The Battle of GameStop

Post by zappo2938 » Tue, Jan 26, 2021, 4:22 AM UTC

jlos wrote: post #81

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...

Post by konjin » Tue, Jan 26, 2021, 4:23 AM UTC

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…

Post by konjin » Tue, Jan 26, 2021, 4:26 AM UTC

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…

Post by mempko » Tue, Jan 26, 2021, 4:35 AM UTC

shouldiquitamzn wrote: post #95

edgyquant wrote: post #86

Earlier quoted context omitted.

Yes you did get lucky on an option play

I made over 100 trades

Post by edoceo » Tue, Jan 26, 2021, 4:38 AM UTC

rokobobo wrote: post #27

gruez wrote: post #14

Earlier quoted context omitted.

>It's a never-ending shit-show. At least some of us are getting rich in /r/wallstreetbets. This is sad because most of what you've said can be applied to lotteries as well, which historically has been criticized as being a "tax" on the poor. The end result is the same: people putting themselves in a worse place financially (on average), just so they can cope with their bleak existence.

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