/r/wsb autists taking on a wallstreet hedgefund. Elon musk involved as always / wallstreetbets / gamestop - Gamergate 2: financial boogaloo

[Apteryx Owenii]

Blah blah "Dems are bad" blah blah.
Dude, we are not in 2015-2016 anymore.
This event is really uniting both people from the left and people from the right to fight against bankers and people who are supporting them.

But 'influencers' on the left- which should be the strongest in favor of this, given their 'eat the rich' LARPing, are already coming up with excuses why they can't support it. Instead, it is with great regret that they must lick the boots of the hedge fund bros they've claimed to detest up until the moment it mattered.

 

[WinchesterPremium]

What other stocks have they shorted?

Actually, just by stocks in general and force the prices up. More "Buy and Hold" stock people would stabilize the market and slow the churn of Wall Street.

None of the other stocks got a Super Short like Gamestop, so they probably won't explode like Gamestop.
Other potential meme stocks are AMC, BB, Nokia, Naked, BBW, silver, and Dogecoin.

 

[muh_moobs]

Blah blah "Dems are bad" blah blah.
Dude, we are not in 2015-2016 anymore.
This event is really uniting both people from the left and people from the right to fight against bankers and people who are supporting them.

"Dems".

They're the mouth pieces atm, so they get shit-canned. I'm no fan of the uniparty and don't believe modern government works for the people regardless of the letters after the name.

As for the unity, it's great and I'm happy but it's just a flash in the pan. As soon as Melvin Capital, along with Citadel and several other as-yet named backers all file for Chapter 11 Monday morning, government will swoop in and do what it do. There WILL be a corporate bail-out, and we'll be back to Jan. 06 where the only options people will have left are the threat of violence or actual violence, and everyone will be split up again.

No one who called demonstrators at the capitol domestic terrorists and white supremacists will march on DC like they did. And rightoids are so demoralized that they'll likely split into two camps; people who stay home to avoid getting their pp's slapped by daddy government, and the boog boys.

In other news today, the DC police and Congress want to make the National Guard mission and security measures enacted for the inauguration permanent. When the government comes to the rescue of the bankers at your expense, your only solution is going to be running fire-fights through the streets of DC. Any non-violent protests will be squashed through a combination of extending COVID lockdowns and stall tactics. People have been calling for an Occupy 2.0 as a result of this, but that won't get anywhere. Commentators like to say that IdPol was dropped in to break that up, but it was just a tool used to hasten the inevitable demise so the bankers could walk on the sidewalk.

The deck is 100% stacked in the establishments favor now. Go ahead and protest. They'll just wait for you to go home. Trying to camp in until they do something? They can just keep things locked down, deny stimulus checks for your family back home to pressure you to leave, and use the police to enforce mask/distancing mandates to whittle the numbers down gradually. Anyone who stays will be given some government designation that makes it legal for them to remove you from your camp and lock you away.

Gotta look two steps ahead, brother. We've got unity for now; how do we keep it, and what do we do with it?

 

[Garm]

None of the other stocks got a Super Short like Gamestop, so they probably won't explode like Gamestop.
Other potential meme stocks are AMC, BB, Nokia, Naked, BBW, silver, and Dogecoin.

Gamestop is that "once in a lifetime" opportunity. If you are just looking to screw the system up, then buying stock so hedge funds can't get it would be part of a larger strategy.

 

[cuddle striker]

So what?

1) WE MADE A FUCKING BANKER CRY ON LIVE TELEVISION.
2) If they go overboard and lock access to the market they still lose money becayse the plebe money they need to play these games is gone
3)WE MADE A FUCKING BANKER CRY ON LIVE TELEVISION

I had a good day off. Made my paycheck in a day and got to see that happen.

I don't even use reddit, my mentor does. I buy what he says to buy. Works out well.

moobs, the next step is what's going on in India. strikes on a massive scale. BLM and maga types just plain not doing a thing they're supposed to. Governors with no hair stylist, senators who can't find coffee or potatoes.

that's next. it'll come. I'm not a fan of corporations or the one-party government myself, but we've all got to get by.

"
Gotta look two steps ahead, brother. We've got unity for now; how do we keep it, and what do we do with it?

 

[Ancient Pioneer]

I don't think people quite understand how this is going to play out. They're making incorrect assumptions on what the Hedge funds must do by law. The hedge funds can fail to cover their positions today, they're just required to fill it or give an in kind substitute or cash payment within 30 days. Reddit seems to think that the Hedge Funds are mandated to return the stock by buying it at whatever price is being sold on the market, be it $300, $500 or $1,00,000 a share by the end of trading hours on Jan 29th, this is incorrect. Wall Street is culturally derived from the guys who looked like the monopoly mascot, sitting in a back room smoking cigars and cutting deals remains an option for these companies just like they did in the 19th and early 20th century. Remember that Warren Buffet made about 2/3rds of his fortune by giving AIG a cash bail out with terms and rates no retail investor could ever touch. Its highly likely that Melvin and the others could just swap their long positions in Amazon or whatever over as an in-kind transfer.

Key Points About Regulation SHO

A 529 plan is a tax-advantaged savings plan designed to encourage saving for future college costs.

www.sec.gov

If you're in Gamestop right now I would look for the exit, you're not going to get better returns than this.

 

[WinchesterPremium]

Gamestop is that "once in a lifetime" opportunity. If you are just looking to screw the system up, then buying stock so hedge funds can't get it would be part of a larger strategy.

Not really lol. Hedge funds also get money if prices rise, and you are never going to buy all the stock ever.

 

[LurkTrawl]

GME is back up to around $410 in pre-market trading at the time of posting. [ archive ]

Edit: Now it's down to $385

View attachment 1880009

Just a reminder:

Andrew Left had a live stream telling his people that Gamestop stock would drop 50% when in reality, it gained 1700%.

I'm sure these people think they can get it down to 20 dollars a share.

For every 12 dollars over 20, they lose 1 billion dollars.

If you're in Gamestop right now I would look for the exit, you're not going to get better returns than this.

Watch and be amazed as people hold for 35 days. It's not about the money.

 

[Exbein]

Remember boys, whatever (((they))) say, just hold the line. don't believe their lies.

 

[axfaxf]

I don't think people quite understand how this is going to play out. They're making incorrect assumptions on what the Hedge funds must do by law. The hedge funds can fail to cover their positions today, they're just required to fill it or give an in kind substitute or cash payment within 30 days. Reddit seems to think that the Hedge Funds are mandated to return the stock by buying it at whatever price is being sold on the market, be it $300, $500 or $1,00,000 a share by the end of trading hours on Jan 29th, this is incorrect. Wall Street is culturally derived from the guys who looked like the monopoly mascot, sitting in a back room smoking cigars and cutting deals remains an option for these companies just like they did in the 19th and early 20th century. Remember that Warren Buffet made about 2/3rds of his fortune by giving AIG a cash bail out with terms and rates no retail investor could ever touch. Its highly likely that Melvin and the others could just swap their long positions in Amazon or whatever over as an in-kind transfer.

Key Points About Regulation SHO

A 529 plan is a tax-advantaged savings plan designed to encourage saving for future college costs.

www.sec.gov

View attachment 1880046


If you're in Gamestop right now I would look for the exit, you're not going to get better returns than this.

Sure, the hedgies can choose to wait it out, so to say. And pay interest. Last time I checked, it was 26%. But nothing is stopping retards to HODL either. At some point, somethings gotta give, and my money is on a win for autism.

 

[Ancient Pioneer]

Sure, the hedgies can choose to wait it out, so to say. And pay interest. Last time I checked, it was 26%. But nothing is stopping retards to HODL either. At some point, somethings gotta give, and my money is on a win for autism.

You didn't read what I wrote, I just told you that they DO NOT have to buy into these obscene prices, they can merely transfer other assets to clear the short debts off and then repurchase when the frenzy has bled off.

 

[muh_moobs]

I don't think people quite understand how this is going to play out. They're making incorrect assumptions on what the Hedge funds must do by law. The hedge funds can fail to cover their positions today, they're just required to fill it or give an in kind substitute or cash payment within 30 days. Reddit seems to think that the Hedge Funds are mandated to return the stock by buying it at whatever price is being sold on the market, be it $300, $500 or $1,00,000 a share by the end of trading hours on Jan 29th, this is incorrect. Wall Street is culturally derived from the guys who looked like the monopoly mascot, sitting in a back room smoking cigars and cutting deals remains an option for these companies just like they did in the 19th and early 20th century. Remember that Warren Buffet made about 2/3rds of his fortune by giving AIG a cash bail out with terms and rates no retail investor could ever touch. Its highly likely that Melvin and the others could just swap their long positions in Amazon or whatever over as an in-kind transfer.

Key Points About Regulation SHO

A 529 plan is a tax-advantaged savings plan designed to encourage saving for future college costs.

www.sec.gov

View attachment 1880046


If you're in Gamestop right now I would look for the exit, you're not going to get better returns than this.

Damn. House wins simply by doing nothing. If I'm not mistaken GME was around $4USD when this kicked off. Melvin has more than enough money to just pay that off and then declare it a loss so they can write it off on their taxes.

Kek.

 

[Secret Asshole]

Fidelity is pretty good IMO. They are a serious brokerage with actual customer support (even physical branches) and not a toy app (though they have a mobile app and it’s quite good). I have heard good things about Schwab though I have never used them. Vanguard is the favorite of the Boglehead boomers but I found their web interface to be outdated and cumbersome. Speaking of which, if you don’t know about Bogleheads, it’s a good resource for learning about boring buy-and-hold type investing.

I've used a few. Most of the websites are pretty shitty and prone to breaking or slow, but customer support has always been fairly decent in fixing the issues. If you're interested in mostly mutual funds then look into the funds' performance and costs. Normally doing a trade will cost around 5 dollars per trade, but if you invest into the company's own mutual or index funds it's free. I forgot which one it is, but either vanguard or fidelity has decent returns and low overhead, to the point where managed portfolios choose those funds over their own at times. Always seemed odd to me but whatever.

Fidelity, Schwab, and Vanguard are the big three that most recommend. (Yeah, some of them may or may not have limited trading or disruptions on $GME during its peak, but if you don't like it, make your own blah blah blah...)

This article goes into pretty good details on the similarities and differences. Without going into much about who I have accounts with, I'd say it's pretty accurate. Though to clarify, $49.95 transaction fees for mutual funds at Schwab are only for non-Schwab mutual funds. All three have their own versions of low-cost total US stock market/S&P 500/international stock market/etc. index funds anyway so that really shouldn't be a huge dealbreaker. Would also add that signing up for Schwab's checking account w/ no ATM & international fees (catch is it's pure online so no cash deposits) comes with a brokerage account so there's that if you want to get like a two-for-one.

Disclaimer: Not a financial expert or adviser or shilling for any broker, only personal opinions, not responsible for losses, etc.

Just wanted to thank all for the advice. After thinking about it, I decided to go with Fidelity as some of my family use them and they seem to be really decent. But of course there's nothing wrong with Schwab/Vanguard and I'm not an expert. If I didn't already have a bank account I probably would have went with Schwab.

Now I just have to fucking delete my WeBull and Robinhood accounts.

Site seems to be pretty overrun right now. I know because I've gotten the same error every time I've applied.

A lot of investing sites are getting massacred right now because everyone wants to fuck around with these assholes. It took me two tries, but it still registered. If you get the error 'we can't verify your identity', just go back to the beginning.

Omg...I don't know why, but just reading this gave me a good 1 minute chuckle.

Oh and as far as investment sites go, I think somebody here said Schwab was ok, but my gut instinct tells me that you should take that with a grain of salt.

Well, it is true lol.

 

[Jaimas]

Sure, the hedgies can choose to wait it out, so to say. And pay interest. Last time I checked, it was 26%. But nothing is stopping retards to HODL either. At some point, somethings gotta give, and my money is on a win for autism.

In the end, Autism always wins.

 

[axfaxf]

You didn't read what I wrote, I just told you that they DO NOT have to buy into these obscene prices, they can merely transfer other assets to clear the short debts off and then repurchase when the frenzy has bled off.

Oh, I did. So, when does the frenzy bled off?

 

[Ancient Pioneer]

Damn. House wins simply by doing nothing.

People on Wall Street aren't idiots, they understood that situations would arise where the investor would be unable to return the shorted assets and made accommodations to resolve it legally. Its Reddit and the fanboys who don't seem to understand that Wall St is a reasonable environment that would rather the parties arbitrate any potential failings rather than getting the government involved.

 

[ditto]

Dogecoin

No hedge fund gives a fuck about Dogecoin. I only want to see bankers cry.

 

[Syaoran Li]

I'm hoping the autists can keep holding the line against the corporate elites.

We should know by tonight how things will look, and I'm hoping the corporatists actually lose for once in their lives. Even it's just a short but massive setback.

 

[muh_moobs]

Gotta say, I'm a little astonished that no one, anywhere, seems to be mentioning what recent politician this little guy looks like . . .

Bathroom's over there, kid.

 

[Ancient Pioneer]

Oh, I did. So, when does the frenzy bled off?

The media circus will bleed off and GME will be in the double digits by end of week tomorrow if I had to guess. There is a lot of money on the table and the prisoner's dilemma tells us that most of these Reddit people will snatch the money and run rather than be driven by ideology. I'd suspect by mid year GME will be in the 20s for stock price. Melvin and friends wont be paying interest as they'll find means to clear the short obligations through asset swaps during this time either.