221–230 of 313 posts
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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.
How much did you lose?
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> that means a ton of people are losing the life savings they dumped into this out of excitement as it crashed back down Can you provide a single case of someone losing their entire life savings by YOLOing it on GME at the top?
Assuming this person is legit (which is a huge assumption given it’s a stranger on Twitter), they appear to have sunk 90% of their worth into AMC: https://twitter.com/23michaeljam/status/1356785696959209472?...
That could be a lot of money to him, but it is not a lot of money compared to what an average worker earns in a year. A probably-young guy losing $6k on a risky stock bet is not life-destroying.
Also, depending on when he bought he could actually be up. And even if he bought at the top, it would still be worth something like 40% of that.
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> that means a ton of people are losing the life savings they dumped into this out of excitement as it crashed back down Can you provide a single case of someone losing their entire life savings by YOLOing it on GME at the top?
The Washington Post had an article yesterday about someone who was apparently $400k down on GME ( https://www.washingtonpost.com/technology/2021/02/02/gamesto... ): > The Reddit poster Volkswagens1, who declined to give his name but said he lives in the Pacific Northwest, showed The Washington Post an image indicating roughly $400,000 in potential GameStop losses from the day but insisted he would not sell. > He said…
It’s not clear to me this has sunk in w ‘Volkswagens1 nor the loss has really been faced. I’d bet the sober second thought will come after this article was published
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> Wild conspiracy theories, financial advice with no basis in reality, astroturfing, and mob behavior. Like convincing the world that 'short ladder attacks' were a thing. https://money.stackexchange.com/questions/135807/closing-sho...
I'm not really convinced a low traffic SE article proves the opposite however. While wsb is on the verge of going full Q'Anon, I find it equally curious how people seem to be willing to deny foul play when you have people like Jim Cramer confessing/bragging to it.
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…
It seems like something is only a "conspiracy theory" when it contradicts ones priors.
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…
> Wild conspiracy theories, financial advice with no basis in reality, astroturfing, and mob behavior. Like convincing the world that 'short ladder attacks' were a thing. https://money.stackexchange.com/questions/135807/closing-sho...
The fact that retail was restricted to selling and hedge funds were not, further corroborates foul play.
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"…
That scenario is pretty dissimilar to something like the value of a currency, which has value in proportion to the participants' trust in its stable value and how easily they can trade it for goods and services.
So to standardize on terms, I mean "bet" like I am betting on roulette, not "bet" as in I bet my bank will still be solvent tomorrow.
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> Wild conspiracy theories, financial advice with no basis in reality, astroturfing, and mob behavior. Like convincing the world that 'short ladder attacks' were a thing. https://money.stackexchange.com/questions/135807/closing-sho...
I'm not really convinced a low traffic SE article proves the opposite however. While wsb is on the verge of going full Q'Anon, I find it equally curious how people seem to be willing to deny foul play when you have people like Jim Cramer confessing/bragging to it.
Beyond that, the burden of proof is clearly on the "short ladder"-believing crowd, and so far what they have come up with is frankly embarasing.
I have zero problem believing that hedge funds would be more than willing to engage in shady behaviour if it can save them a billion or two, but screaming the nonsensical "SHORT LADDER" every time a highly pumped stock drops is ridiculous.
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If someone is going to ruin their life or retirement based proximately to posts in a Reddit forum, it’s very hard for me to assign root cause to the Reddit forum. At most that’s the first or second “Why?” but there is surely a deeper issue.
Many people were prudent blue-chip investors whose retirement was ruined by the housing crisis. There doesn't seem to be any 'smart money', just 'big money'.
I have no doubt there exists someone who was ruined by 2008, but most prudent blue chip investors were not.
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> that means a ton of people are losing the life savings they dumped into this out of excitement as it crashed back down Can you provide a single case of someone losing their entire life savings by YOLOing it on GME at the top?
There is this example [0]. Maybe not their whole life savings, but still a sizeable chunk. I'm sure there are a LOT of other people in similar scenarios now, who may not have fared much better. [0]: https://www.reddit.com/r/PersonalFinanceCanada/comments/lavx...
A 21-year-old soon-to-be software engineer losing $25k is not a life-changing tragedy.