41–50 of 313 posts
The important thing being lost in all the chatter: Elon Musk didn't have a creepy grudge against this hedge fund, therefore it is a good hedge fund.
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WSB moderators were (and still are) actively suppressing posts that don’t toe the line. I had a seasoned Reddit account that had been in WSB for a long time. As soon as I started commenting about how the short squeeze wasn’t a sure thing, my posts stopped showing up. They’ve been dismissing any comments that aren’t about GME going to the moon as hedge fund shills or bots. It’s extremely difficult to find any posts or…
I had to unsub (having been a member for years) because my homepage was full of, "WE ARE HOLDING:diamond: :hands:!!!!I :diamond: LOVE :hands: THIS :diamond: STOCK :rocket::rocket::rocket::rocket::rocket::rocket:" posts with 50k upvotes and a list of gold a mile long. Edit: looks like emojis are stripped
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> The WSB moderators really did everyone a disservice by letting obvious misinformation flood the subreddit. Well, on the flip side a lot of redditors learned from the school of hard knocks, which is the best teacher in a lot of ways. Moderators suppressing posts won't teach a lesson you can only learn by losing money.
WSB moderators were (and still are) actively suppressing posts that don’t toe the line. I had a seasoned Reddit account that had been in WSB for a long time. As soon as I started commenting about how the short squeeze wasn’t a sure thing, my posts stopped showing up. They’ve been dismissing any comments that aren’t about GME going to the moon as hedge fund shills or bots. It’s extremely difficult to find any posts or…
There’s a lot of anger against the financial system but unfortunately not much financial education to understand why it is working so poorly for average investors. That anger makes people lash out to try to change the status quo, which in this case caused Redditors to buy GME in spite of its ridiculously high valuation. But because they don’t actually understand the mechanics of the market the hedge funds will easily…
That same volatility is brutal to small investors, again on average - lack of information and high latency isn't your friend here.
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Not at all. The past few days they've shared not only the largest long holders of these stocks, but also the pension funds that were boosted as well. A few teacher pension funds got a good uptick and they were sharing that around. The cats at wsb might be self proclaimed retards, but they're not that stupid. They know lots of other folks are going to make money off of them. You know, if you actually visit the sub, yo…
Any uptick a pension fund would have had was lost once GME reverted back. Pension funds are buy and hold, so they could care less about short term fluctuations in 0.05% of their portfolio.
(Ontario Teacher’s Pension Fund sold almost 25M shares, for example https://www.bloomberg.com/news/articles/2021-01-29/reddit-fe...)
I expect a lot of Redditors will be very disappointed when they realize just how much money hedge funds made, on average, out of this episode. The WSB moderators really did everyone a disservice by letting obvious misinformation flood the subreddit. It’s hard to view the later stages of the GameStop phenomenon as anything other than a Reddit-fueled pump and dump scheme.
My pet conspiracy theory is that WSB is just a cat's paw for another hedge fund that saw an opportunity to make money and wanted to try out a new approach.
I expect a lot of Redditors will be very disappointed when they realize just how much money hedge funds made, on average, out of this episode. The WSB moderators really did everyone a disservice by letting obvious misinformation flood the subreddit. It’s hard to view the later stages of the GameStop phenomenon as anything other than a Reddit-fueled pump and dump scheme.
Not at all. The past few days they've shared not only the largest long holders of these stocks, but also the pension funds that were boosted as well. A few teacher pension funds got a good uptick and they were sharing that around. The cats at wsb might be self proclaimed retards, but they're not that stupid. They know lots of other folks are going to make money off of them. You know, if you actually visit the sub, yo…
I think the point being made here is that the whole narrative of "average people beating wall street" is pretty naive and quite bullshit. All in on, maybe a few handful of people got 10x or even 100x their money, but most of the gains were most likely made by hedge funds and with the exception of one or two hedge funds who were squeezed, the majority of losses will probably be by average people.
Earlier quoted context omitted.
Not at all. The past few days they've shared not only the largest long holders of these stocks, but also the pension funds that were boosted as well. A few teacher pension funds got a good uptick and they were sharing that around. The cats at wsb might be self proclaimed retards, but they're not that stupid. They know lots of other folks are going to make money off of them. You know, if you actually visit the sub, yo…
> A few teacher pension funds got a good uptick and they were sharing that around. The Ontario Teachers Pension Plan, who was holding GME, is one of the largest hedge funds in existence, worth over 200 billion dollars. For comparison, Maverick Capital is worth only $15 billion. That is not a case of some little guy teachers making out well, it is the rich (if not the richest ) hedge funds getting richer.
I expect a lot of Redditors will be very disappointed when they realize just how much money hedge funds made, on average, out of this episode. The WSB moderators really did everyone a disservice by letting obvious misinformation flood the subreddit. It’s hard to view the later stages of the GameStop phenomenon as anything other than a Reddit-fueled pump and dump scheme.
And if you think that these firms weren't already feeding every single post and comment on reddit into their HFT algorithms, you better at least believe that after this whole thing, they're gonna be doing that, and adding some extra weight to `if subreddit === "wallstreetbets"`.
From that point of view, WSB is rather icky; its people who know what they're doing (most of the time) subtly and anonymously impersonating an idiot to influence the actual idiots.