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The Battle of GameStop

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Re: The Battle of GameStop

#161

Post by taway0125210 »

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…

Here's my account, that might be survivorship bias. I also traded tech stocks and cryptos and was able to significantly beat the market on the former and quit (also from Amazon) a few years ago.

I invested in NVidia after recognizing GPU shortages due to ML continuing hype. I switched to AMD after recognizing their Zen CPUs are slowly beating Intel. I switched to TSMC after realizing their accomplishments are significant part of M1 and Ryzen advantages.

My stock portfolio's growth is over +50% yoy over last five years on average (geomean).

The way I explain this to myself is that trading firms focus on economic fundamentals, which can not show upper hand in a specific technology. They are trying to recognize the later, but it requires understanding tech news articles, and best NLP AI methods are not there yet, whereas our brains can handle that task, especially if it is withing our own expertise.

If that theory is right, you can beat the market, but you have to be real expert in the area you are trying to trade in, and probably a few linked areas too.

Re: The Battle of GameStop

#162

Post by flakeandgray »

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…

Congratulations to you! Can I ask where/how did you learn to do what you did? Did you first learn general stock market investing or did you skip straight to options? Any advice and/or resources would be much appreciated. Thanks!

Re: The Battle of GameStop

#163

Post by mempko »

pyrrhotech wrote: post #133
nceqs3 wrote: post #116

Earlier quoted context omitted.

Ken Griffin made $6 billion during the pandemic. https://www.bloomberg.com/billionaires/profiles/kenneth-c-gr...

Yea and Elon Musk made 170B. Meanwhile, the average HN user probably made somewhere around 200k. I made 1.3 million last year. I know it's not a lot because I know people several orders of magnitude richer than myself, but I also know that there are risks worth taking in life, and no one becomes Elon Musk, Ken Griffin, DeepFuckingValue or even myself by calmly working a desk job. You have to have balls to really succ…

Ok, but what did you make the year before?

Re: The Battle of GameStop

#164

Post by MaximumYComb »

8note wrote: post #122
throwaway894345 wrote: post #87

Earlier quoted context omitted.

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.

I skipped classes and did a mechanical engineering degree and also a CSC degree. Do I count? Daily lattes are great. They're just coffee and milk. The people who aren't doing well aren't the ones who didn't drink, lived at home and did math degrees as far as I can tell

Why are people who did math degrees not doing well? Math degrees open all sorts of doors, at least once you get a bit of post grad education.

Re: The Battle of GameStop

#165

Post by totalZero »

hoten wrote: post #106
totalZero wrote: post #43

Earlier quoted context omitted.

> most analysts Counterpoint: "Most analysts" are hum-drum Wall Street hacks who cover dozens of companies and don't really have a clue about how the lion's share of them are run. I remember a few years back there was one analyst who kept talking about how NAND keeps getting cheaper and that's hurting memory suppliers...but the analyst's metrics didn't normalize for advancements in NAND speed nor the maturing of capi…

Comparing revenue might make sense if they were in the same slice of retail, but they aren't, so I think you can take zero value from such a comparison.

Lol. "This is flawed so it is worth zero" is a bad argument even when you present an alternative, but it's downright lazy when you just mail in the criticism without suggesting something else.

GME sells consoles and consumer electronics in addition to games, so I'd put BBY on the short list of comps for sure. But if you think the product mix is so different as to make them incomparable, that's ok. Pick a better metric and explain why GME was accurately priced at $260mm market cap when the company does billions in revenue.

Then, go back and explain why AMD was worth $2/share in 2014.

Then, go to every other heavily shorted name and wave your hands around looking for reasons to justify obviously overshorted valuations.

Re: The Battle of GameStop

#166

Post by smabie »

in3d wrote: post #71
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’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…

that's not how it works. Email me if you are genuinely interested in the how the institutional investors and market makers fit into this whole ecosystem. I'm tired of explaining market structure/incentives on HN. hint:

wall st money was lost on gme, not made. Market makers got killed trying to hedge those deltas, over and over again (it is impossible to statically hedge an option you have sold with a long/short position in the underlying tho in some cases like far ITM options, you can pretend like you can because the options delta is 1)

Re: The Battle of GameStop

#167

Post by totalZero »

edgyquant wrote: post #158
shouldiquitamzn wrote: post #95

Earlier quoted context omitted.

I made over 100 trades

I make winning option trades as well, as a hedge against my portfolio. If you made a disproportionate amount of cash of an options play it was luck. I’ve done it before, made almost 1500% on an AGFS play when I saw a consistent downtrend in it. But it was luck and nothing else.

This is a really, truly bad take.

Option prices move every day.

There do exist, in fact, some people who are very skilled at making money trading options. Some people do it for a living with rich people's money, and many of them have the same skillset/education as the general HN audience.

If this guy actually made millions over the course of dozens of trades, it makes more sense to let him talk than to downvote him and tell him that he's just an aberration of probability lol. Like, what do you gain by that? If he's lying, humor him and enjoy the conversation. If he's telling the truth, pick his brain.

Re: The Battle of GameStop

#168

Post by shouldiquitamzn »

taway0125210 wrote: post #161
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…

Here's my account, that might be survivorship bias. I also traded tech stocks and cryptos and was able to significantly beat the market on the former and quit (also from Amazon) a few years ago. I invested in NVidia after recognizing GPU shortages due to ML continuing hype. I switched to AMD after recognizing their Zen CPUs are slowly beating Intel. I switched to TSMC after realizing their accomplishments are signifi…

So funny you say this. The two stocks that got me started were Shopify and data dog. I knew datadog was a great freshly IPOd cloud play, Shopify would boom due to the lockdowns. So I put a ton of money in Shopify calls at the March bottom, then rolled the profits into Data dog, then Apple and so on. It was absolutely my understanding of e-commerce that gave me the confidence. Also how lockdowns related to the cloud. It’s only been lately that I’ve taken shots on MEME stocks. Deep tech understanding, scouring cathie woods ARKK etf has been very profitable.

But I think from a broader perspective, I’ve made huge leveraged bets on VTSAX/SPY/IWM on stimulus news. Very obvious that financial assets will inflate with each extra fed move.

Re: The Battle of GameStop

#169

Post by elmomle »

refurb wrote: post #60
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…

I was explaining to a friend of mine a few weeks ago why cynicism is so prevalent in our generation Where have I heard this before? ” As adolescents and young adults in the 1980s and 1990s, Xers were dubbed the "MTV Generation" (a reference to the music video channel), sometimes being characterized as slackers, cynical, and disaffected.” https://en.m.wikipedia.org/wiki/Generation_X

Arguably all started in the mid-to-late 70s when leadership in the US essentially threw in the towel on trying to improve the nation and started dismantling the country for profit. Adam Curtis's Hypernormalization does a very good job of illustrating this overall trend as it was reflected in the zeitgeist.

Re: The Battle of GameStop

#170

Post by alasdair_ »

8note wrote: post #124
viraptor wrote: post #47

Earlier quoted context omitted.

It's still a lottery. They didn't know if there would be enough real following or if most people were just trolling. Even if they estimated that well, they still had no idea where the peak was.

Do lottery entrants have influence on their probability of winning?

They influence the magnitude of the expected payout, certainly. (In a negative way)
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