Random Thought Thread

Nathan the Machinist said:
Is that not classic pump and dump? Where do you want to be in that equation? The idiot holding after the dump? Am I missing something?
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Isn't pump and dump (or really drain and dump) exactly what the hedge fund guys are doing when they let it out that they have taken huge - and I mean YUGE - short positions on a stock? Drive the price down and then collect all that sweet cash from those short positions? Self-fulfilling prophecies.
 
It’s a good time to watch Capital in the 21st Century on Netflix, if you have not done so already (I had mentioned it in the other thread in the past).

Regarding the GameStop farce which became the main story on every MSM outlet since yesterday: I noticed that the talking heads were crying foul about so many retirement funds losing huge $ums because after all it’s typically the same hedgefunds which gamble with thise huge retirement fund pools. However I have not seen any of these talking heads shedding any tears for the same retirement funds losing their shirts on REIT type of shareholdings. For those who are not aware, REITs are heavily invested in your typical malls and such where there are tangible RE assets as opposed to pies in the sky. Interestingly that POS infamous corporate raider Carl Icahn has been shorting the shyte out of REITs since the onset of Covid-19 making billions in others’ misery and misfortune.

Good ol’ unfettered capitalism, eh? Makes me proud of these Robinhood posse if they are legit; wish I had thought of that!
 
fonedork said:
Now this morning, Robinhood, which I use, has banned users from buying GameStop!!!

This link has a good explanation of what happened/is happening.
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Obviously I've never been a big fan of market manipulators that make a ton of money providing no real value to anyone and basically stealing money from everyone else. Seeing shorts take it in the shorts is pretty fun. But I bet a bunch of regular folks are going to buy some overvalued stocks then lose their ass when it comes apart.


Edit to add: this really is the greatest utilization for reddit trolls I've ever heard of
 
The brokerage Robinhood deals through is Citadel Securities, the same firm that bailed out Melvin Capital and took a huge stake in the company. These guys are trying everything they can do, cheating every which way they can. Shut down the exchanges. Nobody can buy. Now Canadian and European investors are rallying the stock back up. It's so cool watching this happen.
 
Nathan the Machinist said:
Obviously I've never been a big fan of market manipulators that make a ton of money providing no real value to anyone and basically stealing money from everyone else. Seeing shorts take it in the shorts is pretty fun. But I bet a bunch of regular folks are going to buy some overvalued stocks then lose their ass when it comes apart.
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You are surely correct. No doubt. And not good.

However, I was taught caveat emptor and that a fool and his money are soon parted. Do they still teach that anymore?
 
Panthera tigris said:
It's been a minute but God favored some powder for us...

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UF in the wood pile

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That is a sweet UF. ECAM scales?
 
Nathan the Machinist said:
Obviously I've never been a big fan of market manipulators that make a ton of money providing no real value to anyone and basically stealing money from everyone else. Seeing shorts take it in the shorts is pretty fun. But I bet a bunch of regular folks are going to buy some overvalued stocks then lose their ass when it comes apart.


Edit to add: this really is the greatest utilization for reddit trolls I've ever heard of
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Yes - might as well go to the casino, but it's their money. Someone will get stuck with the stock when the music stops and lose hugely. It'd also be an interesting time to short the stock - could make a killing for when it *does* come crashing down.
 
beattheheat said:
the Robin Hood posse IS legit,they "short sold" the short sellers and all these hedge funds who invested multi $$$$$$$ got slapped on their heads with a sledge hammer.mark my words,this is definately not the last time this happens,thanks to internet.
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But the big boys don't like losing money, especially to the little guy, which means they'll probably try to change the rules of the game to try to prevent this from happening again.
 
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