I can imagine a new hollywood movie coming out later this year. The plot would be: "How a bunch of nerd gamers almost crashed the world economy. Thanks to a misteryous call, the infamous robinhood platform prevented the massive short squeeze and saved the Wall Street brokers from bancruptcy. This will be a lesson for all shorters for the times to come.."
The movie should be called "The Big Long". Would make a nice bookend to that other movie, lol.
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Proof that Andrew Left has always been a career-long dirtbag. He actually admits it now. Fuck that guy, he got what he deserved. https://www.cnbc.com/2021/01/29/citron-research-short-seller-caught-up-in-gamestop-squeeze-pivoting-to-finding-long-opportunities.html"20 years ago I started Citron with the intention of protecting the individual against Wall Street, against the frauds and the stock promotions were just all over,” Left said in a YouTube video on Friday. “Where we started Citron was supposed to be against the establishment, we’ve actually become the establishment.”
“So as of today, Citron Research will no longer be publishing what can be considered as short selling reports,” Left added. Left said the firm will now focus on long opportunities for investors.
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1. Shitcoin shills, fuck off this WO thread. 2. This.
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Well how about them apples....looks like Citadel's funds are safu
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Is it wrong I am now FOMOing silver?
It won't work for silver though. The r/wallstreetbets tribe shouldn't even try, 'cause they'll get their butts handed to them. All the bullion banks are in bed together, and have been colluding for decades now. They got infinite, naked shorting power against the PMs. Buy PMs because you like them and as a hedge.
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Can these billionaires learn to shut the fuck up about Bitcoin until they actually sit down and learn something about it? This is why the public thinks they are complete idiots, and why no one should care what they think. and then literally on Jan 28, 2021What I Think of Bitcoin https://www.bridgewater.com/research-and-insights/ray-dalio-what-i-think-of-bitcoin"Overall, it’s clear that Bitcoin has features that could make it an attractive storehold of wealth; it also has proven resilient so far. However, we have to acknowledge that this financial vehicle is only a decade old. In absolute terms and vis-a-vis established storeholds of wealth such as gold, how will this digital asset fare going forward? Future challenges may still come from quantum computing, regulatory backlash, or issues we haven’t even determined yet. Even if none of these materialize, Bitcoin, for now, feels more to us like an option on a potential storehold of wealth."
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What fun. /r/wallstreetbets are sorta like us, just A LOT zanier. And way more degenerate.
The Streisand effect?
The things one learns in WO... Thanks guys! Not interested in buying GME, but it's so interesting to see the drama unfold. Are we all plugged into a Matrix universe? Have we all taken the BLUE pill? More importantly, is Bitcoin the RED pill? One choice is much easier than the other... the r/wallstreetbets tribe just hasn't realized it yet.
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The Streisand effect? Lol
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NYSE closed GME trading? That didn't age well. Stockfuckheads trying to scam Wallstreetbets. Why does Bloomberg and Google show GME at $132 and $208 suddenly now? Just a few hours ago it was ~$380-400...what happened? Just curious It's called a sell-off. You think stonks only go up? Esp without a 'buy' button? Lol
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I saw this comment on a r/wallstreetbets thread, and I just had to laugh. "WE CAN STAY RETARDED, LONGER THAN YOU CAN STAY SOLVENT!!"
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This is complete and utter bullshit. Robinhood bars users from buying GameStop stock, infuriating its usershttps://finance.yahoo.com/news/robinhood-bars-users-from-buying-game-stop-stock-infuriating-its-users-144007484.htmlI guess free markets aren't really free then? The name "Robinhood" is mis-named... they take from the poor and give to the rich assholes. Without government intervention, this one Gamestop stock could topple the world economy. The losses are unlimited since there aren't enough shares in existence to cover the short and most of the people holding the shares aren't selling anyway. The shorts are actually increasing now as the price goes higher.
If the government does step in, it will just add fuel to the fire for the next stock they target (or silver).
They probably just did.
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However, I think there might be legitimate reasons for limiting margin (leveraged) trading: if the shorters are insolvent, a massive liquidation might leave some longers holding the bag, and would sure as hell hurt the broker.
Well then if that were the case, they should close the trade and liquidate everyone asap. Why allow trading to continue? Don't answer that, I know why. It would expose all the re-hypothecation and phantom sharing going on. The world will someday understand why tens of thousands of legit small cap value stocks are getting constantly getting squashed, while just a few favored growth stocks get pumped to the moon. There is an agenda behind it. How else do you funnel newly printed money where you want it to go?
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For the Average Joe's "protection" of course. Fking nanny state broker bullshit. They're moving to protect the corrupt wealthy elite. Reminds me of how China limits their citizens to going long on Chinese stonks @ $25K/per household.
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Why would they do that? They want to wipe out shorts too.
To raise capital from the bubble because the business is actually a loss-maker? Anyway, appears they're limited in their charter to 300 million common shares, so only about 1/4 billion available to them Theoretically they could raise capital (more debt) against the collateral value of their existing shares. That's typically how it's done. I'm sure there is a lot of internal talk going on at GameStop HQ rn about how to capitalize on all of this.
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I think this is the start of something major. It could wipe out some big wall street names. This changes everything if they succeed. They will keep going after other stocks until the system collapses or the government steps in. Also, there is nothing currently illegal about doing this. There is no insider information, just a bunch of like minded people exchanging trading ideas based on publicly available data. https://www.reddit.com/r/wallstreetbets/comments/l5vzsz/citadel_realizes_how_smooth_brained_melvin/Despite some shorters out there who are above board and are legit trying to root out corruption like Jim Chanos, most are complete scum of the earth. Their whole career is based on perpetual pessimism and misery. And most of them absolutely do crooked shit like naked shorting. They don't play by the rules. Andrew Left is the worst, he makes people like Jordan Belfort look like a saint.
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That Gamestop run up was put together by a Reddit group. They set out to wreck all of the shorts that had been set. They succeeded.
The guy who put it together pulled in $11 million from the run up.
This crazy fucking bastard held onto his stash and is up to $22 million now. https://www.reddit.com/user/DeepFuckingValue/That dude really needs to take some profit soon, because that stock is definitely going to plummet back to earth. And fast, when it does.
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this, basically. i always had enough hobbies and interests to never be bored working or not. and you may find areas of interest that you never would of though of once you dont need to keep someone elses schedule. once your time is truly yours and not someone elses you might be surprised where your wanderings take you. i havent worked for years and never have had more fun and new interests. its vastly more satisfying to invest your time into your projects rather than try to fit your lifestyle around some corporations daily schedule.
The thing that used to annoy me most about conventional corporate wage-slavery was the 9-5 hours, specifically the 9 part. We all know that some people are morning people, some are night owls. I'm definitely the latter. No less productive, just more productive in the evening than mornings. Yet employers insist that everyone starts at 09.00. There was hardly any point me starting work at that time, I had no ability to focus until at least 12.00. And just when my focus was starting to really come together at 17.30, it was time to go home. Ridiculous working system reflecting a bygone era And why is it always seen as a virtue to be a morning person, yet it's assumed that night owls just sit around watching TV or playing video games late into the night? And busy-ness - why is that seen as a virtue? There seems to be an underlying assumption that the busier a person is, the more virtuous they are. Why is so little value attached to making time to do nothing, to think, to slow down and to ponder the big questions? If you ever spend any significant time around mid-level managers, VPs, or C-Level executives (or if you are unlucky enough to be one yourself), you see how their entire workday is just slammed full of meetings. Meetings meetings meetings. And boy do they ever love to go to meetings, and talk and pontificate about pointless shit. All day, every day. And they view this as "productive time", as "work". But of course it's not actual work, because they never have any real action items to actually *produce* something from the outcomes of all these meetings (except for more fucking slide decks, lol). They are not the ones that actually have to go off and produce something tangible, it's all the worker-bees that do the actual work. That's why executives, VPs, and mid-level managers can go home at 5 or early, workout, eat well, enjoy being with their family, get a good nights sleep, and get paid lots of money... because they never really have to take actual "work" home with them, or stress about it after hours or on the weekends. They are not really on the hook for getting the real work done. And they are totally fine with that. Why do you think they are smiling and laughing all the time? Once I figured out that's how the corporate world works, I couldn't wait to get out. What a total waste of my brainpower dealing with all that crap.
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It's not true. edit: I mean I believe you about the 'feels' but the story itself isn't true. I think the feeling you might have is "whoosh".
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