Author Topic: Modern Day David V Goliath (Redditors v Hedgefunders)  (Read 19876 times)

Offline leroy

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #160 on: January 29, 2021, 10:05:23 am »
Its not that though is it. It is coordinated mass buying to push up the price of the security up and trigger margin calls for the short sellers and induce a short squeeze. That is the ultimate premise of the strategy.

Buy and hold is buying and holding the security for a long time with little regard for market fluctuations. This is about as far from buy and hold as it gets. How many GME investors will still be holding it in a month?

There is no inside knowledge.  There is nothing fraudulent and there is no manipulation.  There is just market analysis and purchase.  This is what is supposed to happen.  One bunch bets that this stock will fall.  They get greedy and overextend very badly.  People realise that and form a strategy to make money from that and share that knowledge freely and openly.  Literally all they are doing is not selling - which is what I mean by holding.

If this is against regulations then you might as well shut down the entire fucking stock market.

Offline Indomitable_Carp

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #161 on: January 29, 2021, 10:33:47 am »
If this is against regulations then you might as well shut down the entire fucking stock market.

I always thought the stock market was a load of mad bullshit, devoid of any proper connection to the real world despite its major impact on it, but this whole episode has just confirmed it.

Still wish I knew a thing or two about it so I could cash in on this.

And so the ball keeps rolling.

Offline leroy

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #162 on: January 29, 2021, 10:34:56 am »
I always thought the stock market was a load of mad bullshit, devoid of any proper connection to the real world despite its major impact on it, but this whole episode has just confirmed it.

Still wish I knew a thing or two about it so I could cash in on this.

And so the ball keeps rolling.

Mate 95% of it is just gambling except most of the time they're allowed the make up the rules and regulate themselves. 

Offline Babel Time

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #163 on: January 29, 2021, 10:38:23 am »
Commonly known as "shorting" I assume ?

Planted articles, algoritm and robots...

Shorting is not market manipulation.

There seems to be some quite a few misconceptions about shorting. First of all every transactions has a long and a short side. When I buy Apple stock I am long Apple and short GBP, how if I have used any margin of margin on this transaction (i.e. borrowing), I have borrowed GBP to to sell it for Apple stock. Which, conceptually, is no different the borrowing Apple stock to sell for GBP.

Sure shorting can be used for market manipulation, but so can going long.

Shorting is use for many purposes, reducing market exposure, delta-hedging, expressing a bearish view, etc . There are also other tools that allow for similar payoff structures such as put options or futures (short side).

GME has had high Short interest for most part of 2020, yet its price has been rising since July. If there was market manipulation there from hedge funds, then it was a very poor attempt. The point of shorting this stock is to benefit from a fall in price, not to push the price down yourself, since then you don't accrue the benefit of that reduction. Hedge funds primarily shorted this because they expected this company to be the next blockbuster. Shorting doesn't cause a company to go bankrupt, poor management does.

Shorting plays a vital part in reduction of asset bubbles (obviously does not prevent all), and bubbles are far more common in assets that are difficult or costly to short.
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Offline Studgotelli

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #164 on: January 29, 2021, 10:45:52 am »
Gamestock back up to $395 in pre-market they’ve managed to save their asses somewhat but that is real market manipulation. Could go strato today.

Offline Babel Time

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #165 on: January 29, 2021, 11:47:34 am »
There is no inside knowledge.  There is nothing fraudulent and there is no manipulation.  There is just market analysis and purchase.  This is what is supposed to happen.  One bunch bets that this stock will fall.  They get greedy and overextend very badly.  People realise that and form a strategy to make money from that and share that knowledge freely and openly.  Literally all they are doing is not selling - which is what I mean by holding.

If this is against regulations then you might as well shut down the entire fucking stock market.

Here is the current UK and EU regulations defeinition of market maninpulation / market abuse:

https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=LEGISSUM:240404_2#keyterm_E0001

Market manipulation: entering into a transaction or behaviour that:
 - gives or is likely to give false or misleading signals as to the supply/demand of a financial instrument;
 - secures or is likely to secure the price of a financial instrument at an abnormal level.

The "Hey let's get together and buy up all the free float of GME to push up the price and induce a short squeeze" strategy.

Is textbook market manipulation.

Just to be clear, not accusing those of bandwagoning on this to try and make a quick buck or to stick it to the man of market manipulation. However the original instigators of this clearly are guilty of that.
Fund managers would at the very least lose their jobs if they got caught doing this, in all likelihood they would face large fines and possibly jail.

In fact you can lose your job for a lot less in finance these days:
https://www.ft.com/content/818b960b-60e0-44a9-9ea4-72bab605c2d0
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Offline Jiminy Cricket

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #166 on: January 29, 2021, 11:48:56 am »
Citadel could be in massive massive trouble and there is apparently direct involvement with Janet Yellen. If this goes all the way to the top of Biden's administration the fallout could be mental.
Do you have source for this, or is it purely speculation?
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Offline Jiminy Cricket

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Offline Believe

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #168 on: January 29, 2021, 11:55:13 am »
Do you have source for this, or is it purely speculation?

She's been paid speakers fees in the past and an angry mob now think she's rigging something, despite the Citadel/Robinhood stuff being within the remit of the SEC, having nothing to do with the treasury whatsoever.
« Last Edit: January 29, 2021, 11:56:49 am by Believe »

Offline Jiminy Cricket

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #169 on: January 29, 2021, 12:07:56 pm »
She's been paid speakers fees in the past and an angry mob now think she's rigging something, despite the Citadel/Robinhood stuff being within the remit of the SEC, having nothing to do with the treasury whatsoever.
About what I guessed. Thank you, Believe.
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Offline Red-Soldier

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #170 on: January 29, 2021, 12:21:21 pm »
Facebook towing the party line:

Facebook shuts popular Robinhood Stock Traders group amid GameStop frenzy

Facebook says group, which has 157,000 members, was taken down for allegedly violating policies unrelated to stock price surges


Quote
Facebook has taken down the popular Wall Street discussion group, Robinhood Stock Traders, in a move that its founder described as backlash for conversations buoying shares of GameStop Corp and other companies this week.

GameStop, AMC Entertainment Holdings Inc and BlackBerry have been at the centre of a market battle as individual investors coordinating on social media including Reddit, and using trading apps such as Robinhood, bought shares and squeezed hedge funds that had bet that those struggling companies would tank.

Allen Tran, a 23-year-old from Chicago who created Robinhood Stock Traders, said he woke up on Wednesday to a notification that Facebook had disabled the 157,000-member group. The notification, seen by Reuters, said without detail that the group violated policies on “adult sexual exploitation”.

“We were first on the picking tree to be cut off because we are on Facebook, not a free platform like Reddit,” said Tran, referring to the typically lighter moderation on the discussion website.

Some of his group’s members made tens of thousands of dollars in recent trades first popularised on Reddit’s WallStreetBets forum, he said.

Tran, who also runs the 20,000-member HaiKhuu Trading group on chat app Discord, said he has never seen adult content on the Facebook group.

Facebook spokeswoman Kristen Morea said, “This group was removed for violating our Community Standards, unrelated to the ongoing stock frenzy.” She did not respond to requests to elaborate.

Tran said institutional investors are trying to separate retail traders.

Facebook suspended his group on 7 January after labelling it a “dangerous organization,” according to correspondence seen by Reuters, though the company reinstated its privileges after he appealed to contacts there.

“With all these major institutions being frustrated with the success of retail, they are trying to target any groups they can,” said Tran, who was featured in a Wall Street Journal article in November and described his Facebook group as the largest of its kind.

Tran expressed concern that a replacement group he formed to carry on discussions also will be taken down.


https://www.theguardian.com/technology/2021/jan/29/facebook-shuts-popular-robinhood-stock-traders-group-amid-gamestop-frenzy


The whole system is rigged.
« Last Edit: January 29, 2021, 12:25:39 pm by Red-Soldier »

Offline Red Beret

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #171 on: January 29, 2021, 12:56:18 pm »
Facebook towing the party line:

Facebook shuts popular Robinhood Stock Traders group amid GameStop frenzy

Facebook says group, which has 157,000 members, was taken down for allegedly violating policies unrelated to stock price surges



https://www.theguardian.com/technology/2021/jan/29/facebook-shuts-popular-robinhood-stock-traders-group-amid-gamestop-frenzy


The whole system is rigged.

Took them four years and a riot before they banned Trump though. ::)
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Offline Red-Soldier

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #172 on: January 29, 2021, 12:58:51 pm »
Took them four years and a riot before they banned Trump though. ::)

Yep!

Just shows where their morals are.

Another part of modern society that needs taking down.

Offline Babel Time

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #173 on: January 29, 2021, 01:05:10 pm »
Facebook towing the party line:

Facebook shuts popular Robinhood Stock Traders group amid GameStop frenzy

Facebook says group, which has 157,000 members, was taken down for allegedly violating policies unrelated to stock price surges



https://www.theguardian.com/technology/2021/jan/29/facebook-shuts-popular-robinhood-stock-traders-group-amid-gamestop-frenzy


The whole system is rigged.

And George Soros and Bill Gates.

Just buy and index fund, one that tracks a broad globally diversified benchmark (e.g. MSCI ACWI), and you'll beat your average hedge fund performance wise.

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Offline Max_powers

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #174 on: January 29, 2021, 01:07:56 pm »


Also, let's not make out r/wallstreetbets as some sort of activists that want to clean up the financial system and get rid of things like shorting. It's a glorified casino. There is more options trading including shorting going on at r/wallstreetbets on any given day than at most hedge funds would be my guess.

Yes shorting a stock to such an extent should not be allowed and be regulated by SEC. I can see some rule changes coming because of this fiasco. Probably the same for how they prosecute market manipulation as well.

Offline Red Beret

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #175 on: January 29, 2021, 01:21:25 pm »
Yep!

Just shows where their morals are.

Another part of modern society that needs taking down.

yep.  Ordinary people with a bit of specialist knowledge discovered a loophole that allowed them to attack the corporates.  And, predictably, the corporates collectively shit a brick when they realised they were vulnerable.
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Offline leroy

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #176 on: January 29, 2021, 01:26:41 pm »
Here is the current UK and EU regulations defeinition of market maninpulation / market abuse:

https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=LEGISSUM:240404_2#keyterm_E0001

Market manipulation: entering into a transaction or behaviour that:
 - gives or is likely to give false or misleading signals as to the supply/demand of a financial instrument;
 - secures or is likely to secure the price of a financial instrument at an abnormal level.

The "Hey let's get together and buy up all the free float of GME to push up the price and induce a short squeeze" strategy.

Is textbook market manipulation.

Just to be clear, not accusing those of bandwagoning on this to try and make a quick buck or to stick it to the man of market manipulation. However the original instigators of this clearly are guilty of that.
Fund managers would at the very least lose their jobs if they got caught doing this, in all likelihood they would face large fines and possibly jail.

In fact you can lose your job for a lot less in finance these days:
https://www.ft.com/content/818b960b-60e0-44a9-9ea4-72bab605c2d0


That is a ludicrously broad definition given it could easily be interpreted to cover things that are done every day and considered fundamental (share buy backs, shorting etc).  Share buy backs are fundamentally used to artificially increase stock value - usually to enrich those initiating the process. Now THAT is market manipulation. 

Weird that you make the distinction later between the bandwagoners, avengers, & early buyers.  Because by that definition they would all be in the same boat regardless of their motivation or timing.

I do like that you caveat the comment about fund managers though... "if they get caught".

The people who have entered into a transaction that is likely to cause a price at an "abnormal level" is the hedge fund's that shorted at 150%.

Offline Babel Time

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #177 on: January 29, 2021, 01:29:33 pm »
yep.  Ordinary people with a bit of specialist knowledge discovered a loophole that allowed them to attack the corporates.  And, predictably, the corporates collectively shit a brick when they realised they were vulnerable.

Except its not an unknown loophole. The effect of short squeezes is well known and documented. Its just that institutional investors do not engage in this tactic, that is purposefully pushing up a stock price to trigger a short squeeze, as that would have them in trouble with the regulator.
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Offline Max_powers

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #178 on: January 29, 2021, 01:32:06 pm »


It's unlikely any Redditor will be prosecuted for it I think, just because of the scale.

Offline Red Beret

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #179 on: January 29, 2021, 01:50:57 pm »
Except its not an unknown loophole. The effect of short squeezes is well known and documented. Its just that institutional investors do not engage in this tactic, that is purposefully pushing up a stock price to trigger a short squeeze, as that would have them in trouble with the regulator.

I never said it was an unknown loophole. But clearly nobody had ever dreamed it could be exploited in such a manner.

In any case, my cynical nature tells me that those who enjoy the trappings of power and wealth make their own rules, and frequently rewrite them for their own benefit.  Equally, they will make rules in a manner where loopholes allow said rules to be exploited, if one has the means and the will.

I have precious little sympathy for them.
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Offline kavah

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #180 on: January 29, 2021, 01:54:29 pm »
^ exactly RB. As Alexander Boris de Pfeffel Johnson’s father said “we don’t break the rules we make the rules”

Offline JerseyKloppite

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #181 on: January 29, 2021, 02:29:38 pm »
yep.  Ordinary people with a bit of specialist knowledge discovered a loophole that allowed them to attack the corporates.  And, predictably, the corporates collectively shit a brick when they realised they were vulnerable.

I don’t express strong options either way but I’d be interested to know how many people are doing this to “attack the corporates” and how many just want to make some quick money. There’s plainly something of an ideological difference, even if the result is the same.

The whole episode is fascinating though.

Offline leroy

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #182 on: January 29, 2021, 02:31:53 pm »
If I had any free cash at the moment I'd throw some at it just to try and fuck them over.  Money spent.

https://twitter.com/bubbaprog/status/1354850858115211264

Fuck em.

Offline ChaChaMooMoo

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #183 on: January 29, 2021, 02:45:24 pm »
There is no inside knowledge.  There is nothing fraudulent and there is no manipulation.  There is just market analysis and purchase.  This is what is supposed to happen.  One bunch bets that this stock will fall.  They get greedy and overextend very badly.  People realise that and form a strategy to make money from that and share that knowledge freely and openly.  Literally all they are doing is not selling - which is what I mean by holding.

If this is against regulations then you might as well shut down the entire fucking stock market.

I agree. Its just because wall street got a giant dong up their butts, suddenly people are crying market manipulation and fraud and whatnot.
The only people that are crying are those in wall street themselves. No one else is.
They deserved every bit of misery that happened to them in the last 3 or 4 days.

Offline Sharado

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #184 on: January 29, 2021, 02:55:27 pm »
I don’t express strong options either way but I’d be interested to know how many people are doing this to “attack the corporates” and how many just want to make some quick money. There’s plainly something of an ideological difference, even if the result is the same.

The whole episode is fascinating though.

Either way the hedge fund creeps having a bad day is a good day for me.
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Offline Johnny Foreigner

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #185 on: January 29, 2021, 03:01:38 pm »
I don’t express strong options either way but I’d be interested to know how many people are doing this to “attack the corporates” and how many just want to make some quick money. There’s plainly something of an ideological difference, even if the result is the same.

The whole episode is fascinating though.

I think it's a bit of both. There are obviously people that is having really big money at stake here now, but based on forums it also seems to be large amount of people with pretty modest amounts that is playing it for fun..

My son and myself bought for a couple of hundred pounds; more than doubled now and we could have got out with a pretty healthy profit which we normally would have done; but we decided to stay in.. Never seen anything like this before and we thought we will be in it for the ride; worst case more or less nothing left next week..

Main reason is being tired of the manipulating/inside trading/boys club that constantly screws the average guy over and over again..

I have no illusion that this will change the world, but a couple of days of sweating for the wolves are worth it..
« Last Edit: January 29, 2021, 03:04:01 pm by Johnny Foreigner »
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Offline OOS

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #186 on: January 29, 2021, 03:05:46 pm »
Either way the hedge fund creeps having a bad day is a good day for me.

Many more hedge funds and institutions have probably made a decent profit in this. Its business as usual. Been fun to watch as an outsider however.
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Offline leroy

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #187 on: January 29, 2021, 03:06:59 pm »
The funniest thing about this whole episode is watching morons invoke Musks name while screaming fuck the rich with no sense of irony at all.

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #188 on: January 29, 2021, 03:22:11 pm »
The funniest thing about this whole episode is watching morons invoke Musks name while screaming fuck the rich with no sense of irony at all.

I'm glad someone else has had the same thought as I had.

Its all about gambling with money, or in the case of some - other people's money.
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Offline Garrus

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #189 on: January 29, 2021, 03:25:17 pm »

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #190 on: January 29, 2021, 04:25:26 pm »
Shorting is not market manipulation.

There seems to be some quite a few misconceptions about shorting. First of all every transactions has a long and a short side. When I buy Apple stock I am long Apple and short GBP, how if I have used any margin of margin on this transaction (i.e. borrowing), I have borrowed GBP to to sell it for Apple stock. Which, conceptually, is no different the borrowing Apple stock to sell for GBP.

Sure shorting can be used for market manipulation, but so can going long.

Shorting is use for many purposes, reducing market exposure, delta-hedging, expressing a bearish view, etc . There are also other tools that allow for similar payoff structures such as put options or futures (short side).

GME has had high Short interest for most part of 2020, yet its price has been rising since July. If there was market manipulation there from hedge funds, then it was a very poor attempt. The point of shorting this stock is to benefit from a fall in price, not to push the price down yourself, since then you don't accrue the benefit of that reduction. Hedge funds primarily shorted this because they expected this company to be the next blockbuster. Shorting doesn't cause a company to go bankrupt, poor management does.

Shorting plays a vital part in reduction of asset bubbles (obviously does not prevent all), and bubbles are far more common in assets that are difficult or costly to short.

Thanks for clearing that up

Offline Red Beret

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #191 on: January 29, 2021, 04:29:07 pm »
I don’t express strong options either way but I’d be interested to know how many people are doing this to “attack the corporates” and how many just want to make some quick money. There’s plainly something of an ideological difference, even if the result is the same.

The whole episode is fascinating though.

As leroy says, I'd happily help take them down and make a tidy side profit into the bargain.  I'd say most are drawn by the prospect of making the money and taking down the hedgefund is a bonus. ;D

That said, doesn't JWH run a hedgefund?  We ought to be careful. ;)
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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #192 on: January 29, 2021, 04:30:11 pm »
I never said it was an unknown loophole. But clearly nobody had ever dreamed it could be exploited in such a manner.

In any case, my cynical nature tells me that those who enjoy the trappings of power and wealth make their own rules, and frequently rewrite them for their own benefit.  Equally, they will make rules in a manner where loopholes allow said rules to be exploited, if one has the means and the will.

I have precious little sympathy for them.

You said discovered, that somewhat implies that it was previously unknown. It's not like there aren't many finance professionals and ex-professionals on r/wsb. Wall Street bros have personal accounts too (some more restricted than others, but they do have them)

Nothing wrong with being overly cynical. I'm very much of the same ilk

I'm not making my points out of sympathy for hedge funds. Far from it, the founder of Melvin Capital for example certainly isn't someone worthy of sympathy, he was implicated in an insider trading scandal whilst at SAC. (A fund that got shut down due to insider trading). You'll probably struggle to find more people more worthy of "getting one on the nose".

However, you may well find quite a few hedge funds out there that are not too unhappy with these developments, as big losses for their competitors is good for them. (the number of hedge funds that were/are short GME is far smaller than those which weren't).

The majority of hedge fund assets comes from pension funds, insurance companies, sovereign wealth funds and endowments (charities, universities, etc), so if a hedge fund loses money, those are the entities that ultimately bare the losses.

At the end of the day, you will also see many retail investors lose money on this. People who got in at $400 and may end up selling out at $100 or worse.
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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #193 on: January 29, 2021, 04:50:27 pm »
For what it's worth,  all of Babel Time's posts on here have been spot on,  probably backed by work in the field.  Some on here might actually learn a thing or two,  which is a step up from the last finance thread which was basically buy bitcoin.

It's always an issue of precision,  not good or bad.  As has been mentioned by others earlier,  take a look at the  GME institutional holdings page on Nasdaq.  You're sticking it to the 'corporates'  by making them richer.  It's nonsense.

You pay attention to this thread,  the same mix of imprecision,  greed,  money lust from some versus balance,  precision from others will be evident wherever there exists a collection of people.  The enemy you want doesn't exist,  in fact,  some of you on here show the same imprecision and greed you rail against. 

Make money,  it was an opportunity,  good for you,  cut the crap about the rest.

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #194 on: January 29, 2021, 05:00:05 pm »
I bought some dogecoin earlier and it went up a lot. Again, no idea what it is.
« Last Edit: January 29, 2021, 05:04:32 pm by a treeless whopper »

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #195 on: January 29, 2021, 05:02:53 pm »
Thanks Surfer.

Well this is addressed to you or Babel Time. I want to open a basic trading account to put a few quid into an ISA but just to buy shares sensibly (so not penny stocks or any of the current stuff going on). Which platform/account would you recommend. Free would be preferable but any suggestions welcome from people who have a clue about these things.
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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #196 on: January 29, 2021, 05:08:55 pm »
However the original instigators of this clearly are guilty of that.
Fund managers would at the very least lose their jobs if they got caught doing this, in all likelihood they would face large fines and possibly jail.

Why are you talking like there was some shadow group that planned this form the start and used reddit as some sort of astroturfing campaign to cause this? It's just disingenuous. I've been following this for months.

It literally started here. https://www.reddit.com/r/wallstreetbets/comments/d31bke/gme_yolo_update_following_the_q2_earnings_report/

A guy was investing in GME because he truly believed it was an undervalued stock that was due to rise. He was widely ridiculed for it for months and he kept true. Literally just lock at his posts history, people calling him retarded and telling him he'll lose everything for months on months. Overtime people saw what he was saying was coming to fruition, that along with the ridiculous short position these companions continued to call (they were only at like 70% short when he was investing) naturally snowballed and grew from there.

It's exploded recently and sure, people are pushing people to buy/hold for the squeeze, but again, it wasn't some sort of concerted effort by a "few instigators" to manipulate the market for their favour. It can be literally be tracked to be a organic play and growth until it really became a meme and took off.

In-fact, talking about manipulation, wanna know the real kicker? The event that truly kicked this off as a meme and started this effort to short squeeze was caused by the damn billionaire shorters themselves. Andrew Left, founder of Citron - a billion dollar investment group that had been publicly shorting and shitting on GameStop in the media - started a livestream to explain why "investing in GME would be a terrible idea and how the stuck is set to plunge to $20 in the coming days" - this is after months of media attacks on them. Just look at this tweet. https://twitter.com/CitronResearch/status/1351544479547760642. The day after that stream GME stock saw it's biggest rise yet, 50% in one night.

They're own attempt at manipulation of the market through shorting stock and shitting on companies in the media to reduce shareholders faith in that company backfired hard on them and was a big part in why this has taken off. Poetic, I say.
« Last Edit: January 29, 2021, 05:11:04 pm by josh101 »

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #197 on: January 29, 2021, 05:23:21 pm »

They're own attempt at manipulation of the market through shorting stock and shitting on companies in the media to reduce shareholders faith in that company backfired hard on them and was a big part in why this has taken off. Poetic, I say.


These people/corporations are actually doing the opposite of what the stock/capital markets were started for. Trying to bring companies down; badmouthing - using their buddies in the financial press to create stories..

Not market manipulation - give me a break...

For once, its a relatively open playing field and they are shitting it.. Understandable - when you're used to making billions and all the top guys are winning most of the time


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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #198 on: January 29, 2021, 05:32:51 pm »
I bought some dogecoin earlier and it went up a lot. Again, no idea what it is.

Bigger play is that Bitcoin is going up again. Was reading Doge is linked to Bitcoin somehow. Elon Musk and all those other tech CEOs are just distracting from their bigger play really.

Side note the American market seems much more exciting than ours. Been monitoring some companies for a whole year now but it’s fucking monotonous compared to across the pond!
« Last Edit: January 29, 2021, 05:34:34 pm by Studgotelli »

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Re: Modern Day David V Goliath (Redditors v Hedgefunders)
« Reply #199 on: January 29, 2021, 05:37:49 pm »
These people/corporations are actually doing the opposite of what the stock/capital markets were started for. Trying to bring companies down; badmouthing - using their buddies in the financial press to create stories..

Not market manipulation - give me a break...

For once, its a relatively open playing field and they are shitting it.. Understandable - when you're used to making billions and all the top guys are winning most of the time
Exactly. I understand the need for shorting, but I'll never get behind it ethically.

You should never have a vested - especially financial - interest in having a company fail, especially when you are in a position of power over it.