Economics Thread

striker42 said:
I have $100 in Gamestop right now. More to just be a part of the movement against the hedge funds. Fight back against them rigging the system. I'm not comfortable putting real money in that high risk.
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I put $5k in NOK this morning purely as a middle finger.

So far so good... I got in around $5.60. Will plan to exited around $10. The momentum should get us there but if not, its money I'm willing to lose
 
striker42 said:
I have $100 in Gamestop right now. More to just be a part of the movement against the hedge funds. Fight back against them rigging the system. I'm not comfortable putting real money in that high risk.
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you have to realize that to get the kinds of moves we've seen either an enormous number people have taken long positions or some people have put down a lot more than $100

i think there are quite a few of the latter and things are not going to end well for most of them

but hey i thank everyone for helping me see the hedge funds get bloodied...i'm not a fan of the business model...they are basically a bunch of parasites and vampires

i've dabbled in options on and off over the years...but i only play in one market that i know a lot about
 
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Yup. And the useful media will blame it on trump and hate somehow.

And idiots on this board will echo those thoughts as they breathe through their third mask

[Tw]1354620347325296647[/tw]
 
sturg33 said:
Yup. And the useful media will blame it on trump and hate somehow.

And idiots on this board will echo those thoughts as they breathe through their third mask

[Tw]1354620347325296647[/tw]
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justin is right...no one wants to be exposed to competition...we all want markets that are rigged in our favor
 
nsacpi said:
you have to realize that to get the kinds of moves we've seen either an enormous number people have taken long positions or some people have put down a lot more than $100

i think there are quite a few of the latter and things are not going to end well for most of them

but hey i thank everyone for helping me see the hedge funds get bloodied...i'm not a fan of the business model...they are basically a bunch of parasites and vampires

i've dabbled in options on and off over the years...but i only play in one market that i know a lot about
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That last point is why I'm not risking real money on this. I have no idea how this plays out. Some will get rich but others no doubt will be left holding the bag. So I'm just using have fun money.
 
striker42 said:
I don't have the numbers either. I think there were more professional day traders then. I would think there are more people dabbling now with apps on phones.
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Transaction free investing changed the game. Free trades plus Dave Portnoy brought a lot of people into online trading.
 
Robinhood and Reddit are the top apps on the iPhone. There’s going to be a lot of people making stupid decisions with money, that they shouldn’t be wasting on stocks tomorrow and next week. A lot of people that don’t understand the stock market are getting to caught holding a $10 stock before to long.
 
Krgrecw said:
Robinhood and Reddit are the top apps on the iPhone. There’s going to be a lot of people making stupid decisions with money, that they shouldn’t be wasting on stocks tomorrow and next week. A lot of people that don’t understand the stock market are getting to caught holding a $10 stock before to long.
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Buy and keep holding like Steve Carrell did in The Big Short. Make them bleed.
 
Krgrecw said:
Robinhood and Reddit are the top apps on the iPhone. There’s going to be a lot of people making stupid decisions with money, that they shouldn’t be wasting on stocks tomorrow and next week. A lot of people that don’t understand the stock market are getting to caught holding a $10 stock before to long.
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it's so weird to see people get pissed off at the little guys for beating the big guys and their bull**** they pull
 
Tapate50 said:
I mean really only the big guys are getting upset at this.

The rest of the world loves it
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The pension funds and others who gave the hedge funds their money to invest are probably not too happy. Those "big guys" are playing with other people's money for the most part.

Having said that if there is a group of people experiencing some sort of emotional catharsis from all this, I'm more than happy to see this be their outlet rather than other activities such as trying to find Mike Pence so they lynch him.
 
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nsacpi said:
The pension funds and others who gave the hedge funds their money to invest are probably not too happy. Those "big guys" are playing with other people's money for the most part.

Having said that if there is a group of people experiencing some sort of emotional catharsis from all this, I'm more than happy to see this be their outlet rather than other activities such as trying to find Mike Pence so they lynch him.
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Oh. This is Red/Blue for you.

Kinda sad.
 
Tapate50 said:
Oh. This is Red/Blue for you.

Kinda sad.
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It is a form of populism. Which has both right and left wing variants. But it definitely has a political aspect to it. You would have to be tone deaf to miss it. I have no rooting interest in favor of hedge funds. I've made clear that I view them as a parasitic class.
 
Elizabeth Warren is calling for SEC intervention into the GameStop trading. That disappoints me. I guess it shows that it doesn't matter what side of the aisle you're on, big money will buy you just the same.
 
striker42 said:
Elizabeth Warren is calling for SEC intervention into the GameStop trading. That disappoints me. I guess it shows that it doesn't matter what side of the aisle you're on, big money will buy you just the same.
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There are laws and regulations within the SEC's ambit concerning various forms of market manipulation. Just sayin. If I were to go to a discussion board and engage in a pump and dump operation about a particular company, I would expect a phone call or knock on my door from the authorities.
 
Btw this whole kerfuffle (today's word of the day) is an example of one of the great changes wrought by social media and associated communications technology. They allow coordination of previously powerless people on a vast scale. From flash mobs to revolutions. We have only seen the tip of the iceberg.

In the world of finance though there is something called fundamentals (or funnymentals as I like to call them). Bubbles will bubble for a time, but everything ultimately reverts back to valuation as determined by fundamentals.

In the short term, maybe flash mob > fundamentals.

In the long run, fundamentals prevail.

Hope y'all are listening. Fundamentals are not sexy and require work to master. But only fools ignore them.
 
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