Off Topic Thread 5.0

Looks like Senate won't be convicting Trump, I don't wanna say I told you so...

actually I do, I told you so!!!

The Inbetween is mine

[Deleted User] wrote: »

Looks like Senate won't be convicting Trump, I don't wanna say I told you so...

actually I do, I told you so!!!

It was obvious after last week's flip flop by many senior republicans, they can't afford to have him impeached

aloooof

This goes from bad to worse...

https://twitter.com/POLITICOEurope/status/1354379013670768642

swiwi_

[Deleted User] wrote: »

Looks like Senate won't be convicting Trump, I don't wanna say I told you so...

actually I do, I told you so!!!

I have faith in Venjur’s predictions. It’s not over yet.

Neil3030

$300 now.

This is absolutely hilarious.

I'm fighting every urge to not get involved with some puts.

Just want to enjoy the show.

Squidgy Black

Neil3030 wrote: »

$300 now.

This is absolutely hilarious.

I'm fighting every urge to not get involved with some puts.

Just want to enjoy the show.

Mate of mine got in at $40 and almost had a panic attack yesterday when it dropped again.

I've absolutely no interest in buying but it's hilarious to witness.

Neil3030

Gamestop's market cap has exceeded the nominal GDP of Iceland.

Interested Observer

I presume it's going to crash soon enough?

Dave_The_Sheep

Nasdaq will suspend trading on stocks if they detect abnormal social media talk around it.

Of course. Can't be having 'regular folks' dick around with the market.

(Yes, I know it's not that simple)

This interview is incredible

https://www.youtube.com/watch?v=NvEWez59fbI

swiwi_

Neil3030 wrote: »

Gamestop's market cap has exceeded the nominal GDP of Iceland.

It’s at this time of year that Iceland’s assets are frozen.

Neil3030

swiwi_ wrote: »

It’s at this time of year that Iceland’s assets are frozen.

Won't find many shorts there either.

sydthebeat

[Deleted User] wrote: »

This interview is incredible

https://www.youtube.com/watch?v=NvEWez59fbI

You'd need to break that down for me, but is that CEO basically predicting the next global financial crisis to be hedge funds that are seriously over valued?

irishbucsfan

sydthebeat wrote: »

You'd need to break that down for me, but is that CEO basically predicting the next global financial crisis to be hedge funds that are seriously over valued?

Yes. A couple of days after launching his campaign to be governor of California

He’s a venture capitalist

sydthebeat

sydthebeat wrote: »

You'd need to break that down for me, but is that CEO basically predicting the next global financial crisis to be hedge funds that are seriously over valued?

I'd have to watch it again but that wasn't what I took away from it. He's talking about how freaked the hedge funds are. How they are trying to paint a picture as if this is some disaster that retail traders are orchestrating whereas this is what hedge funds have been doing for years. They don't like it when they have to foot the bill. It's Melvin and Co's fault for shorting beyond 100% in the first place. The pumping of gme has turned into a big "**** you" by anyone who lost out in 2008 without it being their fault ie everyone.

sydthebeat

Deleted User wrote: »

I'd have to watch it again but that wasn't what I took away from it. He's talking about how freaked the hedge funds are. How they are trying to paint a picture as if this is some disaster that retail traders are orchestrating whereas this is what hedge funds have been doing for years. They don't like it when they have to foot the bill. It's Melvin and Co's fault for shorting beyond 100% in the first place. The pumping of gme has turned into a big "**** you" by anyone who lost out in 2008 without it being their fault ie everyone.

finances isnt my area so i have a clue about stocks etc... but are the small time redditors not actually loosing their money by buying shares causing the company to be so over valued?

MaybeMaybe

sydthebeat wrote: »

finances isnt my area so i have a clue about stocks etc... but are the small time redditors not actually loosing their money by buying shares causing the company to be so over valued?

buy low, sell high. if they can sell now while it's high they will make an easy profit. it has risen from $40 to over 340 in the past 5 days. the timing is everything. the thing is all they can lose is their initial investment. In theory, the short sellers can suffer infinite loses.

this episode of Darknet Diaries is related to short selling and a worth a listen
https://darknetdiaries.com/episode/79/

b.gud

Deleted User wrote: »

I'd have to watch it again but that wasn't what I took away from it. He's talking about how freaked the hedge funds are. How they are trying to paint a picture as if this is some disaster that retail traders are orchestrating whereas this is what hedge funds have been doing for years. They don't like it when they have to foot the bill. It's Melvin and Co's fault for shorting beyond 100% in the first place. The pumping of gme has turned into a big "**** you" by anyone who lost out in 2008 without it being their fault ie everyone.

This interview was actually from March last year so it wasn't specific to the current GME saga. I thought it was about GME when I first heard it but was surprised that he hadn't mentioned Gamestop specifically and then noticed the date. So while he didn't predict gme specifically, ie random retail investors screwing over hedge funds he did point out the issues that were going to happen with hedge funds

errlloyd

sydthebeat wrote: »

finances isnt my area so i have a clue about stocks etc... but are the small time redditors not actually loosing their money by buying shares causing the company to be so over valued?

To add to what MaybeMaybe said.

The reddit strategy in theory is this.

1: Buy shares, drive up the value.
2: Increasing value forces the short sellers to now also buy shares to cover their positions.
3: The short sellers buying increases the value.
4: The redditors then sell at a value that has been inflated by the shorts.

That's the theory.

I wouldn't rule out that a relatively small number of influential redditors are actually playing everyone and they intended to create a bubble that they have probably already exited.

b.gud

b.gud wrote: »

This interview was actually from March last year so it wasn't specific to the current GME saga. I thought it was about GME when I first heard it but was surprised that he hadn't mentioned Gamestop specifically and then noticed the date. So while he didn't predict gme specifically, ie random retail investors screwing over hedge funds he did point out the issues that were going to happen with hedge funds

Oh lol I shared the wrong interview

CNBC have taken it down https://www.youtube.com/watch?v=2h7jfNpL4QA&feature=youtu.be&ab_channel=vonsek

Found it

https://www.youtube.com/watch?v=7u-i1OFEvGI

I am a bit of a Chamath Palihapitiya fanboy so maybe I'm biased. As someone else said already, it's worth mentioning that he is allegedly planning on running for governor of Calaforina so he may have ulterior motives.

MaybeMaybe

errlloyd wrote: »

To add to what MaybeMaybe said.

The reddit strategy in theory is this.

1: Buy shares, drive up the value.
2: Increasing value forces the short sellers to now also buy shares to cover their positions.
3: The short sellers buying increases the value.
4: The redditors then sell at a value that has been inflated by the shorts.

That's the theory.

I wouldn't rule out that a relatively small number of influential redditors are actually playing everyone and they intended to create a bubble that they have probably already exited.

I'm not following the whole thing much but there's one guy that has been posting screenshots of his holdings or options in GME since 2019, the total value had risen from ~117k at the end of 2019 to 47m yesterday

MaybeMaybe

MaybeMaybe wrote: »

I'm not following the whole thing much but there's one guy that has been posting screenshots of his holdings or options in GME since 2019, the total value had risen from ~117k at the end of 2019 to 47m yesterday

I think when that guy sells, it's over

Former Former Former

errlloyd wrote: »

I wouldn't rule out that a relatively small number of influential redditors are actually playing everyone and they intended to create a bubble that they have probably already exited.

I think so. The idea of the little guy screwing the fat cats is great on paper but it doesn't usually pan out that way. I think when the dust settles, a few people will have made a LOT of money but a lot more will be left with stock-themed toilet paper.

mfceiling

Well the dodgy knee was sorted out on the operating table about 2 hours ago.
Surgeon very happy with how it went and to be fair there isn't an ounce of pain. This might change when the painkillers wear off to be fair!!

errlloyd

mfceiling wrote: »

Well the dodgy knee was sorted out on the operating table about 2 hours ago.
Surgeon very happy with how it went and to be fair there isn't an ounce of pain. This might change when the painkillers wear off to be fair!!

I got some steroid injections in the knee recently. I got the jab at 7pm. The surgeon didn't tell me that the painkillers were going to wear off in around 10 hours. At 5am I woke up in absolute tear-jerking pain. Stayed like that all day.


Edit : But ehhhh, you shouldn't worry at all. Good luck!

Deleted User

Deleted User wrote: »

Looks like Senate won't be convicting Trump, I don't wanna say I told you so...

actually I do, I told you so!!!

It might have passed last week when the outrage was peaked but American politics is clearly far too unhealthy to do the right thing.

swiwi_ wrote: »

I have faith in Venjur’s predictions. It’s not over yet.

Will be down to civil suits and the criminal justice system at this point so yeah - I'd say it's fairly over!

Buer

Eh, so the German vaccine commission has recommended the AZ vaccine isn't given to over 65s....

Buer

Buer wrote: »

Eh, so the German vaccine commission has recommended the AZ vaccine isn't given to over 65s....

It doesn't mean it won't be effective - they just don't have the data. I suspect it will turn out to be sufficiently effective and hope this is the case, if not it's a big setback.

But yeah - this is so political now and the british papers are going all in so I think things are going to get nasty.

Buer

Oh I know. My point was that the journalist who broke it actually had some accuracy in his piece. What makes it all the more strange is that German government officials denied it the day after at which point the journalist doubled down with a second article claiming his sources were solid.

Buer

Buer wrote: »

Oh I know. My point was that the journalist who broke it actually had some accuracy in his piece. What makes it all the more strange is that German government officials denied it the day after at which point the journalist doubled down with a second article claiming his sources were solid.

I thought the denial was in relation to the 8% effectiveness?