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AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains

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Re: AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains

#171

Post by dheera »

PragmaticPulp wrote: post #2

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.

> pump and dump scheme

I don't see why everyone is against pump and dump schemes yet the system is literally designed for them to happen. It's an inevitable fact that they will happen when you set up a free market and a bunch of (stupid) humans from the general public, as also clearly demonstrated in the crypto scene.

If people don't want them to occur, the short-term incentives, market, and exchanges themselves need to be re-structured in a way such that takes into account what a group of humans with free communication would do.

Re: AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains

#172

Post by notJim »

dcolkitt wrote: post #92
dclusin wrote: post #72

Earlier quoted context omitted.

Whereas Hacker News is just a bunch of people who don't know what they're doing pretending to be experts to influence the actual idiots. You can find charlatans pretty much anywhere money or people with money congregate.

The difference is the HN hype train might cause you some headaches from picking an immature tech stack. Whereas the WSB echo chamber has literally ruined thousands of people's lives and retirements.

Do you have any proof of this? From what I've seen people are mostly aware they're gambling (it's in the name after all.)

Re: AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains

#173

Post by wizzwizz4 »

yaitsyaboi wrote: post #106
dougmwne wrote: post #85

Watching HN get caught up in this Gamestop bubble over the past week has been eye-opening to me about the community. The kind of information being spread around WSB was fully ridiculous. Wild conspiracy theories, financial advice with no basis in reality, astroturfing, and mob behavior. There has been an incredible amount of bleed-over between the garbage I've seen posted on WSB and the things posted in these HN thre…

All the speculative mania in here was like 1/1000th of the stuff on WSB.

Yes: it was ~1‰ of WallStreetBets. That's ridiculous for a community the size of Hacker News.

Re: AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains

#174

Post by adkadskhj »

kortilla wrote: post #147
dougmwne wrote: post #85

Watching HN get caught up in this Gamestop bubble over the past week has been eye-opening to me about the community. The kind of information being spread around WSB was fully ridiculous. Wild conspiracy theories, financial advice with no basis in reality, astroturfing, and mob behavior. There has been an incredible amount of bleed-over between the garbage I've seen posted on WSB and the things posted in these HN thre…

> Here is a truism for you all: In any casino Wall Street is not a casino in this regard. There is no “house edge”.

Eh, i know nothing on the subject - BUT - from people more informed than I, it sounds like the hedge funds were bullying the stock into the ground to make a profit. While not strictly a "house edge", i'd call that close - in that the funds available to a select few have more power than you in this case.

They have the odds stacked in their favor by nature of the size of their pockets and the ease by which they can flex this muscle to manipulate stocks in the direction they choose.

Sure, individuals could coordinate to flex similar levels of funds but even ignoring legality it's still difficult.

Re: AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains

#175

Post by nytesky »

toolz wrote: post #144
dougmwne wrote: post #85

Watching HN get caught up in this Gamestop bubble over the past week has been eye-opening to me about the community. The kind of information being spread around WSB was fully ridiculous. Wild conspiracy theories, financial advice with no basis in reality, astroturfing, and mob behavior. There has been an incredible amount of bleed-over between the garbage I've seen posted on WSB and the things posted in these HN thre…

I find that most people don't realize they are always betting. Keeping your wealth tucked under your mattress in USD is still a bet. Everything is a bet and everything has different risk profiles. If someone sees that shorts in GME are over leveraged, well in hindsight they were absolutely right to buy in to this "gambling". I find the most irrational actors with regards to investing are the people who only do "safe"…

I remember for me during 2008 I finally understood how NOTHING has intrinsic value, it’s always about what others perceive in the market. Real estate, dollars, gold, stock all arbitrary in a way I never considered. All built on sand.

Re: AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains

#176

Post by fractionalhare »

EugeneG wrote: post #17
NoOneNew wrote: post #8

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…

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.

Pension funds are not buy and hold as a rule. They also invest in a variety of other vehicles, including hedge funds with different strategies. I guess you could say they buy and hold in the hedge fund, but that's different. Very conceivable that a pension fund had a meaningful uptick because one of the funds it invests in timed GME's crash well.

Re: AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains

#177

Post by jb775 »

dougmwne wrote: post #85

Watching HN get caught up in this Gamestop bubble over the past week has been eye-opening to me about the community. The kind of information being spread around WSB was fully ridiculous. Wild conspiracy theories, financial advice with no basis in reality, astroturfing, and mob behavior. There has been an incredible amount of bleed-over between the garbage I've seen posted on WSB and the things posted in these HN thre…

Hindsight is 20/20. Being the guy on the sidelines saying "I knew this was gonna happen" after the fact never adds any value. It's you trying to make yourself feel special. If you were so confident in your predictions, show me where you shorted the stock and made a bunch of money off it going down. If not, please stfu with your grandmom truisms.

Re: AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains

#178

Post by WSB_Mod »

matwood wrote: post #62
texasbigdata wrote: post #24

Earlier quoted context omitted.

Mudricks position in AMC substantially predated any "hype" or "meme" economy impacts.

Yeah, prior to this meme, AMC was considered an acquisition target.

And for good reason, the exhibition business was consolidating, with Cineworld almost acquiring Cineplex, ultimately thwarted by COVID.

Re: AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains

#179

Post by tmpz22 »

clairity wrote: post #151
tmpz22 wrote: post #135

Earlier quoted context omitted.

Public health is a drastically different battlefield then public equity. It’s closer to seatbelt laws and geopolitics then it is to day trading. Of course there are going to be different arguments, different misinformation, etc. But you don’t hyper rationalize a public health crisis with arguments like: “I personally am low risk so...” “Actually I don’t need to wear a mask when I do this in public because...” “My pol…

> "You don’t hyper rationalize a public health crisis like you would a line of python code." when lives are at stake is exactly when we should 'hyper-rationalize' (which doesn't mean don't consider emotion at all). we don't build bridges, go into war, or write aircraft control software thinking we'll wing it.

Apologies I made an edit to my comment before yours posted that’s bad etiquette on my part. Hyper rationalization means following a technically correct path that misses the Forrest for the trees, in this case you could get away without wearing a mask while running through a park and maintaining a ten foot buffer, but you shouldn’t because it signals to others that it’s ok not to wear a mask and makes it less likely for others to conform if there is a list of semi exceptions.

Re: AMC, GameStop Give Hedge Fund Mudrick Capital $200M in Gains

#180

Post by robocat »

f430 wrote: post #59
thuganalyst wrote: post #44

Earlier quoted context omitted.

Even if posts/comments critical of GME make it through, they will get downvoted to oblivion. WSB has become just another giant echo chamber.

its bleeding on to HN as well. Just take a look at my comments that criticize their conspiracy theory. They seem to monitor this threads on HN and downvote anything that doesn't fit their HF "deep state" narrative. OR its likely that "smart" HN users bought into the hype and they are fully bought into the narrative that blames external factors than their own due diligence.

I suggest you start to treat the hn community a little less defiantly: to me your attitude seems contemptuous and condescending. If you humbly listen to downvotes then perhaps you will start to see good reasons for reader’s reactions to your comments.

I skimmed your comment history. Many of your comments are creating narrative from thin air - no different from the worst Qanon offender where there might be some fact but your spin is not. Tying in political arguments (like I just did) is also poor form IMHO. Many of your comments mention downvoting, which is a seriously bad smell to me. At the level of an individual comment, mentioning voting is usually an automatic downvote from me, and I presume others. Relevant HN guidelines: “Please don't comment about the voting on comments. It never does any good, and it makes boring reading.”, “Please don't post insinuations about astroturfing, shilling, brigading, foreign agents and the like. It degrades discussion and is usually mistaken. If you're worried about abuse, email hn@ycombinator.com and we'll look at the data.”

Edit: I am not saying your comments lack truth, I am just saying that it matters how you write it down.

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