71–80 of 277 posts
Clearly written by someone who has never interacted with the community beyond reading the sidebar on reddit. Also explains why the rest of the article is mostly wrong.
Earlier quoted context omitted.
I highly suspect the reason for this is because there is less income security for the young generation in 2021 compared to 1999. In 1999, people under 40 were gambling large sums that, if lost, could be made back through x months of work. In 2021, people under 40 are gambling any random ad hoc payment they receive in the attempt of calling it a career. The reason? 10% of our country have great jobs, and the rest have…
The median bottom quintile of incomes is higher today in real terms than is was in the 1990s, and the median income is higher as well. https://www.census.gov/data/tables/time-series/demo/income-p...
I'm not here to argue a failed economic system in this thread, but the motivation behind wsb's nihilism is exceptionally clear.
https://www.pewresearch.org/fact-tank/2020/09/04/a-majority-... (A majority of young adults in the U.S. live with their parents for the first time since the Great Depression)
https://www.cnbc.com/2019/02/11/this-is-the-real-reason-most... (66% of bankruptcies are tied to medical issues)
https://www.theatlantic.com/ideas/archive/2020/02/great-affo... (The Great Affordability Crisis Breaking America)
Earlier quoted context omitted.
I highly suspect the reason for this is because there is less income security for the young generation in 2021 compared to 1999. In 1999, people under 40 were gambling large sums that, if lost, could be made back through x months of work. In 2021, people under 40 are gambling any random ad hoc payment they receive in the attempt of calling it a career. The reason? 10% of our country have great jobs, and the rest have…
The median bottom quintile of incomes is higher today in real terms than is was in the 1990s, and the median income is higher as well. https://www.census.gov/data/tables/time-series/demo/income-p...
You should compare workforce participation from 1999 and 2021, and you should compare savings rates by age bracket.
It just doesn't add up to me. If you take Gamestop (GME) today's hot item, it's trading 170M shares back and forth, at say, $70. That's $11B sloshing back and forth. You're telling me 10,000 (if even?) guys sitting at home doing retail trading have $1M each in positions driving this? 100,000 people with $100,000 each, during the day? I think it's quant and algorithmic trading. I would love to hear from an expert thou…
So the idea that WallStreetBets is a significant player in all this is nonsense and actually might be propaganda flak coming from the "responsible" people in the media, etc - journalists in the financial sector love rumors and such things and it is a nice cover story as "fog" to hide the fact Wall Street is so manipulated by the big players.
It just doesn't add up to me. If you take Gamestop (GME) today's hot item, it's trading 170M shares back and forth, at say, $70. That's $11B sloshing back and forth. You're telling me 10,000 (if even?) guys sitting at home doing retail trading have $1M each in positions driving this? 100,000 people with $100,000 each, during the day? I think it's quant and algorithmic trading. I would love to hear from an expert thou…
Options generate leverage. Potentially lots of leverage. https://www.bloomberg.com/opinion/articles/2021-01-25/the-ga...
It just doesn't add up to me. If you take Gamestop (GME) today's hot item, it's trading 170M shares back and forth, at say, $70. That's $11B sloshing back and forth. You're telling me 10,000 (if even?) guys sitting at home doing retail trading have $1M each in positions driving this? 100,000 people with $100,000 each, during the day? I think it's quant and algorithmic trading. I would love to hear from an expert thou…
turns out there were so many of them the market makers got the price in the money just by hedging via a chain reaction of sorts, called 'gamma squeeze'. see also https://www.swfinstitute.org/news/83341/what-is-a-gamma-sque...
you could say the market was broken for a couple hours this friday. funds not used to losing money (market makers like citadel) lost money. eyebrows were raised.
Imagine a subreddit called "roulettebets". Someone posts: 36x gain!!!1 And then someone posts: I lost everything. Should that be a motivation to spend all your money playing roulette?
Earlier quoted context omitted.
The median bottom quintile of incomes is higher today in real terms than is was in the 1990s, and the median income is higher as well. https://www.census.gov/data/tables/time-series/demo/income-p...
And yet, education, healthcare, and housing raced away from wages. I'm not here to argue a failed economic system in this thread, but the motivation behind wsb's nihilism is exceptionally clear. https://www.pewresearch.org/fact-tank/2020/09/04/a-majority-... (A majority of young adults in the U.S. live with their parents for the first time since the Great Depression) https://www.cnbc.com/2019/02/11/this-is-the-real-r…
I don't know anything about WSB, but how does: > It’s a bunch of autistic losers that live in their mom’s basement who are gambling what little money they have to try and become rich to live lifestyles of hedonism square with "These people were involved in very meaningfully moving a stock price around" ?
It's the same paradox as 4chan /b/ and /pol/ influencing real-world events despite similar stereotypes about the userbase. And /r/wsb is, after all, if 4chan found a Bloomberg Terminal.
The video and comments here sum up a lot of it:
https://www.reddit.com/r/wallstreetbets/comments/l1u036/wsb_...