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The Battle of GameStop

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Re: The Battle of GameStop

#561

Post by jedmeyers »

piva00 wrote: post #534
jedmeyers wrote: post #470

Earlier quoted context omitted.

> system is designed to give money easily to young people Who exactly designed the system that way? Banks (aka capitalists) were not very keen on doing this exact thing for the risk reasons, and now the government ended up backing most of the educational debt for some reason (aka socialism).

"Who?" is a very loaded question for a process that for happenstance ended up designed this way through the decades. It's not about a single designer, it's about a power structure that has been perpetuated by the elites on this power structure. And I'm sorry, the moment you use "socialism" to describe the government backing private loans from institutions that are privately held you lost me. This is not even close to…

> And I'm sorry, the moment you use "socialism" to describe the government backing private loans from institutions that are privately held you lost me

No, I am sorry. When government forces financial institutions to give loans to everyone applying without risk analysis it IS socialism, aka “democratic control over the enterprise”. No capitalist in their right mind would give hundreds of thousands of dollars to pay for underwater basket weaving degrees and expect to see the money back.

Re: The Battle of GameStop

#562

Post by phil_e_delphian »

fennecfoxen wrote: post #526
phil_e_delphian wrote: post #53

Earlier quoted context omitted.

DoorDash has had negative earnings for all but 2 (1?) quarters it has existed, and trades at about $190 a share, despite direct competition from multiple functionally identical competitors. The market is broken, at least retail investors are benefiting for once.

DoorDash has a growth story that GameStop doesn’t. It’s pure fiction, mind you! But at least it exists. Either stock is terrifying.

Agreed. The difference this time is that the gains are socialized this time, not retained in the fraternity of HF, PE, and IB.

Which is exactly why Wall Street and financial media is denigrating it. They hate that they don't have the edge, or a monopoly on profits in this case.

Re: The Battle of GameStop

#563

Post by DCF »

shicky wrote: post #552
DCF wrote: post #290

Earlier quoted context omitted.

> 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 I don't disagree with your post overall, but do want to give some credit to the particular user being discussed. He had a solid bull value thesis that was well thought out and not at all based on memes, with the short squeeze potential being a mere aftert…

what's his youtube?

Roaring Kitty

Here is an hour long video of him explaining his GameStop thesis: https://youtu.be/GZTr1-Gp74U

Re: The Battle of GameStop

#564

Post by stevievee »

justaman wrote: post #412
stevievee wrote: post #304

Where is the evidence that most of the volume came from wsb users? Genuinely curious because I don't know the details. Is it possible that a third party saw the situation and joined in?

Robinhood is the app of choice for WSB users. Robinhood also leans heavily towards the younger crowd. Robinhood released numbers recently on how many people have tsla, gme, pltr and other stocks in their portfolio. Google it.

That is just a generic trend. It doesn't explain who participated in the past 3 days of volume.

Re: The Battle of GameStop

#565

Post by [deleted] »

thick wrote: post #142
pyrrhotech wrote: post #133

Earlier quoted context omitted.

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…

Can’t upvote this enough. HN has turned to shambles over the years as people here are way more concerned with “getting out” than they are with building companies. It’s not surprising the place is a cesspool of jealousy whenever someone succeeds. I’ve called them out on this shit years ago. It still hasn’t changed.

[deleted]

Re: The Battle of GameStop

#566

Post by dang »

thick wrote: post #142
pyrrhotech wrote: post #133

Earlier quoted context omitted.

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…

Can’t upvote this enough. HN has turned to shambles over the years as people here are way more concerned with “getting out” than they are with building companies. It’s not surprising the place is a cesspool of jealousy whenever someone succeeds. I’ve called them out on this shit years ago. It still hasn’t changed.

This seems like a case of randomness plus sample bias equals overgeneralization. In case of indignation, multiply by 10x.

Separately: Could you please stop creating accounts for every few comments you post? We ban accounts that do that. This is in the site guidelines: https://news.ycombinator.com/newsguidelines.html.

You needn't use your real name, of course, but for HN to be a community, users need some identity for other users to relate to. Otherwise we may as well have no usernames and no community, and that would be a different kind of forum. https://hn.algolia.com/?sort=byDate&dateRange=all&type=comme...

Re: The Battle of GameStop

#567

Post by [deleted] »

ALittleLight wrote: post #477
goodmattg wrote: post #356

Earlier quoted context omitted.

I can't tell if this is in jest... if you're actually interested, the role of HFT in markets is hotly debated. The HFT side argues that they improve markets by providing liquidity - and that's true to an extant, spreads have narrowed drastically over time. And yes, there is the opposite side arguing they are purely "parasites", and exchanges like LTSE have been built specifically to counter HFT (Flash Boys, etc.) Per…

The comment I'm replying to uses the word frontrunning to describe their activity. Frontrunning is a crime. Hardly a loose use of the word to describe the perpetrators of crime as criminals.

[deleted]

Re: The Battle of GameStop

#568

Post by alisonkisk »

jedmeyers wrote: post #561
piva00 wrote: post #534

Earlier quoted context omitted.

"Who?" is a very loaded question for a process that for happenstance ended up designed this way through the decades. It's not about a single designer, it's about a power structure that has been perpetuated by the elites on this power structure. And I'm sorry, the moment you use "socialism" to describe the government backing private loans from institutions that are privately held you lost me. This is not even close to…

> And I'm sorry, the moment you use "socialism" to describe the government backing private loans from institutions that are privately held you lost me No, I am sorry. When government forces financial institutions to give loans to everyone applying without risk analysis it IS socialism, aka “democratic control over the enterprise”. No capitalist in their right mind would give hundreds of thousands of dollars to pay fo…

We used to have socialized college education, taxpayer paid. Now we have capitalist loans paying for it, and borrowers pay high rates of interest for decades.

No one has a degree in underwater basket weaving.

Re: The Battle of GameStop

#569

Post by alisonkisk »

mrec wrote: post #222
MaximumYComb wrote: post #164

Earlier quoted context omitted.

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.

I think you missed the double negative.

Well I didn't get a math degree.

Re: The Battle of GameStop

#570

Post by alisonkisk »

ntsplnkv2 wrote: post #494
mbg721 wrote: post #476

Earlier quoted context omitted.

A degree from a state school in something reasonably marketable will still provide a decently comfy lifestyle in most of the US, and there are still plenty of single women who aren't spending all their time looking for someone a little bit snazzier on Tinder. Sure, it might not be quite as easy now, but I think the benefits of baby-boomerdom are a little exaggerated.

This attitude is what continues to kill us as a nation. "Everything is fine! remember this!" but if you look deeper most of it is not true. Things are not well for this nation. The capitol was just stormed. Those statistics are easily gamed. For one, salaries aren't that high in the cheap COL areas and there aren't any jobs or room for advancement in Tusla. Sorry, that's just the facts. There are plenty of shitty pla…

People not having sex is because they are too busy playing on computers and TV and internet instead of socializing in meatspace, not because women are to busy working to be fembots.
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