villakram Posted January 29, 2021 Share Posted January 29, 2021 2 hours ago, a m ole said: i like the vibe of your post but Warren is with AOC, so is Ted Cruz. Sort of... she came out very much so on the side of market stability and such last night, i.e., the wall street big boys. Somewhat hilarious moment during Jen Psaki's presser today when asked if Yellen would recuse herself (as treasury secretary, she has market regulatory related powers) given the large fees she received from Citadel over the past few years. World leading expert yada, yada, brings me back to the days of her specifically not answering the question while at state. 1 Link to comment Share on other sites More sharing options...
lapal_fan Posted January 29, 2021 Share Posted January 29, 2021 (edited) Been on the reddit forums and I've been crying at the sheer amount of self-depreciation, such as; "Those hedge fund managers probably all studied game theory at Yale and are going through their entire playbook of what to do against rational actors. Too bad their ivy league degrees didn't teach them what to do when coming up against millions of retards and autists." "RETARD POWER I BOUGHT AMC BECAUSE ROBBINGHOOD **** ME. I BELIEVE IN ALL OF YOU. I WILL NOT SELL UNTIL I DIE" or "IF AMC GET TO 500 I WILL TATOO STONKS ON MY ASS. CATALOG THIS YOU **** BECAUSE I HAVE A TATOO PARLOR IN MIND ALREADY GME, AMC, **** THE HEDIGIES RETARD POOOOOWWEEEEERRRRRRR" And my personal favourite; "They’re playing against someone who says hit me when holding two face cards" Edited January 29, 2021 by lapal_fan 2 2 Link to comment Share on other sites More sharing options...
lapal_fan Posted January 29, 2021 Share Posted January 29, 2021 New winner; "I cant afford 5 shares but my wife's boyfriend gave me $400. See you on the battlefield" 2 Link to comment Share on other sites More sharing options...
Seat68 Posted January 29, 2021 Share Posted January 29, 2021 7 minutes ago, lapal_fan said: New winner; "I cant afford 5 shares but my wife's boyfriend gave me $400. See you on the battlefield" Link to comment Share on other sites More sharing options...
Popular Post sparrow1988 Posted January 29, 2021 Popular Post Share Posted January 29, 2021 11 hours ago, Mark Albrighton said: I really want to understand all of this but I think I need Margot Robbie in a bath tub to explain it to me. Here you go. 1 2 4 Link to comment Share on other sites More sharing options...
LondonLax Posted January 29, 2021 Share Posted January 29, 2021 21 minutes ago, lapal_fan said: Been on the reddit forums and I've been crying at the sheer amount of self-depreciation, such as; "Those hedge fund managers probably all studied game theory at Yale and are going through their entire playbook of what to do against rational actors. Too bad their ivy league degrees didn't teach them what to do when coming up against millions of retards and autists." "RETARD POWER I BOUGHT AMC BECAUSE ROBBINGHOOD **** ME. I BELIEVE IN ALL OF YOU. I WILL NOT SELL UNTIL I DIE" or "IF AMC GET TO 500 I WILL TATOO STONKS ON MY ASS. CATALOG THIS YOU **** BECAUSE I HAVE A TATOO PARLOR IN MIND ALREADY GME, AMC, **** THE HEDIGIES RETARD POOOOOWWEEEEERRRRRRR" And my personal favourite; "They’re playing against someone who says hit me when holding two face cards" It's also quite possible that their ringleader is a rival hedge fund engaging in a sophisticated 'pump and dump' scheme by harnessing these guys to boost the stock. So difficult to know who is playing who. 1 Link to comment Share on other sites More sharing options...
HanoiVillan Posted January 29, 2021 Share Posted January 29, 2021 Further to the 'settlement dynamics coming to the fore' point I was making last night, this is a useful thread: Makes the point that as trades don't settle until two days later, Robinhood has credit risk from the net of buys or sells. To mitigate the risk that a broker (such as Robinhood) fails, they need to place a deposit with NSCC (National Securities Clearing Corporation). The need to do so, and the formula for calculating that deposit, are requirements of the Dodd-Frank reforms. The formula is complicated, but essentially Robinhood's exposure to these few stocks was making it difficult for them to meet their required deposit (and they aren't legally allowed to use customer money to do so, either). Thread ends: 1 Link to comment Share on other sites More sharing options...
KenjiOgiwara Posted January 29, 2021 Author Share Posted January 29, 2021 (edited) I've been reading WSB for about 12-14 months. It's a complete casino, and not something I participate in, but it's a lot of fun to read. Remember reading about this bloke who put $ 700 k in GME calls over 12 months. He's been talking it up on there for a while month after month. Suddenly he's managed to get momentum on it, and he now posts daily updates on his position and it's worth $ 30 million haha. As for the RH and Citron/Melvin C. market manipulation that's going to get tasty. It's pretty obvious they've shit themselves. But I think this can keep going. Some hedge funds are so deep in shit here it's absolutely hilarious. Funniest stuff in a while. But I'm curious about the total effects on this. If 2-3 funds ends up getting bankrupted, their positions on housing, and other markets can cause pretty big volatility. Edited January 29, 2021 by KenjiOgiwara Link to comment Share on other sites More sharing options...
KenjiOgiwara Posted January 29, 2021 Author Share Posted January 29, 2021 This is right up Aaron Schwartz ally to be fair. He will be pissing himself in his grave right about now. Link to comment Share on other sites More sharing options...
KenjiOgiwara Posted January 29, 2021 Author Share Posted January 29, 2021 14 hours ago, TrentVilla said: Just read the hedge fund that held the original position has declared bankruptcy. Blimey I haven't seen that? Link? Link to comment Share on other sites More sharing options...
bannedfromHandV Posted January 29, 2021 Share Posted January 29, 2021 Something needs to shake up the capitalist culture, perhaps this is it Link to comment Share on other sites More sharing options...
KenjiOgiwara Posted January 29, 2021 Author Share Posted January 29, 2021 It's something quite cute about calling your investing bank/platform Robin Hood only to shut down retail investors to support a hedge fund that's shit the bed. Stealing from the poor to support the rich doesn't quite ring as well. 2 Link to comment Share on other sites More sharing options...
HanoiVillan Posted January 29, 2021 Share Posted January 29, 2021 1 hour ago, KenjiOgiwara said: It's something quite cute about calling your investing bank/platform Robin Hood only to shut down retail investors to support a hedge fund that's shit the bed. Stealing from the poor to support the rich doesn't quite ring as well. That doesn't seem to be an accurate version of what has happened. Link to comment Share on other sites More sharing options...
TrentVilla Posted January 29, 2021 Moderator Share Posted January 29, 2021 1 hour ago, KenjiOgiwara said: I haven't seen that? Link? Will try and find it and post Link to comment Share on other sites More sharing options...
KenjiOgiwara Posted January 29, 2021 Author Share Posted January 29, 2021 (edited) 2 hours ago, HanoiVillan said: That doesn't seem to be an accurate version of what has happened. Disagree. Citadel is heavily invested in Melvin Capital who are bleeding on their massive short. Citadel is also RobinHood's biggest or one of it's biggest customers. So when RH shut down the retail trades on these companies it's specifically done to benefit Citadel. The financial ties here are obvious and it's a situation where they try to take from the retail group to benefit the hedge fund. For what it's worth I don't think this is over by any stretch. I'm pretty sure the losses some institutions now are facing are too big to swallow, so they will pay the cover until they are margin called. I just can't see Reddit and WSB stopping this now, so some financial heads will roll for sure. Edited January 29, 2021 by KenjiOgiwara Link to comment Share on other sites More sharing options...
a m ole Posted January 29, 2021 Share Posted January 29, 2021 34 minutes ago, KenjiOgiwara said: Disagree. Citadel is heavily invested in Melvin Capital who are bleeding on their massive short. Citadel is also RobinHood's biggest or one of it's biggest customers. So when RH shut down the retail trades on these companies it's specifically done to benefit Citadel. The financial ties here are obvious and it's a situation where they try to take from the retail group to benefit the hedge fund. For what it's worth I don't think this is over by any stretch. I'm pretty sure the losses some institutions now are facing are too big to swallow, so they will pay the cover until they are margin called. I just can't see Reddit and WSB stopping this now, so some financial heads will roll for sure. lots of people on wsb complaining now about not being able to change or set their sell limits high, does seem to suggest it’s not all innocent. Link to comment Share on other sites More sharing options...
wazzap24 Posted January 29, 2021 Share Posted January 29, 2021 Markets open in a bit, see you on the other side Link to comment Share on other sites More sharing options...
wazzap24 Posted January 29, 2021 Share Posted January 29, 2021 I’m gonna piss myself if this comes off and Reddit was right. In the past 1/2 hour my ‘losses’ on some of the short stock they’ve been pumping have gone from $100 dollars, to $25 and prices are rising again Game, Blackberry, Nokia and Naked Foods all on the up, if I’d got in earlier I’d making an absolute killing Link to comment Share on other sites More sharing options...
KenjiOgiwara Posted January 29, 2021 Author Share Posted January 29, 2021 (edited) I owned Game Stop a while back, then sold it due to shorting. Had I held it would have been worth in excess of £ 4-5 million today. Oh well. To make it even better I owned bed bath and beyond (BBBY) for about £ 10 k around 8$ iiirc. Sold it around the same time as GME methinks. Was more trading than anything else. Guess which stock they also pumped due to shorts? BBBY. I would only have had a 400% or so profit, but still... oh well. But lets be fair, I would have sold them both way earlier at lower profits had I still owned them. The idea of letting your winners run is very hard on penny stocks. Edited January 29, 2021 by KenjiOgiwara 1 Link to comment Share on other sites More sharing options...
Genie Posted January 29, 2021 Share Posted January 29, 2021 6 minutes ago, KenjiOgiwara said: I owned Game Stop a while back, then sold it due to shorting. Had I held it would have been worth in excess of £ 4-5 million today. Oh well. That’s the kind of thing that would haunt me forever Link to comment Share on other sites More sharing options...
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