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GameStop Is Rage Against the Financial Machine

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Re: GameStop Is Rage Against the Financial Machine

#771

Post by hrez »

chrisseaton wrote: post #641
fragmede wrote: post #624

Earlier quoted context omitted.

They're both forms of retirements savings, but a 401k is a totally different form of retirements savings from a pension.

I don't know why people get confused about this! It's a fund to give you income in retirement. That's a pension! You can have both defined-benefit and defined-contribution pensions. Not all pensions are defined-benefit: 401(k) is a defined-contribution pension. Wikipedia say it's a pension: > a 401(k) plan is an employer-sponsored defined-contribution pension https://en.wikipedia.org/wiki/401(k) The US Code also says…

But it doesn't quack the same as defined-benefits. If 401k tanks no amount of calling it a pension is going to feed you.

Re: GameStop Is Rage Against the Financial Machine

#772

Post by neuro »

vpribish wrote: post #754
gpm wrote: post #682

Earlier quoted context omitted.

> Hedge-fund cries foul. Doesn't like being beaten in it's own game. Have any of the hedge funds actually cried foul?

yeah - this is just a squeeze. they happen. any sophisticated player in the market will recognize this as a normal (though not common) thing. the weird and new part is that the people cornering the market are a horde of retail traders who are colluding in the open, but in a way regulators probably don't have tools to address.

Wallstreet does it all time at their private meetings in the Hampton’s.

Re: GameStop Is Rage Against the Financial Machine

#773

Post by isatty »

I'm honestly dissapointed by the amount of wall street bootlickers over here on HN. You of all people should know that unlike in the past, information is freely available. Hedge funds have some amazing smart people who can think so hard they float, but they're limited.

Re: GameStop Is Rage Against the Financial Machine

#774

Post by ganoushoreilly »

ww520 wrote: post #745
gpm wrote: post #682

Earlier quoted context omitted.

> Hedge-fund cries foul. Doesn't like being beaten in it's own game. Have any of the hedge funds actually cried foul?

CNN just had someone talking about the government should ban people talking about the stock market on the internet. edit: Here's the link in case people want to see it. Ignore the article about Trump (really weird to blame Trump in this case), but watch the video. https://edition.cnn.com/2021/01/27/politics/gamestop-stock-s...

They also have had a few stories about how this is "Trumpism". They're desperate for eyes. It think it's great and the fact that discord dropped the WSB channel because of bad users (which could easily have been infiltrated users) falls right into the same issues we were having a couple weeks back.

All of this makes it clear that people are frustrated and upset. My only concern is people that can't take the squeeze jumping in on the train and losing in the end.

Re: GameStop Is Rage Against the Financial Machine

#775

Post by DataSceince123 »

This short squeeze is tightly correlated with online anti-semitism, as hateful individuals see this as an opportunity to stick it to wallstreet, where the hedge fund and banking industry are highly over represented with the jewish community. If you dont believe me go look on 4chan, these forums need to be shut down immediately to stop this hate and market manipulation

Re: GameStop Is Rage Against the Financial Machine

#776

Post by [deleted] »

__turbobrew__ wrote: post #505
jowsie wrote: post #426

Earlier quoted context omitted.

You sure about that? https://www.reddit.com/r/stocks/comments/l64xvw/gme_dedicate...

What is stopping Melvin Capital from lying about closing their position in order to deflate the stock price so they can actually close out their short position when they are due this coming Friday?

[deleted]

Re: GameStop Is Rage Against the Financial Machine

#777

Post by anonymouse008 »

dcolkitt wrote: post #735
garmaine wrote: post #731

Earlier quoted context omitted.

But once borrowed, the shares can’t be borrowed a second time. So if 100 shares are borrowed and sold short, they’re back on the market, yes. But the total number of shares available is 100, not 200.

That's not true. The same share can be borrowed an arbitrary amount of times. Palm reached short interest of nearly 150% during its heyday. By definition that would require float to be borrowed a second time. https://money.stackexchange.com/questions/126685/can-a-singl...

So this one is wrong?

https://money.stackexchange.com/questions/98418/does-short-s...

Re: GameStop Is Rage Against the Financial Machine

#778

Post by js2 »

omginternets wrote: post #757
noncoml wrote: post #654

There are 100 cows. A hedge-fund believes that the milk consumption will go to zero, so they borrow the 100 cows for one month and sell them for $1 each. Then they borrow them again, and sell them once more for 90c. Certain that they will worth $0 at the end of the month A Redditor notices this. She knows that in a month's time, the hedge-fund will have to buy 200 cows, and there are only 100 available. Her plan is s…

What does it mean to "borrow" a cow?

https://www.investopedia.com/terms/s/shortsale.asp

Re: GameStop Is Rage Against the Financial Machine

#779

Post by DataSceince123 »

wolverine876 wrote: post #629

How does this differ from other populist manipulation via social media? We've seen this technique used repeatedly in many domains. IMHO, it looks obviously the same in many ways. It's very effective and we should have anticipated that it would be used to move markets. I expect people on HN to recognize it. The question is, what will we do about it? It's tearing society apart and now it looks to damage our economy too…

we must shut down these practices and online forums where hate speech and anti semitic conspiracy theories circulate. This short squeeze is just another sad attempt to hurt the jewish community - referring to 4chan.
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