Money Investing megathread extravaganza - Page 459

**DaFace** · 06:35 PM

A place to talk about investing stuff.

Buddy Rich · 01-28-2021, 01:58 PM

Quote:

Originally Posted by Fat Elvis

I don't think people fully comprehend what actually happened when retail investors weren't allowed to make purchase orders and institutions still had access.

yep

MagicHef · 01-28-2021, 02:11 PM

Robinhood is now selling people's GME shares against their will.

They are automatically selling shares. pic.twitter.com/o9XCdL9ND1
— Sunny (@555Sunny) January 28, 2021

Discuss Thrower · 01-28-2021, 02:13 PM

TD Ameritrade offers a referral bonus of $50.

Send that along to anyone who uses RH.

ReynardMuldrake · 01-28-2021, 02:24 PM

Quote:

Originally Posted by suzzer99

When one person does it it's a short squeeze. When a crowd does it it's a pump and dump with a side of short squeeze.

It's both, really. Call it a pump & squeeze.

ReynardMuldrake · 01-28-2021, 02:25 PM

Quote:

Originally Posted by MagicHef

Robinhood is now selling people's GME shares against their will.

They are automatically selling shares. pic.twitter.com/o9XCdL9ND1
— Sunny (@555Sunny) January 28, 2021

Unreasonable risk to whom? That is suuuuuper shady.

**Rain Man** · 01-28-2021, 02:34 PM

Yeah, that's not cool at all. I mean, it's probably going to help the people involved, but they bought at their own risk and they have the right to hold or sell at their own risk. That's really crossing a line that shouldn't be crossed.

I guess I don't know if Robinhood is technically the money manager on those accounts or not. Maybe they've got the legal right in some fine print to make trades on the account holder's behalf, but if I had any money in Robinhood I'd be shutting down my account today.

**DaFace** · 01-28-2021, 02:35 PM

Quote:

Originally Posted by ReynardMuldrake

Unreasonable risk to whom? That is suuuuuper shady.

Whether they should be in the role of protecting people is subject to debate, but this is insanely risky to anyone buying in right now.

One month from now, GME will likely be worth $20. If you're buying now, you're betting that you can time it right and not lose your ass before then, and people have never been able to time the market.

neech · 01-28-2021, 02:37 PM

Quote:

Originally Posted by MagicHef

I just bought GME on TD Ameritrade.

Good luck.

ChiliConCarnage · 01-28-2021, 02:39 PM

Quote:

Originally Posted by ReynardMuldrake

Unreasonable risk to whom? That is suuuuuper shady.

The brokerage.

The kind of people doing this stuff with Gamestop or bidding up bankrupt Blockbusters liquidating holding stock up 2000% in 2 days are absolutely people trading on maximum margin loans. If you lose their money trading there isn't any house or car to reclaim.

MagicHef · 01-28-2021, 02:39 PM

Quote:

Originally Posted by Rain Man

Yeah, that's not cool at all. I mean, it's probably going to help the people involved, but they bought at their own risk and they have the right to hold or sell at their own risk. That's really crossing a line that shouldn't be crossed.

I guess I don't know if Robinhood is technically the money manager on those accounts or not. Maybe they've got the legal right in some fine print to make trades on the account holder's behalf, but if I had any money in Robinhood I'd be shutting down my account today.

Help them? Robinhood sold their shares at the extreme low today. 45 minutes later would have made a >$800,000 difference to this customer.

**Rain Man** · 01-28-2021, 02:40 PM

On a much more minor note, I've got an account at Schwab. I opened it online and have never spoken to a human being, which is how I want it.

Except once.

Years after I opened the account, I got a call out of the blue from someone I'd never heard of. He said, "I'm your broker at Schwab, and I'm going through your account. I see you've got XXX shares of this stock and YYY shares of that stock, and I'm wondering if perhaps we should move some to ZZZ mutual fund where I get paid a commission." (Well, he didn't say that last part, but it was obvious.)

I took the phone away from my ear and looked at it in confusion before putting it back. "Who are you?"

"I'm your broker and I just wanted to talk about ..."

He was clearly in my account because he knew what my holdings were. It was some dude who worked there. I sent him packing, and then I started getting his "personal Schwab newsletter", which went straight to my junk folder.

I have no idea why they suddenly assigned this guy to me, and I did not welcome his presence. Now I know that some dude that I've never met occasionally looks in my stock account, and I've considered moving away from Schwab as a result.

MagicHef · 01-28-2021, 02:40 PM

Quote:

Originally Posted by neech

Good luck.

Thanks! Now we'll see if I'm allowed to keep it.

**Rain Man** · 01-28-2021, 02:44 PM

Quote:

Originally Posted by MagicHef

Help them? Robinhood sold their shares at the extreme low today. 45 minutes later would have made a >$800,000 difference to this customer.

On average, I mean.

If someone really lost that much money, I think a lawsuit is in order. But I'd also wait to see what the stock price is a month from now before filing it.

That whole situation is messed up, plain and simple.

jdubya · 01-28-2021, 03:21 PM

Quote:

Originally Posted by Rain Man

On average, I mean.

If someone really lost that much money, I think a lawsuit is in order. But I'd also wait to see what the stock price is a month from now before filing it.

That whole situation is messed up, plain and simple.

Top of the hour news on the radio I'm listening to just said there are 2 lawsuits filed already against RH. It did not give any specifics.

**DaFace** · 01-28-2021, 03:24 PM

Quote:

Originally Posted by jdubya

Top of the hour news on the radio I'm listening to just said there are 2 lawsuits filed already against RH. It did not give any specifics.

It's gonna be interesting to see what fun has been lurking in their TOS this whole time. I'm guessing they didn't do this without their lawyers signing off on it (not that that makes it any better).

06-27-2016, 11:23 AM
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01-28-2021, 02:11 PM	#6872
MagicHef The Seated Villain Join Date: Apr 2007 Location: Seattle Casino cash: $560247	Robinhood is now selling people's GME shares against their will. They are automatically selling shares. pic.twitter.com/o9XCdL9ND1 — Sunny (@555Sunny) January 28, 2021 __________________ With a sack in 61% of his games, SB MVP Von Miller is the most consistent pass rusher in NFL history.
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01-28-2021, 02:13 PM	#6873
Discuss Thrower "You like to drink?" Join Date: Jun 2006 Location: "I like to drink." Casino cash: $-160000	TD Ameritrade offers a referral bonus of $50. Send that along to anyone who uses RH. __________________ Chiefs 2016 Opponents: Home: JAX, TEN, NO, TB, NYJ. Away: HOU, IND, ATL, CAR, PIT Chiefs 2017 Opponents: Home: BUF, MIA, PHI, WSH, AFC North. Away: NE, NYJ, NYG, DAL, AFC South
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01-28-2021, 02:34 PM	#6876
Rain Man Seize life. Be an ermine. Join Date: Jul 2001 Location: My house Casino cash: $-452449 VARSITY	Yeah, that's not cool at all. I mean, it's probably going to help the people involved, but they bought at their own risk and they have the right to hold or sell at their own risk. That's really crossing a line that shouldn't be crossed. I guess I don't know if Robinhood is technically the money manager on those accounts or not. Maybe they've got the legal right in some fine print to make trades on the account holder's behalf, but if I had any money in Robinhood I'd be shutting down my account today. __________________ Active fan of the greatest team in NFL history.
Posts: 145,246	2 0

01-28-2021, 02:40 PM	#6881
Rain Man Seize life. Be an ermine. Join Date: Jul 2001 Location: My house Casino cash: $-452449 VARSITY	On a much more minor note, I've got an account at Schwab. I opened it online and have never spoken to a human being, which is how I want it. Except once. Years after I opened the account, I got a call out of the blue from someone I'd never heard of. He said, "I'm your broker at Schwab, and I'm going through your account. I see you've got XXX shares of this stock and YYY shares of that stock, and I'm wondering if perhaps we should move some to ZZZ mutual fund where I get paid a commission." (Well, he didn't say that last part, but it was obvious.) I took the phone away from my ear and looked at it in confusion before putting it back. "Who are you?" "I'm your broker and I just wanted to talk about ..." He was clearly in my account because he knew what my holdings were. It was some dude who worked there. I sent him packing, and then I started getting his "personal Schwab newsletter", which went straight to my junk folder. I have no idea why they suddenly assigned this guy to me, and I did not welcome his presence. Now I know that some dude that I've never met occasionally looks in my stock account, and I've considered moving away from Schwab as a result. __________________ Active fan of the greatest team in NFL history.
Posts: 145,246