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Gamestop - 1/29/2021 1:29:13 PM   
MrsWargamer


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Hmm, I think 'Hedgefund' will soon be termed 'suicide level investing'. Sort of like suicide level in games.

I bet there are some very happy gamers out there today. I wonder if any are wargamers?

They out gamed the Wallstreet boys.

They likely will change the 'rules' and no doubt the blood is still in the water. Gamers have realized how easy it can be to make money. And gamers spend all-day gaming. They are used to searching for exploits.

I have no mercy for the rich getting played :) Lots of dudes out there lost their shirts on this one.

It's nice that the news was about something new and interesting for a change :)

_____________________________

Wargame, 05% of the time.
Play with Barbies 05% of the time.
Play with Legos 10% of the time.
Build models 20% of the time
Shopping 60% of the time.
Exlains why I buy em more than I play em.
Post #: 1
RE: Gamestop - 1/29/2021 2:12:45 PM   
Orm


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Didn't they already change the rules so they couldn't win?

This thread might be close to what is forbidden here, so please consider your response and modify it so that this thread does not get locked.

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Post #: 2
RE: Gamestop - 1/29/2021 2:23:06 PM   
Aurelian

 

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https://www.nbcnews.com/business/markets/sec-vows-protect-retail-investors-amid-gamestop-frenzy-n1256146

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Post #: 3
RE: Gamestop - 1/29/2021 2:52:52 PM   
MrRoadrunner


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A person works all their life to create something that no one else has done, and you are happy they get to lose it?

Just class envy,IMO.
Would you be just as happy if it happens to Facebook, Twitter, and Youtube?



RR

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“The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.”
― Marcus Aurelius, Meditations

(in reply to Aurelian)
Post #: 4
RE: Gamestop - 1/29/2021 3:00:50 PM   
rico21


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RobinHood

(in reply to MrRoadrunner)
Post #: 5
RE: Gamestop - 1/29/2021 3:32:24 PM   
MrsWargamer


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It's mostly about some schmucks, who have nearly ruined some of the rich crowd.

The stocks are all worthless stocks. And the rich have been doing the rich thing. And then some upstarts discovered "hey if I do this, suddenly this happens" And poof a lot of rich people wake up to find they ain't rich.

So the rules get rapidly changed. Because the last thing the rich want is to be made into the poor :)

This happened mainly due to social media, making it easy for a bunch of poor schmucks being able to effectively swarm the rich.

There's no religion or politics here. This is Wallstreet being out gamed on social media. I could have done this. You could have done this. We could have done this. It's the same as the Bitcoin incident. I missed out. It was just a news event.

My idea of a big score is finding a source of models online, that has a great selection, great prices and simple shipping.

This is like showing up at the grocery store, you have cash the same day all your needs are on sale :)

This is like having cash the day all the games on Matrix Games go on sale :) Like deciding to finally go all-in with Order of Battle, and you find they are all on sale and you think, wow, that's timing :)

And to answer the question. No, I don't care if some wealthy schmucks get to see how I live. Not at all :)

_____________________________

Wargame, 05% of the time.
Play with Barbies 05% of the time.
Play with Legos 10% of the time.
Build models 20% of the time
Shopping 60% of the time.
Exlains why I buy em more than I play em.

(in reply to rico21)
Post #: 6
RE: Gamestop - 1/29/2021 4:10:24 PM   
RangerJoe


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So, either you are upset because you lost money or you are upset because you did not get in on this?

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Post #: 7
RE: Gamestop - 1/29/2021 4:59:44 PM   
RFalvo69


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quote:

ORIGINAL: RangerJoe

So, either you are upset because you lost money or you are upset because you did not get in on this?

Personally, I'm upset by how an App (RobinHood) blocked the common investor for doing things that are allowed since forever to big Hedge Funds/Rich People/Uncle Scrooge. They basically screamed YES, THE SYSTEM IS RIGGED!!!! to the amazed crowd of us bystanders (and to the common investors... ). "Everybody can operate in the market in a fair way" went down the drain in a blink. Astounding. This is a story that I will follow - and, BTW, another symptom of "changing times" via the internet.

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"Oh dad... so you were a God-damned cook?"

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Post #: 8
RE: Gamestop - 1/29/2021 5:29:15 PM   
MrRoadrunner


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And, in the end, someone else has to pay the price for trickery?

RR

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― Marcus Aurelius, Meditations

(in reply to RFalvo69)
Post #: 9
RE: Gamestop - 1/29/2021 5:36:57 PM   
RangerJoe


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The first rule of investing like this is to only invest money that you can afford to lose.

Anyone, yes anyone, with modern technology can set this system up for any company and if they don't have enough assets, they can get other people to join in. Then they can either put out positive or negative information, whether or not it is true, then reap the proceeds. If there is no actual link to them about any profits, then what happens?

BTW, someone made a killing doing things like this in the foreign currency markets, playing the system.

_____________________________

Seek peace but keep your gun handy.

I'm not a complete idiot, some parts are missing!

“Illegitemus non carborundum est (“Don’t let the bastards grind you down”).”
― Julia Child


(in reply to MrRoadrunner)
Post #: 10
RE: Gamestop - 1/29/2021 5:40:32 PM   
RFalvo69


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quote:

ORIGINAL: MrRoadrunner

And, in the end, someone else has to pay the price for trickery?

RR

You pay your money and you choose your number. Reddit is exploring the unknown. They can end up like Ross in the Antarctic or Franklin in the Arctic. The difference is that no one ever told to Ross: "Hey, you are succeeding! I'll take away your sails!"

< Message edited by RFalvo69 -- 1/29/2021 5:41:15 PM >


_____________________________

"Yes darling, I served in the Navy for eight years. I was a cook..."
"Oh dad... so you were a God-damned cook?"

(My 10 years old daughter after watching "The Hunt for Red October")

(in reply to MrRoadrunner)
Post #: 11
RE: Gamestop - 1/29/2021 6:00:12 PM   
MrRoadrunner


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I guess there must be magic money?

I know what it cost me in 2008. Someone always pays?

RR

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“The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane.”
― Marcus Aurelius, Meditations

(in reply to RFalvo69)
Post #: 12
RE: Gamestop - 1/29/2021 6:27:28 PM   
TulliusDetritus


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quote:

ORIGINAL: RFalvo69
"Everybody can operate in the market in a fair way" went down the drain in a blink. Astounding.


The masks are falling, that's all. And some powerful guys lost a lot of money money money *ouch* that has to hurt.

Cry-babies 🤣🤣🤣





Attachment (1)

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a nu cheeki breeki iv damke

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Post #: 13
RE: Gamestop - 1/29/2021 6:43:46 PM   
RFalvo69


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From: Lamezia Terme (Italy)
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quote:

ORIGINAL: MrRoadrunner

I guess there must be magic money?

I know what it cost me in 2008. Someone always pays?

RR

There is always "magic money".

Let's say that I open a new company: "Falvo Restaurants". You want to buy a share. You pay me $10 and you get a document attesting that you own a share.

And right here the confusion already starts: amazingly enough, thanks (I guess) to how the brain works, people will start to think that there are $20 floating around: the $10 I now have in my pocket and your $10 share. This is not true: the only money around is the original $10 you gave me. The rest is "faith": a measure of the faith you have in your investment.

This is why I always get angry when I see titles like "A bubble popped! The market just lost $15 billions!!" The market loses nothing. Money doesn't go away. What is lost is the belief that a certain area of the market was worth $15 billions - and now a lot of people are in dire straits because they (or their investments companies) behaved like if those $15 billions were real money. They actually were your magic money.

Today's economy is so complex that some say that no one can real explain all the intricacies (something that became painfully obvious during the 2008 crack). But the fundamentals are amazingly simple. In the 2000s a lot of people said "Hey, I got an idea! Let's lend money to people who, quite possibly, will not be able to repay it back! And let's build on this novel idea one of the most complex market models in human history!" What could possibly go wrong?

_____________________________

"Yes darling, I served in the Navy for eight years. I was a cook..."
"Oh dad... so you were a God-damned cook?"

(My 10 years old daughter after watching "The Hunt for Red October")

(in reply to MrRoadrunner)
Post #: 14
RE: Gamestop - 1/29/2021 6:59:47 PM   
RangerJoe


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From: My Mother, although my Father had some small part.
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Paper profits are not real until they are realized by selling said investments.

_____________________________

Seek peace but keep your gun handy.

I'm not a complete idiot, some parts are missing!

“Illegitemus non carborundum est (“Don’t let the bastards grind you down”).”
― Julia Child


(in reply to RFalvo69)
Post #: 15
RE: Gamestop - 1/29/2021 7:03:32 PM   
MrRoadrunner


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Yup!

RR

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― Marcus Aurelius, Meditations

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Post #: 16
RE: Gamestop - 1/29/2021 7:09:50 PM   
RFalvo69


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quote:

ORIGINAL: RangerJoe

Paper profits are not real until they are realized by selling said investments.

Exactly. And, BTW, you must hope to find a buyer.

_____________________________

"Yes darling, I served in the Navy for eight years. I was a cook..."
"Oh dad... so you were a God-damned cook?"

(My 10 years old daughter after watching "The Hunt for Red October")

(in reply to RangerJoe)
Post #: 17
RE: Gamestop - 1/29/2021 7:17:47 PM   
MrsWargamer


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quote:

ORIGINAL: RangerJoe

So, either you are upset because you lost money or you are upset because you did not get in on this?


Nah.

I've spent most of the afternoon not succeeding in buying anything. Either I already have it, or, the online store doesn't want to let me use my debit card to give them actual money. I really wanted that model, but nope, at the last second, the transaction failed. Only a complete idiot gives me a 'credit' card. And no, I'm not a fan of Paypal. They take forever to process the transaction. I'm used to click the mouse, poof money changes hands right then and there. Not several days later at random.

_____________________________

Wargame, 05% of the time.
Play with Barbies 05% of the time.
Play with Legos 10% of the time.
Build models 20% of the time
Shopping 60% of the time.
Exlains why I buy em more than I play em.

(in reply to RangerJoe)
Post #: 18
RE: Gamestop - 1/29/2021 7:29:13 PM   
RFalvo69


Posts: 1276
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From: Lamezia Terme (Italy)
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quote:

ORIGINAL: MrsWargamer
And no, I'm not a fan of Paypal. They take forever to process the transaction. I'm used to click the mouse, poof money changes hands right then and there. Not several days later at random.


I use PayPal daily and the transaction is always immediate.

_____________________________

"Yes darling, I served in the Navy for eight years. I was a cook..."
"Oh dad... so you were a God-damned cook?"

(My 10 years old daughter after watching "The Hunt for Red October")

(in reply to MrsWargamer)
Post #: 19
RE: Gamestop - 1/29/2021 8:26:43 PM   
wodin


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quote:

ORIGINAL: RFalvo69


quote:

ORIGINAL: MrsWargamer
And no, I'm not a fan of Paypal. They take forever to process the transaction. I'm used to click the mouse, poof money changes hands right then and there. Not several days later at random.


I use PayPal daily and the transaction is always immediate.



Me too.

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Post #: 20
RE: Gamestop - 1/29/2021 9:29:58 PM   
bayonetbrant

 

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The hedge fund made a massive bet on a stock value going down, which is essentially a bet on a company to fail

Gamers got wind of the fact that it was one of the "their" companies and decided to take matters into their own hands, and self-organize to hammer the hedge fund for shorting Gamestop stock, at least partially to "stick it to the man" and also because they felt like a bunch of hedge fund robber barons who bring literally -zero- value to the investment world (shorting stocks is all about making money for your investor and not at all about trying to improve a company's long-term health or prospects) were screwing with a place they all had deep personal connections to.


Gamers *VERY* quickly figured out the rules of the game, kicked the hedge fund's ass at it, and caused a multi-billion dollar hedge fund (that makes their living on betting that companies will fail) to go bankrupt.

Those hedge fund twats are in the singular business of generating paper wealth for their investors on the backs of someone else's suffering, so no, they don't get a pass on this one, and yes, they do get to suck long and hard, just like Connery told Trebek on Celebrity Jeopardy.


They created a game that should've never existed (betting on failure) and they lost their shirts a million times over. Now they're whining that someone better at their game beat them. Too bad.


If nothing else, perhaps this entire exercise will have been worth it if only to get rid of the idea of short-selling.

(in reply to wodin)
Post #: 21
RE: Gamestop - 1/29/2021 9:37:38 PM   
warspite1


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quote:

ORIGINAL: bayonetbrant

If nothing else, perhaps this entire exercise will have been worth it if only to get rid of the idea of short-selling.
warspite1

Mmmm... can I get a credit default swap on a collateralised debt obligation with that?


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Post #: 22
RE: Gamestop - 1/29/2021 9:40:59 PM   
Grognerd_INC


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quote:

ORIGINAL: bayonetbrant

The hedge fund made a massive bet on a stock value going down, which is essentially a bet on a company to fail

Gamers got wind of the fact that it was one of the "their" companies and decided to take matters into their own hands, and self-organize to hammer the hedge fund for shorting Gamestop stock, at least partially to "stick it to the man" and also because they felt like a bunch of hedge fund robber barons who bring literally -zero- value to the investment world (shorting stocks is all about making money for your investor and not at all about trying to improve a company's long-term health or prospects) were screwing with a place they all had deep personal connections to.


Gamers *VERY* quickly figured out the rules of the game, kicked the hedge fund's ass at it, and caused a multi-billion dollar hedge fund (that makes their living on betting that companies will fail) to go bankrupt.

Those hedge fund twats are in the singular business of generating paper wealth for their investors on the backs of someone else's suffering, so no, they don't get a pass on this one, and yes, they do get to suck long and hard, just like Connery told Trebek on Celebrity Jeopardy.


They created a game that should've never existed (betting on failure) and they lost their shirts a million times over. Now they're whining that someone better at their game beat them. Too bad.


If nothing else, perhaps this entire exercise will have been worth it if only to get rid of the idea of short-selling.

+1

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Post #: 23
RE: Gamestop - 1/29/2021 10:12:26 PM   
bomccarthy


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From: L.A.
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Robinhood didn't change the rules to protect Wall Street; brokerages must have enough cash reserves on hand to pay their customers who are owed money on trades and post additional cash to its clearing facility to protect its trading partners from potential losses. These rules have been in place since at least the 1930s. Yesterday afternoon (Thursday), Robinhood had to draw on a line of credit from six banks, borrowing more than $500M to meet margin requirements from its central clearing facility. In addition, last night it had to raise more than $1B in additional investment from its own shareholders to cover further trading today (its shareholders include the private equity firms Sequoia Capital and Ribbit Capital). As a result, Robinhood was able to ease the trading restrictions this afternoon on Gamestop and several other companies nearing death's door.

Considering that the Reddit traders were piling into companies like Nokia, one business commentator opined that next week's hot stocks would include Pan American Airways and Studebaker.

(in reply to MrsWargamer)
Post #: 24
RE: Gamestop - 1/29/2021 11:10:02 PM   
Lobster


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So it's okay to pull down the entire planets economy to the brink of a great depression but it's not okay for some kids to play the market in a risky way. Got it.

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Post #: 25
RE: Gamestop - 1/29/2021 11:34:09 PM   
RangerJoe


Posts: 12608
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From: My Mother, although my Father had some small part.
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quote:

ORIGINAL: Lobster

So it's okay to pull down the entire planets economy to the brink of a great depression but it's not okay for some kids to play the market in a risky way. Got it.


I don't see how this could bring the entire planet's economy to the brink of a great depression and it is not illegal to play the market in a risky way.

Did you know that there were people from the United States of America invading Big Canada Land in the hopes of starting a WAR and they were not prosecuted for it? You see, they broke no laws.

_____________________________

Seek peace but keep your gun handy.

I'm not a complete idiot, some parts are missing!

“Illegitemus non carborundum est (“Don’t let the bastards grind you down”).”
― Julia Child


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Post #: 26
RE: Gamestop - 1/30/2021 12:25:59 AM   
Lobster


Posts: 4908
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From: Third rock from the Sun.
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quote:

ORIGINAL: RangerJoe


quote:

ORIGINAL: Lobster

So it's okay to pull down the entire planets economy to the brink of a great depression but it's not okay for some kids to play the market in a risky way. Got it.


I don't see how this could bring the entire planet's economy to the brink of a great depression and it is not illegal to play the market in a risky way.

Did you know that there were people from the United States of America invading Big Canada Land in the hopes of starting a WAR and they were not prosecuted for it? You see, they broke no laws.


OMG...I didn't say it would.
And what the heck are you talking about? Canada, invasion, war? I thought we were talking about the stock market and investors!!

< Message edited by Lobster -- 1/30/2021 12:29:08 AM >


_____________________________

http://www.operationbarbarossa.net/

"There are more things in Heaven and Earth, Horatio, than are dreamt of in your philosophy."

Wearing blinders and earplugs everything you do is correct.

(in reply to RangerJoe)
Post #: 27
RE: Gamestop - 1/30/2021 12:38:49 AM   
RangerJoe


Posts: 12608
Joined: 11/16/2015
From: My Mother, although my Father had some small part.
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quote:

ORIGINAL: Lobster

quote:

ORIGINAL: RangerJoe


quote:

ORIGINAL: Lobster

So it's okay to pull down the entire planets economy to the brink of a great depression but it's not okay for some kids to play the market in a risky way. Got it.


I don't see how this could bring the entire planet's economy to the brink of a great depression and it is not illegal to play the market in a risky way.

Did you know that there were people from the United States of America invading Big Canada Land in the hopes of starting a WAR and they were not prosecuted for it? You see, they broke no laws.


OMG...I didn't say it would.
And what the heck are you talking about? Canada, invasion, war? I thought we were talking about the stock market and investors!!


Well, you are referring to playing the market in a risky way that could affect the entire world economy so how about a war with the United Kingdom and the United States in the later 1860s right after having many American men trained in military matters who are also highly experienced?

_____________________________

Seek peace but keep your gun handy.

I'm not a complete idiot, some parts are missing!

“Illegitemus non carborundum est (“Don’t let the bastards grind you down”).”
― Julia Child


(in reply to Lobster)
Post #: 28
RE: Gamestop - 1/30/2021 5:33:06 AM   
Pvt_Grunt

 

Posts: 319
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quote:

ORIGINAL: warspite1


quote:

ORIGINAL: bayonetbrant

If nothing else, perhaps this entire exercise will have been worth it if only to get rid of the idea of short-selling.
warspite1

Mmmm... can I get a credit default swap on a collateralised debt obligation with that?


I might agree if I knew what the hell you are saying

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Post #: 29
RE: Gamestop - 1/30/2021 6:58:27 AM   
warspite1


Posts: 44998
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From: England
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quote:

ORIGINAL: Pvt_Grunt


quote:

ORIGINAL: warspite1


quote:

ORIGINAL: bayonetbrant

If nothing else, perhaps this entire exercise will have been worth it if only to get rid of the idea of short-selling.
warspite1

Mmmm... can I get a credit default swap on a collateralised debt obligation with that?


I might agree if I knew what the hell you are saying
warspite1

The problem was that in 2008 many of those dealing in such exotic nonsense (or in charge of those who did) didn't know either......


_____________________________

England expects that every man will do his duty. Horatio Nelson October 1805



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Post #: 30
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