Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

u/DeepFuckingValue and the GameStop Reddit mania

wsj.com

Post reply on HN
Print view View original

31–40 of 554 posts

Re: u/DeepFuckingValue and the GameStop Reddit mania

#31

Post by misiti3780 »

I'm honestly confused by the press around this event.

I get it, /DFV started a short squeeze and got rich, that is great for him. I don't support naked shorting, it should probably be illegal (if it is not already) and it looks that was part of the reason this happened. Everyone has been suspecting for a while (especially here) that a lot of volatility in stocks like TSLA etc was due to Robinhood.

As of 5:33 EST, I'm on CNN right now and the main headline "Inside the Reddit army that's crushing Wall Street" (And the reddit army isnt crushing Wall Street, it's crushing a few hedge funds that happened to hold short positions in a few stocks. ) , so now a lot portion of America (and the world) is paying attention.

Hedge funds blow up all the time. Enron blew up, basically all of the Investment Banks blew up in 2008, LTCM blew up. Why is this such a big deal?

Re: u/DeepFuckingValue and the GameStop Reddit mania

#32

Post by MuffinFlavored »

misiti3780 wrote: post #31

I'm honestly confused by the press around this event. I get it, /DFV started a short squeeze and got rich, that is great for him. I don't support naked shorting, it should probably be illegal (if it is not already) and it looks that was part of the reason this happened. Everyone has been suspecting for a while (especially here) that a lot of volatility in stocks like TSLA etc was due to Robinhood. As of 5:33 EST, I'm…

> I'm honestly confused by the press around this event.

A lot of people wish they struck it rich, just like him. Money (to some degree) buys happiness. Gets you out of a job you don't like. Gets you more time with your family, less time doing stuff you don't like (like working).

If the poor can "eat the rich" and "catch them with their shorts down" in a stock trade that literally millions of others are pouring into (check how many subscribers r/wsb has gained past 7 days), it's literal herd mentality.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#33

Post by throwaway0a5e »

hehehaha wrote: post #18
u678u wrote: post #17

I like Matt Levine's comment " The guy behind one of the greatest trades of our time was giving out financial advice for MassMutual, and somehow they let him go." edit I missed the best part of the quote "I hope he showed up at client meetings in a headband and sunglasses with a glass of champagne in one hand and a chicken tender in the other. I hope he was like “never mind life insurance, man, you gotta buy GameStop…

Really helps discredit this notion of retail vs hedge fund. Most people who frequently make “DD” posts to r/wsb have ties to the financial industry and Wall Street. They either work there or have worked there. And yet they are critical of the Man? This is like ex-Facebook employees having a found-Jesus moment.

You can hate how the sausage is made and still work at the sausage factory.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#35

Post by yreg »

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…

Well if a stock market crash triggered by this is realistic (which I agree is), doesn't it make sense to hold a bit of GME for insurance?

I understand that there's no guarantee one will be able to exit it successfully even if it flies so high that it crashes the market. However I don't see a better insurance for people who don't have access to options/inverse etfs and don't want to sell their stocks.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#36

Post by [deleted] »

misiti3780 wrote: post #31

I'm honestly confused by the press around this event. I get it, /DFV started a short squeeze and got rich, that is great for him. I don't support naked shorting, it should probably be illegal (if it is not already) and it looks that was part of the reason this happened. Everyone has been suspecting for a while (especially here) that a lot of volatility in stocks like TSLA etc was due to Robinhood. As of 5:33 EST, I'm…

[deleted]

Re: u/DeepFuckingValue and the GameStop Reddit mania

#37

Post by sumedh »

tootie wrote: post #25
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…

It says as much in the article. He literally just thought GME was undervalued on its merits. He had no intention of creating a squeeze or punishing Melvin.

> 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.

Re: u/DeepFuckingValue and the GameStop Reddit mania

#38

Post by sumedh »

MuffinFlavored wrote: post #30
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…

A ton of people aren't doing any thinking for themselves. I'm pretty convinced there's some kind of organized manipulation attack going on within r/wsb. The same reason Parler got taken down for inciting violence without proper moderation, I'm seeing a lot of baseless claims from literally millions of people who do not understand how large/complex the financial systems at play are. I'm kind of worried Reddit could sh…

> I'm pretty convinced there's some kind of organized manipulation attack going on within r/wsb

Do you have any proof for that? If not then arent you the one who is spreading misinformation?

Post reply on HN