I wish they would ban all of Congress from Twitter. 🙄 Ted Cruz is a POS andI completely understand AOC’s point, but dear Jesus. I’m sick of the back and forth banter between all of them. They would all be fired for violating social media policies if they worked in corporate America.
This isn't just banter. If they worked in corporate America Cruz wouldn't be in his job anymore and would be under investigation.
Yes, AOC can sometimes get a little snarky and/or hyperbolic. This wasn't one of those times. Cruz encouraged the mob before hand *and* continued to do so after the fact. People who were specifically looking to murder her.
Have you heard the description given by the Capitol Police officer on This American Life? Of how he felt like he was fighting computer game zombies but in real life. No matter what they did, the mob kept coming and his colleagues kept going down injured.
Imagine people were trying to murder you, and your coworker incited and supported it, and instead of getting arrested for it he didn't get fired, and then three weeks later wanted your cooperation on a project.
Post by discogranny on Jan 28, 2021 18:33:39 GMT -5
I’m in on a few other shorted stocks just to see what happens. I want to go on vacation (sone post covid day) and buy frivolous things and winning on bets like this help make that happen without hitting our finances. I guess I’ve become a true YOLO investor. Ha.
I just lurked on wallstreetbets. 😳 there’s a lot to unpack there.
Did you see this? If I participate in the next one I’ll sabotage the whole thing because I’d sell in a heartbeat. Cause be damned
Yesterday he was at $47mm and still expects it to rally. When he exits the stock will crash because all the other redditors will too. What a wild ride.
Post by thelurkylulu on Jan 28, 2021 18:59:04 GMT -5
sonrisa I agree with you that Ted Cruz would have been fired from any job in corporate America and I agree he should be held accountable for his part in the insurrection. That said, I’m tired of all the back and forth. I want normal, boring politics again. I want grown ups who recognize they hold esteemed positions in this country and don’t fire off a Twitter response (general statement here, not specifically directed at AOC) every 5 minutes to everything. They’re all out of touch and have it way better than the majority of people in this country right now. Just go to work and do your damn jobs.
So, for those who know more about this than I do, could this cause GameStop to go out of business sooner? I mean, I understand that the reason that people shorted the stock to begin with was that they expected GameStop to cease operations. Could this whole thing accelerate that timeline? Because if the answer is yes, then this whole thing is pretty shitty for the people who currently work there.
So, for those who know more about this than I do, could this cause GameStop to go out of business sooner? I mean, I understand that the reason that people shorted the stock to begin with was that they expected GameStop to cease operations. Could this whole thing accelerate that timeline? Because if the answer is yes, then this whole thing is pretty shitty for the people who currently work there.
No.
ETA: The only solid connection between business health and stock price is when stock is offered (ie. if it collapses, it won't make it to IPO) and when it folds and the stock becomes worthless. Dividends can reflect health of the underlying business. However, the price itself is just a reflection of the market's optimism. Theoretically that is driven by the value of the company and how it is functioning, but it can also be driven by completely unrelated factors (like the buy/sell decisions of an influential investor, or even more capricious factors). But that doesn't go the other way. Lack of confidence from the market can affect stock held by the company or employees, and it can make it difficult for a company to raise money with a new stock offering, but it shouldn't affect day to day operations.
So, for those who know more about this than I do, could this cause GameStop to go out of business sooner? I mean, I understand that the reason that people shorted the stock to begin with was that they expected GameStop to cease operations. Could this whole thing accelerate that timeline? Because if the answer is yes, then this whole thing is pretty shitty for the people who currently work there.
Is the whole point of this project for the Reddit people (or whoever) to get rick quick, or are they doing this as a big “fuck you” to wealthy Wall Street investors?
This is what I'm trying to figure out. Does anyone know?
Is the whole point of this project for the Reddit people (or whoever) to get rick quick, or are they doing this as a big “fuck you” to wealthy Wall Street investors?
This is what I'm trying to figure out. Does anyone know?
It's the internet - there's no mission statement or shared intention.
Some want to get rich quick.
Some want to screw over wealthy hedge funds.
Some want to Stan Gamestop.
Some want to impress their girlfriend.
Some are bored because they can't go gamble in Vegas.
Some are excited about the buzz and want to be part of the latest thing / FOMO.
Some probably think it's the way to bring down QAnon's pedophilia rings /fight aliens / numerology / bring on civil war / resurrect jesus
I probably have a diverse portfolio...index funds are something we've discussed. We have a financial advisor, and I trust her. But reading this thread its clear that I could probably be making more money. H likes to gamble (sports betting, poker, etc) and is a math major, so I am shocked he's never gotten into this stuff. Happy, but shocked.
The thing is with index funds is that there are soooo many of them (you can do everything from S&P 500 to international to small cap to target retirement date to industry sector focused to bonds to ESG and so much more) and the fees are very very low. Depending on how your advisor’s fees are structured (setting aside the trust factor) - if she gets paid to recommend certain things or gets a fee for managing your investments- it’s worth looking at whether you’d get a better return with index.
This is what I'm trying to figure out. Does anyone know?
It's the internet - there's no mission statement or shared intention.
Some want to get rich quick.
Some want to screw over wealthy hedge funds.
Some want to Stan Gamestop.
Some want to impress their girlfriend.
Some are bored because they can't go gamble in Vegas.
Some are excited about the buzz and want to be part of the latest thing / FOMO.
Some probably think it's the way to bring down QAnon's pedophilia rings /fight aliens / numerology / bring on civil war / resurrect jesus
I side-eye a lot of op-eds because I see almost all of them as click bait.
But since we're on the subject, CNN posted an op-ed that compared participating in the GameStop stock surge to voting for Donald Trump. The way that I read this is NOT that people who purchased GameStop stock also voted for Trump. I read this as, "Some people voted for Trump because they wanted to give the middle finger to some vaguely defined "elite," and some people purchased GameStop stock because they wanted to give the middle finger to some vaguely defined elite.
I’m in on a few other shorted stocks just to see what happens. I want to go on vacation (sone post covid day) and buy frivolous things and winning on bets like this help make that happen without hitting our finances. I guess I’ve become a true YOLO investor. Ha.
Do you mean you're short selling? Or that you bought some stocks that are heavily shorted by others?
A couple of people have compared this to betting where the house always wins. I wonder if this sentiment is about investing overall, investing in individual stocks, or day trading while following forums like WallStreetBets? Because there's a huge amount of variation in the risks involved from one end of this spectrum to the other.
I probably have a diverse portfolio...index funds are something we've discussed. We have a financial advisor, and I trust her. But reading this thread its clear that I could probably be making more money. H likes to gamble (sports betting, poker, etc) and is a math major, so I am shocked he's never gotten into this stuff. Happy, but shocked.
The thing is with index funds is that there are soooo many of them (you can do everything from S&P 500 to international to small cap to target retirement date to industry sector focused to bonds to ESG and so much more) and the fees are very very low. Depending on how your advisor’s fees are structured (setting aside the trust factor) - if she gets paid to recommend certain things or gets a fee for managing your investments- it’s worth looking at whether you’d get a better return with index.
Yes! We have an S&P500 index. It basically means we're diversified across those 500 companies, so our money does basically what the stock market does. Of course there are months where it drops alarmingly, but on average over years it goes up.
I’m in on a few other shorted stocks just to see what happens. I want to go on vacation (sone post covid day) and buy frivolous things and winning on bets like this help make that happen without hitting our finances. I guess I’ve become a true YOLO investor. Ha.
Do you mean you're short selling? Or that you bought some stocks that are heavily shorted by others?
. I assume she means that she bought some of the stocks adjacent to this whole game stop thing, like amc or express or one of the others. I could be wrong, but that's my guess.
A couple of people have compared this to betting where the house always wins. I wonder if this sentiment is about investing overall, investing in individual stocks, or day trading while following forums like WallStreetBets? Because there's a huge amount of variation in the risks involved from one end of this spectrum to the other.
I was thinking of day trading and following forums. You can't win all the time, and it's really hard to make *actual* money doing it. You have to be willing to walk while you're up, and not hold out for an even bigger pay-out, which comes with sizable risk of substantial loss. It's like gambling, and I can see how it could become legitimately addicting. You get ahead, and think "this is AMAZING, I'm crushing it." Then you bet big, because you're confident you've got it figured out, and are SO sure this is going to be the one where you hit big, and you're going to make bank because you finally got in early, then poof, it's all gone and you're back where you started.
It's why I said H and I both agreed that he could take the initial amount, and we'd both be ok if he literally lost it all. Obviously, I hope he doesn't (because damn, I really would love a new kitchen, lol) but I think it's pretty tough to "beat" the market that way as an amateur/hobbyist. It's more a hobby/something to do for him.
Investing overall, no. We have other investments that we don't mess with, and are in for the long haul.
I probably have a diverse portfolio...index funds are something we've discussed. We have a financial advisor, and I trust her. But reading this thread its clear that I could probably be making more money. H likes to gamble (sports betting, poker, etc) and is a math major, so I am shocked he's never gotten into this stuff. Happy, but shocked.
The thing is with index funds is that there are soooo many of them (you can do everything from S&P 500 to international to small cap to target retirement date to industry sector focused to bonds to ESG and so much more) and the fees are very very low. Depending on how your advisor’s fees are structured (setting aside the trust factor) - if she gets paid to recommend certain things or gets a fee for managing your investments- it’s worth looking at whether you’d get a better return with index.
How does one go about investing in an index? I've always just let my advisor take my money.
Do you mean you're short selling? Or that you bought some stocks that are heavily shorted by others?
. I assume she means that she bought some of the stocks adjacent to this whole game stop thing, like amc or express or one of the others. I could be wrong, but that's my guess.
This exactly. I did some research on short positions and float percentage and decided to hedge some bets on what will likely be much smaller, less publicized gains, but gains nonetheless.
A couple of people have compared this to betting where the house always wins. I wonder if this sentiment is about investing overall, investing in individual stocks, or day trading while following forums like WallStreetBets? Because there's a huge amount of variation in the risks involved from one end of this spectrum to the other.
I read a good op-ed yesterday (sorry, no clue where I've read a TON of them in the last 72 hours) but he basically said that this ::waiving arms around:: is like gambling. Day trading is like gambling. But there is a HUGE difference in investing. Investing is for long term and if you're doing singular stocks, it should be something that you think is a slow and steady growth and don't put all your money into it. Like, I bought some shares of Apple when they split and were at $100 for my kids Roths, so hopefully that grows nicely over the next 50 years for them. But I also have them (as well in as my own IRA) in mostly mutual funds that will ride the waves but for the most part should grow over time.
But trading singular stocks should definitely be seen as gambling and not be done with life savings or retirement funds, except in rare occasions, like I mentioned.
Now, I am not an expert by ANY means, so this is not advice, just my opinion.
And CNN doesn't really make sense (or I should say the people that voted for Trump to give the middle finger to the elite don't make sense) because Trump is the EXACT type of person that this is trying to give the middle finger too. He was part of this elite long before he ran for President. I have no idea what the majority of political views are on WSB, but I can guarantee that I'm on their side and would never in a bazillion years vote for Trump.
mae141, one option if you already have a 401k or IRA is to move some of the money in there into index funds. Most 401ks will have a range of different mutual fund options that include index funds of different types, so you can take a look at the choices and see what makes the most sense for you.
And/or you can buy funds directly with a company: Vanguard, Fidelity and BlackRock are the big ones. You can just open an account online with any of them. investor.vanguard.com/investing/how-to-invest/
If you have an advisor then you do already have a brokerage account somewhere, so you can also switch any of those funds over to index as well. Bear in mind that if they are not retirement protected (401k, IRA) you will pay taxes on any gains you have at the sale date.
To start with you might want to review the annual fees on all the investments you have - the benefits of index funds are low fees as well as diversification. For actively managed funds, don’t just look at the top line returns for comparison - look at what you got after subtracting out the fees you paid. If you are paying an advisor they will not like these questions and probably will try to convince you that actively managed investments (ie, them) are better.
The thing is with index funds is that there are soooo many of them (you can do everything from S&P 500 to international to small cap to target retirement date to industry sector focused to bonds to ESG and so much more) and the fees are very very low. Depending on how your advisor’s fees are structured (setting aside the trust factor) - if she gets paid to recommend certain things or gets a fee for managing your investments- it’s worth looking at whether you’d get a better return with index.
How does one go about investing in an index? I've always just let my advisor take my money.
Well, if you already work with an advisor you could ask her to buy some index funds for you. Depending on how she is paid this could work just fine or be a bit inefficient.
Functionally, you can buy the funds directly or through your brokerage account:
A couple of people have compared this to betting where the house always wins. I wonder if this sentiment is about investing overall, investing in individual stocks, or day trading while following forums like WallStreetBets? Because there's a huge amount of variation in the risks involved from one end of this spectrum to the other.
I was thinking of day trading and following forums. You can't win all the time, and it's really hard to make *actual* money doing it. You have to be willing to walk while you're up, and not hold out for an even bigger pay-out, which comes with sizable risk of substantial loss. It's like gambling, and I can see how it could become legitimately addicting. You get ahead, and think "this is AMAZING, I'm crushing it." Then you bet big, because you're confident you've got it figured out, and are SO sure this is going to be the one where you hit big, and you're going to make bank because you finally got in early, then poof, it's all gone and you're back where you started.
It's why I said H and I both agreed that he could take the initial amount, and we'd both be ok if he literally lost it all. Obviously, I hope he doesn't (because damn, I really would love a new kitchen, lol) but I think it's pretty tough to "beat" the market that way as an amateur/hobbyist. It's more a hobby/something to do for him.
Investing overall, no. We have other investments that we don't mess with, and are in for the long haul.
I do agree that day trading and shenanigans like we're seeing with GME is more like gambling. It also sounds exhausting.
Post by underwaterrhymes on Jan 29, 2021 9:33:57 GMT -5
I want to root for the Davids in this, but it sounds like these Davids are also racist trolls? Is that right? If my understanding is correct, they suck (along with the Goliaths) and I hope they all lose a bunch of money.
This is also an excellent example of why the stock market is not and should be representative of the economy.
I want to root for the Davids in this, but it sounds like these Davids are also racist trolls? Is that right? If my understanding is correct, they suck (along with the Goliaths) and I hope they all lose a bunch of money.
This is also an excellent example of why the stock market is not and should be representative of the economy.
What all this tells me is: 1. that most (not all) finance bros are superbros, whether they work at a hedge fund or in their basements, 2. We need more banking regulation. MUCH MUCH MORE.