Business, Economics, and Taxes: Capitalism. Yay? >=(

[Kepler]

That’s my take. I think a lot of them will hold.

that’s why I asked if there’s a way for them to get screwed over, but for the ones who bought in for way less than current price, it’s probably not terrible

I assume the stock eventually goes back to its tangible value which I've read is about $35. That means anybody who bought with an average cost over that will lose. Happily their losses are finite, unlike the shorters who theoretically could be busted.

Now, the rich will cheat. They have already to the tune of billions, and that was just when there was a threat. When the actuality strikes they will simply change the rules. That's what you can do when you are the gubmint and make no mistake, the rich are the gubmint. Our so-called franchise and rights are a veneer. We are permitted our interests when it coincides with theirs, otherwise, no.

When the people who get screwed and/or ruined protest non-violently, they will be vilified. If they protest violently, they will be imprisoned or killed.

That's the way it's been done since Sumeria in 4000 BC and nothing has changed down at that level. Underneath everything there is a whip.

Fig. 1 Economics

 

[Handyman]

It actually is why some of them are holding, now. A lot of them really mean it that they don't care if they lose all their paper profits if it means some ex-billionaire slits his own throat as his trophy wife packs her bags.

Some of them are just speculators with balls of cast iron.

These guys aren't freedom fighters...they are greedy pricks just like everyone else. They can be just as harmful to you and me as they can be to the Hedges and don't be surprised if one day they are. Right now it is "The Enemy of My Enemy is My Friend" but let's not make these guys out to be (ironically) Robin Hood here. Some are, but I don't think it is as high as you seem to believe it is.

Most of these guys aren't risking anything at this point by holding. They bought it low enough that it would take a very steep drop for it to hurt them. (they would start cashing out long before that) Anyone who bought over $100 though (if Kep is right about $35) needs to watch what happens the next few days. The ones who bought close to $300 are the ones who are willing to burn the money just to watch the Hedges sweat so they don't care. (and likely have the money to burn...unless they are the bottom of the pyramid then they are screwed) Holding makes the most sense for all of them right now because financially it is working AND it is ticking off the Shorters. It is a win/win. Hell if Elon Musk tweets about it again some time today it could jump huge again tomorrow. This is such a volatile stock tomorrow it could be anywhere between $100 and $700 and I wouldn't be all that surprised. With that kind of craziness might as well be in it to win it you passed the major test middle of last week.

I will give them a ton of credit on their hold because the press bought into the BS the market was telling them about all the shorters getting out. That is taking a chance I am not sure a lot of people are willing to try. If the reports were correct the stock would crap out and a lot of people lose a lot of money. By calling the bluff and sticking it out they played a billion dollar game of chicken and got Wall Street and their PR clowns at CNBC and the like to blink. That isnt just cast iron balls that is titanium balls.

 

[rufus]

Although there are also another dozen or so stocks they are trying to short squeeze too (Nokia, Blackberry, AMC, Bed Bath & Beyond, Koss, etc).

But I don't think anybody else had shorted > 100% of the existing shares of the stock, which sounds like it ought to be, what's the word I'm looking for?

"Typical day on Wall Street"?

 

[rufus]

Or, conversely, hedge funds destroy 3.7 trillion in market cap by over leveraging themselves and having to cover risky bets that lost to a group of internet rubes by selling other positions.

It's basically what they did that destroyed the entire global economy in 2008, just with different investment vehicles. Playing the stock market like it's a casino.

 

[Jimjamesak]

I assume the stock eventually goes back to its tangible value which I've read is about $35. That means anybody who bought with an average cost over that will lose. Happily their losses are finite, unlike the shorters who theoretically could be busted.

Now, the rich will cheat. They have already to the tune of billions, and that was just when there was a threat. When the actuality strikes they will simply change the rules. That's what you can do when you are the gubmint and make no mistake, the rich are the gubmint. Our so-called franchise and rights are a veneer. We are permitted our interests when it coincides with theirs, otherwise, no.

When the people who get screwed and/or ruined protest non-violently, they will be vilified. If they protest violently, they will be imprisoned or killed.

That's the way it's been done since Sumeria in 4000 BC and nothing has changed down at that level. Underneath everything there is a whip.

Fig. 1 Economics

If the government was going to do something they would’ve done it already. Politicians want only to be re-elected, and even Ted Cruz can see that getting involved in this is a guaranteed ticket to a loss.

Interestingly, the Capitol Riot being fresh in Congress’ minds may well the biggest thing to stop any involvement. Threats of “if you do that, we will take you down” suddenly don’t seem so empty.

 

[aparch]

It's basically what they did that destroyed the entire global economy in 2008, just with different investment vehicles. Playing the stock market like it's a casino.

And then mad when someone does the *exact* same thing to them.

 

[Kepler]

I don't have a penny in this (because I took a math class once) but you are all in my thoughts. Whatever Mohs hardness I have I lend to your hands.

Note: RH and others intend to continue throttling buys. Supposedly Fidelity will let you rock out with your cock out if you want.

Not financial advice. Entertainment only. I'm so retarded I'm an honorary flyover.

 

[Handyman]

I should have bought AMC last week just for the lulz...nothing crazy just enough to watch and feel the rush.

 

[Kepler]

If this man tells me to buy something someday, I might just.

I have a Fidelity account. I have never placed a trade in my life.

 

[Deutsche Gopher Fan]

I do everything in fidelity already, as it so happens

im game, what should I buy and hold

 

[dxmnkd316]

Vtsmx

 

[Kepler]

Vtsmx

Why not just GME and AMC outright?

 

[LynahFan]

Vtsmx

Lol.

That's like telling a guy headed to Vegas to be sure to check out the Natural History Museum. Sure, it's a better use of your time than gambling, hookers, and blow, but boring as hell.

Anyone buying in now is looking for entertainment, not ROI.

 

[dxmnkd316]

Why not just GME and AMC outright?

Find me a fund that does better, for less, that’s open to new investors.

I’ve sold shares of anything once in my life. Outside of MCD, everything else is just playing catch-up. Actually, I’m also in a small fund that kicks off some pretty wicked dividend yields too. But it’s not even publicly advertised anymore so lol. The first money I ever had in the market. My dad opened a Roth IRA when I was 12 or 13 and said whatever I made as a soccer ref that summer he would match and put in the IRA. I made $3,000 that summer. He was both proud and supremely pizzed. Lol. I think that original $3k is up to like $15k now.

Anyways. VTSAX has been the Diesel engine that will power my retirement comfortably. Great yields, almost free. Here’s the thing with stocks. I’m not willing to invest enough in STONKS to make any kind of money in a short period. Yeah, $500 would be fun to turn into $5k, but I’m not going to be able to keep track of all of these stupid fads.

 

[Kepler]

Find me a fund that does better, for less, that’s open to new investors.

The point of this exercise is to blow a couple hundred bucks to help the Rebel Alliance hold off the Imperial Battlecruiser for a few more days until the Death Star arrives and blows them all to smithereens.

I'm sure DGF knows if you want a solid investment park your money in an index fund because playing the market is playing the lottery with larger amounts of money: a tax on the innumerate.

 

[Kepler]

To add to the fun, NYC is expected to get up to 18 inches Monday.

Cue WSB jokes about your wife's boyfriend.

 

[dxmnkd316]

Fair enough.

 

[Kepler]

Republican advice.

 

[Kepler]

From wsb. Maybe the equivalent of Joseph Kennedy's shoe shine boy.

UK’s most popular trading app, Trading212, is expected to have 1% of UK’s total population trading GME today at market open.

 

[Kepler]

Scrolling wsb has become my favorite entertainment. From minutes before the open:

Me : Im holding no need to watch the price fluctuate

Also me : (dozens of scared eyes emoticons)

You apes wanted to live forever?

O-RINGS AT OPTIMAL TEMPERATURE

See you on the beach!

And my favorite:
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This is not financial advice. I am a turtle.