Reddit WallStreetBets vs Wall Street hedge funds

[ddcdevelopment]

here's a post I put on my FB this morning for anyone curious about all the news about Reddit, RobinHood and GME (GameStop stock).


"this is for everyone that A) doesn't know about the Reddit group trading 'meme stocks'. or B) thinks they are just a bunch of 'day traders'

the Reddit group are True Believers. they are from all over the world. they are mostly millennials that were kids during the Crash of 2008; living through what happened to their parents and families. and most of them know very little about stock trading other than they WERE using the RobinHood app.

they have a mission. they are learning fast. people are joining them everyday, again from ALL OVER THE WORLD. they are their own support group and place to belong. to them they are doing something worth doing, being part of something worth being a part of.

most of the Talking Heads and celebrities of financial tv don't really understand. Charles Payne of Fox does. Dave Portnoy and Elon Musk do. most of the others don't get it.

Support them or don't. agree with them or disagree. but don't dismiss or ignore them. the Financial World will never quite be the same after this."

 

[kenton]

I guess since you are so studious in economics, you feel like English and grammar just aren't important.

 

[BigHornRam]

 

[ddcdevelopment]

I guess since you are so studious in economics, you feel like English and grammar just aren't important.

Kenton, I think you are commenting on the 'open letter to hedge funds' part.

understand the 'open letter' jpeg is an actual post from a member of the WSB sub-reddit (not myself) that I was commenting about on my FB page.

to your point, yes the grammar and proof-reading leave a lot to be desired. but that's part of the point. the WSB group is largely millennials from literally all over the world that have banded together. with little more than cell phones, Reddit and RobinHood they have become a force that EVERY financial show is talking about this week.

they may not be very polished, professional or even well mannered or well educated. but they have made themselves into a financial force that has everyone's attention.

 

[BigHornRam]

Are they prepared to get squashed like bugs? Because that is what is going to happen.

 

[ddcdevelopment]

Are they prepared to get squashed like bugs? Because that is what is going to happen.

my take is no, they are not prepared for that. in the meantime the hedge funds are getting the worst of it.

 

[BigHornRam]

my take is no, they are not prepared for that. in the meantime the hedge funds are getting the worst of it.

You think the administration had a chat with Robinhood, off the record?

 

[BigHornRam]

Btw while you are here pumping hot air up everyone's ass, this is a hunting site. Got any good hunting stories to tell?

 

[duckhunt]

WOW. Here we go again.

 

[ddcdevelopment]

You think the administration had a chat with Robinhood, off the record?

did someone get to RobinHood? Yes I think so. personally I don't think it was the administration. this happened too quickly and the administration was caught off guard and is still playing catch up. and that's not a dig on the new administration. I'm not a fan of the new admin but this was out of nowhere to the rest of the US.

I've read that RobinHood was simply covering themselves because they are just the portal and another company is a clearing house for the trades. and that sounds logical and believable. but I think RobinHood got a call from very important people in the financial arena. remember, RH wants to IPO very soon. do they want to be the face of the collapse of numerous hedge funds right before their IPO?

probably not.

 

[SAJ-99]

here's a post I put on my FB this morning for anyone curious about all the news about Reddit, RobinHood and GME (GameStop stock).


"this is for everyone that A) doesn't know about the Reddit group trading 'meme stocks'. or B) thinks they are just a bunch of 'day traders'

the Reddit group are True Believers. they are from all over the world. they are mostly millennials that were kids during the Crash of 2008; living through what happened to their parents and families. and most of them know very little about stock trading other than they WERE using the RobinHood app.

they have a mission. they are learning fast. people are joining them everyday, again from ALL OVER THE WORLD. they are their own support group and place to belong. to them they are doing something worth doing, being part of something worth being a part of.

most of the Talking Heads and celebrities of financial tv don't really understand. Charles Payne of Fox does. Dave Portnoy and Elon Musk do. most of the others don't get it.

Support them or don't. agree with them or disagree. but don't dismiss or ignore them. the Financial World will never quite be the same after this."

View attachment 172111

I’m with you. Power to people, even if they are idiots. Just let us know what you are buying next. $$$$

 

[noharleyyet]

Where is the pumping? He’s in the right sub forum.

 

[ddcdevelopment]

BigHornRam, I did post in the Money and Finances section...

yes I do have a hunting story to tell. I had to put my trapping skills to work this last winter. I live in Myrtle Beach, SC in a neighborhood with lots of trees. with squirrels. gray squirrels. I had the soffit down off my front porch and the blanety-blank squirrels starting getting up in the attic and nesting.

so how exactly do you get those rats with tales out? can't shoot them in the neighborhood. didn't want to poison them and risk having them die in a nook or cranny and have to smell that.

after mulling it over I came up with improved rat traps on chains and some coated wire snares. I pulled 7 squirrels out of there before I got the front porch remodeled.

I guess running a trap line as a kid in WV has its benefits.

 

[BigHornRam]

did someone get to RobinHood? Yes I think so. personally I don't think it was the administration. this happened too quickly and the administration was caught off guard and is still playing catch up. and that's not a dig on the new administration. I'm not a fan of the new admin but this was out of nowhere to the rest of the US.

I've read that RobinHood was simply covering themselves because they are just the portal and another company is a clearing house for the trades. and that sounds logical and believable. but I think RobinHood got a call from very important people in the financial arena. remember, RH wants to IPO very soon. do they want to be the face of the collapse of numerous hedge funds right before their IPO?

probably not.

So what's your stake

 

[ddcdevelopment]

So what's your stake

me personally, I came late to the party. I'm not a millennial (47 yo) and I don't hang out on Reddit. I do mortgages so I'm pretty busy during the day. a customer asked me about this and I started digging. I did join the group and I did buy some BB (BlackBerry) stock, which is one of the minor stocks the group is supporting. I have a BB phone if that tells you how trendy I am.

I'm posting this info because A) everyone's hearing about this story B) almost no one on the financial news is getting to the real story here and C) this honestly will change things in the financial world going forward.

and unless you're a millennial Redditer tied to your phone (not us) or major into the financial world (also usually not us) you really have no idea what's happening.

 

[BigHornRam]

It's been all over the news, and every talking head has been trying to spin the narrative to suit their personal agenda. Sorry for jumping your chilli earlier. I thought you were a spammer.

 

[ddcdevelopment]

It's been all over the news, and every talking head has been trying to spin the narrative to suit their personal agenda. Sorry for jumping your chilli earlier. I thought you were a spammer.

honestly, no worries. I'm a newer member and you guys don't know me yet.

the news spin has been pathetic on this. most commentators were calling the group 'day traders'. day traders don't Buy and HOLD. I've been in the office with the financial 'news' playing and a browser open to the actual Reddit forum watching the posts and the the disconnect from 'news' to reality has been atrocious.

its only been the last 24 hours I've heard decent reporting on this.

 

[BigHornRam]

I agree with some of what your saying, but when it comes to Elon Musk, he's the biggest con job of the bunch.

 

[Tiredofthebickering]

I agree with some of what your saying, but when it comes to Elon Musk, he's the biggest con job of the bunch.

Here we go again......

 

[Big Sky Guy]

Here we go again......

We going to the moon