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Markets still falling like whoa

Llano Estacado

By Llano Estacado
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52-80

52-80 19162

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Posted
4 minutes ago, Bateshorn said:

I’m a boring, Bogle head, index investor.  A basic bitch who loves low volatility, compound returns, and dividends. When I start paying attention, that means it’s too late. 

for many people, its no longer about the money.  this is an inflection point in the market dynamics and narrative that will be felt for a long time.  the first massive case of finance-populism.

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Eastwood
Eastwood

That's why I'm out. There is no end game, IMO. This has to be fixed outside of the market and I got too nervous about what that entails for retail investors. They will always be last on the list, if o

Rusty Shackelford
Rusty Shackelford
Eastwood
Eastwood

I'm not a financial advisor. This is not financial advise. I don't work in finance. I do not have a degree in finance. Actually, I have a BA and I'm bad at math past Cal I. I won't apologize for the l

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Bateshorn

Bateshorn 9928

Posted
Posted
2 minutes ago, 52-80 said:

for many people, its no longer about the money.  this is an inflection point in the market dynamics and narrative that will be felt for a long time.  the first massive case of finance-populism.

I started really paying attention about (I had been loling at the fin memes for a few weeks, not even bothering to look up GME) 2 days ago when I noticed a bunch of active mutual funds I manage for my mom in a trust fund (Her previous manager bought them and I’ve been trying to slowly unwind her positions to avoid the cap gains hit) did much much worse than the market one day.  Like all of them. 
 

That’s when I realized this thing was causing margin calls across the industry. 
 

Which is why The Man has finally showed up.

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TwiceHorn

TwiceHorn 31488

Posted
Posted
2 minutes ago, Coelenterate Fuccboi said:

You know who can though... these institutions are probably breaking all kinds of rules to clean this up and nobody will do shit about it.

Yeah, Wall Street is way ahead of the regulators.  That's how they get lucky/smart more often than regular Joes.  "Inside" information, dark pools and trading tricks, etc.  Penny-stealing criminal men.

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52-80

52-80 19162

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3 minutes ago, TwiceHorn said:

Yeah, Wall Street is way ahead of the regulators.  That's how they get lucky/smart more often than regular Joes.  "Inside" information, dark pools and trading tricks, etc.  Penny-stealing criminal men.

this is no longer about being smarter.  its just straight up bullying.

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Trey3216

Trey3216 15346

Posted
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1 hour ago, Bateshorn said:

What I find hilarious is the big firms inability to understand their sunk cost, and instead of truly closing out their short positions just walking away from $GME, and letting the bubble naturally deflate,  they can’t help themselves and start trying to short it again. It’s a toxic relationship and they keep coming back. 

Fucking Ackman did that with Valeant.  Had an enormous position at an average cost of $190 or something per share.  Road it all the way down and finally sold out at $8/share.  

 

I started buying it at 12, tripled my position as soon as the news broke that Ackman sold out, and road 5k shares up to 20+ per share over the next few months.  

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Continental Op

Continental Op 3934

Posted
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1 hour ago, Bateshorn said:

I’m a boring, Bogle head, index investor.  A basic bitch who loves low volatility, compound returns, and dividends. When I start paying attention, that means it’s too late. 

This is how I handle most of my money as well but I recommend making a small fuck around account because it is a ton of fun and, with a little elbow grease, you can make money off of it.  Are we going to beat the market long term with it?  Nope, but it's fun to be able to pull some gains out and buy something frivolous every now and then. 

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tokamak

tokamak 6431

Posted
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3 minutes ago, Continental Op said:

This is how I handle most of my money as well but I recommend making a small fuck around account because it is a ton of fun and, with a little elbow grease, you can make money off of it.  Are we going to beat the market long term with it?  Nope, but it's fun to be able to pull some gains out and buy something frivolous every now and then. 

Agree that it sounds fun, but how do those of you that do this avoid getting fucked in the ass on taxes?

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52-80

52-80 19162

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if we can all afford ourselves a little reprieve from the GME madness for a minute, and get back into the SPAC madness:

 

(1) Faraday motors is going public via SPAC.  This is a company run by some chinese scammer dude whose best attribute is a gift for burning money away.  I think hes chased out of China because he has massive debt and they're after his head.  Theres alot of EV fakehypery going around, and Faraday is basically the WeWork of EVs.

(2) Speaking of which....Wework is going public via SPAC.

 

LOL

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fattyflattie

fattyflattie 4639

Posted
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5 hours ago, bluto said:

Or these platforms can pull a tda and just fucking crash entirely. Anybody have a rec for a platform that doesn’t crash on heavy days?

I’m looking for one that doesn’t crash, and more importantly, doesn’t change the rules in the middle of a bloodletting?

So far RH is off the list

TD is off the list from the shit they pulled yesterday 

Has Fidelity fucked around yet? 

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Trey3216

Trey3216 15346

Posted
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5 minutes ago, fattyflattie said:

I’m looking for one that doesn’t crash, and more importantly, doesn’t change the rules in the middle of a bloodletting?

So far RH is off the list

TD is off the list from the shit they pulled yesterday 

Has Fidelity fucked around yet? 

They all did it.  I guess you could call and order paper shares to be delivered to your broker of choice.  But i'm fairly certain paper shares were eliminated a long time ago.  

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fattyflattie

fattyflattie 4639

Posted
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2 minutes ago, Trey3216 said:

They all did it.  I guess you could call and order paper shares to be delivered to your broker of choice.  But i'm fairly certain paper shares were eliminated a long time ago.  

Well that is unfortunate. I’m not a whale but would have been satisfying to pull my account and move it somewhere that doesnt fuck the people. But I guess they all do. 

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B00M

B00M 6416

Posted
Posted
4 minutes ago, fattyflattie said:

I’m looking for one that doesn’t crash, and more importantly, doesn’t change the rules in the middle of a bloodletting?

So far RH is off the list

TD is off the list from the shit they pulled yesterday 

Has Fidelity fucked around yet? 

Per WSB fidelity was good today but in my experience, I was readily able to buy dumpy stocks like T but unable to buy GME or AMC because the bid and ask amounts on the trade screen were $0 (Instead of $254.xx like right now) during the big dip this morning. It would then predictably error if you tried to buy.

The "glitch" has since been fixed so the bid and ask reflect the current price so presumably you can buy them again... but the horsefuckery has me willing to hold, not buy more. 

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DonkeyCigars

DonkeyCigars 143

Posted
Posted (edited)

Do y'all think other FinTech platforms are seeing this as a way to differentiate from RH and have a good narrative as we exit this? e.g. WE stayed open for the people during $GMEgate while the other green guy hung out in Sherwood Forest with the Sheriff

Because prior to this RH was eating lunches.

Edited by DonkeyCigars
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Incredulity

Incredulity 11675

Posted
Posted (edited)
6 minutes ago, ZB'Tejas said:

I don't think they ever stopped other than technical difficulties the platform had during the opening. I thought the limitation was around needed margin balance to make trades on those securities.

I am not sure.

I saw it in a thread on WSB's that they changed there position on allowing buying.

 

I went to an IRA account I have with them and bought 10 shares for the LULZ.   I will diamond hands those shares just for the laughs.  May well be the best $2500 I ever spend.

Edited by Incredulity
10 shares.
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hayden_horn

hayden_horn 11362

Posted
Posted
9 minutes ago, fattyflattie said:

I know some of them have glitches and get overloaded at whatnot, but I thought most of today they just froze GME.  That's who I'd rather not use.  TDA pulled some bullshit yesterday not letting GME trade for a bit as well I thought.  

tda pulled trading of gme yesterday, i think

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