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WSB vs Wall Street / Gamestop Stock and others blown up by Subreddit
- Thread starter Kasper
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Hedge fund managers are now a protected class.
Without looking into it, I'd imagine they got complaints from gay bears.
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the sub has gone private too
The replies to that thread are fantastic.
r/wallstreetbets set to private. Probably cleaning up all the bots trying to get people into BB and NOK.
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Do you know much about reddit? Some people on twitter are saying the mods can't get rid of them all due to limits on banning.
"No, the plebs aren't allowed to play!"
They submitted a requested to Reddit to increase it, I think taking the sub private gets rid of everyone so that fixes it I think but I could also be making that up. There's a backup r/wallstreetbets2 that people are using in the meantime and the mods of WSB put out a message saying they'll be back. IIRC they also took it private last week.
Cool. Thanks.
there are no real limits on banning*, but making new accounts is very easy and mods cannot detect it (admins maybe can). setting to pvt means new accounts cannot post since you need to be scubscribed before posting.
*you have to ban accounts individually, but you can write a script to shadow-ban people saying some words
Very grateful for those who have simplified much of the exchanges in communication. I've more capital to invest due to developments so will be starting a portfolio soon. Mind you I'm starting with next to no knowledge about stocks bar minimal practical definitions and the 'intelligent investor' book via Benjamin Graham.
WSB back up.
Yeah these sorts of professions are absolute scum. These people don’t actually contribute anything to society as a whole, they’re little more than parasites, and like you said, they’re as unethical as they come. I enjoy seeing them suffer, and I do hope that as many of them as possible lose everything from this.
Watching the ''free'' market in action is really something else.
It's the most radicalising tool on the planet.
It's the most radicalising tool on the planet.
I only get half of what's going on, at best, but it's hilarious to watch. Loads of rich cnuts desperately trying to work out if there's a way they can still leave and take their ball home with them.
Literally this - I'm not selling and I hope others aren't either. What an opportunity for joe public!
"I still believe in markets. Markets do not fail us. We fail markets."
Do we need another thread on this?
I've been reading wallstreetbets for a pretty long time, something of an expert I guess. If you ever need advice hit me up with some bread and we can do business
The whole situation is amusing. The fact that a company who looks to manipulate and screw over others to make money, has over reached and been caught out by a bunch of randoms on the internet. I have no sympathy for those companies.
I don't mess with individual stocks but I regret not throwing 500 into it on Friday when I first heard about it. It's been fascinating to follow nonetheless and I'm very curious about what it will mean for the future.
Isn't it just another thing to bet on? Rather than a stock going up you're hoping a stock goes down. Similar to betting on the Don't Pass line in craps.
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The moment the investor class is challenged they scream for regulating the retail investor. It's pathetic. These bottom feeder hedge funds get to ransack companies with shorts and it's all hidden behind the idea of "analysis told us all to do this". The retail investors will bare the brunt of gme eventual decline and there will be a lot of tears. However no one should give two fecks about a hedge fund shorting a stock 140%. WE JUST LIKE THE STOCK.
Chamath articulating my thoughts better than I could ever do. I don't know how it came be right to short a company out of existence but the opposite is wrong. It's bullshit.
That CNBC dude was literally arguing "why should a hedge fund suffer because of 18 year old traders on a website"
They are so fecking gross.
Oh no looks like the free market needs regulations. Who would have though
Feck Wall Street.
Feck Wall Street.
"The wrong people made money"
r/wsb has gone private at the moment. Would not be surprised if the subreddit ends up getting banned.
Yep agreed. The entire system is rigged and this is proving it.
I don't really get it at all but if you say that on Friday we eat the rich then sure I'll bring my big plate.
It's not personal, I just dont see the value in a profession were the only purpose is to generate money.
You can't despise me though, I work for a daycare, I'm basically mother Theresa.
Think she was a bit of a cnut
That Scott Wapner dude isn't wrong though. A lot of retail investors will be the ones getting hurt when this game of musical chairs stops.
They've been back for hours. The sub only went private to deal with the influx of bots who keep trying to shift people out of GME and into other tickers like NOK, AMC, BB so that the shorters don't get fecked so hard.
It's a little ironic that hedge funds are the ones who fecked up here and are getting hurt, but somehow it's the retail investors who are going to feel the burn. Retail investors are smart, they can judge risk and they're investing responsibly with money they can afford to lose if need be - something that Melvin and co should probably have thought about doing themselves. This whole thing came about on the back of an enormous look at the situation and the numbers. The molly coddling of the every man by those who think they're privileged, sophisticated and superior whilst shorting a company 140% like fecking morons is on full display. It's really weird to ignore the fact that a hedge fund put themselves in a position of bankruptcy and then talk about how normal people will lose money as if that's somehow the issue. That was the whole point about Chamaths message.
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The best way is to leave the market to regulate itself. Unless of course, that fecks the rich, in which case we need regulations.
I don't totally agree here. There were people in WSB who were putting everything they had. There was that kid in high school who convinced his parents to put all their 401k (it was roughly 300K) in GME. Countless other examples.
I think it is nice that in this zero-sum game, the shorts are the ones who are paying. But it might change, especially when the other smart investors get out. GME is never a $300 stock, when the shorts finally die, the price will go down, and those who bought high in this exuberance and are unable to sell in time, are going to get screwed too.