Author Topic: Stonks, Crypto, NFTs etc  (Read 9436 times)

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SixFeetDeep

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« Last Edit: March 18, 2022, 05:33:06 PM by Johnny English »
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Badger

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Re: Stonks
« Reply #1 on: January 26, 2021, 01:57:16 PM »
Anything that ruins hedge funds is good.

Johnny English

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Re: Stonks
« Reply #2 on: January 26, 2021, 02:11:15 PM »
Anything that ruins hedge funds is good.


It doesn't ruin hedge funds though. This is like you walking past Mike Tyson and suddenly punching him in the nose. You might land it and you might even cause him momentary pain, but then he will absolutely ruin you.

Also, the webdorks on /r/wallstreetbets are no better than hedge funds, they're just playing on the $5 minimum stakes tables rather than going through the velvet rope to play at the high rollers' table. They're still playing the same cunty game for the same selfish reasons.
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Badger

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Re: Stonks
« Reply #3 on: January 26, 2021, 02:12:28 PM »
It doesn't ruin hedge funds though. This is like you walking past Mike Tyson and suddenly punching him in the nose. You might land it and you might even cause him momentary pain, but then he will absolutely ruin you.

Also, the webdorks on /r/wallstreetbets are no better than hedge funds, they're just playing on the $5 minimum stakes tables rather than going through the velvet rope to play at the high rollers' table. They're still playing the same cunty game for the same selfish reasons.
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mj2sexay

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Re: Stonks
« Reply #4 on: January 27, 2021, 10:17:39 AM »
So has anyone been paying attention to a bunch of redditers basically getting together to severely freak up a hedge fund trying to short Gamestop?


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Re: Stonks
« Reply #5 on: January 27, 2021, 10:21:41 AM »
So has anyone been paying attention to a bunch of redditers basically getting together to severely freak up a hedge fund trying to short Gamestop?

They've moved on from Gamestop.  They are now focused on AMC and possibly Blackberry. 
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Johnny English

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Re: Stonks
« Reply #6 on: January 27, 2021, 10:27:22 AM »
So has anyone been paying attention to a bunch of redditers basically getting together to severely freak up a hedge fund trying to short Gamestop?



Was briefly discussed in the Breaking News thread yesterday. When the guys on Reddit claiming to be making millions from this give it to the actual little guys who are losing their jobs at this business that they're kicking around like a corporate football, I'll get interested in cheerleading for them.
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dcm1602

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Re: Stonks
« Reply #7 on: January 27, 2021, 10:44:59 AM »
Was briefly discussed in the Breaking News thread yesterday. When the guys on Reddit claiming to be making millions from this give it to the actual little guys who are losing their jobs at this business that they're kicking around like a corporate football, I'll get interested in cheerleading for them.

Unless I'm mistaken

Weren't the guys on reddit making money by freaking over some speculators that were trying to get rich by shorting gamestop?

I'm not suggesting the guys on reddit are heroes by any means.

More concerning however is if this leads to future increasing of people manipulating the stock market

(I have no allusions there's plenty of corruption in it already, this would just be potentially another more disruptive layer if it becomes increasingly common place)

Badger

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Re: Stonks
« Reply #8 on: January 27, 2021, 10:46:36 AM »


Was briefly discussed in the Breaking News thread yesterday. When the guys on Reddit claiming to be making millions from this give it to the actual little guys who are losing their jobs at this business that they're kicking around like a corporate football, I'll get interested in cheerleading for them.

I'm sorry which business are you referring to exactly?

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Re: Stonks
« Reply #9 on: January 27, 2021, 10:47:29 AM »

I'm sorry which business are you referring to exactly?

I mean if he's referring to Gamestop or brick and mortar retailers in general, they got absolutely freaking crushed this year with mega chain exceptions.

Badger

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Re: Stonks
« Reply #10 on: January 27, 2021, 10:49:38 AM »
I mean if he's referring to Gamestop or brick and mortar retailers in general, they got absolutely freaking crushed this year with mega chain exceptions.
Yeah Gamestop got crushed by the current conditions of the world, I think he's referring to the firms that lost money trying to short Gamestop. Which I have no sympathy for, not any more than I would for a gambler.

Johnny English

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Re: Stonks
« Reply #11 on: January 27, 2021, 10:54:40 AM »

I'm sorry which business are you referring to exactly?

Gamestop. We already discussed this yesterday - I don't really care whether it's hedge funds or reddit speculators making money from freaking around with the shares, they're just different pigs wrestling in the same excrement pile.
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Badger

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Re: Stonks
« Reply #12 on: January 27, 2021, 11:12:31 AM »
Gamestop. We already discussed this yesterday - I don't really care whether it's hedge funds or reddit speculators making money from freaking around with the shares, they're just different pigs wrestling in the same excrement pile.
They're hardly equally detestable though.

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Re: Stonks
« Reply #13 on: January 27, 2021, 11:15:11 AM »
Taking pleasure in hedge fund disasters isn't a defense or endorsement of WSB, it's possible to discuss the story without squeezing in a condemnation in every post.

Johnny English

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Re: Stonks
« Reply #14 on: January 27, 2021, 11:18:43 AM »
They're hardly equally detestable though.

Both provide exactly the same amount of societal value. They aren't exactly Robin Hood, they just used Reddit to get organized so that their combined financial weight was significant enough to impact their competitors. Explain to me how a few thousand fairly well off guys using a web forum to distort financial markets for personal gain is different to a few thousand guys using Bloomberg terminals to do the same thing.
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