201–210 of 277 posts
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Qanon disagrees. 4chan trolling nearly resulted in a coup, its reached a new level of seriousness.
>4chan trolling nearly resulted in a coup A few things: 1. It wasn't a coup, it was a protest to protest the unfair election and overall left wing bias. Same way BLM was to protest the unfairness of how black people are treated. 2. It was mostly organized on Facebook and the general "normie" web
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>Taking credit card advances to YOLO into short-dated OTM call options is drug-addict level desperation. It's actually somewhat rational. Say you just graduated college and make 30k as a waiter. You scrape together savings, loans, CCs, etc. and pull together 20k. Take that to Robinhood 2-3x it with margin and place a 50k bet that has a 8% chance to pay off 10x. If you "win" you're up 15 years of wages or more. If you…
I mean, it's still rational for professions too. If you make gamble and lose, then you just need to work a little longer to catch back up. But if you win, then you might never need to actually work again. Throwing $500-1000 a month into OTM options trading can generate life-changing amounts of money. That's like the lease payment on a 3 Series BMW. So it's pretty sustainable for working pros.
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Housing is a tough one; houses on average cost the same amount on an inflation adjusted basis per square foot as they did in the 1970s. However, houses are on average twice as big as they were back then, and contain far fewer occupants on average, too. In 1970 the average household was 3.14 people, today it's 2.5 people. [edit] There's a lot of reasons for the increase in the actual price of accommodation. They're la…
The inflation adjusted cost of buying a house today is actually cheaper per square foot than it was in 1980, and that's before you factor in the 14% mortgage rates of the era.
https://i.imgur.com/GUb3mEk.jpg
The reality is, most hedge funds don't actually know what they're doing - the vast majority can't even outperform simply buying & holding Apple stock or S&P index. Fund managers sell a narrative (the "idea" that they know what they're doing).
I only throw speculative amounts into absurd WSB-level plays, because I can afford to lose a few thousand here and there with zero consequence whatsoever. When it works in your favor, the wins far outweigh the losses. 80x returns in a day or two is absolutely insane (and rare), but I've been consistently making 6 digits of profits annually just from this kind of madness. In the spirit of WSB, YOLO
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>Language like WSB uses is meant to frustrate outsiders and limit posers. This is true, but WSB is also fundamentally nihilistic. 4Chan started as teenage boys from middle class families saying bad things for and fun trolling for fun. "haha lol normies take it seriously" Typical teenage nihilism that is normally not very harmful. Then it gradually escalated into really hurting people and crazy people joining. https:/…
I don't think you can make specific philosophical assertions about a very large group based off a hobby. Just like we can't say that all react developers are minimalists, we can't say all WSBer's are nihilists or anything else. I think you have some very fundamental misunderstandings about 4chan, including who it was composed of and what both their stated and achieved goals were. As a hint, remember that 4chan is a c…
The parent poster didn’t say that, though. They said that the group was nihilist. A community can have a shared attitude and outlook; that doesn’t mean that outlook is shared 100% by the members of that community.
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WSB is more about laughing at themselves rather than trying to amuse or offend someone. WSB doesn’t care much about so called “normies”, they have never attacked anyone outside of wsb and labels don’t spread outside of wsb either. WSB never had nihilistic worldview, there’s plenty of people supporting each other, there’s regular donations to charities, and etc. WSB is just a tongue-in-cheek ridicule of the finance wo…
They’re engaging in blatant market manipulation. I’d say that harms people outside their group.
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WSB is more about laughing at themselves rather than trying to amuse or offend someone. WSB doesn’t care much about so called “normies”, they have never attacked anyone outside of wsb and labels don’t spread outside of wsb either. WSB never had nihilistic worldview, there’s plenty of people supporting each other, there’s regular donations to charities, and etc. WSB is just a tongue-in-cheek ridicule of the finance wo…
They’re engaging in blatant market manipulation. I’d say that harms people outside their group.
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They’re engaging in blatant market manipulation. I’d say that harms people outside their group.
How is it any different from Kramer / CNBC / The Motley Fool recommending stocks to buy and giving price targets?
2008 produced a lot of resentment of the heads-I-win, tails-you-lose financial arrangement (in terms of financial services companies) of the Western world, but there wasn't any attainable way of actually taking action based on that belief.
Now, there is. WSB gets to have its lulz, specifically at the expense of those they feel wronged them (banks, traders, etc).
As the saying went in Eve Online from Goonswarm, it doesn't matter if you lose 1,000 ships, if everyone wants to hang out with you instead of the other team. Cultural victory.
I imagine the first HFT firms felt very similarly.
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The inflation adjusted cost of buying a house today is actually cheaper per square foot than it was in 1980, and that's before you factor in the 14% mortgage rates of the era.
The 14% mortgage rates came in part from the law of small (big) numbers. 14% of $35,000 is not that much money compared to 3% of 700,000
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…
a bunch of dudes bought a bunch of contracts $50 or $500 or whatever cheap price a piece for 100 shares so far out of the money they'd be worth $6000 if price got there. market makers bought anywhere between 1 and 10 shares to hedge the risk of the price getting there. 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…
Are banks/brokers selling you the call because they think they will make money from it? Or are they doing it because they are acting as a market maker role and just wanting to have liquidity in the market?
Edit: read some other comments here and I think I understand now.
