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The Battle of GameStop

paranoidenough.com

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Re: The Battle of GameStop

#81

Post by jlos »

zappo2938 wrote: post #40

The jury is still deliberating whether WSB is an effective cartel or not. At the end of the day, the members total investment is so small that it doubtfully makes any difference. It is probably more analogous to Ed Thorp's Beat the Dealer. He devised an algorithm to count cards. Ran a simulation on a computer at MIT, got bankrolled, and went to Reno to test it in person. Why didn't he continue counting cards in Nevad…

>> You never hear about people losing money in Vegas, only about that one time someone won big. It's the same with WSB, sort of.

I'm not sure about that. This guy[0] lost his life savings investing in ornamental gourd futures. Its actually a pretty comical account simply to me because it seems so absurd.

[0]https://www.reddit.com/r/wallstreetbets/comments/kzoh1c/i_am...

Re: The Battle of GameStop

#82

Post by edgyquant »

engineer_22 wrote: post #21
dvt wrote: post #6

> The same emotion that caused us to root for the thieves in Ocean’s 11 is what makes Wall Street Bets so enticing. Put frankly, Millennials are tired of getting fucked by the man. When you’re underemployed with $100,000 in student loan debt, your financial situation feels overwhelming. You really don’t want to take the advice of your parents or CNBC talking heads [5] to invest 10% of your salary for a 4% annual retu…

The first rule of Fight Club...

Except everyone knows about that sub and it does little but get the hopes of the working poor up, who then lose what little savings they have on some yolo being pushed by a more well off individual whose just having fun.

Re: The Battle of GameStop

#84

Post by bitcoinmoney »

shouldiquitamzn wrote: post #74
in3d wrote: post #71

Earlier quoted context omitted.

You’re a lottery winner, congrats. People made money during the tulip mania also. You’ve given money to the Wall Street, not taken it away. The biggest winners are companies like Robin Hood and hedge funds who buy their order flow data and hedge funds that take advantage of the bubble to play this, while the losers will be small investors who were late to the game and believed the bullshit about how it’s anything mor…

No I made this money myself. In any time in basically the last decade, if you leveraged up on the SPY or QQQ, you are now retired. People are too risk averse, they will be stuck in a job forever

How do we replicate your success?

Re: The Battle of GameStop

#85

Post by totalZero »

leowoo91 wrote: post #67
shouldiquitamzn wrote: post #17

I’ve made millions on WSB options plays. I can finally quit my job and stop being a cubicle slave. The visceral reaction from the media on this is disgusting. Major hedge funds got caught on the wrong side of this, and have been making a huge stink about it. CNBC to the rescue, demonizing young middle class Reddit investors. This whole thing has opened my eyes to how even my FAANG compensation is peasant money, it’s…

You might got lucky or not, but your comment is very dangerous for the people who have no idea and haven't been in the field. FAANG compensation is not peasant to billions of people, so please don't do that.

I'd be interested in understanding how someone sharing their experience and opinion is dangerous.

Re: The Battle of GameStop

#86

Post by edgyquant »

shouldiquitamzn wrote: post #75
leowoo91 wrote: post #67

Earlier quoted context omitted.

You might got lucky or not, but your comment is very dangerous for the people who have no idea and haven't been in the field. FAANG compensation is not peasant to billions of people, so please don't do that.

I made the money myself, I didn’t get lucky. Edit: The money was made over a 100 trades

Yes you did get lucky on an option play

Re: The Battle of GameStop

#87

Post by throwaway894345 »

willis936 wrote: post #42
rokobobo wrote: post #27

Earlier quoted context omitted.

Except, if a whole generation YOLOs hard enough, maybe the government will actually choose to bail them out for once.

A whole generation is not YOLOing. We’re just trying to keep a roof over our heads.

The argument is that we’re working to keep a roof over our heads now because we YOLOed through college. And while that doesn’t describe me, I had a lot of peers who partied through college, skipped classes, hardly worked, majored in women’s studies / art history / literature / etc and still managed to live in the dorms, buy daily lattes, have the latest iPhones, etc.

Re: The Battle of GameStop

#88

Post by dash2 »

fennecfoxen wrote: post #9
vga805 wrote: post #5

Earlier quoted context omitted.

the bull thesis has been laid out in detail for months and it's a good one, this is organic interest, Ryan Cohen and others coming over from Chewy was the most recent catalyst

People exist who in the past two days paid $150 for a share that most analysts think is worth about $14 — at a company with negative earnings for six of the last seven quarters, and minimal earnings growth over the past few years. I'm sure there was some bull case for the company, and it might have had a snowball's chance in hell around $14 or even $20/share. But at $60+ ? What on God's good earth is supposed to make…

One answer is given at gmedd.com, which presents analysis suggesting that even in the “bear case”, GME could be fairly valued at about $40/share. Disclaimer: I don’t know if their analysis is any good, but would like to hear your thoughts.

Re: The Battle of GameStop

#89

Post by [deleted] »

trap_chateau wrote: post #11
throwaway0a5e wrote: post #2

They're not winning. They're just minting a different set of losers and pushing the drawing out by a couple weeks. And Reddit being Reddit you can never really be sure whether organic interest is pumping the stock or if they are being manipulated by an astroturfing campaign. If day trading weren't a conflict of interest for me I'd be looking into doing something like that (and consequently not blabbing about it on HN…

I think I'm convinced of manipulation. The memeing and the gameifying investment, calling each other retards (because you, user, you don't know _anything_) and the long obscure unfalsifiable ramblings about predictions or valuable investments hitting the top of the page, it all just seems a little fishy to me.

[deleted]

Re: The Battle of GameStop

#90

Post by in3d »

pxue wrote: post #62
IIAOPSW wrote: post #15

I've wrote this elsewhere. The thing that's clicked for me after reading the comments on wsb is that populism, amplified by the modern internet, is going to radically change the finance world in a similar way to how it radically changed our political landscape. These people aren't just investing in GME to enrich themselves. They are doing it to spite the people who they percieve as rigging the game. They are doing it…

this is exactly it. people say the market is a melt up.. another bubble. but i think that's wrong. It's like the show Billions, actual wallstreet does what wsb is doing ALL THE TIME. You make money when someone else loses money, it's simple. Except this time, the money isn't staying in the fraternity, it's being distributed out to the common folks. Can't have that it seems.

Common folks who get in late in the bubble will be the ones who will suffer. This populist mindset that you’re somehow sticking it to big banks or something by paying for trading is funny.
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