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The nihilism of r/wallstreetbets

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Re: The nihilism of r/wallstreetbets

#261

Post by at_a_remove »

quineoa wrote: post #99
aynyc wrote: post #85

Earlier quoted context omitted.

Well, you can't really change the odds or outcome of fantasy footballs or casinos. But at WSB, with enough retards (WSB terms), they can change the outcome.

Is it necessary to replicate the insensitive language here? I suppose the point could have come across without adopting the WSB usage in the same way.

Your unwillingness to even look at the "insensitive language" is part of the point of that group. Recall how anti facial recognition technologies have sprung up, guerrilla style, like "Dazzle." Similarly, these groups who do not want certain types of people looking at them adopt this language and behold, some do indeed look away.

Re: The nihilism of r/wallstreetbets

#262

Post by at_a_remove »

safog wrote: post #154
undefined1 wrote: post #80

Generational warfare waged via Robinhood. The video and comments here sum up a lot of it: https://www.reddit.com/r/wallstreetbets/comments/l1u036/wsb_...

Along this note, the new generational warfare is Gen Z vs Millenials. Gen Z posters are mostly tired of the millenial narrative of boo-hoo the system is rigged, I'm so poor, why won't someone give me free stuff and it's a meme to make fun of millenials on TikTok for saying this. I wonder how it'll go for them given they're mostly still in college / high school but we shall see. They've mostly graduated into a booming…

Meanwhile, occasionally Gen X raises its head from its apathy and wonders if the time for their generational warfare has slipped by.

Re: The nihilism of r/wallstreetbets

#263

Post by at_a_remove »

some_furry wrote: post #116
jsonne wrote: post #58

Earlier quoted context omitted.

"I also don't agree with the Wallstreetbets culture. I'm just trying to explain it."

You can explain it without calling people "autistic losers". Just "losers" is sufficient.

You don't get it, so here goes: they refer to themselves as autistic losers, and "retards" and such, precisely because it "triggers" someone exactly like you. You won't look any deeper, having been "triggered," and that's mission accomplished for them.

Re: The nihilism of r/wallstreetbets

#264

Post by cwhiz »

jeffbee wrote: post #254
cwhiz wrote: post #242

Earlier quoted context omitted.

Yes, you certainly can.

Your position is essentially that the price-finding function of stock markets is not necessary, in which case I wonder why we have the stock market at all.

Your position is that the price-finding function of the market is the ability to short. This isn't required in ANY other market.

If there are more buyers than sellers, the price goes up. If there are more sellers than buyers, the price goes down.

We don't need uninvested third parties literally gambling on the outcome of the above. The market will work just perfectly fine with just buying and selling.

Re: The nihilism of r/wallstreetbets

#265

Post by v64 »

scruple wrote: post #173
notJim wrote: post #113

"Most of these people are in hopeless debt with no clear path out anyway" I really really think this misreads who is trading on WSB, especially who are making big trades. There was a thread the other day of someone maxing out his credit cards to buy GME, and the comments were full of people calling him an idiot (albeit a lucky one), and imploring others not to do the same. If you read the comments on any big YOLO pos…

Case in point... The reddit user (u/DEEPFUCKINGVALUE) with the largest (publicly proven) gains in the recent GME episode seeded their position with over $750,000. They first showed up on r/WSB in March of 2019 when they first publicized their position.

He started off with $50k, but the cost basis is $750k now because he's cashed out some of the position.

Re: The nihilism of r/wallstreetbets

#266

Post by aaahayatav »

arcticbull wrote: post #260
aaahayatav wrote: post #247

Earlier quoted context omitted.

While prices vary wildly from city to city and type to type, I'd like to show you the King County price index that shows the trend in housing prices since 1975. https://fred.stlouisfed.org/series/ATNHPIUS53033A

Indeed, you're looking at supply not keeping up with demand due to artificial constraints imposed by King County.

Agreed. These artificial constraints are playing out in desirable locations everywhere in our country, as compared to say eastern Kentucky or Ashtabula, Ohio.

While incomes have indeed gone up in real terms, mandatory living expenditures for all Americans who don't consider a park bench to be shelter have also gone up in real terms in a more than proportional manner.

Re: The nihilism of r/wallstreetbets

#267

Post by jeffbee »

cwhiz wrote: post #264
jeffbee wrote: post #254

Earlier quoted context omitted.

Your position is essentially that the price-finding function of stock markets is not necessary, in which case I wonder why we have the stock market at all.

Your position is that the price-finding function of the market is the ability to short. This isn't required in ANY other market. If there are more buyers than sellers, the price goes up. If there are more sellers than buyers, the price goes down. We don't need uninvested third parties literally gambling on the outcome of the above. The market will work just perfectly fine with just buying and selling.

In another kind of market I can just enter the market. If the price of chairs goes bananas because someone has decided to buy and hoard all the chairs, I can make chairs, therefore increasing supply and restoring a normal price.

In the stock market the number of shares of each issue is fixed, so that doesn't work. This is why the short side is important for price finding. They inject supply into markets even when the long side is trying to manipulate the price up.

Re: The nihilism of r/wallstreetbets

#268

Post by CTDOCodebases »

scruple wrote: post #173
notJim wrote: post #113

"Most of these people are in hopeless debt with no clear path out anyway" I really really think this misreads who is trading on WSB, especially who are making big trades. There was a thread the other day of someone maxing out his credit cards to buy GME, and the comments were full of people calling him an idiot (albeit a lucky one), and imploring others not to do the same. If you read the comments on any big YOLO pos…

Case in point... The reddit user (u/DEEPFUCKINGVALUE) with the largest (publicly proven) gains in the recent GME episode seeded their position with over $750,000. They first showed up on r/WSB in March of 2019 when they first publicized their position.

u/DeepFuckingValue shits all over the writers narrative. Watch the video linked below if you disagree with me.

http://www.youtube.com/watch?v=GZTr1-Gp74U&t=49m0s

I guess if you are not used to interacting with people who have a sense of humour about everything and don’t take life too seriously then you are going to struggle to understand what’s going on in WSB.

How can a gambler be nihilistic? Don’t you need hope to gamble?

Re: The nihilism of r/wallstreetbets

#269

Post by utkun »

CTDOCodebases wrote: post #268
scruple wrote: post #173

Earlier quoted context omitted.

Case in point... The reddit user (u/DEEPFUCKINGVALUE) with the largest (publicly proven) gains in the recent GME episode seeded their position with over $750,000. They first showed up on r/WSB in March of 2019 when they first publicized their position.

u/DeepFuckingValue shits all over the writers narrative. Watch the video linked below if you disagree with me. http://www.youtube.com/watch?v=GZTr1-Gp74U&t=49m0s I guess if you are not used to interacting with people who have a sense of humour about everything and don’t take life too seriously then you are going to struggle to understand what’s going on in WSB. How can a gambler be nihilistic? Don’t you need hope to…

is roaring kitty = deepf%%kingvalue?

Re: The nihilism of r/wallstreetbets

#270

Post by lm28469 »

treis wrote: post #144
curiousllama wrote: post #30

WSB is hilarious. It’s also such a place of sadness. Taking credit card advances to YOLO into short-dated OTM call options is drug-addict level desperation. People joke about YOLOing their inheritance - and I suspect there’s some reality to it. Their parents’ entire life’s wealth can’t dig them out of whatever hole their in. The CNBC guys freaking out is incredible. Their Cramer feud is gold. But... this trend is dif…

>Taking credit card advances to YOLO into short-dated OTM call options is drug-addict level desperation. It's actually somewhat rational. Say you just graduated college and make 30k as a waiter. You scrape together savings, loans, CCs, etc. and pull together 20k. Take that to Robinhood 2-3x it with margin and place a 50k bet that has a 8% chance to pay off 10x. If you "win" you're up 15 years of wages or more. If you…

> It's actually somewhat rational.

> Say you just graduated college and make 30k as a waiter.

This is only rational in the US

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