191–200 of 479 posts
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Darn, that name is already taken. :( https://www.imdb.com/title/tt0115680/
Movie titles are not protected. This is why there are so many remakes when the exact same name. No licensing fee required.
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Retail investors lost millions because of an inability to buy?
Yes, they are forced to sell and other robinhood users could not buy. It means they allowed selling and restricted buying that will eventually make stock goes down because no other person even if they want to can't buy.
That makes no sense to me. If they really wanted to buy they could use another broker? If the market really is dropping then tough luck. You can lose all your money investing in the stock market. If you're leveraged you can lose even more (which might explain why some accounts were closed).
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I read once that in Islam taking interest on loans is forbidden, therefore Islamic banking operates based on some kinds of cooperatives. Is switching to an Islamic bank maybe an option? For those in Germany I recommend GLS bank. They have an ethical charter on whom they invest in and their loans are fully backed.
Can't find the source now, but I read that while Islam (and Judaism, at least in the past) forbids usury and this sort of extends to low interest too, the concept of interest is useful enough (or at least in demand) that people developed all kinds of practices that work almost exactly as interest.
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I’m not keeping my money with a financial institution that lies to me. End of story. Transfer initiated on my cash, and I’ll deal with moving stocks in the morning.
I’m not keeping my money with a financial institution that lies to me. I know for a fact my bank lies. They've been fined hundreds of millions of dollars for money laundering (it's HSBC). A few years ago I looked in to moving to a more honest bank, but I couldn't find one that also met basic criteria like having access to cash points in the UK and having a half decent mobile banking app. Literally every major bank th…
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The people who probably would have lost their money anyways (because they were waiting for more suckers to push the price higher) now have an excuse (other retail buyers couldn't open new positions). People who realized those were the suckers stomached selling while it wasn't as high as yesterday but still astronomical. The anger at Robinhood reminds me of when the government in Nigeria cracked down on MMM ponzi sche…
Except, as SI/Float was at 139%, there was a guaranteed sucker to buy it off them at basically any price - unlike in a Ponzi scheme where you never know if there’s going to be another sucker.
Source: https://www.ortex.com/symbol/nyse/gme/short_interest
So, every broker is on margin with DDTC, they don’t have to have 100pct cash for the dollar amount of the buy orders they send to DDTC, as long as they will have the cash in 2 day. Some brokers like fidelity have hoards of 401k money and more likely to have 100pct cash for their orders. Trading brokers like IBKR RH keeps the minimum possible amount of cash with DDTC, and their automated systems adjusted up the minimu…
Doesn't regular Robinhood require settled cash to trade? Edit: Nope, looks like Robinhood "Instant" is now the default, margin account, but still limited to $1000 per account: https://robinhood.com/us/en/support/articles/robinhood-accou...
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I’m not keeping my money with a financial institution that lies to me. I know for a fact my bank lies. They've been fined hundreds of millions of dollars for money laundering (it's HSBC). A few years ago I looked in to moving to a more honest bank, but I couldn't find one that also met basic criteria like having access to cash points in the UK and having a half decent mobile banking app. Literally every major bank th…
Handelsbanken has a good reputation or you could use a building society like nationwide.
To understand why this is happening, you need to understand the person that started it all: u/deepfuckingvalue https://www.reddit.com/user/deepfuckingvalue He posted updates regularly of his positions. Scroll all the way down and see how much money he made over time. As he started becoming more successful, more and more people wanted to replicate his success, eventually creating the movement that you hear about today…
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I’m not keeping my money with a financial institution that lies to me. End of story. Transfer initiated on my cash, and I’ll deal with moving stocks in the morning.
I’m not keeping my money with a financial institution that lies to me. I know for a fact my bank lies. They've been fined hundreds of millions of dollars for money laundering (it's HSBC). A few years ago I looked in to moving to a more honest bank, but I couldn't find one that also met basic criteria like having access to cash points in the UK and having a half decent mobile banking app. Literally every major bank th…
1. revolut - these guys are complete jokers. closed after being asked to provide the proof of funding 3 times in 3 months.
2. hsbc/first direct - somewhat decent. but i only use it to top up my other accounts. i try to avoid them, as they're just too big.
3. starling - simple, no-nonsense banking from a startup.
4. revolut business - had my account closed down by the "bank" because they didn't want my business. no reasons given. again, complete jokers.
5. freetrade - decent investing platform, but very very amateurish.
6. saxo bank - professional investing. they're a huge company, never had issues with them. and yes, they of course accept me buying gme and the like, plus they also support options. unfortunately it costs. a lot.
7. metro bank - what can i say. it feels like a 20th century bank with a nice app. had many issues with them, including a transfer that went missing for 2 weeks, and a EUR account that forced me to go to their branch every time i wanted to do a transfer.
8. ing bank nv - depending on the territory you're opening the account, they might be either really bad or somewhat bad.
9. rabobank - bank was constantly getting hacked and all account ops were blocked while the hacking was happening. also, the hackers managed to empty my account and the bank representative had to use a special card to withdraw some funds so that i could continue living.
later edit:
10. transferwise - very slick, minimal fees, used them from before they were a bank. no issues so far.
11. monzo - i'm not in their target market unfortunately. their features are not useful to me.
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An inability to buy means an inability to squeeze the short harder, and depending on how hard you have squeezed that can affect the overall success of the squeeze. Also they apparently forced sale on some accounts, which combined with an inability to buy more, definitely affected stock prices.
But you won’t lose. Right?