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Reddit's GameStop, AMC surge is the new Occupy movement

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Re: Reddit's GameStop, AMC surge is the new Occupy movement

#241

Post by TheRealDunkirk »

totalZero wrote: post #235
throwaway0a5e wrote: post #220

Earlier quoted context omitted.

>Go to the third world and you'll see that reliability and longevity give Toyota a huge cachet that is basically unrivaled. >That effect is amplified in countries that have import tariffs on automobiles, because the secondary market is large. This is the exact same naive logic people use to justify Tesla's valuating. On one hand you have yuppie fanboys bindly harping on about Tesla's magical engineering in the face o…

Some of your response is a non-sequitur. The argument on the table is: > Toyota makes fairly boring products of the last century. Toyota sells around 10mm cars a year. Only about a fifth of those sales take place in Canada, US, and Mexico. The demand picture for EVs and vehicles in general is not uniform across geography. Some places like small cars, others big; some places like EVs, others have no chargers; some pla…

Toyota must be the prestige brand in India. I live in a small town dominated by a Fortune 250 who employs thousands of H1-B's, mostly from India. About 90% of them drive Toyotas. The pattern is easily noticeable.

It's also home to Toyota forklifts (TIEM), and, of course, lots of people at that company drive one.

Me? I own 4 Hondas. ;-)

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#242

Post by falcolas »

_ea1k wrote: post #187
falcolas wrote: post #126

Earlier quoted context omitted.

If you can't get something as simple as panel gaps right, why would I trust you to get the brakes right?

By installing the brakes right. There's no correlation between those two things. It would be like me saying to another automaker, how can I trust your brakes when the entertainment computer routinely crashes? Or how can I trust your suspension when your CVTs don't last as long as they should? These things don't correlate that way.

The correlation is that both installation steps are happening in the same assembly line, in the same conditions, by the same workers/robots. Panel installation is a solved problem. Brake installation is a solved problem. Electronics installation is a solved problem.

Except one of those solved problems very clearly isn't "solved." This is something that stops assembly lines in other manufacturers. That it doesn't with Tesla signals that other assembly-line-stopping issues may also be ignored.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#243

Post by ta1234567890 »

ashtonkem wrote: post #198
ta1234567890 wrote: post #44

Earlier quoted context omitted.

Bailouts for big companies owned by the rich, $2k paycheck (if lucky) for the rest.

Much ink has been spilt on both these disasters, a lot of it completely dishonest. Regardless of government actions, K shaped recoveries appear to be fairly typical for this society and this era; one should expect that the upper classes will recover quicker and better than the lower classes. Cheering on financial collapse in order to hurt the rich is a great example of cutting off your nose to spite your face; most o…

Agreed, a financial collapse is not good, and I’m not arguing in favor of it. My point is that, at least for this crisis, most people (and probably the economy as a whole too), would have been better off if the government had given money only to individuals. People would have then “voted with their pockets” and the money would have circulated according to what people needed, boosting the economy “organically”.

As a side note, as it has been painfully obvious this past year, the stock market is not the economy - however, it seemed like the government focused on saving the stock market instead of the economy.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#244

Post by milesvp »

criddell wrote: post #94
nradov wrote: post #46

Earlier quoted context omitted.

Short selling accelerates price discovery in order to allow for more efficient capital allocation, thus making our overall economy stronger.

> more efficient capital allocation Can you explain this more? More efficient on what axes? How does that translate to societal benefits that aren't just on paper?

There’s a better answer in this thread, but a tl;dr/eli5, is that if all I can do is buy a stock then the only information available in the price are the people who believe in the stock/bond (usually as a proxy for belief in the company). This means that all the people who believe the stock/bond is no good have no way to lend their belief to the price of the stock/bond. This represents an optimistic asymmetry in the stock/bond price. By having the ability to short, some of the asymmetry is removed thus making the price better able to reflect the future expected value of stock/bond. That’s what makes it “more efficient”.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#245

Post by falcolas »

_ea1k wrote: post #178
falcolas wrote: post #114

Earlier quoted context omitted.

It seems like a perfectly fine one to me. It's a signal that alerts us to a lack of attention to detail in assembly. For doors, it's not a deal breaker, but for the electronics installation or windows or brakes, a lack of attention to detail can be catastrophic.

From interacting with other owners, I'd say there's little chance of that. I see a few anecdotal reports of major issues, but no more frequently than I've seen with some other major brands. Although there are way more horror stories in dealing with service than there should be. They are really hard to contact and communicate with.

That's quite an extrapolation from what is likely to be a statistically insignificant number of data points.

If you interacted with a vast majority (including the majority that doesn't post on internet forums) of Tesla owners, this extrapolation might be valid. But I really feel like it's safe to assume that you don't.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#246

Post by emteycz »

Karunamon wrote: post #33
emteycz wrote: post #28

Earlier quoted context omitted.

What is "real economics" if law, contracts and supply/demand isn't real economics? Stock price was never supposed to closely mirror company's financials, that's a meme pushed by socialists that want to portray the stock market as wrong ("out of reality"). The financials are merely a indicator. It's stock market and what matters are the dynamics of that market, and the company itself is only a small part of that.

It's hard to not read this as a pathological corner case.

Yes, that it surely is - but from the Wall Street side; shorting 140% of stock should've been caught by regulators as it's illegal and totally impossible for retail investors. I don't think it was missed by mistake, though. People rallying to make profit from their mistake is nothing wrong, just new - this is the first time the small boys (instead of other big boys - but you can just ping them on Bloomberg terminal and make a deal with them) were able to catch them and coordinate their capital (the same thing the Wall Street guys are doing together, just bigger scale). It won't happen again as long as the big boys play according to the rules.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#247

Post by discardedrefuse »

gandalfian wrote: post #152

Aaaaand it's crashing!!! Down from 450 to about 125 in the last few minutes!!!

Many retail brokerages have disallowed buying GME, AMC, and a few others. Though, they are still letting users sell. Without the ability to buy, the price can only go down. There are other HN threads covering this aspect.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#248

Post by gher-shyu3i »

sudosteph wrote: post #218
gher-shyu3i wrote: post #186

Earlier quoted context omitted.

Events like these make it clear why the vast majority of Wall Street practices are banned in Islam (including shorting). It's a terrible predatory practice that is not just gambling, but also creating artificial risk that does not correspond to the value being created from such transactions. This can easily collapse the entire market as we already saw in 2008 and many times before. The sooner we prohibit these terrib…

It's crazy to think that I was raised going to church every Sunday, and I had never even heard the word "usury", or even the idea that lending money at interest might be morally wrong, until I started reading gnostic christian texts. It's there, the ancient church used to talk about it, but we don't anymore. It's weird to think that this entire piece of morality, which was taken seriously in the past, has just been e…

Exactly. They change the names to something more palatable. "Usury" became "interest", so it's all good now. In reality, it's all the same parasitic morally bankrupt garbage.

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#249

Post by fieldcny »

this_user wrote: post #54

The only thing more ridiculous than the rise in the GME stock are these attempts to frame this is some sort of culture war. All this is is a bunch of people on an online forum trying to make a quick buck; it's not some grand statement against Wall St. or whatever.

It’s hard to not see some element of “war” here when the rules are changed so dramatically and arbitrarily to advantage sellers over buyers. There is literally a freeze on buying certain stocks for certain investors but not others.

You don’t get much more class warfare than that.

And let’s be honest no one was talking about stoping buying in any names the hedge funds are collectively long

Re: Reddit's GameStop, AMC surge is the new Occupy movement

#250

Post by gher-shyu3i »

whiddershins wrote: post #207
gher-shyu3i wrote: post #186

Earlier quoted context omitted.

Events like these make it clear why the vast majority of Wall Street practices are banned in Islam (including shorting). It's a terrible predatory practice that is not just gambling, but also creating artificial risk that does not correspond to the value being created from such transactions. This can easily collapse the entire market as we already saw in 2008 and many times before. The sooner we prohibit these terrib…

I am under the impression that Islam technically bans loans. So one would have to do an investment instead of a loan with interest. Do you know if I have this right?

In Islam, loans are purely an act of charity. A person lends another person a certain amount of money, and they are not owed anything in return (tangible or intangible) other than that same amount of money.

In general, you're correct. People invest their money, with the possibility of profit or loss. One reason interest is prohibited is that the lender is contractually obligated to a profit regardless of the outcome.

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