America & World IV: Trump's Taxing Day

[Golgo]

Can we get Charles to float Bordersdown.net on the Stock Market?

[Asura]

This was basically my perspective when I posted earlier.

[saif]

I used to work at a bank and we used to have these "lunch and learn" things and each of the trading desks would have a session and explain what they do while we tucked in to semi-decent sandwiches. I understood, largely, the markets but I always like the way that the presentation part would stay away from any casino language at all - often quite obviously. But then when the Q&A part came, almost all the trades would have to be described as bets eventually because that is what they were.
The stock market has a purpose but the industry has abstracted away from that via speculation for decades and decades.

Most banking products have their birth in legitimate business risk management and then people found out that they could then manipulate the markets doing this. As [MENTION=25]charlesr[/MENTION] said, SIGNAL shares went up in spite of being unrelated. The same happened with Zoom last year. Again, I was told that you should always think about what kinds of products those traders see - the beers sold in the kinds of bars where traders go will do better than their fundamentals suggest.

[Anpanman]

This was basically my perspective when I posted earlier.

That's brilliant and I completely agree, you had these twat's getting rich of the back of other peoples misery from companies going pop, same with sub-prime's and now they are losing they cry and want protection.

I'm sure it was the PM of Malaysia that went to war with these types of investors a good few years ago and they didn't like that either.

[wakka]

I've been following it and its not about making money as the stock will most likely nose dive once the sell off starts which means some people will loose money. it was about stopping hedgefunds destroying companys by setting them up to fail they tied to do this by shorting 100% of gamestops stock to try and push the company into a downward spiral to make a quick bit of cash. that's pretty ****ty and shouldn't be a thing.

Whats happened here though is the opposite buying and holding the stock has pushed the value of the stock up instead of down as its an in demand stock, the shorters are desperate to get back in to cash out they expected it to drop so are currently making massive potentially unlimited losses. No matter what the outcome i think its bloody fantastic that its upset wallstreet so badly.

There's definitely a meme that it's all about ****ing over Wall Street, but in reality the vast majority of the money in GameStop shares is there to make mad gainz. A good proportion of it at this point is going to be Wall Street money. Not every hedge fund was short GameStop - only a couple. The others are making out like bandits.

Reminds me of the Bitcoin rhetoric that it's 'All about the technology'. But in reality the true believers in this stuff just end up being bagholders for the smart money, which takes profits.

[Lebowski]

https://www.youtube.com/watch?v=t95Hxz6xioQ&ab_channel=TheHill

this is a good look at whats happening and why its got a lot at the top scrabling about to stop it.

[wakka]

Oh yeah, the funds who are short are definitely using every dirty trick possible to try and end this. I just don’t believe that the majority of investors are actually in it for the activism angle. It’s more a bonus on top of the sweet (potential) profits.

[charlesr]

It's all very exciting whatever.

[Dogg Thang]

This Twitter thread has a bit more to the story - https://twitter.com/endtwist/status/...133051393?s=21

[Cassius_Smoke]

It's a fascinating story, but the stock market still makes no sense to me. Seems like if you are in the know and have money in the bank you can pump the stocks any way you wish and get rich.
It's all coke and hookers.

[Brad]

I don't know all the details and I don't care to but it sounds like some people who gamble for a living had a bet that didn't pay off. Like when a horse falls over in the grand national except that these gamblers have always had inside information in the past and, like Trump, are sore losers, and I'm fine with that.

[fishbowlhead]

It's a fascinating story, but the stock market still makes no sense to me. Seems like if you are in the know and have money in the bank you can pump the stocks any way you wish and get rich.
It's all coke and hookers.

It doesn’t make sense because its not supposed to. Its a made up thing selling nothingness thats been plucked out of thin air to make people with money, more money, out of more thin air.

[Cassius_Smoke]

It doesn’t make sense because its not supposed to. Its a made up thing selling nothingness thats been plucked out of thin air to make people with money, more money, out of more thin air.

Doesn't he basically say that in Wolf of Wall Street? None of it exists. You are buying and selling nothing.

[MartyG]

They need not worry, Trump will be able to rescue them on March 4th https://www.independent.co.uk/news/w...-b1792830.html

[Asura]

They need not worry, Trump will be able to rescue them on March 4th https://www.independent.co.uk/news/w...-b1792830.html

I think we should flip the script and totally get behind this.

"Oh yeah, definitely March 4th."
"Totally, he's going to be president again on March 4th."
"I mean, if he's not president again on March 4th, this whole thing... Nah, it's gonna happen."
"He'll be president on March 4th, I mean, otherwise this is all just bull****, right?"