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Robinhood is automatically initiating GME sell orders on users' behalf

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Re: Robinhood is automatically initiating GME sell orders on users' behalf

#291

Post by maest »

dj_mc_merlin wrote: post #223
greenshackle2 wrote: post #84

Earlier quoted context omitted.

Not just Reddit. It's here too. It's wild to see people being whipped into a frenzy in real time. I'm following the discussions a bit, lots of comments by people spreading conspiracy theories, comments asking for evidence are just downvoted, or met by the conspiracy theorist's favorite, "do your research", comments spreading disinformation like "citadel owns robinhood" with a tweet as the only source, people who have…

One of the most common techniques of making a class of people seem crazy is associating conspiracy theories with them. CIA has been doing it for nearly a century by now.

I like how this is a meta conspiracy theory. We're way beyond the land of the falsifiable at this point.

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#292

Post by vinay427 »

Jommi wrote: post #273
vinay427 wrote: post #264

Earlier quoted context omitted.

Most major retail brokerages in the US have eliminated fees for stock trades. https://www.stockbrokers.com/compare

Thats not quite accurate - a lot of the brokerages have only introduced it commission free on certain conditions. For example IBKR still has other fees if you want to use any of their more advanced features.

Yes, that's fair and it's certainly more accurate, but I assume the OP is comparing the fees of Robinhood to those of other platforms. Robinhood tends to not have many of those advanced features that other brokerages still charge for, as far as I can tell. Is there a specific feature or features you were thinking of?

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#293

Post by mbreese »

stronglikedan wrote: post #121
mbreese wrote: post #116

Earlier quoted context omitted.

> When I bought my house, the attorneys sat down with me and had me read through and explained to me every single term of the purchase agreement and my mortgage Really? Because that would make closing take forever. I mean, even after the purchase agreement and mortgage terms, there are a ton more documents to go through.

They attorneys have done the same with me through all three of my closings, and yes, they do take forever, precisely for that reason.

They take forever, but if I had to have been explained each line for each form, it would have taken a week.

Instead, our attorney got a copy of all forms the day before closing for him to review. Then he could review them quickly, looking for anything unusual. Then, during closing, we didn't have any questions, so this made an already long process a bit more efficient (still took over an hour).

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#295

Post by [deleted] »

ed25519FUUU wrote: post #219
runako wrote: post #132

Obviously, margin calls are legitimate. But Robin Hood obviously played an important role in the price direction that led to the margin calls. I honestly don't know how anyone could trust RH as a neutral party after this.

What brokerages hit you with a margin call when you're UP on a stock? Margin calls are for when you fall BELOW a certain liquidity event. His shares are for $118.93. He's up over 60%.

[deleted]

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#296

Post by wegs »

maest wrote: post #291
dj_mc_merlin wrote: post #223

Earlier quoted context omitted.

One of the most common techniques of making a class of people seem crazy is associating conspiracy theories with them. CIA has been doing it for nearly a century by now.

I like how this is a meta conspiracy theory. We're way beyond the land of the falsifiable at this point.

To be specific, we're in the land of confirmable and obvious.

Consider:

* Most conspiracy theories are false.

* Many conspiracies do exist. I've seen people involved in a few.

In conspiracies, people keep secrets. Ergo, there's a poor mapping between actual conspiracies and conspiracy theories. People are speculating with no evidence. On the other hand, the conspiracies I've seen, you haven't heard of, and you probably won't.

The CIA is quite literally the US government covert agency set up to meddle in foreign affairs. It's raison d'être is to:

1. Collect covert intelligence for the US

2. Undermine enemies of the US / support friends of the US

A vague statement like "The CIA is involved in conspiracies" or even slightly less vague "The CIA lies and sometimes vilifies people" are almost vacuously true. That's literally what a covert government agency is designed to do.

A conspiracy theory is much more specific. "The CIA assassinated [leader] on [date] by [some action that looked like an accident] in order to [favorable outcome]." Most of those, with blanks filled in, are paranoid nonsense. If the CIA is doing it's job, I'll never find out about whom it assassinated or why. On the other hand, a blanket statement like "The CIA sometimes engages in assassinations" is obviously true. We have plenty of records from times the CIA slipped up.

As far as associating people with crazy by associating conspiracy theories with them, we're not even at the level of CIA. We're at the level of municipal politics, divorce cases, executive battles, and corporate PR smear campaigns.

If the CIA isn't involved in conspiracies, where are my tax dollars going?

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#297

Post by jsjohnst »

ptd wrote: post #265
paxys wrote: post #249

Earlier quoted context omitted.

If there's no evidence backing it then it is a conspiracy theory, whether coming from an anonymous Reddit post or from a billionaire's Tweet. I don't know Justin Kan's background but he could very well have his own angle behind all this, or just faulty information. And even if he is correct, he is saying something very different from the post I mentioned.

It seems clear to me that you don't become a billionaire by leaving evidence of your ill acts. Certainly not when the spotlight of the entire country is on you. If you don't mind me asking, do you interface with these kind of people? I don't and I'm wondering if you have some kind of insight I'm missing.

> If you don't mind me asking, do you interface with these kind of people?

Yes, I do, multiple people in fact (which I refuse to name drop). That’s why I replied to you the way I did in my other sibling comment. Him tweeting it means somebody told him, and likely he trusts that person. Billionaires are humans like anyone else, they sometimes trust the wrong people. They can also fall victim to “hearing what they want to hear”. They also have a lot of folks who want to win favor with them and thus will intentionally or unintentionally take information out of context and oversell it as something it isn’t. The ultimate point is that thinking a billionaire won’t possibly be misled/deceived themselves and then share wrong info (Elon Musk has had this happen a few times as an example, but he’s far from alone), or won’t deceive others for their benefit (there’s a “household name” in the US that immediately comes to mind as an example, leave it to you to decide who I mean), just seems naive to me.

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#298

Post by jsjohnst »

ptd wrote: post #262
snowwrestler wrote: post #255

Earlier quoted context omitted.

I would believe Justin got that tip but that does not mean it was true. It doesn't even make a lot of sense as the part of Citadel that executes trades cannot talk to the part of Citadel that takes short positions, and vice versa.

You really believe that the departments don't communicate? Once again, finding out that a lot of people see the world very differently than me. Why don't you think they communicate? It seems so clear to me that the departments work in cohort behind closed doors.

> Why don't you think they communicate?

Probably because it’s the law that there’s barriers put in place, that’s why? Like some communication will inevitably happen, but there are compliance teams who’s job it is to ensure it’s at a minimum.

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#299

Post by imtringued »

dalbasal wrote: post #245
MrPatan wrote: post #177

Earlier quoted context omitted.

Not exactly. It would be as if the bank that mortgaged your house then prevented people from buying it, then turned around to you and said "See? Nobody wants it! You need to lower the price. Oh! What's this? The price has gone down, I need to reposses it. Thanks, come again!

Ding ding ding. These "here's why it's OK" legitimations are sounding just as cynical as the high profile insiders' rage against WSB that we have been hearing. This is fast becoming a symbol of brazenly rigging of financial systems to ensure the house wins. Hypocritical appeals to responsibility are half of what's causing all this rage. Sure, a responsible broker might reserve a right to liquidate your position in or…

I consider this to be the funniest part.

It's a cat and mouse game. This is a once in a lifetime event where you can push everything to extreme limits. As wall street gets more desperate they will resort to extreme and more extreme tactics. The average retail investor is not going for a win. They are trying to make the house expose all of the cheap tricks.

The end result is a checklist of publicly confirmed anti retail strategies.

Short selling above and beyond? Check

Bailouts among wallstreet? Check

Deplatforming? Check

Control conventional media? Check

Prevent buying stocks? Check

Forcibly sell shares? The jury is still out

Re: Robinhood is automatically initiating GME sell orders on users' behalf

#300

Post by UncleMeat »

ptd wrote: post #265
paxys wrote: post #249

Earlier quoted context omitted.

If there's no evidence backing it then it is a conspiracy theory, whether coming from an anonymous Reddit post or from a billionaire's Tweet. I don't know Justin Kan's background but he could very well have his own angle behind all this, or just faulty information. And even if he is correct, he is saying something very different from the post I mentioned.

It seems clear to me that you don't become a billionaire by leaving evidence of your ill acts. Certainly not when the spotlight of the entire country is on you. If you don't mind me asking, do you interface with these kind of people? I don't and I'm wondering if you have some kind of insight I'm missing.

Donald Trump is a billionaire. It is also plainly clear that he has conspiratorial thinking and is often fooled by completely incorrect information. Somebody being a successful tech entrepreneur has almost nothing to do with being able to develop deep understanding of rapidly changing situations off third hand evidence.
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