541–550 of 583 posts
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It’s even worse than this. The government feigns that they can’t do anything. And that everything is the result of the market. Meanwhile, they easily pass bills to increase their own pay, or find magic money to pay for their military wars. And then, after screwing up the 2008 crisis, they stopped building homes. And the homes that were foreclosed on, they allowed the rich corporations to buy them up for pennies on th…
$700,000 is a mansion in all but a few parts of the country. I suspect your view is distorted by your local environment.
$700,000 buys you a house with a single used toilet. Sold as is.
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This is sort of circular, the stock market can also devolve is pure speculation and go full casino, which are generally considered an example of a not-necessarily-net-positive addition to society.
it's not circular, but more to the point, you suggesting that the stock market can devolve (fail) is like saying "brakes on a car can fail, so brakes are stupid." Brakes are not stupid.
Stretching the brake analogy it would be similar to noting that just because you are pressing more your brake pedal it does not mean that your car is slowing down faster, sometimes you need an ABS
> The same emotion that caused us to root for the thieves in Ocean’s 11 is what makes Wall Street Bets so enticing. Put frankly, Millennials are tired of getting fucked by the man. When you’re underemployed with $100,000 in student loan debt, your financial situation feels overwhelming. You really don’t want to take the advice of your parents or CNBC talking heads [5] to invest 10% of your salary for a 4% annual retu…
Getting rich through a greater fool theory and creating a bubble in a small stock is not something I’d be proud of. You’re sticking it to the least knowledge Johnny-come-latelies who will be left holding the bag. Thinking that you’re screwing Goldman Sachs is delusional.
The only story here is that it is retail investors who are profiting off it rather than some other insider hedge fund.
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Most likely to do with this: https://fred.stlouisfed.org/series/M1 A bunch of money gets dispensed, mostly to the rich corporations. Instead of helping their employees they dump it into stocks of quality companies.
That doesn’t make sense. If it just went to rich corporations, it wouldn’t have gone into Tesla, which is considered massively overvalued by all of these traditional companies.
There was also a large amount of stimulus checks and unemployment bonuses that went to the same destination. Hence RobinHood having a record year. That's unrelated and somewhat contrary to the feds-bailing-out-big-business narrative though.
> The same emotion that caused us to root for the thieves in Ocean’s 11 is what makes Wall Street Bets so enticing. Put frankly, Millennials are tired of getting fucked by the man. When you’re underemployed with $100,000 in student loan debt, your financial situation feels overwhelming. You really don’t want to take the advice of your parents or CNBC talking heads [5] to invest 10% of your salary for a 4% annual retu…
> It's a never-ending shit-show. At least some of us are getting rich in /r/wallstreetbets. I wonder who will be the actual winners when these shorts end. In the meantime, let's enjoy the show.
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What a joke. You’re willing to go broke so they lose 2% of their capital? Good job.
I am already broke. The money I invested isn't enough to change my life, but the returns are. I can fast for a week or two, I can walk to school instead of taking the metro. I am poor af and they can't take that away from me. But you know, melvin capital is already 30% of their equity down in January. They have everything to lose. I have nothing.
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Getting rich through a greater fool theory and creating a bubble in a small stock is not something I’d be proud of. You’re sticking it to the least knowledge Johnny-come-latelies who will be left holding the bag. Thinking that you’re screwing Goldman Sachs is delusional.
This isn't getting rich through a greater fool theory. This isn't a pump-and-dump; it's a short squeeze. The only fool here is Melvin Capital which entered into some pretty foolish short positions and are suffering the price. The only story here is that it is retail investors who are profiting off it rather than some other insider hedge fund.
I’ve made millions on WSB options plays. I can finally quit my job and stop being a cubicle slave. The visceral reaction from the media on this is disgusting. Major hedge funds got caught on the wrong side of this, and have been making a huge stink about it. CNBC to the rescue, demonizing young middle class Reddit investors. This whole thing has opened my eyes to how even my FAANG compensation is peasant money, it’s…
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Getting rich through a greater fool theory and creating a bubble in a small stock is not something I’d be proud of. You’re sticking it to the least knowledge Johnny-come-latelies who will be left holding the bag. Thinking that you’re screwing Goldman Sachs is delusional.
Melvin Capital lost Billions last week alone. They needed to get bailed. You have been sold the narrative by the same people who screwed you in 2008. The bubble is the consequence of Hedge Funds getting greedy and repeatedly screwing a "dead company", by overshorting the shares. Don't take my word for it, take Louis Rossmann's, somebody known to stand for the little guy. https://www.youtube.com/watch?v=4EUbJcGoYQ4