Wall Street Walk for Perspective

Awesome Twitter thread by Weiss should be required reading to stay in class

creepycoug said:

GreenRiverGatorz said:

I hate that he's right. But damn if I'm not going to keep tuning in to what has become the greatest spectator sport of the year.

He's right. But some average dipshit is going to sell and be worth a lot more than he would have been just working the rest of his life. So there's that.

Of course somebody pays. There's always the other side of the trade. Anybody buying GameStop now deserves what they get. I don't mean that in a judgy way. At this point, it's clear that it's stock price is well into another galaxy from the company's organic value. If you buy at that price, you deserve whatever you get, be it good or bad. You know you're gambling on nothingburger.

Probably a good time to short the stock...

DerekJohnson said:

HHusky said:

GreenRiverGatorz said:

I hate that he's right. But damn if I'm not going to keep tuning in to what has become the greatest spectator sport of the year.

As I said to my son, "I'll do exactly what I do in Vegas. Watch."

By any chance... is your son's name Preston?

If this is a referent, I'm not hip enough to get it.

I also changed my mind a little about Weiss' tweet marathon.

His whole diversion into the advantages that big traders have (servers, etc.) has been known for years. So, yeah, ok. The more trading volume, the more they can take advantage of the tiniest changes in stock price. OK.

Did anybody anywhere say nobody on Wall St. was making money the last few weeks? If so, I missed it. The only thing that is really relevant is that a bunch of unaffiliated people on the internet drove up the price of stock of some nothing company and some, or a bunch of, IDK, hedge funds got caught with their pants down shorting the stock.

Does all that other stuff, where he ends each thing with "Populism", really have anything to do with the story? Again, nobody said retail guys were the only people making money.

That wasn't the story. The story is that they were, at the same time some funds got fucked by the uptick (understatement of the year) in the stock price, and then miraculously the guys who were benefitting got locked out.

That's the story. That's it. Nobody said Wall Street is over.

doogie said:

Hi Ho Silver, Away!

Seems our little Robinhood Friends making some coin and fucking up some Wall Street Blue bloods quarterly bonuses, IS the problem

Bullion Dealers Face Sudden Shortage As Reddit-Raiders Take Aim At Silver

https://www.zerohedge.com/markets/reddit-preparing-unleash-worlds-biggest-short-squeeze-silver

Reddit Bros > Hunt Bros?

creepycoug said:

I also changed my mind a little about Weiss' tweet marathon.

His whole diversion into the advantages that big traders have (servers, etc.) has been known for years. So, yeah, ok. The more trading volume, the more they can take advantage of the tiniest changes in stock price. OK.

Did anybody anywhere say nobody on Wall St. was making money the last few weeks? If so, I missed it. The only thing that is really relevant is that a bunch of unaffiliated people on the internet drove up the price of stock of some nothing company and some, or a bunch of, IDK, hedge funds got caught with their pants down shorting the stock.

Does all that other stuff, where he ends each thing with "Populism", really have anything to do with the story? Again, nobody said retail guys were the only people making money.

That wasn't the story. The story is that they were, at the same time some funds got fucked by the uptick (understatement of the year) in the stock price, and then miraculously the guys who were benefitting got locked out.

That's the story. That's it. Nobody said Wall Street is over.

Yup.

When hedge funds lose $10+ billion that money doesn’t magically disappear. It goes somewhere. And it would have been a lot more if the system hadn’t been fucked with. Did other hedge funds get some? Probably, but not many were long GME. A bunch of average Joes got that money.

A bunch more average Joes are going to lose money as the stock crashes back down. Not sure a bunch of hedge funds will feel comfortable shorting it to drive it down faster and capture some of that money.

YellowSnow said:

All I know is if I read one more stupid article about day trader populists sticking it to the man I’m gonna barf.

Yella, you are afforded a great deal of slack and benefit of the doubt because of your rowboat quals and HCH status as a member of the Philosopher King Entourage.

That said, you need bring it when you're on this forum. @Doog_de_Jour still has not responded to my latest thread; but that is because she is formulating a response with intellectual heft, and formulating such thoughts is an art, and art does not come easy, so says Norman McLean.

I will expect moar from your next try.

YellowSnow said:

creepycoug said:

YellowSnow said:

All I know is if I read one more stupid article about day trader populists sticking it to the man I’m gonna barf.

Yella, you are afforded a great deal of slack and benefit of the doubt because of your rowboat quals and HCH status as a member of the Philosopher King Entourage.

That said, you need bring it when you're on this forum. @Doog_de_Jour still has not responded to my latest thread; but that is because she is formulating a response with intellectual heft, and formulating such thoughts is an art, and art does not come easy, so says Norman McLean.

I will expect moar from your next try.

A man's gotta know his limitations, Creep. I don't consider myself to be very knowledgeable as it relates to investing and Wall Street in general. My wife and I are in a good spot net worth wise, but I need to start a thread about financial planner advice fairly soon.

That's a great topic. Start it. I mean, 1% (minimum) AUM fee. Is it worth it for professional wealth management?