2021 12:39 PM (UPoLF)

...

So---you're saying we should short GME.

Posted by: TexasDan at January 27, 2021 12:40 PM (2HIdp)

145 I have never understood stocks and the one time I bought some, it flatlined and dipped.
So I stay clear.

Posted by: Diogenes at January 27, 2021 12:40 PM (axyOa)

146 15 mins after the market opened this morning eTrade reversed an after-hours buy I made yesterday in AMC that was up 200%.
Posted by: Brian in New Orleans

Make a formal protest.
that was somebody's trading desk that took that trade.

Posted by: MarkY at January 27, 2021 12:40 PM (i022r)

147 Read The Big Short by Michael Lewis. It's all about how the American public got screwed by Wall Street back in '07-'08. Then watch the movie.

Posted by: Captain Josepha Sabin -- Bitterly clinging to the deplorable life at January 27, 2021 12:40 PM (cLSW1)

148 It was mostly on the radar because it came out that 140% of the shares had been shorted, which presents a significant opportunity for fuckery.

Now THIS I don't understand. How do you borrow 140% of the shares to short them?

Posted by: Deplorable Jay Guevara at January 27, 2021 12:40 PM (q4ZRu)

149 The thought of some Wall Street guy having to go beg another for a Billion dollars over an empty store at the mall run by a fat gamer kid, makes me hard.

Posted by: Jean at January 27, 2021 12:40 PM (Xih1H)

150 up to $326.
Man this is fun.

Posted by: Joe XiDen at January 27, 2021 12:40 PM (p847M)

151 The reddit gamers aren't so much worried about
taking a loss. There are probably thousands of individuals working
together on this. In the aggregate they can cause some serious damage to
the big hedge fund guys though.
Check out the actual wallstreetbets
forum on reddit. It's interesting stuff. These gamers organized and
weaponized themselves. It could be a teachable moment somehow.


Posted by: Iasonas at January 27, 2021 12:39 PM (IVj0Y)

Check out Robin Hood, which my teen nephew brought to me a few weeks back. It allows commission free trades of fractional shares. So any amount of money can be thrown in the pot to play this game.

Posted by: 4 at January 27, 2021 12:40 PM (KnJdm)

152 So---you're saying we should short GME.
Posted by: TexasDan


ain't no stock to borrow.

Posted by: MarkY at January 27, 2021 12:40 PM (i022r)

153 >>Why would they pay for something that is over valued?Don't the Reddits have to sell eventually? Who would pay wildly inflated price?



The way it's explained in the video at #45:
1. Hedgefund guy borrows GSE stocks for a set price with agreement to sell back to same person.entity in 3 weeks (or whatever timeframe). Say $60/share.
- - -
2. Hedgefund guy then sells them on the assumption that he will buy them back in a fews weeks at a lower price because GSE is tankin. Sell at $60, then buy back in a few weeks at $30.
- - -
3. At agreed upon time, hedgefund guy then sells his shares, which he reaquired at $30/share back to the original owner for $60/share. That's two transactions where's he's made money offo of the tanking stock price.

What the redditirs did was interrupt the transactions during step 2. Hedgefund guy sold his shares, but then redditors drove up the price -- so he is forced to buy back (per agreement made in step 1) but not at a better price, at a much higher price. Worse, per the agreement in step 1, the sale in step 3 is set price (he can't make up loss).

Posted by: Lizzy at January 27, 2021 12:40 PM (bDqIh)

154 thanks for the interesting comments. I posted some of them in the main post.

Posted by: ace at January 27, 2021 12:41 PM (5+1A/)

155 96 They apparently didn't learn from Gamergate. Don't piss off gamers.
-------
There is some truth to this. Lots of Americans are gamers, it's a true unifying issue, and too many of the gamers have enforced free time on their hands right now.

Posted by: exdem13 at January 27, 2021 12:41 PM (W+kMI)

156 No sympathy for anyone. The hedge fund managers have been precipitating business collapse using psychology of the market, and making huge money on that deliberate ruination for years. They rely on people seeing them hedge against a stock and then panic sell so they can then use that to cover their positions and turn a profit. This type of action always had a large potential for a counter-hedge of someone buying into the short sell and then making some investment to blunt the panic sell. Everyone involved was gaming the system. And in my mind it's high time the short sellers got bit in the butt over psychology of the market turning against them. Maybe they will get a little more cautious about trying to make money over a businesses failure.

Posted by: Saintly Akin at January 27, 2021 12:41 PM (b82nJ)

157 Sir Lawrence, how would you like to own your own airline and in the process hang Gordon Gecko out to dry?

Posted by: Duke Lowell at January 27, 2021 12:41 PM (kTF2Z)

158 THESE NERDS ARE A THREAT TO OUR WAY OF LIFE!!!

Posted by: buttfucked billionaires at January 27, 2021 12:41 PM (0tE/i)

159 My question (and my worry) is - why hasn't Reddit shut down /r/wallstreetbets like they did with /r/thedonald? They clearly play for Team Communist, so why did they permit this? I suspect they have an ulterior motive in allowing this to proceed apace... or maybe they're just idiots. Either is possible. In this stupid world of ours, all things are possible.
Posted by: Yudhishthira's Dice at January 27, 2021 12:36 PM (Bvn1K)

No, there are a lot of "our people" over there. It's an apolitical sub, but I'd say at least 70% are 4chan types. Zoomers / young millennials who are definitely not on the left, probably voted for Donnie, but aren't traditional conservatives.

And, yes, I, too, expect reddit to shut WSB down at some point. Maybe not right now, since there's so much light on them. Contingency plans are being made.

Posted by: Harry Paratestes at January 27, 2021 12:41 PM (UPoLF)

160 Posted by: Diogenes at January 27, 2021 12:40 PM (axyOa)For most people, long terms investments like a 401k or IRA is usually recommended. The day trading stuff is for Wall Street and the guys who want to be like Wall Street. This Gamestop stuff is an organized revenge plot for the gamer crowd that are ticked off about what Wall Street did to their favorite store.

Posted by: Iasonas at January 27, 2021 12:41 PM (IVj0Y)

161 15 mins after the market opened this morning eTrade reversed an after-hours buy I made yesterday in AMC that was up 200%.
Posted by: Brian in New Orleans

Make a formal protest.
that was somebody's trading desk that took that trade.
Posted by: MarkY

Good luck with that

Posted by: Jean at January 27, 2021 12:42 PM (Xih1H)

162 147

Eh. He put way too much blame on Wall St and virtually no blame on people making $50k a year buying $750k houses which they well knew they could not afford. Much like the msm who treated all those people like victims when they were anything but.

Posted by: Joe XiDen at January 27, 2021 12:42 PM (p847M)

163 How do you borrow 140% of the shares to short them?

I suppose not all of it had to be made whole at the same time.

Posted by: Volkswagon at January 27, 2021 12:42 PM (isHRY)

164 >>Now THIS I don't understand. How do you borrow 140% of the shares to short them?


See video at #45.

Posted by: Lizzy at January 27, 2021 12:42 PM (bDqIh)

Posted by: IP at January 27, 2021 12:42 PM (isHRY)

166 Blue horse shoe loves GameStop.

Posted by: Duke Lowell at January 27, 2021 12:42 PM (kTF2Z)

167 I have never understood stocks and the one time I bought some, it flatlined and dipped.
So I stay clear.
Posted by: Diogenes


*fistbump.

Posted by: rickb223 at January 27, 2021 12:42 PM (0mP7b)

168 Citron is a real POS outfit. Glad they're getting a taste of their own manipulative medicine. This is their entire business model--misinformation and manipulation, short selling, and massive profits--the actual businesses and good faith investors be damned.

Posted by: Links at January 27, 2021 12:42 PM (0keQk)

169 There is some truth to this. Lots of Americans are gamers, it's a true unifying issue, and too many of the gamers have enforced free time on their hands right now.
Posted by: exdem13 at January 27, 2021 12:41 PM (W+kMI)


Video gaming was bigger than professional sports last year.

Posted by: blaster at January 27, 2021 12:42 PM (ZfRYq)

170 Posted by: Lizzy at January 27, 2021 12:40 PM (bDqIh)

The squeeze aspect comes from margin calls. In order to avoid massive losses themselves, the broker/lenders require the borrower(person shorting) to have a certain amount of value in the account relative to what they borrowed. When you start getting huge paper losses, you get what is called a margin call. This means you have to add more money to the account or buy back the stock and deliver it immediately

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 12:43 PM (Zm+LZ)

171 The next great depression caused by Gamestop?

Posted by: Bertram Cabot, Jr. at January 27, 2021 12:43 PM (63Dwl)

172 It was mostly on the radar because it came out that 140% of the
shares had been shorted, which presents a significant opportunity for
fuckery.



Now THIS I don't understand. How do you borrow 140% of the shares to short them?

Posted by: Deplorable Jay Guevara at January 27, 2021 12:40 PM (q4ZRu)

It starts with the SEC, being a captured regulatory organization of Wall Street, looking the other way on naked shorting (shorting a stock you cannot actually take possession of). It can be wildly profitable, which is why the SEC looks the other way.

Posted by: 4 at January 27, 2021 12:43 PM (KnJdm)

173 Good luck with that
Posted by: Jean


The system used to work. I spect it still does..

Posted by: MarkY at January 27, 2021 12:43 PM (i022r)

174 The hedge fund is the buyer.



Why would they pay for something that is over valued?

Don't the Reddits have to sell eventually? Who would pay wildly inflated price?

If you bought your position on margin (borrowed money to do it), your lender is going to demand you put up more money of your own or liquidate your position when you're underwater (or even approaching it), so you don't have a choice.

Posted by: Methos at January 27, 2021 12:43 PM (kOpft)

175 >>>163 How do you borrow 140% of the shares to short them?


the video said that some of these guys shorted the stocks once, then borrowed AGAIN to short them AGAIN. So those people are on the hook twice.

Posted by: ace at January 27, 2021 12:43 PM (5+1A/)

176 All the trading companies refusing orders are basically shooting themselves in the head as well. They are now at risk for lawsuits if their actions violated their terms of service. Patreon is getting ready to go down the tubes as they did some shady stuff depending on their arbitration rule to protect them. It did not when a group of people decided to arbitrate and the arbitration costs plus damages are destroying the company.

Posted by: whig at January 27, 2021 12:43 PM (pO7gM)

177 If I had it to do over again, I'd stick with bootlegging.

OK, kidding. Fuckers.
Posted by: Joseph Kennedy


Short selling during the Great Depression was how Joseph Kennedy Sr. made his fortune.
Driving down stock prices, and ruining people's lives and companies.
A Great American!

Posted by: Bozo Conservative....outlaw in America at January 27, 2021 12:43 PM (vcOmj)

178 The reddit gamers aren't so much worried about taking a loss. There are probably thousands of individuals working together on this. In the aggregate they can cause some serious damage to the big hedge fund guys though.

That's what has to scare the establishment. Politics, finance, academics... they've built systems which rely on a large base of support, but only if most of the supporters aren't actively involved. The Tea Party, Trump, and now this, all show that people are becoming more involved, and learning how to screw over the "elites".

Posted by: Colorado Alex in Exile at January 27, 2021 12:43 PM (jOcSX)

179 I should probably get in on this but..I've managed to avoid getting rich off the stock market so far. Should keep that streak alive.

Posted by: Mark Andrew Edwards, Logan Tiberius Edwards (2012-2021) at January 27, 2021 12:43 PM (ifmtJ)

180 Sock off

Posted by: WisRich at January 27, 2021 12:43 PM (G0vdT)

181 Oh, this stock loves the slop! Loves it, eats it up. Eats the slop. Born in the slop. This stock's father was a mudder! This stock's mother was a mudder. What did I just say? Hey, all right, 600 GameStop to win.

Posted by: cosmo kramer at January 27, 2021 12:43 PM (d6he9)

182 Check out Robin Hood, which my teen nephew brought to me a few weeks back. It allows commission free trades of fractional shares. So any amount of money can be thrown in the pot to play this game.
Posted by: 4

That sounds like fun.

Posted by: Jean at January 27, 2021 12:44 PM (Xih1H)

183 Read The Big Short by Michael Lewis. It's all about how the American public got screwed by Wall Street back in '07-'08. Then watch the movie.

----

The PUBLIC didnt get screwed. The shorters did. The clearing houses refused to honor the puts they sold on the traunches of UNSECURED DEBT they were holding.

Posted by: fixerupper at January 27, 2021 12:44 PM (3j8Qf)

184 the problem is that when the music stops the price will fall rapidly and the volume will follow down

this stock should be trading at 1 to 2 million shares a day

it's doing 12 times that

that aint right

Posted by: REDACTED at January 27, 2021 12:44 PM (zZxh0)

185 147 Read The Big Short by Michael Lewis. It's all about how the American public got screwed by Wall Street back in '07-'08. Then watch the movie.
Posted by: Captain Josepha Sabin -- Bitterly clinging to the deplorable life at January 27, 2021 12:40 PM (cLSW1)

Would also recommend Flash Boys. That'll tell you a ton about the mentality of most of these guys.

If you want to actually invest, Peter Lynch's books are awesome.

Posted by: The Central Scrutinizer at January 27, 2021 12:44 PM (KbCG3)

186 Now THIS I don't understand. How do you borrow 140% of the shares to short them?

The way I understand it is that when you short the stock, you borrow it from person A and then immediately turn around and sell the borrowed stock to person B.

Person B can then sell the stock back to person A, where Person C borrows it for another short. Thus the same stock has been borrowed 2x.

Wheeeee.

Posted by: Gman at January 27, 2021 12:44 PM (GfWuY)

187 Willowed:

Not sure what George and Jan were in together. Not The High and the Mighty w/ John Wayne, by any chance?

Awe hell .... is that what "Airplane" was based on? I never knew it wasn't an original script.
Posted by: Paladin at January 27, 2021


***

Partly, and partly a 1957 Dana Andrews film called Zero Hour! In fact I think the main character was called "Stryker," and most of the situation parodied in Airplane! came from the Andrews movie.

Posted by: Wolfus Aurelius at January 27, 2021 12:44 PM (yvr3o)

188 The thought of some Wall Street guy having to go beg another for a Billion dollars over an empty store at the mall run by a fat gamer kid, makes me hard.
Posted by: Jean


*snort

Posted by: rickb223 at January 27, 2021 12:45 PM (0mP7b)

189 Jen Psucky is TERRIBLE at this.

Reporter: Hey, why did Joe Biden eliminate that executive order banning China from infiltrating and harming our power grid. The power grid is like, really important.

Psucky: Joe has a view on our relationship with China, and I need to get back to you on that.

She needs to just hold these briefings topless. Otherwise, there's just no point in her having them. (The briefings, that is. Actually, that works either way.)
Posted by: Deplorable Jay Guevara at January 27, 2021 12:36 PM (YnEiF)
*********
Today Jen has Biden's National Climate Advisor on and John Kerry.
I had to mute it. Can't stand seeing our country raped by these charlatans.

Posted by: redridinghood at January 27, 2021 12:45 PM (NpAcC)

190 How do you borrow 140% of the shares to short them?

----
Imagine there were option contracts written as well. Im sure the 140% is a capitalization nummber.

Posted by: fixerupper at January 27, 2021 12:45 PM (3j8Qf)

191 THESE NERDS ARE A THREAT TO OUR WAY OF LIFE!!!

Posted by: buttfucked billionaires at January 27, 2021 12:41 PM (0tE/i)

Watched a show on Vice tv early this AM...couldn't sleep...about Q, 4chan, reddit, etc.....I am truly sheltered.

Posted by: BignJames at January 27, 2021 12:45 PM (AwYPR)

192 Read The Big Short by Michael Lewis. It's all about how the American public got screwed by Wall Street back in '07-'08. Then watch the movie.
Posted by: Captain Josepha Sabin -- Bitterly clinging to the deplorable life at January 27, 2021 12:40 PM (cLSW1)


That resulted from the unhappy and inadvertent alliance between the far left and right wings of the bell curve. The government (i.e., the Democrats) forced subprime mortgages to be made available to the cognitively disenfranchised in an effort to make them middle class. Said disenfranchisees didn't have a dog's chance of servicing the resulting loans, typically living from month to month on welfare. Other dumb asses thought it would be a good idea to get super highly leveraged using their houses for collateral, because betting your house struck them as a great idea.

The right half of the bell curve, realizing that the edifice was destined to collapse, bet against its survival. Although how bright do you have to be to realize that a Democrat policy will fail dismally?

Posted by: Deplorable Jay Guevara at January 27, 2021 12:45 PM (q4ZRu)

193 STAY OUT THE HEDGES!

Posted by: Jesse Jackson at January 27, 2021 12:45 PM (sWM8x)

194 THESE NERDS ARE A THREAT TO OUR WAY OF LIFE!!!

Posted by: buttfucked billionaires at January 27, 2021 12:41 PM (0tE/i)
Revenge of the nerds. The panty raids will be epic.

Posted by: 4 at January 27, 2021 12:45 PM (KnJdm)

195 How do you explain this in terms Joey Bidet can understand while he eats paste and fondles someone?

Posted by: Anna Puma at January 27, 2021 12:45 PM (2UAWY)

196 It's time to Eat The Rich.

Posted by: I Have Questions at January 27, 2021 12:46 PM (RGRIY)

197 Imagine there were option contracts written as well. I'm sure the 140% is a capitalization number.
Posted by: fixerupper at January 27, 2021 12:45 PM (3j8Qf)


Thanks, that makes sense. I should've thought of that.

Posted by: Deplorable Jay Guevara at January 27, 2021 12:46 PM (q4ZRu)

198 I'm just a simple frozen caveman but how do they "borrow" 140% of something?

I mean I know the answer already but holy crap that's jakey.
Posted by: TexasDan at January 27, 2021 12:39 PM (2HIdp)
++++
Two ways. They borrowed, sold, then borrowed again and sold again. Some of the shares will overlap. They buy back to cover the first round, then buy buck again to cover the second round. This is *insanely* dangerous and it increases your exposure on comparatively thinner volume. It acts as leverage in a really stupid way.

The other way is a "naked" short where you don't actually borrow the share before selling it and it's treated as more of an option. Naked shorting should be illegal (not shorting in general - that is an important part of the market).

Posted by: Joe Mannix (Not a cop!) at January 27, 2021 12:46 PM (UZVEt)

199 >>The squeeze aspect comes from margin calls. In order to avoid massive losses themselves, the broker/lenders require the borrower(person shorting) to have a certain amount of value in the account relative to what they borrowed. When you start getting huge paper losses, you get what is called a margin call. This means you have to add more money to the account or buy back the stock and deliver it immediately


Ah, thatnks for the clarification!!

Posted by: Lizzy at January 27, 2021 12:46 PM (bDqIh)

200 So---you're saying we should short GME.
Posted by: TexasDan at January 27, 2021 12:40 PM (2HIdp)

TD Ameritrade is already banning shorts on GME. I think they're probably stupidly exposed right now and are freaking out, since they're the broker. So if their retail clients are exposed to potentially unlimited risk and ultimately cannot cover it, TD is on the line.

That said, I have no holdings in GME even though I've been following this for literally over a year, and I wouldn't encourage anyone else to get in.

GME is a "YOLO Rocket ship" stock in WSB parlance -- if you have some money to throw away on fucking over hedge funds, and possibly making a bunch of money, but probably losing it all, sure. But none of them are selling right now, they're not really in to it for the money.

Posted by: Harry Paratestes at January 27, 2021 12:46 PM (UPoLF)

201 Buy Land

Posted by: garrett at January 27, 2021 12:46 PM (d8MLD)

202 106 It's been just as big a thing on 4chan, which is more "libertarian-right-chaos" than left. Reddit is left wing. Hating on hedge funds unites the left and right.
=======
Hedge funds are the sort of parasitical investment strategy that makes nothing, builds nothing, sells nothing, transports nothing, but still makes money. Meanwhile the national economy is on life support and people are out of work & desperate because the company that used to provide them with a decent living got pushed into insolvency. Hating on hedge funds like this is a cry from vox populi.

Posted by: exdem13 at January 27, 2021 12:46 PM (W+kMI)

203 There is some truth to this. Lots of Americans are gamers, it's a true unifying issue, and too many of the gamers have enforced free time on their hands right now.

Steam's use has skyrocketed since the lockdowns started. Ratings for TV shows has not really. People are watching less TV and gaming more.

Posted by: Christopher R Taylor at January 27, 2021 12:46 PM (KZzsI)

204 Make a formal protest.

that was somebody's trading desk that took that trade.

Posted by: MarkY at January 27, 2021 12:40 PM (i022r)

And they'll point me to eTrade's ToS that basically says they can do whatever they want whenever they want.

Posted by: Brian in New Orleans at January 27, 2021 12:46 PM (CQ3Qb)

205 Mood music.

Silent Hedges

https://youtu.be/GQ2xPTf8jEk

Posted by: 4 at January 27, 2021 12:46 PM (KnJdm)

206 Fossil is up 100%? Watches as big as Spartan shields?

Posted by: IP at January 27, 2021 12:46 PM (isHRY)

207 SEC has no comment mostly because they don't regulate the HF's. They are overseeing the brokers and PB's who aware making the transactions and lending. This is where the real fun and pants shitting is happening now. There are going to be margin calls and position liquidations if this continues. That endangers the HF entire portfolio of customers.

Posted by: Marcus T at January 27, 2021 12:46 PM (epasQ)

208 Liars Poker is a great book by Michale Lewis. It tells the story of his first job on Wall St at Solomon Brothers and among other things how the company revolutionized mortgages in America.
Really good read.

Posted by: Joe XiDen at January 27, 2021 12:47 PM (p847M)

209 186 "Now THIS I don't understand. How do you borrow 140% of the shares to short them?"

The way I understand it is that when you short the stock, you borrow it from person A and then immediately turn around and sell the borrowed stock to person B.

Posted by: Gman at January 27, 2021 12:44 PM (GfWuY)

When you borrow a stock to sell it, you created a new ownership interest in it. Person A owns the stock you borrowed, person B also owns the stock you just sold to them.

Mostly lending stocks generates a small amount of interest and doesn't require activity by the owners.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 12:47 PM (Zm+LZ)

210 167 I have never understood stocks and the one time I bought some, it flatlined and dipped.
So I stay clear.
Posted by: Diogenes

I would buy more but wife wakes me up at all hours worrying, so I don't

Posted by: REDACTED at January 27, 2021 12:47 PM (zZxh0)

211 176 All the trading companies refusing orders are basically shooting themselves in the head as well. They are now at risk for lawsuits if their actions violated their terms of service. Patreon is getting ready to go down the tubes as they did some shady stuff depending on their arbitration rule to protect them. It did not when a group of people decided to arbitrate and the arbitration costs plus damages are destroying the company.
Posted by: whig at January 27, 2021 12:43 PM (pO7gM)

Whig,

If you mean companies such as TD Ameritrade, no there all covered legally. The contracts a public customer signs before they start trading are damn near iron clad.

If you're referring to Robinhood and the like, it's possible, but again unlikely due to existing FINRA / SEC regulations and rules.

Posted by: browndog at January 27, 2021 12:47 PM (BgMrQ)

212 I wish to hear more from Marcus T about this.

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:47 PM (LvTSG)

213 162 -- But Wall Street actually encourages those people to buy houses they couldn't possibly begin to afford. The banks failed to do due diligence, allowing people to lie like rugs on the loan applications.

Posted by: Captain Josepha Sabin -- Bitterly clinging to the deplorable life at January 27, 2021 12:47 PM (cLSW1)

214 >>Mood music.


Looking into purple eyes
Sadness at the corners

Posted by: garrett at January 27, 2021 12:47 PM (d8MLD)

215 One other comment.
There used to be the "up-tick" rule on shorting.
Could only short a stock if it traded up.
Was supposed to be a circuit breaker.
big boys decided that wasn't fair... heh.

Posted by: MarkY at January 27, 2021 12:48 PM (i022r)

216 This has great humor value, but I'm not at all sure it's legal. The collusion may make it a crime. I'm sure the hedge fund has attorneys looking to vent their rage on somebody.

Posted by: jdgalt at January 27, 2021 12:48 PM (3SFo/)

217 Ever been to a Gamestop store? All teenagers and young adults. Does this mean my GS gift card will be worth nothing?

Posted by: Ziba at January 27, 2021 12:48 PM (S1hrL)

218 May I have 10,000 marbles please?

Posted by: Archer at January 27, 2021 12:48 PM (gmo/4)

219 I like that the financial/stock advisers on a show I used to listen to once in while, who love yapping abut how to make money short selling when they renal;t talking about the coming stock crash, may just shut up for a while.

I also like that reddit poster used the word retarded. Extra points for Double-plus bad-think!

Posted by: Ripley at January 27, 2021 12:48 PM (MxEKc)

220 This is awesome. Not surprised to see practitioners of it screeching about how morally corrupt the pis. More, please. And please tip me to it! I want in on something like this.

Posted by: Another pissed off voter at January 27, 2021 12:48 PM (uc+oy)

221 this stock should be trading at 1 to 2 million shares a day


Which is why all this happened. A thinly traded stock is ground zero for this kind of crap.

Posted by: Deplorable Jay Guevara at January 27, 2021 12:48 PM (q4ZRu)

222 216 This has great humor value, but I'm not at all sure it's legal. The collusion may make it a crime. I'm sure the hedge fund has attorneys looking to vent their rage on somebody.
Posted by: jdgalt at January 27, 2021 12:48 PM (3SFo/)

========

Collusion to buy stock based on publicly available information?

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:48 PM (LvTSG)

223 Hedge funds are the sort of parasitical investment strategy that makes nothing, builds nothing, sells nothing, transports nothing, but still makes money. Meanwhile the national economy is on life support and people are out of work & desperate because the company that used to provide them with a decent living got pushed into insolvency. Hating on hedge funds like this is a cry from vox populi.
Posted by: exdem13 at January 27, 2021 12:46 PM (W+kMI)

Mass amounts of unemployed, bored, pissed off military age males is a very bad thing for stability. Even without guns or violence they will find ways to fuck with those in power for the lulz.

Posted by: Vanya at January 27, 2021 12:49 PM (gAFsE)

224 also, it looks like the hedge funds in question used nacked shorts, which have been illegal since 2009.

Well, illegal for us non-hedge funders. Somehow hedge funds have found a way around it.

Basically, they go to a broker and say "hey, can we borrow 100,000 shares from you?" and the broker says "sure" then they sell those shares on the open market, expecting the price to drop.

At some point, the price "bottoms out," they they buy back 100,000 shares at the bottom, and give them back to the broker.

They literally have no money on the line.

Unless, of course, the stock doesn't go down, and instead goes up, then they have potentially unlimited risk.

Oh, and to make it even better -- the broker can lend those same shares to multiple people. Thus how we get to a shorted position that is larger then literally the entire number of shares being publicly traded. And then what? Well.. we'll find out.

Posted by: Harry Paratestes at January 27, 2021 12:50 PM (UPoLF)

225 I regularly got killed by margin calls in Railroad Tycoon 3.

Posted by: spindrift at January 27, 2021 12:50 PM (CNMcH)

226 Posted by: Harry Paratestes at January 27, 2021 12:37 PM (UPoLF)

I'm in favor of this kind of warfare against our Overlords. It's very legal, a necessary check on Wall Street, and it exposes the rigged markets and game in their favor always plus bailouts. Puts them under a spotlight and a microscope.
There is literally no difference in a few billionaires and banks colluding with each other than the masses, and I'd argue the former is way worse than the latter.

Posted by: zinc at January 27, 2021 12:50 PM (REcg2)

227 Collusion to buy stock based on publicly available information?
Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:48 PM (LvTSG)

----

Yeah.... this.

That would mean stock clubs and anybody that publishes buy/sell/hold recommendations is guilty.

Posted by: fixerupper at January 27, 2021 12:50 PM (3j8Qf)

228 Read The Big Short by Michael Lewis. It's all about how the American
public got screwed by Wall Street back in '07-'08. Then watch the movie.

Posted by: Captain Josepha Sabin -- Bitterly clinging to the deplorable life at January 27, 2021 12:40 PM (cLSW1)
His original breakout book was called Iiars Pokers. It was a must read by anyone interested in Wall Street. Lewis is a talented writer. He is a big lib as far as I recall, but he is a good writer and good and studying Wall Street.

Posted by: Quint at January 27, 2021 12:50 PM (3BHQi)

229 The other way is a "naked" short where you don't actually borrow the share before selling it and it's treated as more of an option. Naked shorting should be illegal (not shorting in general - that is an important part of the market).
Posted by: Joe Mannix (Not a cop!) at January 27, 2021 12:46 PM (UZVEt)

In my day, it was impossible to initiate a "naked short" position.

You had to call into the trading desk to get approval that the stock was available to be hypothecated for that particular trade.

Posted by: browndog at January 27, 2021 12:50 PM (BgMrQ)

230 Partly, and partly a 1957 Dana Andrews film called Zero Hour! In fact I think the main character was called "Stryker," and most of the situation parodied in Airplane! came from the Andrews movie.
Posted by: Wolfus Aurelius


I actually saw "Zero Hour" a few years ago. It is played absolutely straight, but after seeing "Airplane", I laughed all the way through it.

Posted by: Bozo Conservative....outlaw in America at January 27, 2021 12:50 PM (vcOmj)

231 >>>Ever been to a Gamestop store? All teenagers and young adults.


and angry trannies screaming at the employees

Posted by: Mark1971 at January 27, 2021 12:50 PM (xPl2J)

232 216 This has great humor value, but I'm not at all sure it's legal. The collusion may make it a crime. I'm sure the hedge fund has attorneys looking to vent their rage on somebody.
Posted by: jdgalt at January 27, 2021 12:48 PM (3SFo/)

Breaking shorts or longs is a long-standing and accepted practice. Does it become criminal simply because more people are involved?

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 12:50 PM (Zm+LZ)

233 Michael Lewis is a very good writer.

Sadly, he hates us. Of course.

But Margot Robbie in a bubble bath. And full frontal nude. So...there's that. Which is nice.

Posted by: Mark Andrew Edwards, Logan Tiberius Edwards (2012-2021) at January 27, 2021 12:50 PM (ifmtJ)

234 I love this so much

that's all

I cannot love this more

Posted by: BlackOrchid at January 27, 2021 12:50 PM (j9HX3)

235 >> Look at this" and next thing you know, here we are. Guys at about $40 million right now.


WOW

Posted by: Lizzy at January 27, 2021 12:50 PM (bDqIh)

236 Now THIS I don't understand. How do you borrow 140% of the shares to short them?

Posted by: Deplorable Jay Guevara at January 27, 2021 12:40 PM (q4ZRu)

Technically it's called 'naked shorting' It's supposed to be illegal but if enforced it would bring down the entire market. It would take several paragraphs to explain the exemptions that exist. Then it's compounded by margin and options trading where you buying/selling the right to trade the tock at certain prices in the future.

Think back to to housing market/mortgage collapse in 2008 where 5 entities essentially "owned" the same piece of paper. The market has been fundamentally broken since 2008 when the taxpayer bailed them all out and no one faced any consequences whatsoever. Google "moral hazard".

Posted by: Brian in New Orleans at January 27, 2021 12:51 PM (CQ3Qb)

237 227 Collusion to buy stock based on publicly available information?
Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:48 PM (LvTSG)

----

Yeah.... this.

That would mean stock clubs and anybody that publishes buy/sell/hold recommendations is guilty.
Posted by: fixerupper at January 27, 2021 12:50 PM (3j8Qf)

=========

Jim Cramer going to jail!

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:51 PM (LvTSG)

238 216 This has great humor value, but I'm not at all sure it's legal. The collusion may make it a crime. I'm sure the hedge fund has attorneys looking to vent their rage on somebody.
Posted by: jdgalt at January 27, 2021 12:48 PM (3SFo/)


How do you prove collusion? A whole bunch of independent actors all happen to do the same thing, motivated by the same external circumstances.

It's the defense companies use to antitrust allegations.

Except here, it's actually true. The vast majority of those buying the stock have probably never met or passed a word in person with any of the others.

Posted by: Deplorable Jay Guevara at January 27, 2021 12:51 PM (q4ZRu)

239 Now THIS I don't understand. How do you borrow 140% of the shares to short them?

Posted by: Deplorable Jay Guevara at January 27, 2021 12:40 PM (q4ZRu)

Borrow 70% of shares. Then borrow them again from the people you just sold them to.

Posted by: Methos at January 27, 2021 12:51 PM (kOpft)

240 "Looking good, Billy Ray!!"

"Feeling good, Louis!!"




*Nelson Muntz laugh*

Posted by: Sharkman at January 27, 2021 12:51 PM (7IHSe)

241 233 Michael Lewis is a very good writer.

Sadly, he hates us. Of course.

But Margot Robbie in a bubble bath. And full frontal nude. So...there's that. Which is nice.
Posted by: Mark Andrew Edwards, Logan Tiberius Edwards (2012-2021) at January 27, 2021 12:50 PM (ifmtJ)

=========

Moneyball is where it's at.

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:51 PM (LvTSG)

242
Posted by: Harry Paratestes at January 27, 2021 12:50 PM (UPoLF)

------

EXCELLENT explanation.

Posted by: fixerupper at January 27, 2021 12:51 PM (3j8Qf)

243 btw the buying of GSE was in no way a "frenzy"

don't let them rewrite this as it happens

not a frenzy

janet "not a girl"

this "not a frenzy"

the frenzy part is what Melvin et al is doing right now

Posted by: BlackOrchid at January 27, 2021 12:51 PM (j9HX3)

244 211, browndog,
In legal anarchy land, there is no such thing as an 'ironclad' contract anymore. You find a favorable forum and go there to sue preferably in mass.

Every contract has the potential to be exploited if one so desires and then these brokerages are not exempt from being sued over collusive actions taken with other entities designed to prevent someone from making a buck.

Most contracts are really written to discourage people from suing but even iron clad contracts have been shredded when the contract language is "not in the public interest" as enforceable. A lot of music acts in the 1960's and 70's had to do that and by and large were successful in getting those contracts modified in court.

Posted by: whig at January 27, 2021 12:51 PM (pO7gM)

245 Market manipulation can be illegal, but those laws apply almost exclusively to professionals and under a different type of context. Mostly disseminating false information to alter a price and taking the opposite side.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 12:51 PM (Zm+LZ)

246 Wasn't Musk supposed to shut his mouth about equities?
---------
Here's the tweet -- it was nothing. He replied "Gamestonk!!" to a tweet from someone called wallstreetbets that said "Like 4chan found a Bloomberg Terminal reddit.com"

Here it is: tinyurl.com/1b1blwty

And sorry I misremembered that Musk made the 4chan comment when he did even less than that -- he just said "Gamestonk!!"

Posted by: andycanuck at January 27, 2021 12:52 PM (d6he9)

247 219 I like that the financial/stock advisers on a show I used to listen to once in while, who love yapping abut how to make money short selling when they renal;t talking about the coming stock crash, may just shut up for a while.

I also like that reddit poster used the word retarded. Extra points for Double-plus bad-think!
Posted by: Ripley at January 27, 2021 12:48 PM (MxEKc)

Everyone on 4chan and WSB (lots of overlap) calls each other and themselves retards and autists, and calculates their gains in chicken tenders (or tendies)

They like to say things like "this retard YOLO'ed on TSLA calls, made 20k, and my wife and her boyfriend and I feasted on tendies."

Posted by: Harry Paratestes at January 27, 2021 12:52 PM (UPoLF)

248 Even better is that some of the original Gamestop founders, who had major shares and were to be ruined by the short sellers, are now the billionaires. LOL!

Posted by: Ripley at January 27, 2021 12:52 PM (MxEKc)

249 142 108 Just remember Bacharach's short & fast rule of investment. Bulls make money. Bears make money. Pigs get slaughtered.
Posted by: exdem13 at January 27, 2021 12:36 PM (W+kMI)

Didn't know Burt was into finances as well as music?

Perhaps you mean Bernard Baruch...
=========
No, Nathan Bacharach, host of "Simply Money" on WKRC here in River City.

Posted by: exdem13 at January 27, 2021 12:52 PM (W+kMI)

250 "This has great humor value, but I'm not at all sure it's legal. The collusion may make it a crime. I'm sure the hedge fund has attorneys looking to vent their rage on somebody. "

What they've done is perfectly legal according to SEC, CFTC, FINRA and other associated regulations.

Posted by: Marcus T at January 27, 2021 12:52 PM (epasQ)

251 Jim Cramer going to jail!
Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:51 PM (LvTSG)

------

Yeah.

FOR his shitty advice. Not because of it.

THAT dude is a fucking idiot.

Posted by: fixerupper at January 27, 2021 12:52 PM (3j8Qf)

252 Buy Land
Posted by: garrett at January 27, 2021


***

"I have a fondness for beachfront property -- Australia!"

Posted by: Lex Luthor at January 27, 2021 12:52 PM (yvr3o)

253 213

How many people took out HELOC and bought cars, motorcycles, RVs, and took Tahiti vacations? Then never paid the money back and blamed wall st. Millions did. And still somehow these deadbeats were victims according to the msm.

Or how about people who bought several houses with $0 down because they were such shrewd investors? Was that Wall St fault as well?

How about the real estate agents who told people buy real e at are because IT NEVER GOES DOWN? Was that Wall St too?

Wall st sure had a hand in it. But they were by no means the only villain in the story.

Posted by: Joe XiDen at January 27, 2021 12:52 PM (p847M)

254 Steam's use has skyrocketed since the lockdowns started. Ratings for TV
shows has not really. People are watching less TV and gaming more.


The entertainment value of games is MUCH higher then media.

Say you buy an entertaining movie, say...one of the better avengers movies, for $40. You watch it for 2 hours. Maybe you watch it for 8 hours total, so 4 times. That's $5/h.
Now let's suppose you buy Civilization, err, whatever number they are up to, for $50. And play it for 1,000 hours. That's $0.05/hour.

Oh and most recent TV and movies suck.

Posted by: 18-1 at January 27, 2021 12:52 PM (qlFIA)

255 I only have a rudimentary grasp of what happened here. My brain computes stock market lingo, machinations and knowledge like it does driving directions.

Posted by: Lady in Black at January 27, 2021 12:52 PM (O+I8R)

256 208 -- Thanks for the recommendation. I really liked The Big Short. My grandfather was the CFO of what was then the oldest stockbrokerage house in the U.S., so I grew up on tales of financial finageling. I certainly know neither The Big Short or Liars Poker would have occurred during the old boy's time.

Posted by: Captain Josepha Sabin -- Bitterly clinging to the deplorable life at January 27, 2021 12:52 PM (cLSW1)

257 I have little patience for anyone on reddit. There is an incredible overrepresentation of vicious little people on that platform.

So while I'm not a fan of wall st generally, I like cyber mobs less. They're creating a stock bubble for the sole purpose of wiping out the short side of the trade. I'm sure it's emotionally satisfying for the Children of Reddit, but at the end of the day they're buying an asset that's been stripped of any meaningful relationship to its fundamental valuation.

Posted by: Sam In VA at January 27, 2021 12:53 PM (Nqq7o)

258 Are they all talking about that game store in the mall?

Posted by: Lex Luthor at January 27, 2021 12:53 PM (yvr3o)

259 Good grief. Your government (and corporate HR overlords) at work:

As a federal contractor, {company} must provide equal employment opportunity to qualified persons with disabilities, and we are required to measure our progress a goal of having 7% or more of our workforce be persons with disabilities. ...
Next month, you will receive a disability survey to complete in {our online HR platform}. Here is a sample of the voluntary self-identification form that the U.S, government designed to help federal contractors measure their progress.

Posted by: Joe Mannix (Not a cop!) at January 27, 2021 12:54 PM (UZVEt)

260 THAT dude is a fucking idiot.

lol, right? I've always thought you could make a ton of money doing the opposite of what Cramer says.

Posted by: Eisenhorn at January 27, 2021 12:54 PM (wzqPr)

261 *pauses*

That would have been comic gold, Les Nesman of WKRP giving financial advice.

Posted by: Anna Puma at January 27, 2021 12:54 PM (2UAWY)

262 "Person B can then sell the stock back to person A, where Person C
borrows it for another short. Thus the same stock has been borrowed 2x." ---

idk how it works, but "naked short" is shorting without the actual stock, which is what that seems to be. (and I don't like that my stocks can be borrowed, but they can, I think. There may be a way to stop that, but one may have to take possession of the certificate, idk)---

and on the leverage side of the high life (Madoff style) ... rehypothecation is how funds like LTCM (too big to fail, because it makes the rich incredibly richer) were leveraged like 300:1, then get bailed out when all that leverage fails. It is the same kinda thing but worse, using one asset to back multiple borrowings. ... (still goes on in London, afaik ... scam for the rich, esp. the money runner special club, that you ain't in)

Posted by: illiniwek at January 27, 2021 12:54 PM (Cus5s)

263 201 Buy Land

Posted by: garrett at January 27, 2021 12:46 PM (d8MLD)

THIS. God isn't making any more.

Posted by: Our Country is Screwed at January 27, 2021 12:54 PM (N39Ws)

264 244 211, browndog,
In legal anarchy land, there is no such thing as an 'ironclad' contract anymore. You find a favorable forum and go there to sue preferably in mass.
...
Posted by: whig at January 27, 2021 12:51 PM (pO7gM)

OK, I'll grant you this.

However, I don't think you or I would be able to bring this case. You would need to be one of the protected class.

Posted by: browndog at January 27, 2021 12:54 PM (BgMrQ)

265 Next up on the Gorilla Channel, Clarence Beeks at the Simian Cabaret.

Posted by: Dr. Bone at January 27, 2021 12:55 PM (03n3v)

266 Entertaining, I admit.

Anything to shiv the "elite".

Posted by: SMH at January 27, 2021 12:55 PM (cwMIU)

267 Holy crap. These hedge are having to sell some serious holdings to cover this screw up! They are having to sell some of their core holdings. Thats causing some significant drops in solid stocks. Maybe I should look into buying those while they are down.

Posted by: Mishdog at January 27, 2021 12:55 PM (F/Rk0)

268 Margin call. Recall it was the margin call that Duke & Duke couldn't meet that ended their company (remember the exchange official instructing others to seize all assets of Duke & Duke).

All in all, a great movie. Eddie Murphy at his best, some character actors at their best, madcap enough to be "zany", good plot, and Jamie Lee's body. And a lesson in short selling, inside information, and shorting as a bonus.

Posted by: rhomboid at January 27, 2021 12:55 PM (OTzUX)

269 Plus it's funny watching the Wall Street Bets guy having a ball at big finances expense

Posted by: Pete Bog at January 27, 2021 12:55 PM (vffK4)

270 216 This has great humor value, but I'm not at all sure it's legal. The collusion may make it a crime. I'm sure the hedge fund has attorneys looking to vent their rage on somebody.
Posted by: jdgalt at January 27, 2021 12:48 PM (3SFo/)

Well, of course it's illegal when we do it, but it's totally fine for hedge funds to own huge interests in companies, then send their analysists to CNBC and either pump up or try to downplay the stock, depending on what is in their financial interest.

That system makes total sense.

Posted by: Harry Paratestes at January 27, 2021 12:55 PM (UPoLF)

271 254 Say you buy an entertaining movie, say...one of the better avengers movies, for $40. You watch it for 2 hours. Maybe you watch it for 8 hours total, so 4 times. That's $5/h.
Now let's suppose you buy Civilization, err, whatever number they are up to, for $50. And play it for 1,000 hours. That's $0.05/hour.

Oh and most recent TV and movies suck.
Posted by: 18-1 at January 27, 2021 12:52 PM (qlFIA)

==========

Who buys movies for $40?

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:55 PM (LvTSG)

272 Pigs get fat; hogs get slaughtered.

Posted by: Ladyl at January 27, 2021 12:55 PM (TdMsT)

273 I looked at gamewhen everything craped out in March, i pretty much forgot about it and never purchased. I probably would have sold before this week anyway, as if I purchased $1000 a$4 a share i would have been happy with selling at $20 a share, as I'm generally very cautious.

I have been looking at AMC, assuming there'd be a resurgence for the bigger chains once the vaccine hits 50%, and yesterday morning i talked to someone about it, then when i went to purchase it this morning it was at $10 so I held off (was looking to buy at $5) i still may make a small play if it comes down a bit, taking the risk i lose it to make a decent amount.

I get where some of these guys (not the professional short sellers) are coming from. We've now got novices using robinhood (like literally the girl next to me at work) who hear about gamestop from a friend, and are going to lose everything they invested when someone creates a post that just says "sell!" And the stock tumbles back to nil. Yhe vslue is boosted to a point by rubes, and for all we know the people who started this are just a different segment of wall st billionaires.

Now about boosting my Lionsgate stock 200 fold.

Posted by: Rbastid at January 27, 2021 12:55 PM (GTU75)

274 Perhaps you mean Bernard Baruch...
=========
No, Nathan Bacharach, host of "Simply Money" on WKRC here in River City.
Posted by: exdem13 at January 27, 2021 12:52 PM (W+kMI)

LOL

My apologies...

Posted by: browndog at January 27, 2021 12:55 PM (BgMrQ)

275 Who buys movies for $40?

- -

Hedge Funds burned by Reddit.

Posted by: WitchDoktor, off to the great beyond. at January 27, 2021 12:56 PM (C+We0)

276 stupidity should hurt

naked shorting should hurt

that's why the payoff right? the risk?

so, this is the risk. why did it take so long?

now you learn why naked shorting should be illegal. you learn the very hard way.

Posted by: BlackOrchid at January 27, 2021 12:56 PM (j9HX3)

277 Thing from Snowy Mountain, the music on Hadrian's thumb drive is not in MP3 form. I had a devil of a time getting it to play. It would not run on my Windows 7 computer. I had to move it to a Windows 10 machine to get it to run.

But it was worth every minute of effort.

Posted by: creeper at January 27, 2021 12:56 PM (XxJt1)

278 So while I'm not a fan of wall st generally, I like cyber mobs less. They're creating a stock bubble for the sole purpose of wiping out the short side of the trade. I'm sure it's emotionally satisfying for the Children of Reddit, but at the end of the day they're buying an asset that's been stripped of any meaningful relationship to its fundamental valuation.
Posted by: Sam In VA at January 27, 2021 12:53 PM (Nqq7o)

Do you realize that in techno-oligarchy, like we're sliding into now, stuff like this is going to be one of the only ways to push back?

You protest. They send in the cops and bust your head, and ignore what you say.

You vote. Nuff said.

You call your congressman. LOL ok. See above.

You fuck with their pig trough-- Now they sweat.

Posted by: Vanya at January 27, 2021 12:56 PM (gAFsE)

279 I'm thinking that infinite cash will come to the rescue. Only The System may conspire to fix and profit from the stock market, not these upstarts!

Posted by: t-bird at January 27, 2021 12:56 PM (Lt1JN)

280 Buy Land

Posted by: garrett at January 27, 2021 12:46 PM (d8MLD)

THIS. God isn't making any more.
Posted by: Our Country is Screwed at January 27, 2021 12:54 PM (N39Ws)

---

Grandbabies' parents did just that in Missouri.

Not much, about 14 acres, but they have a dry-weather creek that provides an amazing swimming hole in the summer.

Posted by: SMH at January 27, 2021 12:56 PM (cwMIU)

281 The new Sy Fy show Resident Alien starring Alan Tudyk as an evil alien stranded in Small Town Colorado, premiers tonight. Here is the trailer:

tinyurl.com/ylvc4nnn




*Troy McClure voice*:

You may remember Alan Tudyk from such classics as Firefly, 3:10 to Yuma and Tucker & Dale vs. Evil."

Posted by: Sharkman at January 27, 2021 12:56 PM (7IHSe)

282 "but at the end of the day they're buying an asset that's been stripped of any meaningful relationship to its fundamental valuation."

The PE value of an equity is often rendered meaningless simply by what the market is willing to pay, or not pay. We've had many periods where valuations don't make any sense. There are tech stocks, right now, that break traditional PE valuations because, tech stock.

Posted by: Marcus T at January 27, 2021 12:56 PM (epasQ)

283 "Rubies the size of tangerines!"

@HankHeil
The mass elation caused by GamestopGate should seriously concern the elites. Basically everyone under 40 is now oriented toward enjoying any victory over the elites more than any circus the elites can put in front of them.

Lobbing the Trump grenade into DC was fun. Eventually they shut that down by taking away the ability to participate in elections. Blowing up a bunch of Cohen's bank accounts is fun. Eventually they will shut this down by taking away the ability to participate in markets.

Their problem is that it's impossible to maintain a society that doesn't require the participation of those below them. They can never eliminate every vector the other classes have to strike back against them and now there is sense, albeit small, of class solidarity against them.

Posted by: Lizzy at January 27, 2021 12:56 PM (bDqIh)

284 Haven't had this much fun since Dial Idol pushed Sanjaya to the finals.

Posted by: Valiant at January 27, 2021 12:57 PM (3MiF8)

285 More mood music here from the Dan.
https://www.youtube.com/watch?v=xktyYhRPAMY

Posted by: exdem13 at January 27, 2021 12:57 PM (W+kMI)

286 Using the land analogy

The hedge funds are the guys who bought beachfront property in Louisiana.

Posted by: Anna Puma at January 27, 2021 12:57 PM (2UAWY)

287 thanks to anti-white discrimination in College and Corporate America, there's an ever growing army of smart but under-employed white dudes who wanna see the system burn -- and have the brainpower needed to burn it
Posted by: CordCutterJones at January 27, 2021 12:26 PM (gyAiF)

-------------------

Our masters are not very smart.

Posted by: President Select Decaf at January 27, 2021 12:57 PM (hpVf/)

288 222 jdgalt,
The hedge fund might want to do that but they will be handicapped in that there is no contractual relationship between the buyers of the stock and the hedge fund. So, they might try to lean on the SEC to do its bidding but if they truly did a naked short, then they have violated the law themselves. Even the financial press will reluctantly side with the merry anarchist investors because a charge of collusion based on publicly available information would kill the financial press as well.

Old common law doctrine is that he who comes to court must have clean hands which the hedge fund certainly does not have. Hope the guys running it become hobos subject to Ace's hobby.

Posted by: whig at January 27, 2021 12:58 PM (pO7gM)

289 267 Holy crap. These hedge are having to sell some serious holdings to cover this screw up! They are having to sell some of their core holdings. Thats causing some significant drops in solid stocks. Maybe I should look into buying those while they are down.
Posted by: Mishdog at January 27, 2021 12:55 PM (F/Rk0)

Oh, yeah, this could collapse multiple hedge funds in NY. Like bankruptcy time. These fucking idiots exposed themselves to literally unlimited risk on what is looking more and more like naked shorts. This kind of behavior is how we get economic collapses. People should be livid that we allow this kind of behavior to go on in our financial sector. Hopefully this is a cautionary tale to the rest of wall street.

We'll see.

Posted by: Harry Paratestes at January 27, 2021 12:58 PM (UPoLF)

290 As a federal contractor, {company} must provide equal employment opportunity to qualified persons with disabilities, and we are required to measure our progress a goal of having 7% or more of our workforce be persons with disabilities. ...
Next month, you will receive a disability survey to complete in {our online HR platform}. Here is a sample of the voluntary self-identification form that the U.S, government designed to help federal contractors measure their progress.
Posted by: Joe Mannix (Not a cop!) at January 27, 2021 12:54 PM (UZVEt)

My company does offshore oilfield work. How the hell are we supposed to employ disabled people?

Posted by: Vanya at January 27, 2021 12:58 PM (gAFsE)

291 Ameritrade now restricting trading on GME.

Posted by: WisRich at January 27, 2021 12:58 PM (G0vdT)

292 288 Old common law doctrine is that he who comes to court must have clean hands which the hedge fund certainly does not have. Hope the guys running it become hobos subject to Ace's hobby.
Posted by: whig at January 27, 2021 12:58 PM (pO7gM)

=========

He'll build a shelf out of 'em!

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:58 PM (LvTSG)

293 I'm reminded of the phone poll to name one of the new UK submersibles.

I think it ended up being "Divey McDiverson" or something like that.

Posted by: WitchDoktor, off to the great beyond. at January 27, 2021 12:58 PM (C+We0)

294 Yes! Our time has come!

Posted by: Circuit City at January 27, 2021 12:58 PM (Izzlo)

295 291 Ameritrade now restricting trading on GME.


well that seems legal

Posted by: BlackOrchid at January 27, 2021 12:59 PM (j9HX3)

296 I'm sure it's emotionally satisfying for the Children of Reddit, but at the end of the day they're buying an asset that's been stripped of any meaningful relationship to its fundamental valuation.

Having read a lot of the posts, they're way more aware of that than you think. None of them expect GameStop to suddenly return to their 90s glory days, or even to be a going concern in 12 months.

Posted by: Ian S. at January 27, 2021 12:59 PM (ZGrMX)

297 I would love it if Barbra Streisand and Jane Fonda and others of that ilk get informed today that they are broke.

Posted by: JAS, AoSHQ addict at January 27, 2021 12:59 PM (2BZBZ)

298 How do you borrow 140% of the shares to short them?
Let's do it with 10 stocks and I short 15.
Market value 10$. I short 15 shares at $9. The Brokerage has 5 of those shares. I borrow all 5 sell them, the Brokerage buys them from who I sold them too, I borrow them again and sell them, the Brokerage buys them a third time and I borrow and sell them. But oops in the process of doing this I've created 10 buys to my 15 sells. So I am really depending on the price dropping and panic selling so I can now buy all 10 shares give them to the brokerage, they sell five back to the market buy five shares from the market and then give them back to them to cover my position.
But what if I go on this little trip of depending on panic selling to cover my position *and*it*doesn't*happen*?

Posted by: Saintly Akin at January 27, 2021 12:59 PM (b82nJ)

299 289 Hopefully this is a cautionary tale to the rest of wall street.

We'll see.
Posted by: Harry Paratestes at January 27, 2021 12:58 PM (UPoLF)

==========

"Punish the rubes."
-The Lesson

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 12:59 PM (LvTSG)

300 290
My company does offshore oilfield work. How the hell are we supposed to employ disabled people?
Posted by: Vanya at January 27, 2021 12:58 PM (gAFsE)


Buoys.

Posted by: J.J. Sefton at January 27, 2021 12:59 PM (s2VJv)

301 Colluding is illegal? Weird, because colluding in this case just sounds like pooling and marshaling resources in a cooperative fashion to achieve a shared goal. Where's the illegality part come in? What specific law or regulation is being broken?

Posted by: bear with asymmetrical balls at January 27, 2021 12:59 PM (H5knJ)

302 The funny thing about the Big Short is that the lenders thought that they were being smart, and that historical levels of defaults would obtain, and would strike randomly - as they had in the future - and thus could be accounted for in essentially an actuarial fashion.

Whereas in fact the risks were highly correlated, not random at all, so when the defaults began, triggered by a rise in interest rates, there was an avalanche of defaults.

Posted by: Deplorable Jay Guevara at January 27, 2021 12:59 PM (q4ZRu)

303 -- But Wall Street actually encourages those people to buy houses they couldn't possibly begin to afford. The banks failed to do due diligence, allowing people to lie like rugs on the loan applications.

-----

Thats not what happened.

It was THE FED that waived underwriting rules. The banks actually said.... HEY YOURE MAKING US ASSUME ALL THE RISK BY CARRYING ZERO DOWN UNVERIFIED VALUE LOANS BECAUSE ITS ILLEGAL TO REQUIRE DOWN PAYMENTS AND VERUFY VALUE.

So the Fed said.... OK YEAH NOT FAIR. WE WILL BUY ALL THOSE UNSECURED LOANS SO YOU DONT HAVE TO CARRY THEM. So Fannie Mae then bought em all up, bundled millions of them together as income streaming securities and sold them as equity instruments.

The problem came when a small group of investors realized that cant go on forever and started shorting the traunches. That paid off HUGE when the bubble popped.

Posted by: fixerupper at January 27, 2021 01:00 PM (3j8Qf)

304 My company does offshore oilfield work. How the hell are we supposed to employ disabled people?
Posted by: Vanya at January 27, 2021 12:58 PM (gAFsE)

we've been doing that for years

Posted by: Detroit Lions at January 27, 2021 01:00 PM (Izzlo)

305 If you pay $20 or $10 or whatever it doesn't really matter. Games have much more entertainment hours built into them then movies do....
Oh and on the stock side - stocks originated as a way for people to pool money together to produce something of value - buy a ship, found a colony, build a factory, whatever.

How does short selling add to that? Seems like just an instrument for people with special access to monetize that access - no?

Posted by: 18-1 at January 27, 2021 01:00 PM (qlFIA)

306 Hire the "mentally" disabled. You know. Conservatives.

Posted by: JAS, AoSHQ addict at January 27, 2021 01:00 PM (2BZBZ)

307 289 267 Holy crap. These hedge are having to sell some serious holdings to cover this screw up! They are having to sell some of their core holdings. Thats causing some significant drops in solid stocks. Maybe I should look into buying those while they are down.
Posted by: Mishdog at January 27, 2021 12:55 PM (F/Rk0)

Oh, yeah, this could collapse multiple hedge funds in NY. Like bankruptcy time. These fucking idiots exposed themselves to literally unlimited risk on what is looking more and more like naked shorts. This kind of behavior is how we get economic collapses. People should be livid that we allow this kind of behavior to go on in our financial sector. Hopefully this is a cautionary tale to the rest of wall street.

We'll see.
Posted by: Harry Paratestes at January 27, 2021 12:58 PM (UPoLF)

I disagree that it threatens the broader economy. This is all in secondary markets, the price of Kroger stock doesn't affect their ability to operate in general. And lots of hedge funds blow up every few years due to things like this anyways. Index funds and actively managed mutual funds are much bigger players in the markets.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:00 PM (Zm+LZ)

308 NOK average trading volume- 42MM shares

today- over 1/2 Billion

Posted by: MarkY at January 27, 2021 01:00 PM (i022r)

309 290
My company does offshore oilfield work. How the hell are we supposed to employ disabled people?
Posted by: Vanya at January 27, 2021 12:58 PM (gAFsE)

=========

Expanding the definition of "disabled" well past the point of any usefulness.

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 01:00 PM (LvTSG)

310 now you learn why naked shorting should be illegal. you learn the very hard way.
Posted by: BlackOrchid at January 27, 2021 12:56 PM (j9HX3)

Well, it is supposed to be illegal. But of course, when they made it illegal, they made it illegal for US, but not for institutional investors.

I haven't dug deeply enough in to this topic to have a real knowledge of how they're getting away with this, but they are and have been forever.

Posted by: Harry Paratestes at January 27, 2021 01:00 PM (UPoLF)

311 261 *pauses*

That would have been comic gold, Les Nesman of WKRP giving financial advice.
---
The real focus of the purported investment episode would've been Herb Tarleck getting an "insider tip" about shorting that he wouldn't have gotten right.

Posted by: exdem13 at January 27, 2021 01:00 PM (W+kMI)

312 Oh, yeah, this could collapse multiple hedge funds in NY. Like bankruptcy time. These fucking idiots exposed themselves to literally unlimited risk on what is looking more and more like naked shorts. This kind of behavior is how we get economic collapses. People should be livid that we allow this kind of behavior to go on in our financial sector. Hopefully this is a cautionary tale to the rest of wall street. ...
Posted by: Harry Paratestes at January 27, 2021 12:58 PM (UPoLF)
++++
Oh, man, Harry. That's the most optimistic thing I have ever read. It will be a cautionary tale alright - cautioning against letting the rubes fuck up your positions.

Posted by: Joe Mannix (Not a cop!) at January 27, 2021 01:00 PM (UZVEt)

313 295 291 Ameritrade now restricting trading on GME.


well that seems legal
Posted by: BlackOrchid at January 27, 2021 12:59 PM (j9HX3)

B/O,

It's legal, and it's clearly printed in the legal documents you sign when opening an account.

Posted by: browndog at January 27, 2021 01:01 PM (BgMrQ)

314
Wall st sure had a hand in it. But they were by no means the only villain in the story.
Posted by: Joe XiDen at January 27, 2021 12:52 PM (p847M)

-------

Every person involved was at full-retard the whole time. The borrowers, the lenders, the investors who bought the tranched paper debts, the government who backstopped all that shitty paper, and the voters who put them in power.

A majority of people in our society plopped down moral hazards until there wasn't enough fairway left to get to the green, and then they kept on driving until they dropped the ball in every single one.

Posted by: Yudhishthira's Dice at January 27, 2021 01:01 PM (Bvn1K)

315 Good grief. Your government (and corporate HR overlords) at work:

As a federal contractor, {company} must provide equal employment opportunity to qualified persons with disabilities, and we are required to measure our progress a goal of having 7% or more of our workforce be persons with disabilities. ...
Next month, you will receive a disability survey to complete in {our online HR platform}. Here is a sample of the voluntary self-identification form that the U.S, government designed to help federal contractors measure their progress.

--

Sure, why not? We now have a disabled person sitting in the WH.

Posted by: Lady in Black at January 27, 2021 01:01 PM (O+I8R)

316 this is brilliant. and i love that NOW that the proles have found a way to duplicate our activities, it's time to stop (them) and prevent it from happening again.

sort of like a recent election.

I'm sensing a theme...
Posted by: SturmToddler at January 27, 2021 12:26 PM (8D42x)

-------------------

There only seems to be one move, one theology for the left.

Posted by: President Select Decaf at January 27, 2021 01:01 PM (hpVf/)

317 Say you buy an entertaining movie, say...one of the better avengers movies, for $40. You watch it for 2 hours. Maybe you watch it for 8 hours total, so 4 times. That's $5/h.
Now let's suppose you buy Civilization, err, whatever number they are up to, for $50. And play it for 1,000 hours. That's $0.05/hour.


I think that's a large part of it, also you have more input on the events in a game, where you're just watching a movie. Plus games tend to last dozens, if not hundreds of hours, and movies are like 3-4.

I've been playing Skyrim for years now, because mods and different character builds gives lots of alternate play value from the same game. I can watch the Avengers once or twice a year at most and have most of it memorized; its the same every time.

Posted by: Christopher R Taylor at January 27, 2021 01:01 PM (KZzsI)

318 I bought a share of GME yesterday for fun, but at some point people who bought will be left holding that bag.

To frontrun Wall St., buy bitcoin instead.

It is immune to bailouts and debasement and Fed funny business (it thrives off it in fact).

Posted by: Jose at January 27, 2021 01:01 PM (L9Ewk)

319 Politico- YouTube suspends Donald Trump indefinitely.

Posted by: redridinghood at January 27, 2021 01:01 PM (NpAcC)

320 Oh and on the stock side - stocks originated as a way for people to pool money together to produce something of value - buy a ship, found a colony, build a factory, whatever.

How does short selling add to that? Seems like just an instrument for people with special access to monetize that access - no?
Posted by: 18-1 at January 27, 2021 01:00 PM (qlFIA)

Well, famously, short sellers brought down Enron. They have a purpose. Legitimate shorts are an important part of keeping the system honest and efficient.

There's kind of a ying and yang. The longs will always try to talk up the stocks their invested in, you want someone to have a financial incentive to tell the other side of the story as well.

Posted by: Harry Paratestes at January 27, 2021 01:01 PM (UPoLF)

321 Hire Jim-Bob. He only has a High School Education. That makes him a practical moron.

Posted by: JAS, AoSHQ addict at January 27, 2021 01:02 PM (2BZBZ)

322 Oh, and to make it even better -- the broker can lend those same shares to multiple people. Thus how we get to a shorted position that is larger then literally the entire number of shares being publicly traded. And then what? Well.. we'll find out.
Posted by: Harry Paratestes


Is this brokerage house called Bialystock and Blum?

Posted by: Wethal at January 27, 2021 01:02 PM (ZzVCK)

323 The funny part of this is that Gamestop as a company is losing money and just had to close many stores. Now its stock is way up. This illustrates what I try to explain to people all the time: The stock market is based almost entirely on Bull$hit and hype. The fact that a grassroots movement could manipulate a fairly worthless stock like Gamestop and inflate its value so much almost over night so easily and turn the tables on the fat cats is living proof of this. Good on that Reddit group for exposing the lie.

And personally I like Gamestop and it's model of trading in used games and devices for credit. It's a great way to game on the cheap as long as you don't NEED to have the newest game and the newest console on day one. I've saved a lot of money with them with my membership card. I'm sad to see them having so much trouble. It's a very good business model and I don't get why it's not working for them.

Posted by: Agent Cooper at January 27, 2021 01:02 PM (Dc5Qe)

324 Oh, yeah, this could collapse multiple hedge funds in NY. Like bankruptcy time. These fucking idiots exposed themselves to literally unlimited risk on what is looking more and more like naked shorts. This kind of behavior is how we get economic collapses. People should be livid that we allow this kind of behavior to go on in our financial sector. Hopefully this is a cautionary tale to the rest of wall street.

We'll see.
Posted by: Harry Paratestes at January 27, 2021 12:58 PM (UPoLF)

Imagine being the guys whose business empire got collapsed by a bunch of Reddit autists buying stock in a dying video game retailer chain.

Posted by: Vanya at January 27, 2021 01:02 PM (gAFsE)

325 Even better is that some of the original Gamestop
founders, who had major shares and were to be ruined by the short
sellers, are now the billionaires. LOL!


Posted by: Ripley at January 27, 2021 12:52 PM (MxEKc)

Gamestomp

Posted by: 4 at January 27, 2021 01:02 PM (KnJdm)

326 >>>Ameritrade now restricting trading on GME.


That has the making of a class action lawsuit.

Posted by: Saintly Akin at January 27, 2021 01:02 PM (b82nJ)

327 322
Is this brokerage house called Bialystock and Blum?
Posted by: Wethal at January 27, 2021 01:02 PM (ZzVCK)

=========

I'm looking forward to their production of Prisoners of Love.

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 01:02 PM (LvTSG)

328 I'm just a simple frozen caveman but how do they "borrow" 140% of something?

I mean I know the answer already but holy crap that's jakey.
Posted by: TexasDan at January 27, 2021 12:39 PM (2HIdp)

You'd be surprised at how much money gets made on phantom stocks. It was a more honest bet to trade on tulip bulbs or South Sea stock than what we have in the stock market today. It can be best described as 'fraud'.

Posted by: AZ Hi Desert (Gringo fuertemente armado - Tempus belli) at January 27, 2021 01:02 PM (N3El/)

329 The problem came when a small group of investors realized that cant go on forever and started shorting the traunches. That paid off HUGE when the bubble popped.
Posted by: fixerupper at January 27, 2021 01:00 PM (3j8Qf)

The shorts (really they were buying credit default swaps iirc) didn't cause it to blow up. It blew up when fannie and freddie were bleeding too much to continue to subsidize the system. This left a number of the banks who were selling the MBS to them with shitty loans in their inventory. Some were more retarded and thought they were good loans to begin with.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:02 PM (Zm+LZ)

330 How about the real estate agents who told people buy real e at are because IT NEVER GOES DOWN? Was that Wall St too?



Wall st sure had a hand in it. But they were by no means the only villain in the story.

Posted by: Joe XiDen at January 27, 2021 12:52 PM (p847M)
And the result of the 2008 bailouts was that the housing market remains overinflated to this day because it was never allowed to correct. Now imagine a 25yo confronted with buying a house that's 3x more than it should be while also being told they should contribute to a 401k for retirement with the overall market 3x higher than it reasonably should be based on true valuations. No wonder communism seems like a viable alternative to them. No wonder they hate the previous generation.

Posted by: Brian in New Orleans at January 27, 2021 01:03 PM (CQ3Qb)

331 The hacker known as 4chan has grown powerful.

Posted by: Grail Knight at January 27, 2021 01:03 PM (bQtOz)

332 Hues Corporation - Rock The Boat

https://www.youtube.com/watch?v=iKr9wZpjBqE

Posted by: SMH at January 27, 2021 01:03 PM (cwMIU)

333 My company does offshore oilfield work. How the hell are we supposed to employ disabled people?

Have you read the ADA or your state's corollary recently? They're less designed to protect the disabled than to render vast swathes of the populace disabled. Got diabetes? You are almost ironclad guaranteed to be disabled.

Posted by: bear with asymmetrical balls at January 27, 2021 01:04 PM (H5knJ)

334 I don't get why it's not working for them.


Posted by: Agent Cooper at January 27, 2021 01:02 PM (Dc5Qe)

Can't trade what you don't own.

Posted by: 4 at January 27, 2021 01:04 PM (KnJdm)

335 264 browndog,
The rules have changed. Social media now makes it easy for individuals to band together (like wolves) in order to take down their target.

The truth is that elite status has always depending on the acceptance of the masses. The masses can always ultimately destroy any elite system set up if they act en masse instead of individuals.

Elites have effectively destroyed trust in society and there will be hell to pay as a result.

Posted by: whig at January 27, 2021 01:04 PM (pO7gM)

336 The shorts (really they were buying credit default swaps iirc)

----

Yeah.... I know. Was trying to keep it simple.

Posted by: fixerupper at January 27, 2021 01:04 PM (3j8Qf)

337 My company does offshore oilfield work. How the hell are we supposed to employ disabled people?
Posted by: Vanya

Wut? You don't need ballast? You can hire me (my name is Matt) and place me at the entrance.

Posted by: They call me Quadraplegic Matt at January 27, 2021 01:04 PM (cCxiu)

338 Ameritrade now restricting trading on GME.

**

It's not really your money, citizen.

Posted by: Your Betters in Perpetual Government at January 27, 2021 01:04 PM (k1L5r)

339 And BTW, as far as buying stock based on imaginary value, look up the term "Leveraged Buyout" and feel your head spin.

Posted by: Agent Cooper at January 27, 2021 01:04 PM (Dc5Qe)

340 Robert Reich, as Sec. of the Treasury, after the US Senate told him LOLGF on bailing out Mexico and his Wall St buddies used the IMF, which is heavily supported by the US in funding, to bail Mexico out to the tune of over $20 billion.

Wonder which monetary rabbit will they pull out this time?

Posted by: Anna Puma at January 27, 2021 01:04 PM (2UAWY)

341 167 I have never understood stocks and the one time I bought some, it flatlined and dipped.
So I stay clear.
Posted by: Diogenes


Very wise. Never invest in instruments you don't understand or are too complex.


If you care to learn, start and end with books by Jack Bogle.

Posted by: Just Saying at January 27, 2021 01:04 PM (XfVMu)

342
SR-25 (Sen. Schumer): A Bill to Bail Out Our Pals Who Were Caught Short.

Posted by: Hadrian the Seventh at January 27, 2021 01:04 PM (mht8P)

343 It'll still massively fuck the hedge funds though, obviously, since they're mostly in at a basis of $10 or less and now have to pay hundreds for each share. But retail investors will totally get screwed too. Many on WSB don't care, they're doing this to prove a point to wall street.
Posted by: Harry Paratestes at January 27, 2021 12:39 PM (UPoLF)

How many actual "retail" investors even exist for Gamestop?

Posted by: Alberta Oil Peon at January 27, 2021 01:04 PM (mzC78)

344 Babylon Bee headline: GameStop can now afford to pay you 25 cents for a used game

Posted by: josephistan at January 27, 2021 01:04 PM (Izzlo)

345 Are we too late to short Blockbuster?

Posted by: TexasDan at January 27, 2021 01:04 PM (2HIdp)

346
Derivitives on derivitives gets confusing as hell.

Posted by: fixerupper at January 27, 2021 01:04 PM (3j8Qf)

347 Ameritrade now restricting trading on GME

I am sure its in their terms everyone clicked "I agree" to but didn't read; that they can do this whenever they want.

Posted by: Christopher R Taylor at January 27, 2021 01:04 PM (KZzsI)

348 California confirmed it paid $11.4 BILLION dollars in unemployment claims last year which are now known to have been fraudulent. This is the fraud they've been able to confirm. I'm sure the real number is far worse.

Best and brightest.

https://bit.ly/3poU6J7

Posted by: bonhomme at January 27, 2021 01:05 PM (UW2ZS)

349 GWB pushed the ownership society bullshit during the 2004 campaign. Everyone should buy a house. It is the American Dream!!! Hey look even poor people are buying houses. Wonderful!!!

You know what, not everyone is meant to own a home. It took a few years before everyone figured it out.

Posted by: Joe XiDen at January 27, 2021 01:05 PM (p847M)

350 I'm sure it's emotionally satisfying for the Children of Reddit, but at the end of the day they're buying an asset that's been stripped of any meaningful relationship to its fundamental valuation.

Having read a lot of the posts, they're way more aware of that than you think. None of them expect GameStop to suddenly return to their 90s glory days, or even to be a going concern in 12 months.
Posted by: Ian S. at January 27, 2021 12:59 PM (ZGrMX)


Yeah, they jokingly call themselves retards, but some / most of the posters on there are wayyy more knowledgeable then I am, and I consider myself fairly knowledgeable about stonks.

But they also do stupid shit like YOLO (you only live once) on incredibly high risk / high reward options. Which, to be fair, occasionally turn $50k in to $40 million, like the guy who did the GME play did.

Posted by: Harry Paratestes at January 27, 2021 01:05 PM (UPoLF)

351 326 >>>Ameritrade now restricting trading on GME.


That has the making of a class action lawsuit.

Posted by: Saintly Akin at January 27, 2021 01:02 PM (b82nJ)

Which will go nowhere...

TD can do this. It's legal. It's clearly stated in the contract you sign when you open your account.

Some enterprising attorney may take the case, but it's going nowhere...slowly...at great cost.

Posted by: browndog at January 27, 2021 01:05 PM (BgMrQ)

352 The Gamestoppers may be gloating now but lets see after Gulag and FBI hunt them all down and ruin their social credit score. OK, that doesn't exist, yet. But they will all start off in deep negative territory. .

Posted by: Ripley at January 27, 2021 01:05 PM (MxEKc)

353 I just read that Biden has begun staffing his SCOTUS investigation taskforce... so now we will have many justices and never again have anything but liberal decisions.

Posted by: AnnaS at January 27, 2021 01:05 PM (l4l/z)

354 I have a sneaking suspicion that all the Principles of GameStop and any other investors sold everything. The Hedge fund now owns the worthless business.

Posted by: JAS, AoSHQ addict at January 27, 2021 01:05 PM (2BZBZ)

355
My son plays in the market via RH. I match his investment monthly as he builds a portfolio. He has made quite a bit on the GME thing, AMC, Nokia and another one I don't remember.

Posted by: Hillary Clinton at January 27, 2021 01:05 PM (K2SnJ)

356 These fucking idiots exposed themselves to literally
unlimited risk on what is looking more and more like naked shorts. This
kind of behavior is how we get economic collapses. People should be
livid that we allow this kind of behavior to go on in our financial
sector.

Posted by: Harry Paratestes at January 27, 2021 12:58 PM (UPoLF)

I disagree 100%. Hedge funds are relatively unregulated for a reason. Most people who give them money are well-off and want to have access to gaming the system. So they got their access, and the market is now punishing them.

The total amount of money being manipulated is trivial. We don't need regulation...we just need more popcorn and some pudding cups.

Posted by: CharlieBrown'sDildo at January 27, 2021 01:05 PM (Q9lwr)

357
I actually saw "Zero Hour" a few years ago. It is played absolutely straight, but after seeing "Airplane", I laughed all the way through it.
Posted by: Bozo Conservative....outlaw in America at January 27, 2021


***

I must have seen ZH as a kid on The Late Show, because Airplane!'s plot was incredibly familiar to me the first time I saw it. Deja vu.

Posted by: Lex Luthor at January 27, 2021 01:06 PM (yvr3o)

358 the thing is that they tighten the rules on shorting a few years ago

Posted by: REDACTED at January 27, 2021 01:06 PM (zZxh0)

359 339 And BTW, as far as buying stock based on imaginary value, look up the term "Leveraged Buyout" and feel your head spin.
Posted by: Agent Cooper at January 27, 2021 01:04 PM (Dc5Qe)

A leveraged buyout is a change in capital structure. After an LBO the company might've changed from 50% debt 50% equity financing to 80% debt and 20% equity financing. Then over the next few years they'll shift the structure back to 50/50 while making other operational changes for the company.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:06 PM (Zm+LZ)

360 257 I have little patience for anyone on reddit. There is an incredible overrepresentation of vicious little people on that platform.
So while I'm not a fan of wall st generally, I like cyber mobs less. They're creating a stock bubble for the sole purpose of wiping out the short side of the trade. I'm sure it's emotionally satisfying for the Children of Reddit, but at the end of the day they're buying an asset that's been stripped of any meaningful relationship to its fundamental valuation.
Posted by: Sam In VA

sorry about your shorts, dude.

Posted by: x4 at January 27, 2021 01:06 PM (0tE/i)

361 Is greed still, for the lack of a better word, good?

Posted by: Buzzsaw90 at January 27, 2021 01:06 PM (YboWf)

362 Posted by: Agent Cooper at January 27, 2021 01:02 PM (Dc5Qe)

Precisely

Posted by: thathalfrican - The One at January 27, 2021 01:06 PM (a8b7P)

363 >>>It's a very good business model and I don't get why it's not working for them.
Realestate and new game sales (on disk). Systems are systems. But a lot of their business has been reselling disks. If people buy online and download to the HDD and permalock the game to their PSN XBOX Net account, there is no disk to resell. That reduction in the physical disk sales is killing their ability to buy and resell a second time.

Posted by: Saintly Akin at January 27, 2021 01:06 PM (b82nJ)

364 It was THE FED that waived underwriting rules. The banks actually said.... HEY YOURE MAKING US ASSUME ALL THE RISK BY CARRYING ZERO DOWN UNVERIFIED VALUE LOANS BECAUSE ITS ILLEGAL TO REQUIRE DOWN PAYMENTS AND VERUFY VALUE.

So the Fed said.... OK YEAH NOT FAIR. WE WILL BUY ALL THOSE UNSECURED LOANS SO YOU DONT HAVE TO CARRY THEM. So Fannie Mae then bought em all up, bundled millions of them together as income streaming securities and sold them as equity instruments.


And where did that policy come from? The Democrats, who thought that giving the underclass middle-class trappings would make them middle-class. So they weaponized the Community Reinvestment Act, FORCED banks to make crappy loans (by threatening to restrict opening of branches, etc.), and had Fannie Mae and Freddie Mac buy up the crappy loans.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:06 PM (q4ZRu)

365 The same government that allows our Congress to inside trace on a daily basis will make sure that this "unfair" practice being run by those lower than them will not stand.

Posted by: H Badger at January 27, 2021 01:06 PM (n/0Nw)

366 The wobbly hat will be determining if Harry is a communist.

Posted by: Grail Knight at January 27, 2021 01:07 PM (bQtOz)

367 How many actual "retail" investors even exist for Gamestop?
Posted by: Alberta Oil Peon at January 27, 2021 01:04 PM (mzC7

So i didn't dig in to it as deeply as others did, but according to the original researchers on GME, most of the stock was held by retail investors and institutional investors, which is why a short squeeze was possible. Since institutional investors' shares aren't usually going to be available for short sellers to borrow on margin, while retail shares are.

But now I'd say most is held by retail, namely the WSB people and everyone and their mother who have been following this hilarious story for the last week.

Posted by: Harry Paratestes at January 27, 2021 01:07 PM (UPoLF)

368
I disagree 100%. Hedge funds are relatively unregulated for a reason. Most people who give them money are well-off and want to have access to gaming the system. So they got their access, and the market is now punishing them.

The total amount of money being manipulated is trivial. We don't need regulation...we just need more popcorn and some pudding cups.
Posted by: CharlieBrown'sDildo at January 27, 2021 01:05 PM (Q9lwr)

It is definitely worth noting that hedge funds are a relatively small part of the market. And they engage in a fairly diverse range of activities.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:07 PM (Zm+LZ)

369 330

Yep. Todays 25 year old looks around and figures fuck it how much worse could it be if the gift just ran everything.

Posted by: Joe XiDen at January 27, 2021 01:07 PM (p847M)

370 Is this brokerage house called Bialystock and Blum?
Posted by: Wethal at January 27, 2021 01:02 PM (ZzVCK)

=========

I'm looking forward to their production of Prisoners of Love.
Posted by: TheJamesMadison, back to random thoughts at January 27, 2021


***

"You rotten fruit! You ruined me!"

Posted by: "Bialy" at January 27, 2021 01:07 PM (yvr3o)

371 Aaliyah - Rock The Boat

https://www.youtube.com/watch?v=A5AAcgtMjUI

She would have been 41 had she not died in 2001.

Posted by: SMH at January 27, 2021 01:07 PM (cwMIU)

372 Your Honor, only the 'right' people should be allowed to make money.

The defense rests.

Posted by: Ameritrade at January 27, 2021 01:07 PM (UMXod)

373 BINO is right. A large part of the appeal of socialism is when you notice the corruption in our economic system.
The immediate problem is those corrupt sons of bitches are the ones pushing for socialism, because they see it as a way to get more money/power, and the dopes who think they want socialism can't/won't see it.

Sure that Democrat was corrupt, but this one is gonna give us free healthcare!

Posted by: 18-1 at January 27, 2021 01:07 PM (qlFIA)

374 Damn, I'm old.

Posted by: SMH at January 27, 2021 01:07 PM (cwMIU)

375 335 264 browndog,
The rules have changed. Social media now makes it easy for individuals to band together (like wolves) in order to take down their target.

The truth is that elite status has always depending on the acceptance of the masses. The masses can always ultimately destroy any elite system set up if they act en masse instead of individuals.

Elites have effectively destroyed trust in society and there will be hell to pay as a result.
Posted by: whig at January 27, 2021 01:04 PM (pO7gM)

And this is why I got out of "financial services" after 35 years.

The breaking of the sanctity of legal contracts kept me awake at night. Long, long story...

Posted by: browndog at January 27, 2021 01:08 PM (BgMrQ)

376 My clearest memory of trading places is Jamie Lee's topless scene

Posted by: Busted can of biscuits at January 27, 2021 01:08 PM (2cfUo)

377 This whole situation gives me that proverbial leg tingle. Yeah, I said it.

Posted by: Shinjinrui at January 27, 2021 01:08 PM (Gb130)

378 Walgreens taps Starbucks exec Brewer as CEO. Is CVS still unaffiliated?

Posted by: AnnaS at January 27, 2021 01:08 PM (l4l/z)

379 356 These fucking idiots exposed themselves to literally
unlimited risk on what is looking more and more like naked shorts. This
kind of behavior is how we get economic collapses. People should be
livid that we allow this kind of behavior to go on in our financial
sector.

Posted by: Harry Paratestes at January 27, 2021 12:58 PM (UPoLF)


when you buy a stock for a buck , you can lose, at the most, a buck

when you short a $10 stock, you can have your head pulled thru your ass

Posted by: REDACTED at January 27, 2021 01:08 PM (zZxh0)

380 How does short selling add to that? Seems like just an instrument for people with special access to monetize that access - no?

Posted by: 18-1 at January 27, 2021 01:00 PM (qlFIA)


They are said to contribute to liquidity in the market, accurate pricing information, and effective assignment of capital to valuable economic pursuits.

Obviously, naked shorting and vulture capitalism are more than a bit of an abuse of a good thing, made possible by captured regulatory agencies and people giving money to the right political party.

Posted by: 4 at January 27, 2021 01:08 PM (KnJdm)

381 @282 The PE value of an equity is often rendered meaningless simply by what the market is willing to pay, or not pay. We've had many periods where valuations don't make any sense. There are tech stocks, right now, that break traditional PE valuations because, tech stock.

That's true, generally. But this buying doesn't seem to be based on story or momentum. Rather, it's a move designed to create momentum specifically to wipe out the short side of a trade. The problem with doing that is you create some concentrated equity market bubbles for yourself. This is a $20 stock that's now trading at $330/share almost overnight. You think that's because anyone actually wants to own Gamestop?

Posted by: Sam In VA at January 27, 2021 01:08 PM (Nqq7o)

382 I just read that Biden has begun staffing his SCOTUS investigation
taskforce... so now we will have many justices and never again have
anything but liberal decisions.

Posted by: AnnaS at January 27, 2021 01:05 PM (l4l/z)

So it will the same as it is now?

Posted by: Agent Cooper at January 27, 2021 01:09 PM (Dc5Qe)

383 What is the macroeconomic argument for short selling? How does shorting a stock help create jobs and build up the economy? Maybe a populist party could tax those straight up gambling winnings at 90% or so?

Posted by: motionview at January 27, 2021 01:09 PM (pYQR/)

384 Salute Your Shorts

Posted by: Nickelodeon at January 27, 2021 01:09 PM (UW2ZS)

385 The 2021 Nobel Prize in Economics is hereby awarded to a bunch or retards on Reddit for driving the final nail in the coffin of the Efficient Market Hypothesis.

Posted by: Emmett Milbarge at January 27, 2021 01:09 PM (VbI7r)

386 I have never understood stocks and the one time I bought some, it flatlined and dipped.

This is exactly why I pay someone to manage my brokerage account.

Posted by: Ian S. at January 27, 2021 01:09 PM (ZGrMX)

387 sorry about your shorts, dude.
Posted by: x4 at January 27, 2021 01:06 PM (0tE/i)

No worries, this isn't a hoity toity pants thread.

Posted by: CN at January 27, 2021 01:09 PM (ONvIw)

388 The ringleaders from WSB are going to jail.

Oh, they didn't break a law, but you know the SEC and other assorted agencies are gonna come down on this and make sure this doesn't happen again.

Additionally, the Dems are labeling them insurrectionists and twitter is deleting their accounts

Posted by: trump at January 27, 2021 01:09 PM (GSJcT)

389 378 Walgreens taps Starbucks exec Brewer as CEO. Is CVS still unaffiliated?
Posted by: AnnaS at January 27, 2021 01:08 PM (l4l/z)


Starbucks has drop it's retail super price on bagged beans by 20%

Posted by: REDACTED at January 27, 2021 01:09 PM (zZxh0)

390 364

Bush and the gop were more than happy to sign on . Remember the Ownership Society push by Dubya?

Posted by: Joe XiDen at January 27, 2021 01:09 PM (p847M)

391 Ameritrade now restricting trading on GME.


That has the making of a class action lawsuit.

Posted by: Saintly Akin

Exposure. If you can't make good on your trade, they still have to.
Saw that in '84.

Posted by: MarkY at January 27, 2021 01:09 PM (i022r)

392 I presume the shorters will quickly learn a lesson and not short stocks with the conditions to make this possible

Posted by: Buzzsaw90 at January 27, 2021 01:09 PM (YboWf)

393 Revenge of the nerds writ large. Shorts and derivatives and such are really just gambling. Big hedge firms figured they can rig the game so they always come out ahead even when a player here or there wins the pot. But they never considered some group getting together, not really caring about making money but just out for some revenge against the rigged system. My 401K and IRA are probably getting dinged by this, but I applaud it. Stocks should be about giving companies capitol to grow for a share in their success; not about making money on killing off some smaller companies.

Posted by: PaleRider is simply irredeemable at January 27, 2021 01:10 PM (Aashi)

394 I disagree 100%. Hedge funds are relatively unregulated for a reason. Most people who give them money are well-off and want to have access to gaming the system. So they got their access, and the market is now punishing them.

The total amount of money being manipulated is trivial. We don't need regulation...we just need more popcorn and some pudding cups.
Posted by: CharlieBrown'sDildo at January 27, 2021 01:05 PM (Q9lwr)

Yeah, but let's say you're a hedge fund with $10 billion under management. You have positions all over wall street. You are leveraged to the hilt, and running incredibly risky naked shorts.

One of your shorts backfires in the most spectacular way possible (GME). You need cash NOW. You start selling everything, you start exiting your positions, you start calling in favors. All of a sudden, stock prices are changing, short positions are changing. Turns out your $10 billion + god knows how much in leverage is enough to make the next days $10 billion + god knows how much leverage super exposed. So they start moving stocks, etc. etc.

Posted by: Harry Paratestes at January 27, 2021 01:10 PM (UPoLF)

395 My son plays in the market via RH. I match his investment monthly as he builds a portfolio. He has made quite a bit on the GME thing, AMC, Nokia and another one I don't remember.
Posted by: Hillary Clinton at January 27, 2021 01:05 PM (K2SnJ)


Wait, you have a son?

Posted by: WeBoned! at January 27, 2021 01:10 PM (8k7U7)

396 Shwing!

Posted by: Wayne Campbell at January 27, 2021 01:10 PM (iaaMH)

397 I disagree 100%. Hedge funds are relatively unregulated for a reason. Most people who give them money are well-off and want to have access to gaming the system. So they got their access, and the market is now punishing them.

The total amount of money being manipulated is trivial. We don't need regulation...we just need more popcorn and some pudding cups.
Posted by: CharlieBrown'sDildo at January 27, 2021 01:05 PM (Q9lwr)


Agree 100%.

Where do hedge funds get most of their money? Not from individuals - they get it from insurance companies, pension funds, etc.

Obama thought he was hosing hedge funds during the GM bailout. In fact, the biggest loser was ... the Michigan State Teachers' Pension fund.

You've got to laugh.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:10 PM (q4ZRu)

398 Aaliyah

Why airplanes have stenciled everywhere things like maximum gross weight and center of gravity.

Posted by: Anna Puma at January 27, 2021 01:10 PM (2UAWY)

399

when you buy a stock for a buck , you can lose, at the most, a buck

when you short a $10 stock, you can have your head pulled thru your ass
Posted by: REDACTED at January 27, 2021 01:08 PM (zZxh0)

The hedge funds' ears are filled with poop.

Posted by: LASue at January 27, 2021 01:11 PM (Ed8Zd)

400 So. I have been dabbling with Dytrading since I left my last gig...

What's GameStop's Profits to Earnings Ratio?

Posted by: Barack Hussein Obama at January 27, 2021 01:11 PM (iqLgQ)

401
Could Gamestop take some of this new investment money
and invest is something that is lucrative? Is it possible?
To save their company?

Posted by: Glenn John at January 27, 2021 01:11 PM (LilNs)

402 Arrghh. Capital. to grow. Way to make myself seem ignorant. Oh well. I AM largely ignorant about the stock market and 100% about the world of reddit and 4chan.

Posted by: PaleRider is simply irredeemable at January 27, 2021 01:11 PM (Aashi)

403 347
CJT, I am sure its in their terms everyone clicked "I agree" to but didn't read; that they can do this whenever they want.

You know, that is the assumption people make, but needless to say, contract interpretation by courts is not an absolute and many times the grievance process outlined in the contract can be turned against a company if done by a large enough group of disgruntled customers.

We are going to see this misbehavior spread throughout society because the elites have lost the mandate of heaven and have the stink of self serving and malicious behavior upon them.

Posted by: whig at January 27, 2021 01:11 PM (pO7gM)

404 So they weaponized the Community Reinvestment Act,
FORCED banks to make crappy loans (by threatening to restrict opening of
branches, etc.), and had Fannie Mae and Freddie Mac buy up the crappy
loans.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:06 PM (q4ZRu)

Spot on.

Posted by: 4 at January 27, 2021 01:11 PM (KnJdm)

405 261 *pauses*

That would have been comic gold, Les Nesman of WKRP giving financial advice.
Posted by: Anna Puma at January 27, 2021 12:54 PM (2UAWY)
--------------------------
WKRP is the dystopia we are living in now. After all, "The Big Guy" (according to Hunter's emails) is President.

Posted by: zmdavid at January 27, 2021 01:11 PM (xqRaG)

406 This is a good story. When does Al Franken get ass raped by an ape?

Posted by: Puddin Head at January 27, 2021 01:12 PM (HN0N1)

407 > My clearest memory of trading places is Jamie Lee's topless scene

I find it strangely funny JLC got her start in the "trashy" horror film genre, but only took out her massive mammaries after she took on a role in "legitimate" film.

Posted by: bonhomme at January 27, 2021 01:12 PM (UW2ZS)

408 Thanks for the video explaining what the Reddit crowd is doing. Even I understand it now.

Posted by: Jen the original at January 27, 2021 01:12 PM (B9lJ5)

409 Oh, yeah, this could collapse multiple hedge funds in NY. Like bankruptcy time. These fucking idiots exposed themselves to literally unlimited risk on what is looking more and more like naked shorts. This kind of behavior is how we get economic collapses. People should be livid that we allow this kind of behavior to go on in our financial sector. Hopefully this is a cautionary tale to the rest of wall street.

We'll see.
Posted by: Harry Paratestes at January 27, 2021 12:58 PM (UPoLF)

I know right. Shoot these naked puts are insane. I thought these geniuses had trading algos to catch all kinds of risk...guess not. They deserve it. Hopefully it doesn't bring the rest crashing...ugh

Posted by: Mishdog at January 27, 2021 01:12 PM (F/Rk0)

410 The SEC is a toothless hag, where most of the employees are angling for jobs with the firms they supposedly "regulate..."

Posted by: Michael Christian at January 27, 2021 01:12 PM (zzvON)

411 So. I have been dabbling with Dytrading since I left my last gig...

What's GameStop's Profits to Earnings Ratio?
Posted by: Barack Hussein Obama at January 27, 2021 01

Ask your local corpse-man.

Posted by: LASue at January 27, 2021 01:12 PM (Ed8Zd)

412 Now if we could only get a financial movement going that would put the Soros family in the poor house.

Posted by: Justsayin' at January 27, 2021 01:12 PM (Fs5vw)

413 I have been dabbling with Dytrading

-----

Is that some kind of funeral home ETF???

Posted by: fixerupper at January 27, 2021 01:12 PM (3j8Qf)

414 327 -- No. And it no longer exists. They invested way, way too much of the firm's money in the Chesapeake Bay Bridge. My grandfather told them not to do it, but the senior partners wouldn't listen to him. After all, they were East Coast financial aristocrats. He was nothing but a fat Bohunk from Nebraska. My grandfather retired because of it, and the firm collapsed a few years later.

Posted by: Captain Josepha Sabin -- Bitterly clinging to the deplorable life at January 27, 2021 01:12 PM (cLSW1)

415 Short sellers know this crap can happen but they need reminding from time to time. In bonds, we had a short squeeze (Alabama 8 3/8 for us codgers) and we had a big meeting to sort it out because far more bonds were shorted than issued.

Posted by: spongeworthy at January 27, 2021 01:12 PM (vZqvS)

416 Could Gamestop take some of this new investment money
and invest is something that is lucrative? Is it possible?
To save their company?
Posted by: Glenn John

Gamestop has exactly $0.00 from all this action in their stock.

Posted by: MarkY at January 27, 2021 01:12 PM (i022r)

417 Anna,

Yep.

Still a shame.

She had some pipes on her.

Posted by: SMH at January 27, 2021 01:12 PM (cwMIU)

418 One of your shorts backfires in the most spectacular way possible (GME). You need cash NOW. You start selling everything, you start exiting your positions, you start calling in favors.

At which point you find you have no friends. None. And no one will admit owing you anything.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:12 PM (q4ZRu)

419 Jamie Lee Curtis has the best tits on a guy I ever saw.

Posted by: Had to be said at January 27, 2021 01:12 PM (qlFIA)

420 >> sorry about your shorts, dude.


We're Culottes, bro.

Posted by: garrett at January 27, 2021 01:12 PM (fh9kT)

421 401 Yes, essentially the speculator's money has been taken and if you believe the efficient market hypothesis, GameStop owners could theoretically use the capital to get into new businesses or to invest in other worthwhile properties.

Posted by: whig at January 27, 2021 01:13 PM (pO7gM)

422 Yeah, but let's say you're a hedge fund with $10 billion under management. You have positions all over wall street. You are leveraged to the hilt, and running incredibly risky naked shorts.

One of your shorts backfires in the most spectacular way possible (GME). You need cash NOW. You start selling everything, you start exiting your positions, you start calling in favors. All of a sudden, stock prices are changing, short positions are changing. Turns out your $10 billion + god knows how much in leverage is enough to make the next days $10 billion + god knows how much leverage super exposed. So they start moving stocks, etc. etc.
Posted by: Harry Paratestes at January 27, 2021 01:10 PM (UPoLF)

This degree of exposure isn't really common in hedge funds. Insurance companies, real estate companies, banks all have huge systematic risk. Hedge funds generally aim to be roughly neutralish, being long and short relatively similar assets(this also blows up but less frequently and not in the way you describe). Short-only tends to be for short time periods and small positions.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:13 PM (Zm+LZ)

423 >>>Which will go nowhere...


TD can do this. It's legal. It's clearly stated in the contract you sign when you open your account.


Some enterprising attorney may take the case, but it's going nowhere...slowly...at great cost.
The process is the punishment. Discovery would be a bear and TD would likely settle rather than go through it. Because I about guarantee they didn't do this out of any concern for the market itself rather as a favor to their friends. I'm pretty sure "We can F*ck your trading options to help our friends" isn't a clause in their agreement. So an attorney need only demonstrate there's a reasonable chance that *might* have happened to bring them to the table to not to avoid the case they will likely win, rather to avoid the anal probe that comes with it.

Posted by: Saintly Akin at January 27, 2021 01:13 PM (b82nJ)

424 We don't need regulation...we just need more popcorn and some pudding cups.
Posted by: CharlieBrown'sDildo at January 27, 2021 01:05 PM (Q9lwr)

Also, it's not about more regulation.

Currently, it's illegal for us to do a naked short. I can't call up E-Trade and say "hey, mind if I borrow 100,000 shares at a nominal interest rate for a couple of months? Planning on running a big short here." They'd rightly say "fuck off."

But if I'm a politically connected hedge fund, I can do that all day every day. And, worst case scenario, I walk away from my fund with the millions I'd already pocketed personally and leave etrade holding the bag. Of course, the brokerages are beyond stupid for getting involved in this in the first place, but that's another story.

Posted by: Harry Paratestes at January 27, 2021 01:13 PM (UPoLF)

425 Politico- YouTube suspends Donald Trump indefinitely.
Posted by: redridinghood at January 27, 2021 01:01 PM (NpAcC)

----------------------

Andrew Breitbart: Fuck you, war!

Posted by: President Select Decaf at January 27, 2021 01:13 PM (hpVf/)

426
Janet Leigh was hotter than Jamie Lee Curtis.


Fight me.

Posted by: fixerupper at January 27, 2021 01:13 PM (3j8Qf)

427 Gamestop has exactly $0.00 from all this action in their stock.
Posted by: MarkY at January 27, 2021 01:12 PM (i022r)


Exactly.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:13 PM (q4ZRu)

428 in the early 70's, I would go to London and Paris to buy antiques

buy a 150K and sell it for 450-500K

and I had no idea how, just bought what I liked

now, that was nuts

Posted by: REDACTED at January 27, 2021 01:14 PM (zZxh0)

429 We don't need regulation...we just need more popcorn and some pudding cups.
Posted by: CharlieBrown'sDildo at January 27, 2021 01:05 PM (Q9lwr)

---

LOL

Posted by: SMH at January 27, 2021 01:14 PM (cwMIU)

430 Additionally, the Dems are labeling them insurrectionists and twitter is deleting their accounts

Posted by: trump at January 27, 2021 01:09 PM (GSJcT)

For real?

Posted by: 4 at January 27, 2021 01:14 PM (KnJdm)

431
I know right. Shoot these naked puts are insane. I thought these geniuses had trading algos to catch all kinds of risk...guess not. They deserve it. Hopefully it doesn't bring the rest crashing...ugh
Posted by: Mishdog at January 27, 2021 01:12 PM (F/Rk0)

Trading algorithms to avoid squeezes just causes everyone to rush for the exits at the same time.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:14 PM (Zm+LZ)

432 Shorting is a necessary function in an efficient market. Just like hedging.
A farmer can't hedge his crop unless a speculator is willing to sell that hedge.

Posted by: MarkY at January 27, 2021 01:14 PM (i022r)

433 Remember hat the GOP hill to die on was taxing hedge fund profits at 15%. Meanwhile someone making $75k is in a 22% bracket.

And people wonder why Bernie has a lot of appeal. Hmmm a real mystery.

Posted by: Joe XiDen at January 27, 2021 01:14 PM (p847M)

434 While I'm low on sympathy for the hedge funds, I'd be concerned about

1) This being played off as a poke in the eye for conservatives (you know, because we all support billionaire hedge fund managers /sarc)

2) Who is really behind this? Next stage in the (mythical) great reset bankrupting wall St?

Posted by: PoliticalMcGuffin at January 27, 2021 01:14 PM (md5vd)

435 At which point you find you have no friends. None. And no one will admit owing you anything.
Posted by: Deplorable Jay Guevara at January 27, 2021 01:12 PM (q4ZRu)

They borrowed almost $3 billion 2 days ago from another hedge fund to try to DOUBLE DOWN on their shorts. Which is now also gone, I'm sure.

Posted by: Harry Paratestes at January 27, 2021 01:15 PM (UPoLF)

436 425 Politico- YouTube suspends Donald Trump indefinitely. Posted by: redridinghood at January 27, 2021 01:01 PM (NpAcC)
---
They also demonetized Epoch Times' videos.

This shit is going to end in war.

Posted by: Meade Lux Lewis, Domestic Terrorist at January 27, 2021 01:15 PM (sWM8x)

437 The question's already been asked, I'm sure, but isn't this basically how Fannie/Freddie and mortgage backed securities crashed the stock market back in '08?

Posted by: Ernst Schreiber at January 27, 2021 01:15 PM (GA8EQ)

438 It's a very good business model and I don't get why it's not working for them.
Posted by: Agent Cooper at January 27, 2021 01:02 PM (Dc5Qe)

Gamestop is following in the footsteps of Blockbuster. Physical media makes a lower portion of game sales every year because digital purchases are far more convenient.

They never gave that good of a deal on used media anyway, and combined with pushy retail practices harassing customers to spend at their stores made browsing their stores an unpleasant experience.

Posted by: Sjg at January 27, 2021 01:15 PM (gDSJf)

439 The stock market is based almost entirely on Bull$hit and hype.

-----------------

That's where most of the retirement money is invested. This is not going to end well.

Posted by: President Select Decaf at January 27, 2021 01:15 PM (hpVf/)

440 Wolf 7.62X39 124 grain FMJ 1,000 round case

Four benjamins.

https://bit.ly/3qP2thE

Posted by: bonhomme at January 27, 2021 01:15 PM (UW2ZS)

441 So. I have been dabbling with Dytrading since I left my last gig...

What's GameStop's Profits to Earnings Ratio?
Posted by: Barack Hussein Obama at January 27, 2021 01:11 PM (iqLgQ)

Same as the number of states, 57.

Posted by: Emmett Milbarge at January 27, 2021 01:15 PM (VbI7r)

442 Janet Leigh was hotter than Jamie Lee Curtis.


Fight me.
Posted by: fixerupper at January 27, 2021 01:13 PM (3j8Qf)


you're on

Posted by: Van Johnson at January 27, 2021 01:15 PM (zZxh0)

443 Willowed:
"Office of the Former President".
One quibble. It should have been
Office of the President Emeritus.

Posted by: Vichy Downcast at January 27, 2021 01:15 PM (BFlV8)

444
Wait, you have a son?

Posted by: WeBoned!
______________________

Well, uh, just for the sake of this thread lets call him Chelsea...

Posted by: Hillary Clinton at January 27, 2021 01:15 PM (K2SnJ)

445 Sure, why not? We now have a disabled person potted plant * sitting in the WH.


*Suggested edit

Posted by: Village Idiot's Apprentice at January 27, 2021 01:16 PM (S7VTO)

446 Deon Estus - Heaven Help Me

https://tinyurl.com/y4kt7hvo

Posted by: SMH at January 27, 2021 01:16 PM (cwMIU)

447 384 Salute Your Shorts
Posted by: Nickelodeon at January 27, 2021 01:09 PM (UW2ZS)

Budnick would know how to deal with these little reddit pricks.

Posted by: The Central Scrutinizer at January 27, 2021 01:16 PM (KbCG3)

448 I feel like I'm in Trading Places. Randolph and Mortimer!? That's about my level of retarded smarts when it comes to this stuff.
My teen is all giddy about it for some reason.

Posted by: hazchic at January 27, 2021 01:16 PM (eIFmm)

449 2) Who is really behind this? Next stage in the (mythical) great reset bankrupting wall St?
Posted by: PoliticalMcGuffin at January 27, 2021 01:14 PM (md5vd)

No one, really. I explained what happened upthread. A small time youtuber who really loved gamestop and thought they were getting a rough deal by wall street got in to it in 2019 with risky call options, and as he made more and more money (and posted his results in wsb), more people got involved, and then people suddenly realized the short positions on the stock and were like "umm... guys, look at this" and then it all took off.

Posted by: Harry Paratestes at January 27, 2021 01:16 PM (UPoLF)

450 >>in the early 70's, I would go to London and Paris to buy antiques

buy a 150K and sell it for 450-500K


First few years of eBay, I bought EVERY electric guitar under $80 that was listed as 'Old / Vintage / Antique Guitar FS' and without a picture or further description.

8/10 were junk.

the other 20% were usually home runs.

Posted by: garrett at January 27, 2021 01:16 PM (fh9kT)

451 Any time new regulations are imposed people figure out new ways to game the system. Its like gun laws. Criminals will always get guns no matter how many laws are written.

Posted by: Joe XiDen at January 27, 2021 01:16 PM (p847M)

452 And...
I got filled... not once, but TWICE before Nokia quit trading.
We'll see how that goes.

Posted by: MarkY at January 27, 2021 01:16 PM (i022r)

453 439 The stock market is based almost entirely on Bull$hit and hype.

-----------------

That's where most of the retirement money is invested. This is not going to end well.
Posted by: President Select Decaf at January 27, 2021 01:15 PM (hpVf/)

It's not as bad on average as he portrays it. Furthermore when we get hyperinflation the bond holders will get screwed first.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:16 PM (Zm+LZ)

454 Sure, why not? We now have a potted plant * sitting in the WH.

*Suggested edit
Posted by: Village Idiot's Apprentice at January 27, 2021 01:16 PM (S7VTO)

---

Thank you.

Posted by: SMH at January 27, 2021 01:17 PM (cwMIU)

455 Merry Christmas!

Posted by: George Michael at January 27, 2021 01:17 PM (6fZc+)

456 401 Yes, essentially the speculator's money has been taken and if you believe the efficient market hypothesis

I don't. I stick to more solid beliefs, such as in the Easter Bunny.

The efficient market hypothesis is simply a fig leaf to allow economists to use calculus and pretend that they're the financial equivalent of physicists. It's a joke. Psychology plays a huge role in the stock market, and in the economy in general.

Good luck applying math to people getting a wild hair up their asses periodically.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:17 PM (q4ZRu)

457 Janet Leigh was hotter than Jamie Lee Curtis.


Fight me.
Posted by: fixerupper at January 27, 2021 01:13 PM (3j8Qf)


This is correct.

Posted by: Mr Aspirin Factory at January 27, 2021 01:17 PM (lXdFC)

458 So serious question.

Is this a financial Titanic or Andrea Doria?

Posted by: Anna Puma at January 27, 2021 01:17 PM (2UAWY)

459 Wolf 7.62X39 124 grain FMJ 1,000 round case

Four benjamins.

https://bit.ly/3qP2thE

Posted by: bonhomme at January 27, 2021 01:15 PM (UW2ZS)

I've only got a bolt to run it thru.

Posted by: BignJames at January 27, 2021 01:18 PM (AwYPR)

460 when you short a $10 stock, you can have your head pulled thru your ass. Posted by REDACTED.
^^^^This. I've bought naked puts as insurance. I've written (sold) covered calls (meaning I had a 100 shares to back up each contract) but never written (sold) a naked PUT or shorted stocks. Too risky for even me. I view stocks as monopoly money. Its not real, until you sell the stock, pull out the money (which isn't real either) and buy something Real with it (house, gold, ammo, food, hookers and blow etc)

Posted by: The Walking Dude at January 27, 2021 01:18 PM (cCxiu)

461 My teen is all giddy about it for some reason.
Posted by: hazchic at January 27, 2021 01:16 PM (eIFmm)

-----

Had a buddy in college that got into commodities trading.

Diid very well for a couple of years. One year all his options went the wrong way and he got CRRUUUUUSSSHHHED.

He recovered. But Im guessing he never got "giddy" about trading again.

Posted by: fixerupper at January 27, 2021 01:18 PM (3j8Qf)

462 >>>And where did that policy come from? The Democrats, who thought that giving the underclass middle-class trappings would make them middle-class. So they weaponized the Community Reinvestment Act, FORCED banks to make crappy loans (by threatening to restrict opening of branches, etc.), and had Fannie Mae and Freddie Mac buy up the crappy loans.
Posted by: Deplorable Jay Guevara

Barack Obama and ACORN sued the banks under CRA for not making loan to unqualified customers. after losing, the banks made the very rational decision that it was better to have $1M in bad loans backed up by real collateral that reduced their risk to 20% than pay $1M judgement to grifters and have nothing to show for it except more lawsuits from the grifters

Posted by: x4 at January 27, 2021 01:18 PM (0tE/i)

463 So who is smarter?

Joey Bidet or a ficus?

Posted by: Anna Puma at January 27, 2021 01:18 PM (2UAWY)

464 They borrowed almost $3 billion 2 days ago from another hedge fund to
try to DOUBLE DOWN on their shorts. Which is now also gone, I'm sure.


Try and "burn through" the counter hedge to the panic sell. Basically a muscle maneuver with money. It was "If I just throw another 3 billion at this short the panic selling will start and I can make it all back....."

Posted by: Saintly Akin at January 27, 2021 01:18 PM (b82nJ)

465 FIRST!!!!!

Posted by: Sponge - Saying Ashli Babbitt at January 27, 2021 01:19 PM (Zz0t1)

466
Good luck applying math to people getting a wild hair up their asses periodically.
Posted by: Deplorable Jay Guevara at January 27, 2021 01:17 PM (q4ZRu)

------

Gross. Leave me and my hair out of this. Sad!

Posted by: Donald Trump at January 27, 2021 01:19 PM (Bvn1K)

467 >>The efficient market hypothesis is simply a fig leaf to allow economists to use calculus and pretend that they're the financial equivalent of physicists. It's a joke. Psychology plays a huge role in the stock market, and in the economy in general.


J'ust when you think you know what the market will do next, the Invisible Hand gives you the old Donkey Punch...' - Shit Adam Smith Said, Vol I.

Posted by: garrett at January 27, 2021 01:19 PM (fh9kT)

468 Janet Leigh was hotter than Jamie Lee Curtis.


Fight me.

--

Uh, is that even a question? Yeah, yeah, Jamie had a gread bod. But Janet had a better one, and a beautiful face to go along with it.

Posted by: Lady in Black at January 27, 2021 01:19 PM (O+I8R)

469 So who is smarter?

Joey Bidet or a ficus?
Posted by: Anna Puma at January 27, 2021 01:18 PM (2UAWY)


Trick question!

Joe Biden IS FICUS.

Posted by: Sponge - Saying Ashli Babbitt at January 27, 2021 01:19 PM (Zz0t1)

470 So serious question.

Is this a financial Titanic or Andrea Doria?
Posted by: Anna Puma at January 27, 2021 01:17 PM (2UAWY)

It's more like when Al Czervik dropped his anchor onto Judge Smails' dinghy.

Posted by: Emmett Milbarge at January 27, 2021 01:19 PM (VbI7r)

471 That's where most of the retirement money is invested. This is not going to end well.
Posted by: President Select Decaf at January 27, 2021 01:15 PM (hpVf/)

---

Yeah, about that...

Those of us that don't have retirement, beyond a couple grand in savings, and don't invest, make do with things you can barter with.

Food, water, etc, not to mention precious metals.

It's going to get ugly.

Posted by: SMH at January 27, 2021 01:19 PM (cwMIU)

472 Well, uh, just for the sake of this thread lets call him Chelsea...
Posted by: Hillary Clinton at January 27, 2021 01:15 PM (K2SnJ)


Now I'm confused, I thought the family owned a horse named Chelsea.

Posted by: WeBoned! at January 27, 2021 01:19 PM (8k7U7)

473 WE can stay retarded longer than you can stay solvent.

Posted by: The Democrat Party to America at January 27, 2021 01:19 PM (pYQR/)

474 388 trump,
Actually, the initial entrepreneurs in this gig will probably be able to afford quite good lawyers now. The SEC will take it up the wazoo and like it as most of their law enforcement actions, like the Feebs is based on coercion and fear. Very good lawyers that coincidentally earned their experience at places like the SEC usually win over the civil servants.

Same reason as former IRS agents turned to public accounting get a lot of clients. They know the system.

In addition, if the forum was public and using publicly available data, then it is no different than the financial information industry.

Posted by: whig at January 27, 2021 01:19 PM (pO7gM)

475 Wall Street

Wall Street

What you gonna do

What you gonna do

When the otters come for you?

Posted by: Blanco Basura - moronhorde.com. Not using Okta to secure logins (Unlike Parler) at January 27, 2021 01:19 PM (SchxB)

476 also, ace, I'm honored. that's the first time I've been double featured in the post. Customary typos, and all!

Posted by: Harry Paratestes at January 27, 2021 01:20 PM (UPoLF)

477 >>They borrowed almost $3 billion 2 days ago from another hedge fund to
try to DOUBLE DOWN on their shorts. Which is now also gone, I'm sure.


"Have him try on the glove."

Posted by: The Caddy at January 27, 2021 01:20 PM (fh9kT)

478 This ends badly? Like everything else the past three weeks. For us, not for them.

Posted by: Ziba at January 27, 2021 01:20 PM (S1hrL)

479 Posted by: Harry Paratestes at January 27, 2021 01:10 PM (UPoLF)

I am not arguing against your analysis...I am simply suggesting that the market is punishing the funds that didn't understand the downside of their cute investments. Only a tiny fraction of the market is going to be permanently injured, and most of them deserve it! The rest of us will have to hold on for a slightly bumpy ride for a few days.

Besides, I am heavy cash right now, so this is good for me.

Posted by: CharlieBrown'sDildo at January 27, 2021 01:20 PM (Q9lwr)

480 A leveraged buyout is a change in capital structure.
After an LBO the company might've changed from 50% debt 50% equity
financing to 80% debt and 20% equity financing. Then over the next few
years they'll shift the structure back to 50/50 while making other
operational changes for the company.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:06 PM (Zm+LZ)

My Business Teacher in high school explained it in lay terms:Buyer wants to buy X company. X company is worth 5 billion dollars. Buyer only has 1 billion in total credit/cash/assets available. Buyer goes to bank and says, "I want to buy X company. Loan me 4 billion dollars. I don't actually have that much credit/collateral to secure your loan, but I WILL have it once you loan me the money and I buy X company. Because X company is worth 5 billion."
Bank: Of course, here is your 4 billion sir!
???????????I could never wrap my head around this.

Posted by: Agent Cooper at January 27, 2021 01:20 PM (Dc5Qe)

481 At some point (post TARP) iirc, they limited "rehypothecation" (hypothetically borrowing as asset multiple times, as surety on debt?) to one time, not several ... except in London, where infinity is still possible. idk if that applies to how they do naked shorts or all that ... over my head, and makes my blood boil to watch the rich devise ways to steal our productivity.

Posted by: illiniwek at January 27, 2021 01:20 PM (Cus5s)

482 So when do I get my paper copies of Nokia stock?

Posted by: IP at January 27, 2021 01:20 PM (isHRY)

483 "So who is smarter?

Joey Bidet or a ficus?"

Smarter as in smart like a rat,

Or able to form cogent thoughts?

I'm gonna go with the ficus.

Posted by: Village Idiot's Apprentice at January 27, 2021 01:20 PM (S7VTO)

484 The most efficient markets were when there were no regulations. People knew there was insider trading and all sorts of manipulation. And they asses that risk accordingly. Now we pretend everything is above board and wish away that risk which is still there as before.

Posted by: Joe XiDen at January 27, 2021 01:20 PM (p847M)

485 The problem with this, as we will see soon enough, is you need political protection to remain a market manipulator. Redditors crushing hedge fund guys will all end up on no-fly lists and/or in prison unless they start buying off GOPe senators real soon.

Posted by: All Just Part of the Plan at January 27, 2021 01:21 PM (dYe5S)

486 My Business Teacher in high school explained it in lay terms:Buyer wants to buy X company. X company is worth 5 billion dollars. Buyer only has 1 billion in total credit/cash/assets available. Buyer goes to bank and says, "I want to buy X company. Loan me 4 billion dollars. I don't actually have that much credit/collateral to secure your loan, but I WILL have it once you loan me the money and I buy X company. Because X company is worth 5 billion."
Bank: Of course, here is your 4 billion sir!
???????????I could never wrap my head around this.
Posted by: Agent Cooper at January 27, 2021 01:20 PM (Dc5Qe)

Well say you want to buy a car or a house. You don't have the collateral right now to cover a 500k loan, only an 100k downpayment. But when you buy the house, you'll have collateral. This is how lending works generally.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:21 PM (Zm+LZ)

487 @282 The PE value of an equity is often rendered
meaningless simply by what the market is willing to pay, or not pay.
We've had many periods where valuations don't make any sense. There are
tech stocks, right now, that break traditional PE valuations because,
tech stock.





Posted by: Sam In VA at January 27, 2021 01:08 PM (Nqq7o)

Yes we've had periods where valuations make no sense. However the 2008 bailouts changed everything. The banks told the gov't "Hey if you don't bail us out the whole financial system will collapse." Add to that the percentage of older people dependent on the stock market for their retirement (401k's). Ever since 2008 the govt has been pumping freshly-printed money into the market to keep it propped up - it never stopped. In fact it went into overdrive this past year due to the pandemic. How else can you explain the DOW breaking new high records every day with the entire economy shut down? The DOW should be at 10k right now, at most.

Posted by: Brian in New Orleans at January 27, 2021 01:21 PM (CQ3Qb)

488 See also Jesse Livermore in the 1929 crash. The classic way to make money in a crash is short sells.

Posted by: Notsothoreau - look forward at January 27, 2021 01:21 PM (JKNZq)

489 Try and "burn through" the counter hedge to the panic sell. Basically a muscle maneuver with money. It was "If I just throw another 3 billion at this short the panic selling will start and I can make it all back....."
Posted by: Saintly Akin at January 27, 2021 01:18 PM (b82nJ)

------

Their version of the Vegas lady "Ill suck your DICK for $100.00" and make it all back.

Posted by: fixerupper at January 27, 2021 01:21 PM (3j8Qf)

490 Jesus watching this collection of clowns Biden is putting together try to keep this from imploding the market is going to be sad on one hand (retirement accounts) ball dipping in pudding, burn the whole fucking thing down, hilarious in a gallows type humor way.

Posted by: H Badger at January 27, 2021 01:22 PM (n/0Nw)

491 Wall Street is a corrupt POS along with everything else now.

Elon Musk tweets "I might Love ETSY."

Etsy stock goes through the roof. I'm betting Musk owned a fuckload of Etsy stock.

Hedge funds are just cheaters cheating and making millions.

Posted by: Sponge - Saying Ashli Babbitt at January 27, 2021 01:22 PM (Zz0t1)

492 Revenge of the nerds writ large. Shorts and derivatives and such are really just gambling. Big hedge firms figured they can rig the game so they always come out ahead even when a player here or there wins the pot. But they never considered some group getting together, not really caring about making money but just out for some revenge against the rigged system. My 401K and IRA are probably getting dinged by this, but I applaud it. Stocks should be about giving companies capitol to grow for a share in their success; not about making money on killing off some smaller companies.
Posted by: PaleRider is simply irredeemable at January 27, 2021 01:10 PM (Aashi)

-----------------------

This is similar to Trump's surprise attack and win in 2016. They will change all the rules again or even in retrospect to stop the outsiders.

Posted by: President Select Decaf at January 27, 2021 01:22 PM (hpVf/)

493 How long until Reddit squashes the sub? Surprised it hasn't happened already. Elites don't like peasants figuring out their tricks, as we have had especially seared into our brains of late.

As I understand it, the original short has received death threats against himself and his family. Which is idiotic. The pain he is receiving from his short position is perfect retribution against his type.

Something also to keep in mind is that if you trade in any market, you MUST keep your emotions out of it or you'll get killed. And you can't take anything that happens personally. Never forget that every trade you make has somebody on the other side who is also trying to feed his family.

Posted by: Andy_in_Colorado at January 27, 2021 01:22 PM (CBrao)

494 Short selling is legal. Not sure Elon Musk's pumping a rally, or Reddit rushing to pump up a value to ruin a hedge fund is legal. SEC will likely get involved, as it has with his tweets in the past.

Posted by: Carly at January 27, 2021 01:22 PM (iFhQM)

495 Had a buddy in college that got into commodities trading.

Did very well for a couple of years. One year all his options went the wrong way and he got CRRUUUUUSSSHHHED.


Gambler's ruin. It's SO easy and seductive to overbet your capital.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:22 PM (q4ZRu)

496 50.5% of the Population is Women.


Now. Tell me you can predict what they are gonna do, next.

Posted by: garrett at January 27, 2021 01:22 PM (fh9kT)

497 Wonder if this kicks off one of those mass delusion things like the tulip bulb mania or the South Pacific Company?. Don't recall the exact name of that one. That is an interesting book.

Posted by: PaleRider is simply irredeemable at January 27, 2021 01:23 PM (Aashi)

498 OT - A judge has ruled that information about George Floyd's prior arrests
can't be used at the trials of the four former Minneapolis police
officers charged in his death.

However, Judge Peter Cahill also ruled in a decision made public Tuesday
that the jury can hear about two prior cases involving Derek Chauvin,
the former officer accused of kneeling on handcuffed Floyd's neck
despite Floyd's pleas for air.

https://preview.tinyurl.com/y6oacgxx

Posted by: old chick at January 27, 2021 01:23 PM (sOete)

499 Obama thought he was hosing hedge funds during the GM bailout. In fact, the biggest loser was ... the Michigan State Teachers' Pension fund.

You've got to laugh.
Posted by: Deplorable Jay Guevara at January 27, 2021 01:10 PM (q4ZRu)

And yet the teachers worship Him.

Posted by: Catch Thirty-Thr33 at January 27, 2021 01:23 PM (7PCMN)

500 So when do I get my paper copies of Nokia stock?
Posted by: IP

If you set up your account as a "transfer and ship", 4-6 weeks.
Has to go through a transfer agent.

Posted by: MarkY at January 27, 2021 01:23 PM (i022r)

501 You forget, Bernie is not a Democrat. He was elected as an Independent. They shouldn't even allow him to run in their party.

Posted by: Notsothoreau - look forward at January 27, 2021 01:23 PM (JKNZq)

502 I know right. Shoot these naked puts are insane. I thought these geniuses had trading algos to catch all kinds of risk...guess not. They deserve it. Hopefully it doesn't bring the rest crashing...ugh
Posted by: Mishdog at January 27, 2021 01:12 PM (F/Rk0)
++++
The algos can't hedge against a disaffiliated group with homicidal intent, which is what this is. The hedge funds have responded - whether algorthimicly or not - by buying shares because they have to.

But this was a black swan for the hedge fund, compounded by their outrageously (and recklessly) deep position.

Posted by: Joe Mannix (Not a cop!) at January 27, 2021 01:24 PM (UZVEt)

503 50.5% of the Population is Women.


Now. Tell me you can predict what they are gonna do, next.
Posted by: garrett at January 27, 2021 01:22 PM (fh9kT)

Complain.

Posted by: Emmett Milbarge at January 27, 2021 01:24 PM (VbI7r)

504 The rules have changed. Social media now makes it easy for individuals to band together (like wolves) in order to take down their target. The truth is that elite status has always depending on the acceptance of the masses. The masses can always ultimately destroy any elite system set up if they act en masse instead of individuals.

Posted by: whig at January 27, 2021 01:04 PM (pO7gM)



As Instapundit keeps urging, "Be a pack, not a herd."

Posted by: Wethal at January 27, 2021 01:24 PM (ZzVCK)

505 Wolf 7.62X39 124 grain FMJ 1,000 round case

Four benjamins.

https://bit.ly/3qP2thE

Posted by: bonhomme at January 27, 2021 01:15 PM (UW2ZS)

***

wow, that's a great price these days.

Posted by: Your Betters in Perpetual Government at January 27, 2021 01:24 PM (k1L5r)

506 Democrat voters are a cargo cult.

So far as long as they vote D they immediately get goodies.

Posted by: Anna Puma at January 27, 2021 01:24 PM (2UAWY)

507 The problem young people have is that they view the corruption and crazy stuff like this a capitalism, when its not. Almost every single ill they point at in the economy as capitalism isn't, but they think that means socialism is the solution when its even worse.

Yeah, yeah, Jamie had a gread bod. But Janet had a better one, and a beautiful face to go along with it.

Yeah plus there's credible rumor that Jamie Lee has a ween.

Posted by: Christopher R Taylor at January 27, 2021 01:24 PM (KZzsI)

508 This degree of exposure isn't really common in hedge
funds. Insurance companies, real estate companies, banks all have huge
systematic risk. Hedge funds generally aim to be roughly neutralish,
being long and short relatively similar assets(this also blows up but
less frequently and not in the way you describe). Short-only tends to be
for short time periods and small positions.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:13 PM (Zm+LZ)

Not since "Too Big to Fail." Now they all now if their losses could cause a systemic ripple effect they'll be bailed out.

Posted by: Brian in New Orleans at January 27, 2021 01:24 PM (CQ3Qb)

509 >>As Instapundit keeps urging, "Be a pack, not a herd."


Be a Horde, not a nerd.

Posted by: garrett at January 27, 2021 01:25 PM (fh9kT)

510 Really. There should be a Moron Investment Club/Mutual Fund in which money is invested in like minded businesses and those that are not are subject to hostile takeovers in order to dump Statist/Socialist
CEOs.

Posted by: Catch Thirty-Thr33 at January 27, 2021 01:25 PM (7PCMN)

511 Besides, I am heavy cash right now, so this is good for me.
Posted by: CharlieBrown'sDildo at January 27, 2021 01:20 PM (Q9lwr)

Yes, I don't think this particular situation is going to cause widespread long term damage. But this kind of thing is how we wind up crashing the stock market.

Naked shorts are one of the most risky financial moves you can make. Your upside on the risk is literally unlimited.

For example, most of the positions were bought in to when the stock was at or under $10.

So they sold the stock for $10 each (times millions of shares), thinking it would go down to $2.

instead it went up to $330 and counting.

Posted by: Harry Paratestes at January 27, 2021 01:25 PM (UPoLF)

512 I have never understood stocks and the one time I bought some, it flatlined and dipped.

So I stay clear.

Posted by: Diogenes





*fistbump.

Posted by: rickb223 at January 27, 2021 12:42 PM (0mP7b)

I got out of stocks some time ago. To long in the tooth to bet. Over time I've lost more than I've gained. Fixed return investments more than made up for it in the long run thankfully but I still consider it loss.

Posted by: Javems at January 27, 2021 01:25 PM (phoAb)

513 But Janet had a better one, and a beautiful face to go along with it.
Posted by: Lady in Black at January 27, 2021 01:19 PM (O+I8R)

------

I watched her first movie a couple weeks ago on TMC. Romance of Rosy Ridge.

I was struck how knock down dead gorgeous Janet was, WITHOUT all the modern day enhancements.

Posted by: fixerupper at January 27, 2021 01:25 PM (3j8Qf)

514 494 Short selling is legal. Not sure Elon Musk's pumping a rally, or Reddit rushing to pump up a value to ruin a hedge fund is legal. SEC will likely get involved, as it has with his tweets in the past.
Posted by: Carly at January 27, 2021 01:22 PM (iFhQM)


On what basis? Musk is entitled to his opinion, and to expressing it. Just like anyone else.

Now if he fundamentally misrepresents the situation, and knows he is misrepresenting, another story. But being potentially mistaken in one's opinions should not be a legal matter.

If it were, we could indict the entire Democrat Party.

Wait ... ponders ...

Posted by: Deplorable Jay Guevara at January 27, 2021 01:25 PM (q4ZRu)

515 Elon like anyone else can tweet whatever he wants about investing. As long as it isnt his company. What can the SEC investigate? Then SEC might as well investigate everything said on CNBC because it is the same thing. People giving their opinion on what to buy or sell.

Posted by: Joe XiDen at January 27, 2021 01:25 PM (p847M)

516 If you set up your account as a "transfer and ship", 4-6 weeks.

Has to go through a transfer agent.


I honestly didn't thin they still did that. I saw a share certificate for UPRR once upon a time. Don't recall how much it was for or from when, it was framed and hanging in an office.

Posted by: IP at January 27, 2021 01:26 PM (isHRY)

517 "J'ust when you think you know what the market will do next, the
Invisible Hand gives you the old Donkey Punch...' - Shit Adam Smith
Said, Vol I."

but it is not an invisible hand always, it is often the Government Gorilla, throwing a trillion or five in at will. (or corporate buybacks, or other hedge fund games, that try to break things) AND the passive investor just keeps throwing his paycheck to the "professionals", which is a constant source of food for the sharks.

Posted by: illiniwek at January 27, 2021 01:26 PM (Cus5s)

518 423 Saintly Akin, you get it.
Most of society is based on believing the other people will do the 'right thing'. When elites have destroyed that belief, their own actions will be held to account accordingly.

Posted by: whig at January 27, 2021 01:26 PM (pO7gM)

519 50.5% of the Population is Women.

Now. Tell me you can predict what they are gonna do, next.
Posted by: garrett at January 27, 2021 01:22 PM (fh9kT)

---

Wouldn't be any fun if we were predictable.

Besides, lefty women are very predictable.

Posted by: SMH at January 27, 2021 01:26 PM (cwMIU)

520 >>> Buyer goes to bank and says, "I want to buy X company. Loan me 4 billion dollars. I don't actually have that much credit/collateral to secure your loan, but I WILL have it once you loan me the money and I buy X company. Because X company is worth 5 billion."
Bank: Of course, here is your 4 billion sir!
???????????I could never wrap my head around this.
Posted by: Agent Cooper at January 27, 2021 01:20 PM (Dc5Qe)


I know a guy that bought a multimillion dollar house, in hurricane damage flood zones on a coastal island with a mortgage loan with almost nothing as collateral. He was close to retirement and had multiple massive pensions and such so maybe that was it. He said it was the easiest closing he ever had. Ten times as much hassle as what he had earlier in life for a tiny 80 grand condo.

Posted by: banana Dream at January 27, 2021 01:26 PM (BvX7g)

521 A judge has ruled that information about George Floyd's prior arrests can't be used at the trials of the four former Minneapolis police officers charged in his death.

I will honestly never understand why or how judges can make decisions like this. A man's past has zero relevance to how police might approach their treatment??

Posted by: Christopher R Taylor at January 27, 2021 01:26 PM (KZzsI)

522 513 But Janet had a better one, and a beautiful face to go along with it.
Posted by: Lady in Black at January 27, 2021 01:19 PM (O+I8R)

------

I watched her first movie a couple weeks ago on TMC. Romance of Rosy Ridge.

I was struck how knock down dead gorgeous Janet was, WITHOUT all the modern day enhancements.

one did a topless scene. One didn't

Posted by: Busted can of biscuits at January 27, 2021 01:26 PM (2cfUo)

523 Rules for thee but not for me? That is conspiracy nonsense, Trumpanzees! You are all racist bigots. Projecting that on holy people like us is obviously out of desperation, not to mention disgusting.

Posted by: Satans Retards at January 27, 2021 01:26 PM (uc+oy)

524 497 Wonder if this kicks off one of those mass delusion things like the tulip bulb mania or the South Pacific Company?. Don't recall the exact name of that one. That is an interesting book.
Posted by: PaleRider is simply irredeemable at January 27, 2021 01:23 PM (Aashi)

You talking about the South Sea Bubble?

I recommend A Random Walk Down Wall Street by Burton Malkiel. There is a whole chapter on bubbles.

Posted by: Catch Thirty-Thr33 at January 27, 2021 01:27 PM (7PCMN)

525
Not since "Too Big to Fail." Now they all now if their losses could cause a systemic ripple effect they'll be bailed out.
Posted by: Brian in New Orleans at January 27, 2021 01:24 PM (CQ3Qb)

Hedge funds don't get bailed out. They operate in secondary markets and them going bankrupt doesn't really affect anything. An insurer going bankrupt is a big deal. A hedge fund bankruptcy is routine.

Not to mention hedge funds again, are pretty tiny on the average.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:27 PM (Zm+LZ)

526 Local on the hour news - I forget if it was abc or cbs - had the happy airhead talk about the big GameStop effort as just a bunch of happy people making money.

Our newscasters are Idiot traitors to the (former) union.

Posted by: Loki at January 27, 2021 01:27 PM (KqiMr)

527 Wouldn't be any fun if we were predictable.

Besides, lefty women are very predictable.


Conclusion: lefty women aren't any fun

Posted by: Christopher R Taylor at January 27, 2021 01:27 PM (KZzsI)

528 Complain.
Posted by: Emmett Milbarge at January 27, 2021 01:24 PM (VbI7r)

I guess that mean 50% of the people on this board are women, even the ones that have male apparatus.

Posted by: FenelonSpoke at January 27, 2021 01:27 PM (VP4Cd)

529 >>> I will honestly never understand why or how judges can make decisions like this.


If it's harmful to the left it's not allowed.

Posted by: banana Dream at January 27, 2021 01:27 PM (BvX7g)

530 50.5% of the Population is Women.

Now. Tell me you can predict what they are gonna do, next.
Posted by: garrett at January 27, 2021 01:22 PM (fh9kT)


Refuse to parallel park.

Pay me.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:28 PM (q4ZRu)

531 It would be so fitting of these times if shorting a used video game stock is what collapses the economy and sparks the CWII

Posted by: josephistan at January 27, 2021 01:28 PM (Izzlo)

532 It's a joke. Psychology plays a huge role in the stock market, and in the economy in general.



Good luck applying math to people getting a wild hair up their asses periodically.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:17 PM (q4ZRu)

It's not really a rule or law, like gravity. It is more of a guideline or framework for explaining human economic behavior, which, you note, is problematic.

Posted by: 4 at January 27, 2021 01:28 PM (KnJdm)

533
Now I'm confused, I thought the family owned a horse named Chelsea.
Posted by: WeBoned!

____________________

Close, it's actually a donkey and it's name is AOC

Posted by: Hillary Clinton at January 27, 2021 01:28 PM (K2SnJ)

534 Local on the hour news - I forget if it was abc or cbs - had the happy airhead talk about the big GameStop effort as just a bunch of happy people making money.

Our newscasters are Idiot traitors to the (former) union.
Posted by: Loki at January 27, 2021 01:27 PM (KqiMr)
++++
They are, but this wasn't indicative of that. What you described is indicative of how fucking stupid the press whores are.

Paging Drs. Gell and Mann. Drs. Gell and Mann, please proceed to a white courtesy telephone.

Posted by: Joe Mannix (Not a cop!) at January 27, 2021 01:28 PM (UZVEt)

535 Didn't Chelsea Clinton's male co-conspirator in marriage run a hedge fund that lost 70% of investor money before it closed?

Posted by: Anna Puma at January 27, 2021 01:28 PM (2UAWY)

536 Wonder if this kicks off one of those mass delusion things like the tulip bulb mania or the South Pacific Company?. Don't recall the exact name of that one

Yeah South Sea Bubble. I fully expect that for Bitcoin, and the rest of these cryptocurrencies. Every one of them smacks of a Russian mob con.

Posted by: Christopher R Taylor at January 27, 2021 01:28 PM (KZzsI)

537 As I understand it, the original short has received death threats against himself and his family. Which is idiotic. The pain he is receiving from his short position is perfect retribution against his type.

Something also to keep in mind is that if you trade in any market, you MUST keep your emotions out of it or you'll get killed. And you can't take anything that happens personally. Never forget that every trade you make has somebody on the other side who is also trying to feed his family.
Posted by: Andy_in_Colorado at January 27, 2021 01:22 PM (CBrao)

One of the brokers involved tweeted on January 20th something like "retail investors, you're making a huge mistake -- we know more about shorts then you do, tune in for our live podcast to hear more" which caused the stock price to drop as people panic sold thinking they missed something.

And never did the podcast, and allegedly got death threats. They tweeted later that they didnt want to do the podcast during a presidential inauguration, like they forgot that was happening when they posted the initial tweet.

Pure market manipulation. So yeah, people were pissed.

Posted by: Harry Paratestes at January 27, 2021 01:29 PM (UPoLF)

538 However, Judge Peter Cahill also ruled in a decision made public Tuesday

that the jury can hear about two prior cases involving Derek Chauvin,

the former officer accused of kneeling on handcuffed Floyd's neck

despite Floyd's pleas for air.
Posted by: old chick at January 27, 2021 01:23 PM (sOete)

Floyd is a turd. But that officer was being stupid. He didn't need to do that. Gotta be hard to restrain yourself when you're dealing with scum day in and day out but that's the job. Can't do stuff like that. Especially nowadays, you're just giving BLM the gift of a juicy photo op. I don't know about that officer in particular, but my wife's family comes from MN and they all say Minneapolis PD is corrupt inside and out. Like most big blue city departments.

Posted by: Agent Cooper at January 27, 2021 01:29 PM (Dc5Qe)

539 Elon like anyone else can tweet whatever he wants about investing. As long as it isnt his company. What can the SEC investigate? Then SEC might as well investigate everything said on CNBC because it is the same thing. People giving their opinion on what to buy or sell.
Posted by: Joe XiDen at January 27, 2021 01:25 PM (p847M)


Like I said, corrupt.

The rich get richer playing these fucking games and unless you're in the know, you're fucked.

Posted by: Sponge - Saying Ashli Babbitt at January 27, 2021 01:29 PM (Zz0t1)

540 A man's past has zero relevance to how police might approach their treatment??
Posted by: Christopher R Taylor at January 27, 2021 01:26 PM (KZzsI)

Especially since his record included assaulting a police officer, and that was relayed to the arresting officer in this case.

Judges are no longer judging, they are ruling. That is not acceptable.

Posted by: AZ Hi Desert (Gringo fuertemente armado - Tempus belli) at January 27, 2021 01:29 PM (N3El/)

541 Janet Leigh was hotter than Jamie Lee Curtis.
--

Uh, is that even a question? Yeah, yeah, Jamie had a gread bod. But Janet had a better one, and a beautiful face to go along with it.
Posted by: Lady in Black at January 27, 2021


***

Janet has a chick fight scene, complete with a knife, in "The Five Daughters Affair" episode of the Man From U.N.C.L.E. Very sensual in its own weird way.

Posted by: Wolfus Aurelius at January 27, 2021 01:29 PM (yvr3o)

542 Holy crap - not even hiding it:

@Cukullen

John Kerry firmly declared that the Biden administration will support the Great Reset and that the Great Reset "will happen with greater speed and with greater intensity than a lot of people might imagine."


Link to an article at The Hill in the tweet

Posted by: Lizzy at January 27, 2021 01:29 PM (bDqIh)

543 Refuse to parallel park.

Pay me.
Posted by: Deplorable Jay Guevara at January 27, 2021 01:28 PM (q4ZRu)

---

You're on.

Parallel park a 53' trailer?

Pay me.

Posted by: SMH at January 27, 2021 01:29 PM (cwMIU)

544 NOK hasn't traded in over 1/2 hour, and I can't find news.

Posted by: MarkY at January 27, 2021 01:29 PM (i022r)

545 Anderson Manufacturing 80% lower

0.4 benjamins.

https://bit.ly/3iROmVQ

Posted by: bonhomme at January 27, 2021 01:29 PM (UW2ZS)

546 So, should I buy GameStop now, since it is headed up?

Posted by: Denny Crane! at January 27, 2021 01:29 PM (uc+oy)

547 524 497 Wonder if this kicks off one of those mass delusion things like the tulip bulb mania or the South Pacific Company?. Don't recall the exact name of that one. That is an interesting book.
Posted by: PaleRider is simply irredeemable at January 27, 2021 01:23 PM (Aashi)

You talking about the South Sea Bubble?

I recommend A Random Walk Down Wall Street by Burton Malkiel. There is a whole chapter on bubbles.
Posted by: Catch Thirty-Thr33 at January 27, 2021 01:27 PM (7PCMN)


Go with the classic, "Extraordinary Delusions and the Madness of Crowds," available free on Project Gutenberg, IIRC.

Try applying calculus to THAT.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:30 PM (q4ZRu)

548 It ends when the shorts are all covered and there is no new shorting activity in GME. Or at least normal short behavior such as buying puts to hedge against losses incurred while owning the stock.

Posted by: Rock Girthpounder at January 27, 2021 01:30 PM (6Hjyp)

549 Parallel park a 53' trailer?

Pay me.


Only if a tank is on the trailer.

Posted by: Christopher R Taylor at January 27, 2021 01:30 PM (KZzsI)

550 536 Wonder if this kicks off one of those mass delusion things like the tulip bulb mania or the South Pacific Company?. Don't recall the exact name of that one

Yeah South Sea Bubble. I fully expect that for Bitcoin, and the rest of these cryptocurrencies. Every one of them smacks of a Russian mob con.
Posted by: Christopher R Taylor at January 27, 2021 01:28 PM (KZzsI)

Bitcoin has been around for 12 years and gone through multiple hype cycles, always ending up stronger than before.

Comparing it to tulips is short-sighted.

Posted by: Jose at January 27, 2021 01:30 PM (L9Ewk)

551 And never did the podcast, and allegedly got death threats. They tweeted later that they didnt want to do the podcast during a presidential inauguration, like they forgot that was happening when they posted the initial tweet.

Pure market manipulation. So yeah, people were pissed.
Posted by: Harry Paratestes at January 27, 2021 01:29 PM (UPoLF)

Yeah that's an example of market manipulation which potentially violates the law.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:31 PM (Zm+LZ)

552 Didn't Chelsea Clinton's male co-conspirator in marriage run a hedge fund that lost 70% of investor money before it closed?
Posted by: Anna Puma at January 27, 2021 01:28 PM (2UAWY)

You remember correctly. Greek hedge fund dealing in bonds. Crashed spectacularly.

Posted by: AZ Hi Desert (Gringo fuertemente armado - Tempus belli) at January 27, 2021 01:31 PM (N3El/)

553 Only if a tank is on the trailer.
Posted by: Christopher R Taylor at January 27, 2021 01:30 PM (KZzsI)

---

I've done that.

HETTs make it so easy.

Posted by: SMH at January 27, 2021 01:31 PM (cwMIU)

554 @Cukullen

John Kerry firmly declared that the Biden administration will support the Great Reset and that the Great Reset "will happen with greater speed and with greater intensity than a lot of people might imagine."

Link to an article at The Hill in the tweet
Posted by: Lizzy at January 27, 2021 01:29 PM (bDqIh)


What does Macaulay Culkin know about John Kerry and the Great Reset?

Posted by: Sponge - Saying Ashli Babbitt at January 27, 2021 01:31 PM (Zz0t1)

555 439 The stock market is based almost entirely on Bull$hit and hype.

Until gravity kicks in (See: A Random Walk Down Wall Street, The Japan, Inc bubble that burst in 1990, the Dot-Com Bubble, etc)

There are still fundamentals, but yeah, when you get bubbles, then you get your B$ and hype.

Posted by: Catch Thirty-Thr33 at January 27, 2021 01:31 PM (7PCMN)

556 John Kerry firmly declared that the Biden administration will support the Great Reset and that the Great Reset "will happen with greater speed and with greater intensity than a lot of people might imagine."

------

Careful what you set in motion there horsefaced ketchup slurper man.

Posted by: fixerupper at January 27, 2021 01:31 PM (3j8Qf)

557 What exactly is the great reset?-Socialism under the control a select group of technocrats and globalists?.

Posted by: FenelonSpoke at January 27, 2021 01:31 PM (VP4Cd)

558 You know is loving this? gME employees who have stock options that were worthless until a few days ago.

Posted by: Joe XiDen at January 27, 2021 01:31 PM (p847M)

559 Close, it's actually a donkey and it's name is AOC
Posted by: Hillary Clinton at January 27, 2021 01:28 PM (K2SnJ)


Haha!

Posted by: WeBoned! at January 27, 2021 01:31 PM (8k7U7)

560 Yeah South Sea Bubble. I fully expect that for Bitcoin, and the rest of these cryptocurrencies. Every one of them smacks of a Russian mob con.
Posted by: Christopher R Taylor at January 27, 2021 01:28 PM (KZzsI)


I think so too.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:32 PM (q4ZRu)

561 I'd have to research it but I know that Bill Clinton removed protections that were put in place after the Great Depression. Buying on the margin was a contributor to the big crash.

I had my small amount of money set up in index funds, ala Bogleheads. I've already put in for an in house distribution. I normally do this every year to cover property taxes. But I'm not paying those this year and will use this to get relocated.

Posted by: Notsothoreau - look forward at January 27, 2021 01:32 PM (JKNZq)

562 I will honestly never understand why or how judges can make decisions like this. A man's past has zero relevance to how police might approach their treatment??
Posted by: Christopher R Taylor at January 27, 2021 01:26 PM (KZzsI)

Because it's prejudicial, and unless Chauvin knew of George Floyd's past behavioral problems, has nothing to do with the case.

Chauvin's past is in question, since it goes to his character, and he is the one on trial, not Floyd. Sometimes judges will allow character info in, sometimes not. Apparently this judge decided to allow it. I don't know the specifics, obviously, of the case or the local laws.

Posted by: Harry Paratestes at January 27, 2021 01:32 PM (UPoLF)

563 I will honestly never understand why or how judges can make decisions
like this. A man's past has zero relevance to how police might approach
their treatment??
CRT

A criminal's past has zero relevance, however, a police officer's past does.

Posted by: old chick at January 27, 2021 01:32 PM (sOete)

564 Re: NOK, stagnant for almost an hour now, not trading and no explanation. Very weird.

Posted by: IP at January 27, 2021 01:33 PM (isHRY)

565 Oh wait Jean Francois Cary is setting us up for Bubblegum Crisis?

Posted by: Anna Puma at January 27, 2021 01:33 PM (2UAWY)

566 557 What exactly is the great reset?-Socialism under the control a select group of technocrats and globalists?.
Posted by: FenelonSpoke at January 27, 2021 01:31 PM (VP4Cd)

---

One world government as prophecied by Jesus Christ in Revelation.

Gotta get the pieces in place for the Antichrist, whoever he may be.

Posted by: SMH at January 27, 2021 01:33 PM (cwMIU)

567 Currently, it's illegal for us to do a naked short. I can't call up E-Trade and say "hey, mind if I borrow 100,000 shares at a nominal interest rate for a couple of months? Planning on running a big short here." They'd rightly say "fuck off."

But if I'm a politically connected hedge fund, I can do that all day every day. And, worst case scenario, I walk away from my fund with the millions I'd already pocketed personally and leave etrade holding the bag. Of course, the brokerages are beyond stupid for getting involved in this in the first place, but that's another story.
Posted by: Harry Paratestes at January 27, 2021 01:13 PM (UPoLF)

More or less you're right about naked shorts. At least 6 years ago when I worked for a large brokerage, our high net worth clients could enter those with few stipulations. You had to have a margin account in good standing and you had to have at least 1 million in assets with us. But, heah not for regular peeps.

Posted by: Mishdog at January 27, 2021 01:33 PM (F/Rk0)

568 Bulls and Bears make money. Hogs get slaughtered.

Posted by: Count de Monet in exile at his Fortress of Solitude at January 27, 2021 01:33 PM (4I/2K)

569 >>> 546 So, should I buy GameStop now, since it is headed up?
Posted by: Denny Crane! at January 27, 2021 01:29 PM (uc+oy)


It's better if you request dating advice, medical advice, and financial advice all in the same post to maximize the inevitable destruction and fallout.

Posted by: banana Dream at January 27, 2021 01:33 PM (BvX7g)

570 You know is loving this? gME employees who have stock options that were worthless until a few days ago.
Posted by: Joe XiDen at January 27, 2021 01:31 PM (p847M)

----

Take your profit and get the hell out NOW.

Pigs get fat. Hogs get slaughtered.

Posted by: fixerupper at January 27, 2021 01:33 PM (3j8Qf)

571 Now I'm confused, I thought the family owned a horse named Chelsea.
Posted by: WeBoned! at January 27, 2021


***

Feed her some oats and take her for a moonlight canter around the park.

Posted by: Wolfus Aurelius at January 27, 2021 01:34 PM (yvr3o)

572 You know that the economic team at the white house and major stonk market places are working furiously to make sure this does not and cannot happen again. And to punish anyone who dared do it.

Because one does not allow the unwashed rabble a hand at the levers of power.

Posted by: Christopher R Taylor at January 27, 2021 01:34 PM (KZzsI)

573 Harry P.
You're forgetting the officer knew the perp.

Posted by: MarkY at January 27, 2021 01:34 PM (i022r)

574 >>>OT - A judge has ruled that information about George Floyd's prior arrests

can't be used at the trials of the four former Minneapolis police

officers charged in his death.

And....that's an appeal. Of course his "arrest record" and dealings with colleagues is pertinent inasmuch as it would be known and reasonably affect an officers decision making process on how to deal Floyd's arrest. Well the results will be elucidating as to the state of Justice in the US.

I'm old enough to remember when similar actions in the past weren't admissible as evidence as such, whereas any thing you knew or reasonably should have known that would influence your decision to use force was absolutely admissible.

Posted by: Saintly Akin at January 27, 2021 01:34 PM (b82nJ)

575 There are reports that the Biden White House is "monitoring the situation" with GameStop. LOLOLOLOLOL.

Posted by: Ian S. at January 27, 2021 01:34 PM (ZGrMX)

576 Floyd is a turd. But that officer was being stupid. He didn't need to do that. Gotta be hard to restrain yourself when you're dealing with scum day in and day out but that's the job. Can't do stuff like that. Especially nowadays, you're just giving BLM the gift of a juicy photo op. I don't know about that officer in particular, but my wife's family comes from MN and they all say Minneapolis PD is corrupt inside and out. Like most big blue city departments.
Posted by: Agent Cooper at January 27, 2021 01:29 PM (Dc5Qe)

This. Mr. Floyd was NO saint by a long shot. But he should be alive and (possibly, depending on what the jury did) in a slam someplace.

Posted by: Catch Thirty-Thr33 at January 27, 2021 01:34 PM (7PCMN)

577 John Kerry firmly declared that the Biden administration will support the Great Reset and that the Great Reset "will happen with greater speed and with greater intensity than a lot of people might imagine."

------

Careful what you set in motion there horsefaced ketchup slurper man.
Posted by: fixerupper at January 27, 2021 01:31 PM (3j8Qf)

He says this on the same day a bunch of Reddit autists are destabilizing Wall Street?

Posted by: Vanya at January 27, 2021 01:34 PM (gAFsE)

578 More or less you're right about naked shorts. At least 6 years ago when I worked for a large brokerage, our high net worth clients could enter those with few stipulations. You had to have a margin account in good standing and you had to have at least 1 million in assets with us. But, yeah not for regular peeps.
Posted by: Mishdog at January 27, 2021 01:33 PM (F/Rk0)

The lender doesn't want to end up high and dry if the borrower gets a margin call.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:34 PM (Zm+LZ)

579 Because one does not allow the unwashed rabble a hand at the levers of power.
Posted by: Christopher R Taylor at January 27, 2021 01:34 PM (KZzsI)

---

They don't know Americans very well.

Posted by: SMH at January 27, 2021 01:34 PM (cwMIU)

580 PETA: "Eating animals is speciesist."

Yes, actually. I'm OK with being speciesist. Humans first!

https://bit.ly/2YmEaeB

Posted by: bonhomme at January 27, 2021 01:34 PM (UW2ZS)

581 Chauvin and Floyd had a history. So Floyds past should definitely be allowed. It is different than if it was a random encounter with a stranger in which case the criminals history would not be relevant.

Posted by: Joe XiDen at January 27, 2021 01:35 PM (p847M)

582 I know a guy that bought a multimillion dollar
house, in hurricane damage flood zones on a coastal island with a
mortgage loan with almost nothing as collateral. He was close to
retirement and had multiple massive pensions and such so maybe that was
it. He said it was the easiest closing he ever had. Ten times as much
hassle as what he had earlier in life for a tiny 80 grand condo.

Posted by: banana Dream at January 27, 2021 01:26 PM (BvX7g)

I was talking to my wife about something like this the other day. How does it work if you're, say, 80 years old and want to buy a house? How do they allow you to take out a 30 year loan at that point? Obviously, they can't stop you and I'm certainly not saying they should be able to. But how does that work for the bank when they know there's no way you'll live to the end of the loan?

Posted by: Agent Cooper at January 27, 2021 01:35 PM (Dc5Qe)

583 Parallel park a 53' trailer?

Posted by: SMH at January 27, 2021 01:29 PM (cwMIU)

That is fun! Did it during the 1997 Teamsters strike.

Posted by: CharlieBrown'sDildo at January 27, 2021 01:35 PM (Q9lwr)

584 Bank: Of course, here is your 4 billion sir!
???????????I could never wrap my head around this.
Posted by: Agent Cooper at January 27, 2021 01:20 PM (Dc5Qe)

Same principle as a home mortgage?

Posted by: Deep State 910 at January 27, 2021 01:35 PM (+RZls)

585 Didn't Chelsea Clinton's male co-conspirator in marriage run a hedge fund that lost 70% of investor money before it closed?
Posted by: Anna Puma at January 27, 2021 01:28 PM (2UAWY)

You remember correctly. Greek hedge fund dealing in bonds. Crashed spectacularly.
Posted by: AZ Hi Desert (Gringo fuertemente armado - Tempus belli) at January 27, 2021 01:31 PM (N3El/)


Hedge fund, money laundering operation, what's in a word?

I think young Mezvinsky, in between visits to dear old Dad in Club Fed, was channeling "The Producers." Take in money from "donors" wanting to buy influence, "invest" the money in something virtually guaranteed to be worth dog shit, shovel the money to *cough* Democrat influence peddlers, then announce "Oopsie. Mirabile dictu, the 'investment' is now worthless, so you won't be getting your money back." Then wind up the "hedge fund."

It's just another wrinkle on the old "write a book" scam.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:35 PM (q4ZRu)

586 Because it's prejudicial, and unless Chauvin knew of George Floyd's past behavioral problems, has nothing to do with the case.

But what if he did? Then its very key to explaining why he did what he did. And the odds of him knowing are extremely high. Just throwing this out first hand before the case seems prejudicial in the other direction: deliberately putting a thumb on the scales for the prosecutor. Which, I know, happens all the time but still

Posted by: Christopher R Taylor at January 27, 2021 01:35 PM (KZzsI)

587 >>>Gotta get the pieces in place for the Antichrist, whoever he may be.

Because it sure ain't the potted plant wearing a suit.

Posted by: Saintly Akin at January 27, 2021 01:35 PM (b82nJ)

588 But he should be alive and (possibly, depending on what the jury did) in a slam someplace.
Posted by: Catch Thirty-Thr33 at January 27, 2021 01:34 PM (7PCMN)

------

He'd STILL be dead. He ODd on Fentynal.

Posted by: fixerupper at January 27, 2021 01:36 PM (3j8Qf)

589 582

I was talking to my wife about something like this the other day. How does it work if you're, say, 80 years old and want to buy a house? How do they allow you to take out a 30 year loan at that point? Obviously, they can't stop you and I'm certainly not saying they should be able to. But how does that work for the bank when they know there's no way you'll live to the end of the loan?
Posted by: Agent Cooper at January 27, 2021 01:35 PM (Dc5Qe)

The loan is attached to the property. Worst case scenario(and tbh the bank doesn't enjoy having to deal with it) is they get the collateral.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:36 PM (Zm+LZ)

590 That is fun! Did it during the 1997 Teamsters strike.
Posted by: CharlieBrown'sDildo at January 27, 2021 01:35 PM (Q9lwr)

---

Isn't it!?

I had a spinner on my steering wheel, which made it so easy.

Posted by: SMH at January 27, 2021 01:36 PM (cwMIU)

591 50.5% of the Population is Women.





Now. Tell me you can predict what they are gonna do, next.

Posted by: garrett at January 27, 2021 01:22 PM (fh9kT)

1. Shop for shoes.2. Bitch about something.3. Cry.
*runs*

Posted by: 4 at January 27, 2021 01:36 PM (KnJdm)

592 Take your profit and get the hell out NOW.
Back when I worked for Kodak I has stock (not a lot) from $45 to $69 bucks.
Cashed it in for a couple bucks each when it broke, and look, it's at $12.50 today. If only I'd have waited another 25 years to sell...


Posted by: IP at January 27, 2021 01:37 PM (isHRY)

593 > Chauvin's past is in question, since it goes to his character, and he is the one on trial, not Floyd.

But doesn't Floyd's past influence Chauvin's actions, given Chauvin knew Floyd to some extent?

Posted by: bonhomme at January 27, 2021 01:37 PM (UW2ZS)

594 BTW the SEC allows the big banks and brokerage firms to write up the regulations that the SEC uses to regulate the big banks and brokerage firms.

How's that for rigging the game?

Posted by: Archer at January 27, 2021 01:37 PM (gmo/4)

595 575There are reports that the Biden White House is "monitoring the situation" with GameStop. LOLOLOLOLOL.

Posted by: Ian S. at January 27, 2021 01:34 PM (ZGrMX)

All Biden is doing is alternating between his red and green crayons depending on which chart XiNN is displaying on his TV.

Posted by: Our Country is Screwed at January 27, 2021 01:37 PM (N39Ws)

596 So, I read the add-ons to the thread.

I don't get any of it.

Good thing I give my money to Fidelity, I guess.

Posted by: Sponge - Saying Ashli Babbitt at January 27, 2021 01:37 PM (Zz0t1)

597 575 There are reports that the Biden White House is "monitoring the situation" with GameStop. LOLOLOLOLOL.
Posted by: Ian S. at January 27, 2021 01:34 PM (ZGrMX)

"Mr. Biden is very eager to sell his Gameboy for some Funko Pop dolls"

Posted by: josephistan at January 27, 2021 01:37 PM (Izzlo)

598 The bank gives no shits what happens in 30 years because about 3 seconds after you close, the bank sells the mortgage to Fannie Mae.

Posted by: Joe XiDen at January 27, 2021 01:37 PM (p847M)

599 >>What exactly is the great reset?-Socialism under the control a select group of technocrats and globalists?.

According to the Great Reset's supporters, the plan would fundamentally transform much of society. As World Economic Forum (WEF) head Klaus Schwab wrote back in June, "the world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions. Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a Great Reset of capitalism."

Posted by: Lizzy at January 27, 2021 01:38 PM (bDqIh)

600 John Kerry firmly declared that the Biden administration will support the Great Reset and that the Great Reset "will happen with greater speed and with greater intensity than a lot of people might imagine."

Don't you threaten us!

Posted by: Deplorable Jay Guevara at January 27, 2021 01:38 PM (q4ZRu)

601 Because it's prejudicial, and unless Chauvin knew of George Floyd's past behavioral problems, has nothing to do with the case.
------

I think Floyd and Chavin were both aware of each other's past, doesn't that make Floyd's past behavior relevant?

Posted by: old chick at January 27, 2021 01:38 PM (sOete)

602 557 What exactly is the great reset?-Socialism under the control a select group of technocrats and globalists?.
Posted by: FenelonSpoke at January 27, 2021 01:31 PM (VP4Cd)

A globalist is simply a person with a valid passport, especially if said passport has visas.

Posted by: Catch Thirty-Thr33 at January 27, 2021 01:38 PM (7PCMN)

603 Nokia is trading again.
Had to stop and let the specialists sort out orders, I spect.

Posted by: MarkY at January 27, 2021 01:38 PM (i022r)

604 Scrubbing bubbles!

Posted by: Bertram Cabot, Jr. at January 27, 2021 01:38 PM (63Dwl)

605 >>What exactly is the great reset?-Socialism under the control a select group of technocrats and globalists?.

According to the Great Reset's supporters, the plan would fundamentally transform much of society. As World Economic Forum (WEF) head Klaus Schwab wrote back in June, "the world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions. Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a Great Reset of capitalism."
Posted by: Lizzy at January 27, 2021 01:38 PM (bDqIh)


One of the guiding lights being ... Prince Charles. (I'm not making this up.)

Go long on tumbrils.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:38 PM (q4ZRu)

606 Saw one picture of Joey busily doing his Gov. LePontemaine routine with E.O.s... and in the background was Kamala dressed all in black, all she needed was a black cap over her hair to leave just her eyes exposed.

It was like a wraith of death was hovering near poor Joey.

Posted by: Anna Puma at January 27, 2021 01:38 PM (2UAWY)

607 585 Didn't Chelsea Clinton's male co-conspirator in marriage run a hedge fund that lost 70% of investor money before it closed?
Posted by: Anna Puma at January 27, 2021 01:28 PM (2UAWY)

You remember correctly. Greek hedge fund dealing in bonds. Crashed spectacularly.
Posted by: AZ Hi Desert (Gringo fuertemente armado - Tempus belli) at January 27, 2021 01:31 PM (N3El/)

Hedge fund, money laundering operation, what's in a word?

Posted by: Deplorable Jay Guevara at January 27, 2021 01:35 PM (q4ZRu)

Most hedge funds are not this sort of operation. But it is usually not too hard to identify which ones are. Legitimate funds have exactly the sort of experienced and knowledgeable people running them that you'd think. Illegitimate ones don't.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:39 PM (Zm+LZ)

608 600 John Kerry firmly declared that the Biden administration will support the Great Reset and that the Great Reset "will happen with greater speed and with greater intensity than a lot of people might imagine."

Don't you threaten us!
Posted by: Deplorable Jay Guevara at January 27, 2021 01:38 PM (q4ZRu)

=========

I remember Joe Biden describing the Great Reset to the American people at the second debate.

Posted by: TheJamesMadison, back to random thoughts at January 27, 2021 01:39 PM (LvTSG)

609 In the military, ground guides are invaluable, but in the civvie world, you best pay attention to your mirrors.

To this day, I rarely look at the rearview mirror, only the side mirrors.

Posted by: SMH at January 27, 2021 01:39 PM (cwMIU)

610 My Business Teacher in high school explained it in lay terms:Buyer wants to buy X company. X company is worth 5 billion dollars. Buyer only has 1 billion in total credit/cash/assets available. Buyer goes to bank and says, "I want to buy X company. Loan me 4 billion dollars. I don't actually have that much credit/collateral to secure your loan, but I WILL have it once you loan me the money and I buy X company. Because X company is worth 5 billion."
Bank: Of course, here is your 4 billion sir!
???????????I could never wrap my head around this.
Posted by: Agent Cooper at January 27, 2021 01:20 PM (Dc5Qe)

Same as buying a hundred thousand dollar house with 20 thousand down, and getting a mortgage for 80 thousand, secured by the house itself.

Posted by: Alberta Oil Peon at January 27, 2021 01:39 PM (mzC78)

611 Hedge funds don't get bailed out. They operate in
secondary markets and them going bankrupt doesn't really affect
anything. An insurer going bankrupt is a big deal. A hedge fund
bankruptcy is routine.



Not to mention hedge funds again, are pretty tiny on the average.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:27 PM (Zm+LZ)


LTCM? There used to be a time before ten years ago that banks weren't bailed out by taxpayers either. That changed. The hedge fund that started this with their GME short, Melvin Capital, was already bailed out privately by Citadel on Friday. Now Citadel will need a bailout from somebody. When they can't find one or the entity they do find needs one, well, you're it.

Posted by: Brian in New Orleans at January 27, 2021 01:39 PM (CQ3Qb)

612 So Homeland security put out a terror warning ... Against Conservatives AKA Domestic terrorists.. Anyone basically who questions the election is included in this... Scary times

Posted by: It's me donna at January 27, 2021 01:39 PM (Zmnko)

613 >>Obama thought he was hosing hedge funds during the GM bailout. In fact, the biggest loser was ... the Michigan State Teachers' Pension fund.

You've got to laugh.
Posted by: Deplorable Jay Guevara at January 27, 2021 01:10 PM

>>>>And yet the teachers worship Him.
Posted by: Catch Thirty-Thr33 at January 27, 2021
01:23 PM

Probably because they know they can expect the government to bail out their pension fund at the expense of other taxpayers.

Posted by: Ernst Schreiber at January 27, 2021 01:39 PM (GA8EQ)

614 But what if he did? Then its very key to explaining why he did what he did. And the odds of him knowing are extremely high. Just throwing this out first hand before the case seems prejudicial in the other direction: deliberately putting a thumb on the scales for the prosecutor. Which, I know, happens all the time but still
Posted by: Christopher R Taylor at January 27, 2021 01:35 PM (KZzsI)

I don't know his lawyer's legal strategy. If they made the argument that Chauvin knew Floyd well enough to know his criminal past, and that influenced his decisions that day, then I guess the judge didn't buy it.

I suspect their strategy is "Chauvin was following his training, didn't have any personal animosity toward Floyd, barely knew him, and treated him as he treats everyone" rather then "Chauvin knew he was an ex-con and a drug addict, so treated him shittier then he would a random person on the street."

Posted by: Harry Paratestes at January 27, 2021 01:40 PM (UPoLF)

615 John Kerry firmly declared that the Biden administration will support the Great Reset and that the Great Reset "will happen with greater speed and with greater intensity than a lot of people might imagine."
======

Great. So when should one take the tablets and just call it a fucking day? I'm so sick of this shit.

Asking for a friend.

Posted by: bicentennialguy at January 27, 2021 01:40 PM (vg8iE)

616 Re: NOK, stagnant for almost an hour now, not trading and no explanation. Very weird.
Posted by: IP at January 27, 2021 01:33 PM (isHRY)

Paused while The Man is trying to figure out how to fix his mess.

Posted by: Deep State 910 at January 27, 2021 01:40 PM (+RZls)

617 All Biden is doing is alternating between his red and green crayons depending on which chart XiNN is displaying on his TV.
Posted by: Our Country is Screwed at January 27, 2021 01:37 PM (N39Ws)

---

Don't forget the paste dip.

Posted by: SMH at January 27, 2021 01:40 PM (cwMIU)

618 575 There are reports that the Biden White House is "monitoring the situation" with GameStop. LOLOLOLOLOL.
Posted by: Ian S. at January 27, 2021 01:34 PM (ZGrMX)

"Mr. Biden is very eager to sell his Gameboy for some Funko Pop dolls"
Posted by: josephistan at January 27, 2021 01:37 PM (Izzlo)


He's Bidening his time. Those Beanie Babies will make a comeback!

Posted by: Deplorable Jay Guevara at January 27, 2021 01:40 PM (q4ZRu)

619 Whether our clients win or lose on a trade, we get paid a commission!

Posted by: Duke & Duke at January 27, 2021 01:40 PM (4I/2K)

620 Obama thought he was hosing hedge funds during the GM bailout. In fact, the biggest loser was ... the Michigan State Teachers' Pension fund.

You've got to laugh.
____________

Unless you're a Michigan state taxpayer who now has to make up the difference.

The little guy gets screwed, either way.

Posted by: TrivialPursuer at January 27, 2021 01:40 PM (k4dH2)

621 583 Parallel park a 53' trailer?

Posted by: SMH at January 27, 2021 01:29 PM (cwMIU)

That is fun! Did it during the 1997 Teamsters strike.


Posted by: CharlieBrown'sDildo at January 27, 2021 01:35 PM (Q9lwr)
There are days when I want to give up my IT career and drive truck. Definitely on my bucket list to drive an 18 wheeler at least once.

Posted by: Our Country is Screwed at January 27, 2021 01:40 PM (N39Ws)

622 But doesn't Floyd's past influence Chauvin's actions, given Chauvin knew Floyd to some extent?
Posted by: bonhomme at January 27, 2021 01:37 PM (UW2ZS)

They worked together at a bar. It was known there was friction between the two.

Posted by: AZ Hi Desert (Gringo fuertemente armado - Tempus belli) at January 27, 2021 01:40 PM (N3El/)

623 There are reports that the Biden White House is "monitoring the situation" with GameStop. LOLOLOLOLOL.

--

"Remain calm. All is well!"

Don't you feel safe? I know I do. Chip Diller is "monitoring the situation."

Posted by: Lady in Black at January 27, 2021 01:40 PM (O+I8R)

624 This. Mr. Floyd was NO saint by a long shot. But he should be alive and (possibly, depending on what the jury did) in a slam someplace.

And if he hadn't overdosed himself on fentanyl he would be.

Posted by: Blanco Basura - moronhorde.com. Not using Okta to secure logins (Unlike Parler) at January 27, 2021 01:40 PM (SchxB)

625 "He who sells what isn't his'n
Must buy it back or go to prison."

Posted by: Dr Wang at January 27, 2021 01:40 PM (YLRF6)

626 I'm assuming the short sells make a company a ripe target for corporate takeover.

Posted by: Bitter Clinger at January 27, 2021 01:40 PM (YA914)

627 The more complicated the worse the ultimate disaster?

Posted by: Bertram Cabot, Jr. at January 27, 2021 01:41 PM (63Dwl)

628 Floyd wouldn't be alive even if they never touched him. He'd overdosed on fentynl.

Posted by: Notsothoreau - look forward at January 27, 2021 01:41 PM (JKNZq)

629 582. Because the house is the collateral. When you die your heirs will either sell or buy out the house and the bank gets their cash returned. Meanwhile they receive interest. I have older friends who bought a large piece of farmland and received a forty year loan. They are in their seventies.

Posted by: Jen the original at January 27, 2021 01:41 PM (B9lJ5)

630 618 575 There are reports that the Biden White House is "monitoring the situation" with GameStop. LOLOLOLOLOL.

The biden WH.. Not joe.. He's put a lid on it for the day

Posted by: It's me donna at January 27, 2021 01:41 PM (Zmnko)

631 Fannie and Freddie are the causes of housing booms and crashes. Since the vast majority of mortgages are sold to them the lenders arent all that concerned with pesky things like ability to pay back the money by the borrower.

If banks had to hold the mortgages in house it would be a much different story.

Posted by: Joe XiDen at January 27, 2021 01:41 PM (p847M)

632 go long on pork bellies

Posted by: wth at January 27, 2021 01:41 PM (v0R5T)

633 602 557 What exactly is the great reset?-Socialism under the control a select group of technocrats and globalists?.
Posted by: FenelonSpoke at January 27, 2021 01:31 PM (VP4Cd)

A globalist is simply a person with a valid passport, especially if said passport has visas.
Posted by: Catch Thirty-Thr33 at January 27, 2021 01:38 PM (7PCMN)

You keep saying this but that's obviously not what people use the term as. The EU is a globalist, that is super-nationalist or anti-nationalist, enterprise. Could use the term imperialist as well. But travel between realms existed before nations were formed.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:41 PM (Zm+LZ)

634 569 It's better if you request dating advice, medical advice, and financial advice all in the same post to maximize the inevitable destruction and fallout.
Posted by: banana Dream at January 27, 2021 01:33 PM (BvX7g)

LOL!

In my defense, one of us morons was begging everyone here to buy Bitcoin back in 2012 or so when it was $7.50 or so. I wish I could remember who. Whoever it is is cool enough not to constantly say I told you so.

Posted by: Denny Crane! at January 27, 2021 01:41 PM (uc+oy)

635 >>>>And yet the teachers worship Him.
Posted by: Catch Thirty-Thr33 at January 27, 2021
01:23 PM

Probably because they know they can expect the government to bail out their pension fund at the expense of other taxpayers.
Posted by: Ernst Schreiber at January 27, 2021 01:39 PM (GA8EQ)


More likely that they're too stupid to realize that they got hosed by their Dusky Messiah.

How many teachers have any idea where their pension fund is invested? Most of them probably think it's in a piggy bank in a lockbox.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:42 PM (q4ZRu)

636 I will honestly never understand why or how judges can make decisions
like this. A man's past has zero relevance to how police might approach
their treatment??

Posted by: Christopher R Taylor at January 27, 2021 01:26 PM (KZzsI)

The problem for police here is that the answer is "no." The police are supposed to interact with everybody using the same procedures and protocol regardless of whether you're a known troublemaker just out of jail or a complete stranger. You have to go by the book no matter what, without passion or prejudice. In theory anyway. Is this how it goes in the real world on the street? I'd bet not always. In a perfect world this would be a case by case decision by street cops, but we don't live in that world.

Posted by: Agent Cooper at January 27, 2021 01:42 PM (Dc5Qe)

637 Saw one picture of Joey busily doing his Gov. LePontemaine routine with E.O.s... and in the background was Kamala dressed all in black, all she needed was a black cap over her hair to leave just her eyes exposed.

Tha latest Old Joe video is him fumbling with a pen trying to put it in his pocket, losing it, then having to grab another one to sign with as he mumbles telling what the EO said.

Then a leaf blew into the room on his desk and he signed it.

I may have made up that last part.

Posted by: Christopher R Taylor at January 27, 2021 01:43 PM (KZzsI)

638 > One of the guiding lights being ... Prince Charles. (I'm not making this up.)

Prince Charles is a well-tutored moron. People don't usually catch on very quickly when a moron can speak properly, but go watch any extended interview with the man. He's struggling along with an 80 IQ, max.

Posted by: bonhomme at January 27, 2021 01:43 PM (UW2ZS)

639 nood

Posted by: Harry Paratestes at January 27, 2021 01:43 PM (UPoLF)

640 my son bought a few shares at 80, and sold at 150 based on my suggestion - I could kick myself as it's around 330

well, he made 1K in 2 days - pretty good for a young kid

Posted by: Big Star at January 27, 2021 01:43 PM (pvJV4)

641 629 582. Because the house is the collateral. When you die your heirs will either sell or buy out the house and the bank gets their cash returned. Meanwhile they receive interest. I have older friends who bought a large piece of farmland and received a forty year loan. They are in their seventies.
Posted by: Jen the original at January 27, 2021 01:41 PM (B9lJ5)

In a leveraged buyout the purchase enterprise is the collateral, analogous to the house. Typically the loans made for an LBO are paid off over time like a mortgage.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:43 PM (Zm+LZ)

642 Anyone wanna buy tulip bulbs???

Posted by: runner at January 27, 2021 01:43 PM (HEKn5)

643 There are days when I want to give up my IT career and drive truck. Definitely on my bucket list to drive an 18 wheeler at least once.
Posted by: Our Country is Screwed at January 27, 2021 01:40 PM (N39Ws)

---

That was on my bucket list when I got out in the Army in 2009.

Got my CDL in Texas, and would have done well, except for the recession and getting laid off with about 100 other new drivers at PAM. *shrugs*

Now, it holds no appeal for me, especially when you see what they have to go through. I would have lost my mind if I was a trucker during this plandemic.

Posted by: SMH at January 27, 2021 01:43 PM (cwMIU)

644 So the Great Reset is setting the stage where the vast mass of humanity kicks off a war of extirpation on those with all the money and power.

Posted by: Anna Puma at January 27, 2021 01:43 PM (2UAWY)

645 go long on pork bellies

Posted by: wth at January 27, 2021 01:41 PM (v0R5T)

And concentrated frozen orange juice!

Posted by: Agent Cooper at January 27, 2021 01:43 PM (Dc5Qe)

646 We are going to see this misbehavior spread throughout society because the elites have lost the mandate of heaven and have the stink of self serving and malicious behavior upon them.
Posted by: whig at January 27, 2021 01:11 PM (pO7gM)




and so it begins.

Posted by: G'rump928(c) at January 27, 2021 01:43 PM (yQpMk)

647 The police are supposed to interact with everybody using the same procedures and protocol regardless of whether you're a known troublemaker just out of jail or a complete stranger.

------

That is a bullshit policy.

Posted by: fixerupper at January 27, 2021 01:43 PM (3j8Qf)

648 According to the Great Reset's supporters, the plan would fundamentally transform much of society. As World Economic Forum (WEF) head Klaus Schwab wrote back in June, "the world must act jointly and swiftly to revamp all aspects of our societies and economies, from education to social contracts and working conditions. Every country, from the United States to China, must participate, and every industry, from oil and gas to tech, must be transformed. In short, we need a Great Reset of capitalism."
Posted by: Lizzy at January 27, 2021 01:38 PM (bDqIh)
++++
I'll take "unaccountable global oligarchy in control of an enormous serf class with no other options" for $500, Alex.

Posted by: Joe Mannix (Not a cop!) at January 27, 2021 01:44 PM (UZVEt)

649 "He'd STILL be dead. He ODd on Fentynal."

exactly ... the cop did not kill him, hard evidence for that afaik. And as I hear it, the knee on neck is policy, does not suffocate/choke. It looked really bad to stay there after he was cuffed and limp, but I think there was not even animus in the cop. There should be no trial ... (but cops may well be corrupt in other ways)

Posted by: illiniwek at January 27, 2021 01:44 PM (Cus5s)

650 The police are supposed to interact with everybody using the same procedures and protocol regardless of whether you're a known troublemaker just out of jail or a complete stranger.

That is clearly not the case. If you know someone is wildly dangerous, usually armed, and loves to shoot cops, you treat them differently than the little old lady who got lost in her car.

Posted by: Christopher R Taylor at January 27, 2021 01:44 PM (KZzsI)

651 "There are reports that the Biden White House is "monitoring the situation" with GameStop. LOLOLOLOLOL.
"

While playing MarioKart with drool dripping down his chin.

Posted by: Brian in New Orleans at January 27, 2021 01:44 PM (CQ3Qb)

652 If banks had to hold the mortgages in house it would be a much different story.
Posted by: Joe XiDen at January 27, 2021 01:41 PM (p847M)


Exactly. Same thing with student loans.

Bank loan officer: "You want a loan to pay for college? What are you proposing as a major? Gender studies?? Security, throw this clown out!"

Posted by: Deplorable Jay Guevara at January 27, 2021 01:44 PM (q4ZRu)

653 So Reddit pulled a Soros on wannabe Soroses?


THIS is the absolute best part. May all of 2021 follow this lead.

Posted by: Daisy B at January 27, 2021 01:44 PM (Hswbs)

654 I'd also point out that globalists typically want a visa-free world. No borders. Why would there be borders if the globe was a single country?

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:44 PM (Zm+LZ)

655 NOOD!

UTOOB.

Posted by: Sponge - Saying Ashli Babbitt at January 27, 2021 01:44 PM (Zz0t1)

656 638 > One of the guiding lights being ... Prince Charles. (I'm not making this up.)



Prince Charles is a well-tutored moron. People don't usually catch
on very quickly when a moron can speak properly, but go watch any
extended interview with the man. He's struggling along with an 80 IQ,
max.

Posted by: bonhomme at January 27, 2021 01:43 PM (UW2ZS)
When you factor in all of the inbreeding in his genetic makeup, it makes sense.

Posted by: Our Country is Screwed at January 27, 2021 01:44 PM (N39Ws)

657 Definitely on my bucket list to drive an 18 wheeler at least once.
Posted by: Our Country is Screwed at January 27, 2021 01:40 PM (N39Ws)

-----

They ARE fun to drive. For a bit.

Then it gets old. Real old.

Posted by: fixerupper at January 27, 2021 01:44 PM (3j8Qf)

658 And....that's an appeal. Of course his "arrest record" and dealings with colleagues is pertinent inasmuch as it would be known and reasonably affect an officers decision making process on how to deal Floyd's arrest.
===========================
Those black-robed tyrants can game this all they want. Keif Ellison f'd up bigly for reaching for murder 1, instead of man 1 or 2. He set his own bar so high, I think those guys walk. And BLM can try to find some more shit to burn in Detroit North.

Posted by: Brave Sir Robin at January 27, 2021 01:45 PM (7Fj9P)

659 There are days when I want to give up my IT career and drive truck.

Just in time for self-driving long haul trucks

Posted by: Christopher R Taylor at January 27, 2021 01:45 PM (KZzsI)

660 Remember last year when spot contract crude went into negative #s?

You see, in the spot contract month for a commodity, delivery can be forced. You own it on the day the contract ends, so the seller asks you where you'd like your 40,000 barrels of crude delivered.

Problem was, all the storage tanks were full due to the crash in demand. This set the stage for a different type of squeeze. If you had any storage space available, you could fill it and the new 'owners' would pay you to take it off their hands.

Posted by: GnuBreed at January 27, 2021 01:45 PM (F0YaR)

661 The collateral thing works if the buyer puts some money down. But when you have loans at 100% or even more then the collateral means shit since upon foreclosure it will be worth less than the loan. Nobody ford closes during boom times. They all foreclose when prices drop. With a 20% down banks have a cushion. With nothing down they lose. But they dont lose the federal govt loses as they own most mortgages.

Posted by: Joe XiDen at January 27, 2021 01:46 PM (p847M)

662 Saw one picture of Joey busily doing his Gov. LePontemaine routine with E.O.s... and in the background was Kamala dressed all in black, all she needed was a black cap over her hair to leave just her eyes exposed.

It was like a wraith of death was hovering near poor Joey.
Posted by: Anna Puma at January 27, 2021 01:38 PM (2UAWY)
........

If Joe strokes out she'll run over and grab the pen, push him aside, and keep signing the fucking things.

Posted by: wth at January 27, 2021 01:46 PM (v0R5T)

663 >>>Chauvin's past is in question, since it goes to his character, and he is the one on trial, not Floyd.

A handful of incidents do not "go to your character" when they represent an infinitesimally small fraction of the total number of similar situations you deal with.
For instance. Let's say I have 3 incidents of running a red light on my record. Does that say anything about an accusation of me running a red light? NO because within those 3 that I have citations for there are literally thousands that I did not run. This is prejudicial and should not be on it's face allowed unless there is far more to it.

Posted by: Saintly Akin at January 27, 2021 01:46 PM (b82nJ)

664 Comparing it to tulips is short-sighted.
Posted by: Jose at January 27, 2021 01:30 PM (L9Ewk)

Yep. Tulips actually exist.

Posted by: Alberta Oil Peon at January 27, 2021 01:47 PM (mzC78)

665 The police are supposed to interact with everybody using the same
procedures and protocol regardless of whether you're a known
troublemaker just out of jail or a complete stranger.
----

Then APB's stating escaped felons that are armed and dangerous are against procedure.

Posted by: old chick at January 27, 2021 01:47 PM (sOete)

666 The system only works when the one getting ground to powder are the serfs. The king? His advisors? His minions? Untouchable by such twaddle as penalties for illegal acts.

Posted by: Lord Flashheart at January 27, 2021 01:47 PM (HI3xr)

667 That is clearly not the case. If you know someone is wildly dangerous, usually armed, and loves to shoot cops, you treat them differently than the little old lady who got lost in her car.
Posted by: Christopher R Taylor at January 27, 2021 01:44 PM (KZzsI)


Yep.

Racial profiling - streng verboten. Sexual profiling - A-OK.

Four black teenaged guys in a car in the ghetto at 3 am should be regarded as no more threat than four blue-haired grannies in a car in the suburbs at 8 pm?

Please.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:47 PM (q4ZRu)

668 Yep. Tulips actually exist.
Posted by: Alberta Oil Peon at January 27, 2021 01:47 PM (mzC7


LOL!

As mentioned before, the fundamental difference is that tulip bulbs can at least yield beautiful flowers. Bitcoin, not so much.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:48 PM (q4ZRu)

669 Posted by: Jen the original at January 27, 2021 01:41 PM (B9lJ5)



Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:43 PM (Zm+LZ)
I get this part, but what I mean is- in the real world the bank could never really depend on say, that house, to retain it's 900K value short term. Say the poor 80 year old fellow dies a month later and the house has to go right back on the market. Or that the business in my other example will actually be worth 5 billion if the buyer runs it into the ground in 6 months. How banks can confidently lend that much money in what look like high risk situations to me is baffling.

Posted by: Agent Cooper at January 27, 2021 01:49 PM (Dc5Qe)

670 Elon Musk isn't just anyone giving his opinion. He can crook a finger and make markets move -- and he knows this -- sometimes jumping for the "wrong" stock (Signal App v Signal Advance).
To disclose, I'm pro short selling, those who do their due diligence, and good research is closely guarded for a reason. It's 100% American.

Posted by: Carly at January 27, 2021 01:49 PM (iFhQM)

671 "There are reports that the Biden White House is "monitoring the situation" with GameStop. LOLOLOLOLOL.
_____________

Joe Biden, the guy who when he was at the height of his intellectual powers, was so stupid that he had to cheat his way through a 3rd-rate law school, and who is now operating at an estimated (by people near him) 50% of that intellectual level, is monitoring the situation.

LOL, well that's a relief!

Posted by: TrivialPursuer at January 27, 2021 01:50 PM (k4dH2)

672 646 Grump,
Since 2008 at the very least, we are in the situation of watching institution by institution and its inhabitants setting their credibility on fire and dancing in the ashes. We are no different than the people attending the party ante bellum in Gone With the Wind-spectators to external actors and actions that will affect all of our lives in a very unpredictable way.

At some future point, we will reach a new understanding about society, at least those that live through the burning times.

Posted by: whig at January 27, 2021 01:51 PM (pO7gM)

673 Got about 3-4 inches of snow.

It's pretty, no doubt. Everything looks so pristine...

Then I read about assholes in power, and I have to laugh.

Posted by: SMH at January 27, 2021 01:51 PM (cwMIU)

674 The old saw is this: "The market can remain irrational longer than you can remain solvent."

The Reddit boys weaponized that.

Posted by: Dr. Mongo at January 27, 2021 01:51 PM (IU8aO)

675 The reddit group is battling people like George Soros, who broke the Bank of England by selling British currency he didn't own.

I have long traded options as part of earning a living. Nothing weird, just fairly simple strategies that have a higher chance of winning than they do losing (swing trades, iron condors, covered calls, calendar spreads, and so on).

I'll try to avoid the option lingo.

I can gain the right to sell a stock I don't own, but I need to have the right to buy the same stock in a way that limits the amount of money I can lose.

No investment house is going to "lend" to me shares that I don't own. They will do this favor for huge funds and investors like Soros.

Good for the reddit retards.

Posted by: Michael the Texan at January 27, 2021 01:53 PM (9IdCK)

676 I get this part, but what I mean is- in the real world the bank could never really depend on say, that house, to retain it's 900K value short term. Say the poor 80 year old fellow dies a month later and the house has to go right back on the market. Or that the business in my other example will actually be worth 5 billion if the buyer runs it into the ground in 6 months. How banks can confidently lend that much money in what look like high risk situations to me is baffling.
Posted by: Agent Cooper at January 27, 2021 01:49 PM (Dc5Qe)

Leveraged buyouts are pretty highly vetted. The people to run the business have a history of running similar firms and are usually backed by a fund who does a series of such deals with the bank or group of banks as lending partners.

It's a high enough bar that even existing management might have difficulty getting a loan to buyout the firm.

In the case of the mortgage they might be required to do stuff like that by law or policy, you're right the mortality risk would generally discourage them from doing so.

Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:54 PM (Zm+LZ)

677 thank you ...

Posted by: How the best fishing lures are made at January 27, 2021 01:54 PM (7eG71)

678 F THE OLIGARCHY!

Posted by: Guy Mohawk at January 27, 2021 01:54 PM (r+sAi)

679 Four black teenaged guys in a car in the ghetto
at 3 am should be regarded as no more threat than four blue-haired
grannies in a car in the suburbs at 8 pm?
Please.

Posted by: Deplorable Jay Guevara at January 27, 2021 01:47 PM (q4ZRu)
Of course, and common sense should definitely prevail. But I'm talking procedure here. If you're a beat cop, you probably won't check out the grannies but definitely see what the teens are up to, if they look suspicious and not part of the neighborhood routine. And in that case if you decide to pull over the teenagers OR the grannies, you're supposed to use the same protocol for both. You wouldn't just walk up the car full of teens, assume they're up to no good and draw your pistol and yell "outta of the car and on the ground scumbags!" Because you wouldn't do that to the grannies either. You can roust the teens but you gotta follow the rules when you do it. And by all means call for backup, be extra cautious etc. Cops know their business on this stuff. But you can't violate their rights.

Posted by: Agent Cooper at January 27, 2021 01:59 PM (Dc5Qe)

680 @582 This. Mr. Floyd was NO saint by a long shot. But he should be alive and (possibly, depending on what the jury did) in a slam someplace.


And he would be if he hadn't been taking lethal amounts of fentanyl and methamphetamine up his ass while having chronic cardiovascular conditions and COVID, and decided to throw a spastic fit. He died of an OD.

Not that it'll matter to ANY set of jurors who don't wish to see their homes burned to the ground.

Posted by: Sam In VA at January 27, 2021 02:03 PM (Nqq7o)

681 675- No investment house is going to "lend" to me shares that I don't own. They will do this favor for huge funds and investors like Soros.

Good for the reddit retards.
Posted by: Michael the Texan at January 27, 2021 01:53 PM

I'm not sure that's true. I worked at a broker/dealer and we loaned stock to individual clients all the time.

Posted by: Moonbeam at January 27, 2021 02:09 PM (qe5CM)

682 Just FYI, there's nothing particularly sinister here. This is just standard short selling. Every brokerage will allow even little guys to do this. It's dangerous, though, because your ability to wait out a move against you is more limited than if you owned the shares outright (because you need to post margin to allow you to buy back the shares). And what the Reddit folks did was simply create a "short squeeze," where the short seller(s) have the stock move against them (price rises) and are then forced to buy them back at a loss (which can also help propel the shares upwards even more, squeezing others). If you have enough margin, you can ride out a movement against you, but not indefinitely. At some point, you run out of margin and the brokerage forces you to buy back the stock. BTW, if you own shares kept in a brokerage, the brokerage is probably loaning your shares to a short seller at some point, without your knowledge. It's a shell game, sort of like banks making loans in a fractional reserve banking system (the banking system all of us put our money into every day).

But yea, I giggled when I heard about this. There's nothing like sticking it to Wall Street hedge funds.

Posted by: OnPoint at January 27, 2021 02:14 PM (PTCMu)

683 Mark1971 at 331: So when do we get to see Jamie Lee Curtis topless?
2021 Jamie Lee Curtis? Pass.

Posted by: butch at January 27, 2021 02:14 PM (cHvOo)

684 This is just too awesome. Most hedge fund managers could have been arms smugglers or some other globalist criminal, but chose to leverage their ivy league connections for a Wall Street job making easy billions instead. It's easy when you have no scruples.

Posted by: Chairman LMAO at January 27, 2021 02:15 PM (gDJlP)

685 There really aren't many things more terrifying than weaponized nerd rage.

Posted by: Ernie McCracken at January 27, 2021 02:20 PM (mt2jL)

686 Top donors to Lincoln Project. Note the heavy presence of hedge and vulture funds:

Lone Pine Capital, Senate Majority PAC, Nirvana Software, Aberdeen Inc., David Geffen Co, Sixteen Thiry Fund, Bain Capital, Hellman & Friedman, Do Right, University of California, McArthurglen Group, Democracy Engine, United Health Group, Alphabet Inc, SV Angel LLC, Esther A & Joseph Klingenstein Fund, Fred Hutchinson Cancer Research Center, Qurate Retail, Accel Inc, Pilot House Assoc. Wolverine Gas & Oil, American Media, Geolo Capital, Gund Partnership, LA Promise Fund, Lefkofsky Family Foundation, Oaktree Capital Foundation, PDT Partners, Sequoira Capital, Tawani Enterprises....many others.

Posted by: Truth-Seeker at January 27, 2021 02:20 PM (hb4+V)

687 I'm back baby!!

Posted by: Radio Shack at January 27, 2021 02:26 PM (SWbVS)

688 I'm back baby!! Posted by Radio Shack
Lol

Posted by: The Walking Dude at January 27, 2021 02:35 PM (cCxiu)

689 Naked short selling, or naked shorting, is the practice of short-selling a tradable asset of any kind without first borrowing the security or ensuring that the security can be borrowed.

Posted by: SMOD at January 27, 2021 02:41 PM (3aI0K)

690 This is wonderful news. More of the same going forward. Bankrupt as many as you can when you can and for as long as you can.
Bleeding MONEY is the only way these parasites understand what point you are making. They still don't care, but they do hurt. The object is not to make them decent people but simply to hurt them.
This sounds like a great game once one understands and uses the rules.

Posted by: Dougf at January 27, 2021 02:46 PM (wPQgA)

691 So which hedge fund is next? I'm sure the internet autists have started trying to identify other short sellers that are exposed.

Posted by: Johann Amadeus Metesky at January 27, 2021 02:55 PM (VHk4v)

692 Down Gamestop, down!

Executive Order of the Day: Ain't gonna drill no mo, no mo. Hit the road, man. Ain't gonna drill no mo, no mo, no mo, no mo....

Posted by: Ziba at January 27, 2021 03:04 PM (S1hrL)

693 This is great - it puts the establishment funded by these Wall Street vultures on the spot.
Do they allow MUH FREE MARKET to do its thing and deliver the heads (and money) of some of these assholes to internet autistes who figured out their methods of robbing value from other investors?
Or do they shut down MUH FREE MARKET and expose the sham that it is? That the regulators and such who are supposed to be stopping stock manipulations will only stop stock manipulations if their friends and funders aren't realizing a windfall?

Posted by: Alec Leamas at January 27, 2021 03:13 PM (ssz2a)

694 Raymond Feist has a fantasy series that includes a story called "Rise of a Merchant Prince" where something like this happens.

Guy hears rumors that locusts are hitting another country, and that therefore grain prices will be rising. So he buys grain futures. Then an enemy gets other people to start selling grain futures, so he and his partners go out and actually buy up all the grain from the farmers (rather than buying futures at the trading house).

Then they wait, and screw over the people selling the futures, making them buy grain from them at really high prices before delivering it for the previously agreed on lower price.

Fun, if you're on the screwing side

Posted by: Greg Q at January 27, 2021 04:07 PM (bZ64u)

695 Just in time for self-driving long haul trucks
Posted by: Christopher R Taylor at January 27, 2021 01:45 PM (KZzsI)

Sure. (I have never understood this obsessive with "self-driving" anything, even in areas like trucking where labor costs/concerns can be cut.)

Posted by: Catch Thirty-Thr33 at January 27, 2021 04:27 PM (7PCMN)

696 You keep saying this but that's obviously not what people use the term as. The EU is a globalist, that is super-nationalist or anti-nationalist, enterprise. Could use the term imperialist as well. But travel between realms existed before nations were formed.
Posted by: Red Turban Someguy - The Republic is Already Dead at January 27, 2021 01:41 PM (Zm+LZ)

I keep saying that for a reason. Besides being Laura Ingraham's favorite thing to say, people throw out that term without definition. It can mean almost anything.

My definition is the only thing I can come up with, because there are plenty of people who who have me arrested and throw in jail permanently simply for seeing the Outside World. (There are plenty of xenophobes and isolationists out there.)

The EU is a self-serving bureaucracy.

Posted by: Catch Thirty-Thr33 at January 27, 2021 04:34 PM (7PCMN)

697 Wolf 7.62X39 124 grain FMJ 1,000 round case . . .

That IS a great price.
Now do it with primers.

Posted by: Pookord at January 27, 2021 04:46 PM (WYLQs)

698 I went long bellies today.
Not a contract.
30#s. Costco. $3/#

Posted by: MarkY at January 28, 2021 08:44 PM (Yqi/Y)

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