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The Battle of GameStop

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Re: The Battle of GameStop

#171

Post by Bjartr »

elmomle wrote: post #169
refurb wrote: post #60

Earlier quoted context omitted.

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.

“The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise. Children are now tyrants, not the servants of their households. They no longer rise when elders enter the room."

-Socrates

Re: The Battle of GameStop

#172

Post by hendzen »

pyrrhotech wrote: post #96
hendzen wrote: post #24

The only person really winning here is Ken Griffin.

Damn, here I was thinking /u/DeepFuckingValue was winning by turning 53k into 13M, more than any of the jealous fucks here will make in their lifetime working their miserable engineering jobs and afraid to take any risks in life https://www.reddit.com/user/DeepFuckingValue

I'm happy that guy did well. But one guy taking a negative expected value bet and winning big doesn't really help all the other little guys on WSB who got roped in to buying GME at 100+ today or might even be ITM on their calls but will get crushed by insane spreads, theta decay due to halts and don't have the capital to exercise.

I'm not spiteful of KG and the other people who are making the real money off all the crowds at the option casino, if anything I respect their shrewdness - Citadel prints insane money on these option premiums, and as a bonus KG gets to invest in Melvin at firesale prices and probably gets to extract insane terms.

As far as 'jealous fucks working miserable engineering jobs' - I think you might be projecting a bit there :)

Re: The Battle of GameStop

#174

Post by taway0125210 »

shouldiquitamzn wrote: post #168
taway0125210 wrote: post #161

Earlier quoted context omitted.

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.…

I am keeping my bets conservative. These were all long term (1+ years) except a few option trades. Consider this a hedge against the very phenomenon discussed in this article.

Re: The Battle of GameStop

#175

Post by edgyquant »

totalZero wrote: post #167
edgyquant wrote: post #158

Earlier quoted context omitted.

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 a…

I don’t have enough karma to downvote, dude. It’s also not a bad take. Institutional investors do indeed make a killing and you can do fine using i.e. the wheel strategy. But if you’re YOLOing on WSB and you aren’t an institutional investor it is almost certainly luck to turn thousands into millions.

Re: The Battle of GameStop

#177

Post by brandonr49 »

IIAOPSW wrote: post #92
admax88q wrote: post #32

Earlier quoted context omitted.

I think this is more like beanie babies all over again. Except now that its easier to trade its happening in stocks. Populism of a companies stock doesnt really change the performance of that company. GME will implode eventually and the newest suckers or WSB will be left holding the bag.

You're not quite getting what I'm saying. A bubble like beanie babies and dutch tulips is still a logical consequence of seeking financial gain. A bubble is a game of chicken. It is about knowing when to jump off. This is a new phenomena. It is no longer about just making the bull thesis or the bear thesis. It is now persuasive to make the "this will fuck over a hedge fund manager" thesis. We need to add an entirely…

Strong vote for this new animal being Badger. Bull vs Bear vs Badger

Re: The Battle of GameStop

#179

Post by aeternum »

jameshart wrote: post #137
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 played a game, you played it well, and you won. Well done. But don't pretend that that means everyone can do it, because patently they can't: you won your bets, a bunch of other people lost theirs. No value that wouldn't otherwise have been created got made, you just shifted the balance of how the rewards are distributed in your favor, and away from someone else. As a system for distributing the benefits of econo…

If you believe that op played the game well, then he successfully took capital from less efficient companies and allocated it to new more efficient companies. This creates value.

Re: The Battle of GameStop

#180

Post by aeternum »

ffggvv wrote: post #140
Spivak wrote: post #69

Earlier quoted context omitted.

I mean of course it doesn’t stay high once the shorts are covered. But everyone who sells to people with short positions will absolutely come out on top which is the point.

what about the wsb folks who were tricked into buying in at 150 today?

If the company has smart execs, it can stay high. Capital just became very cheap for GME, a good team can put it to use.
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