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The Battle of GameStop

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Re: The Battle of GameStop

#181

Post by 0b01 »

Centigonal wrote: post #59
0b01 wrote: post #31

Earlier quoted context omitted.

In fact, Citadel Securities has gained a lot money from the $GME event. Citadel Securities pays tens of millions of dollars for Robinhood order flow.

Is Citadel really making a lot of money from the GME squeeze? I know they rebate Robinhood for order flow (I've even commented about it [1]), but I thought events like this were hard for MM firms to capitalize on because of the unpredictable nature of the price action and the high cost of hedging (there are no shorts available, how do you even delta hedge in that situation?). Am I missing something? [1] https://news.…

It's very hard to miss the most actively traded option of the day.

Re: The Battle of GameStop

#183

Post by akhilcacharya »

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

It’s because generational theory is bogus of course!

Re: The Battle of GameStop

#184

Post by dionidium »

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 think this is a just-so-story meant to explain something that doesn’t require an explanation. It’s just gambling. Gambling is fun and human beings have always done it. You don’t need to posit anything special about Millennials. New forms of gambling come around every once in a while and this is one such event.

Re: The Battle of GameStop

#185

Post by hacker_9 »

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…

Psychology has always been part of the market, and this event can be explained by Soros' theory of reflexivity - that the stock market leads the fundementals, not the other way around. Once you forgo the efficient market hypothesis (and it's never been more obvious how incorrect this is), this event makes more sense. Same as Tesla, momentum is a psychological event lead by a positive feedback loop.

Re: The Battle of GameStop

#186

Post by eertami »

pid_0 wrote: post #91
shouldiquitamzn wrote: post #75

Earlier quoted context omitted.

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

Are you trolling or being serious?

The entire persona is quite clearly fabricated. I'm gobsmacked people are replying to them in good faith.

Re: The Battle of GameStop

#187

Post by watwut »

throwaway894345 wrote: post #87
willis936 wrote: post #42

Earlier quoted context omitted.

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.

> partied through college, skipped classes, hardly worked, majored in women’s studies / art history / literature /

Some of those things are not like the other. I studied computer science, plenty of people partied and as far as I can tell, people who studied humanities like literature had to work more. It was not easier major in terms of how much you have to work. I liked computer science, so I am always surprised about how many people seem to hold resentment toward those who studied less fun majors.

In any case, miniscule amount of population majored in women’s studies and they tend to cluster in top universities and from richer families. Meaning, it is not major drag on their future.

Majority of students go for practically sounding degrees - like various business related degrees. They tend to learn to like them somewhat, but generally are not intrinsically motivated to be accountants or what not at first. They are not making childhood passion based decisions, but the "what gets me job" decisions.

Re: The Battle of GameStop

#188

Post by nemothekid »

throwaway894345 wrote: post #87
willis936 wrote: post #42

Earlier quoted context omitted.

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.

>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.

Did you go to a 4 year private school (possibly a non-Ivy)? I feel like you are describing a class of Americans who are oblivious to their privilege, but are mistakenly labeled as the working class who’s problems would simply be solved if they stopped buying avocado toast and switched their Starbucks for water.

I assure you your classmates who went to private 4 year school on dad’s dime do not reflect the majority of working class millennials. For many millennials they are more worried about being wiped out by a trip to the hospital that would cost the price of 3 lifetimes of lattes

Re: The Battle of GameStop

#189

Post by [deleted] »

glohbalrob wrote: post #146
jameshart wrote: post #137

Earlier quoted context omitted.

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…

same can be said about just about anything, no? running marathons, startups, cooking a great dish... No one on WSB is saying its for everyone, thats why they talk trash about themselves.

[deleted]

Re: The Battle of GameStop

#190

Post by chronolitus »

edgyquant wrote: post #77
in3d wrote: post #56

Earlier quoted context omitted.

Getting rich through a greater fool theory and creating a bubble in a small stock is not something I’d be proud of. You’re sticking it to the least knowledge Johnny-come-latelies who will be left holding the bag. Thinking that you’re screwing Goldman Sachs is delusional.

This is why I absolutely hate Wall Street bets and push back every time it’s brought up. The people usually winning there are people who work in finance and are pushing their stocks onto the unsuspecting folks who visit just for the memes. There is something suspicious about a sub where high ranking users often post there 100k robinhood accounts, and the SEC investing them every few months is proof I’m not the only o…

well past 100k now, u/WSBgod, u/DeepFuckingValue, and others are showing plays worth millions of $

some of these accounts "Rose up from nothing" by investing an entire portfolio of 50+ thousand dollars into extremely risky options. Either this is suspect or I'm out of touch with the average joe's risk tolerance.

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