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u/DeepFuckingValue and the GameStop Reddit mania

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Re: u/DeepFuckingValue and the GameStop Reddit mania

#201

Post by runarberg »

kinghajj wrote: post #181
runarberg wrote: post #157

Earlier quoted context omitted.

idk. It seems like a savings account could do the trick. You can save a healthy retirement by putting a portion of your salaries in a savings account in your local credit union. As a bonus—while you are not using that money—other members of your credit union can use this savings in a form of a loan, to buy a home, start a business, etc. The idea of my retirement being at the will of some hedgefund manager is not appe…

> It seems like a savings account could do the trick. You can save a healthy retirement by putting a portion of your salaries in a savings account in your local credit union. With interest rates as low as they are, savings accounts have a negative real return. The $1000 you save today would have substantially less purchasing power by the time you'd retire. > As a bonus—while you are not using that money—other members…

Well in my ideal situation, the stock markets have already crashed and burned. My argument above is not that savings accounts are optimal for me personally, but that they are an alternative to the stock market. Better yet, an alternative which is far more worker friendly as they don’t rely on taking the profits from the workers and putting giving them to the shareholders.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#202

Post by alasdair_ »

hehehaha wrote: post #191
dbtc wrote: post #172

Earlier quoted context omitted.

I realize I need to do some basic reading on this stuff... but, when you say "made" does that really mean "changed hands"? Or is value/money somehow generated in these processes?

No, it’s zero sum.

It’s zero sum until a too big to fail actor is in danger, then new money is created and the game ceases to be zero sum.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#203

Post by foob »

Does anyone know if it's illegal to lie about your holdings as an individual retail investor? I've seen a handful of screenshots on /r/wallstreetbets showing large holdings, but it would be trivial to modify the page source before taking a screenshot.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#204

Post by airstrike »

nostrademons wrote: post #161
eMGm4D0zgUAVXc7 wrote: post #24

Earlier quoted context omitted.

Why do people constantly have to re-invent the wheel? :( Freenet [0] has been providing censorship-resistant, anonymous, decentralized hosting for 20 years - and is still in active development! You could upload it to Freenet without any server whatsoever and it would stay online for as long as it is popular, even if your machine goes offline. And you'd be anonymous while doing so! [0] https://en.wikipedia.org/wiki/Fr…

I remember when this came out 20 years ago. It was part of the whole wave of P2P filesharing programs that came out between 1999-2002: Napster, Gnutella, Kazaa, Audiogalaxy, etc. Amazing it's still going on. BTW, for folks new in tech - it's amazing how influential that wave of programs were, even though they largely failed in the marketplace. Napster founder Sean Parker later became the first investor and first pres…

Probably proof that who you know is about as important as what you can do, if not more

Re: u/DeepFuckingValue and the GameStop Reddit mania

#205

Post by xienze »

runarberg wrote: post #157
gred wrote: post #133

Earlier quoted context omitted.

Honest question, do you not have a 401(k) or similar? I certainly have a vested interest in seeing a healthy, sustainable stock market over the long term. Not because I'm part of the 1%, but because my upper-middle class retirement depends on it.

idk. It seems like a savings account could do the trick. You can save a healthy retirement by putting a portion of your salaries in a savings account in your local credit union. As a bonus—while you are not using that money—other members of your credit union can use this savings in a form of a loan, to buy a home, start a business, etc. The idea of my retirement being at the will of some hedgefund manager is not appe…

> You can save a healthy retirement by putting a portion of your salaries in a savings account in your local credit union.

You must be joking. My credit union is offering .1% on savings, and it’s not like they’re some extreme outlier, rates are incredibly low across the board. You are actively harming your future by doing this, you aren’t even keeping up with inflation!

Re: u/DeepFuckingValue and the GameStop Reddit mania

#206

Post by nursur2011 »

raziel2701 wrote: post #22

On wsb u/deepfuckingvalue showed he still holds 50,000 shares and 500 deep ITM call options. He has secured a profit of $13.8 million dollars, and his remaining open position is valued at $45 million. I would caution people to not quickly fall into the "if he's still in, I'm still in" meme. He has secured a $14 million bag, regardless if the stock goes to zero he's already secured a life changing amount of money, he…

I'm not sure there really is much systemic risk. It's pretty clear that there are many mechanisms in play to prevent that (just look at the buy restrictions the past 2 days). There are circuit breakers, they will stop trading before this stock goes astronomical. They will just have GME issue more shares is my guess if things get dicy.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#207

Post by lifeformed »

015a wrote: post #158
amluto wrote: post #110

Earlier quoted context omitted.

I wouldn’t be terribly surprised if some big players have carefully arranged to have large short interest but to be hedged against large upswings. This could be an expensive position to carry, but it could be quite profitable if people thought they were squeezing an unsqueezable short.

Right. My biggest concern with these plays, at this point, is that they're not taking into account the possibility of bankruptcy. There's a ton of "they have to buy it, if we hold all the shares then it'll go to the moon, 1k, 2k, 4k". (1) The sheer variety of financial vehicles available to professional investors is staggering, and while the initial DD was really good, we probably missed something at this point, and…

I thought bankruptcy would still mean the brokers are on the line for the money?

Re: u/DeepFuckingValue and the GameStop Reddit mania

#209

Post by optimalsolver »

ignoramous wrote: post #106

Looking back at (u/deepfuckingvalue) Keith Gill's comments on r/wsb, it looks like they had a solid theory to cash out by Jan 2021 for $8+ a share (most of their calls starting June 2019 were 80 cents a share or less [0]). This was by no means a strategy to make money by squeezing the short, though one user, conspicuously named u/burrym, speculated that it ought to be [1]. [0] https://archive.is/Y953e , https://archi…

What broker is he using?

Re: u/DeepFuckingValue and the GameStop Reddit mania

#210

Post by blackrock »

pnathan wrote: post #163
sumedh wrote: post #37

Earlier quoted context omitted.

> He had no intention of creating a squeeze If I am not mistaken he did say in one of his videos that there is a chance for a squeeze to happen.

if you trawl his reddit account, he mentioned 9 months ago there's a possibility of a short squeeze of some sort happening sometime.

It’s possible that when he said that, the short percentage was not greater than 100% of the floating shares, as they are now.

It seems like he was investing for the long haul, because of the stock and the company’s fundamentals.

But, the phenomenon now is the short squeeze, because of the excessive shorts over the available floating shares.

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