|
![]() |
#6901 |
The Seated Villain
Join Date: Apr 2007
Location: Seattle
Casino cash: $1470247
|
You can't actually believe this.
__________________
With a sack in 61% of his games, SB MVP Von Miller is the most consistent pass rusher in NFL history. |
Posts: 10,670
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#6902 |
MVP
Join Date: Sep 2004
Location: San Diego, CA
Casino cash: $913342
|
The **** it is. This whole thing basically bankrupted Melvin (hedge fund), and Citadel helped bail them out. The guy who founded Citadel owns a huge stake in Robinhood, so he made a call. This is protecting the hedge funds, and has nothing to do with protecting its users. I hope RH gets buried over this.
|
Posts: 5,160
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#6903 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2018491
![]() |
To me, this is an interesting comparison of "market mentality" versus "pump and dump". It's illegal to pump an dump, so what were the motivations and actions of the people who started this?
Of course, we all know that the game is rigged anyway. I bet 0.00000001 percent of insider trading is investigated, and then you've got things like that one big player rigging the software to execute their trades a microsecond before retail trades so they can take the difference. Sometimes I worry a bit that the entire stock market is an unintentional ponzi scheme and at some point someone will do some math and the whole thing will collapse. For example, I give some money to google via stock that they use to fund growth. The promise that I get in return is that they'll grow and I'll then be able to sell the stock to the next people, who themselves buy it on the promise that google will grow. It seems kind of pyramid-like. With dividend stocks I like the equation better, because I'm getting a return on my money, but with non-dividend stocks I sometimes feel like I'm buying air.
__________________
Active fan of the greatest team in NFL history. |
Posts: 142,337
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#6904 |
MVP
Join Date: Oct 2012
Casino cash: $-370000
|
So should i remove all investments from robinhood with a class action suit being filed?
__________________
Adopt-A-Chief- Rachel Santschi
![]() |
Posts: 11,512
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#6905 |
The Seated Villain
Join Date: Apr 2007
Location: Seattle
Casino cash: $1470247
|
The motivations were pretty simple. By over-shorting GME, hedge funds essentially forced themselves into a captive market. Someone noticed and decided to try to take advantage to make money.
__________________
With a sack in 61% of his games, SB MVP Von Miller is the most consistent pass rusher in NFL history. |
Posts: 10,670
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#6906 |
2 Legit 2 Colquitt
Join Date: Sep 2010
Casino cash: $3705754
|
The people calling it a pump and dump are way off base. This is not a pump and dump. WSB are buying and holding trying to cause a short squeeze. Look at what happened to VW in 2008. The squeeze has not happened yet. If that happens it will be like something out of a movie. Ever see Trading Places?
|
Posts: 4,743
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() ![]() ![]() |
![]() |
#6907 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $726899
|
Quote:
|
|
Posts: 52,212
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#6908 |
The Seated Villain
Join Date: Apr 2007
Location: Seattle
Casino cash: $1470247
|
After reading more about how Robinhood actually makes its money, I am removing my investments and moving to a real brokerage.
__________________
With a sack in 61% of his games, SB MVP Von Miller is the most consistent pass rusher in NFL history. |
Posts: 10,670
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() ![]() ![]() |
![]() |
#6909 |
Cheat Death
Join Date: Nov 2007
Location: Land of Drincoln
Casino cash: $988244
|
How does one move out of RH to another platform?
|
Posts: 34,773
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#6910 |
The Seated Villain
Join Date: Apr 2007
Location: Seattle
Casino cash: $1470247
|
The value in GME is not in the financial performance of the company, but in the volume of shorts.
__________________
With a sack in 61% of his games, SB MVP Von Miller is the most consistent pass rusher in NFL history. |
Posts: 10,670
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() ![]() ![]() |
![]() |
#6911 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2018491
![]() |
Quote:
And that's not even considering my big picture question of how the market outperforms inflation over time. It leads to bigger and bigger discrepancies between the stock market and the rest of the world. It's kind of the only game in town so I keep playing it, but I try not to think about what the foundation is under this big house of cards.
__________________
Active fan of the greatest team in NFL history. |
|
Posts: 142,337
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#6912 |
Banned
Join Date: Jan 2013
Casino cash: $9998560
|
This actually worked out for me real well. My orders placed last night and to fund at opening were all cancelled by RH and cleared it out. I transferred to Fidelity and bought the dip.
|
Posts: 53,803
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#6913 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $726899
|
|
Posts: 52,212
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() ![]() ![]() |
![]() |
#6914 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2018491
![]() |
Quote:
These days there are so many games played around betting and leveraging and options and stops and stuff that I've probably never heard of. I wonder how much money is actually invested in stocks versus the money that's invested in placing bets on the financial manipulations surrounding stocks. I understand theoretically why that stuff exists, but it's all poker. It's money that's not invested in anything but trying to guess the behavior of other people.
__________________
Active fan of the greatest team in NFL history. |
|
Posts: 142,337
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#6915 |
MVP
Join Date: Jan 2012
Casino cash: $3655025
|
Robin Hood isn’t alone. I just heard Ameritrade and Schaub have done the same.
__________________
"I know you think you understand what you thought I said but I`m not sure you realize that what you heard is not what I meant" |
Posts: 6,105
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() ![]() |
|
|