Gamestop
- Thread starter Bonerfarts
- Start date
You have to be an accredited investor to invest in hedge funds. Net worth needs to be at least $1MM or an annual income of $200K ($300K if married). That would be considered middle class (what most would consider) in only a few areas of the country like San Fran, NYC, SD etc.
I agree with much of the rest of your post.
This. Congressman railing on the brokerages shutting down trading in specific stocks should familiarize themselves with Dodd-Frank, which they wrote. Rules in that act are forcing the brokerages to do this.
I wish i knew. With it being the last day of the month, I thought we would see a sell off at the end of the day, but the sell off looks like it’s happening now at lunchtime. I think there’s an end of the day rally until close and the after hours it swings back down. I hope I’m wrong though. With the extra volume I expect a big move one way of the other.
I have been buying these dips.
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There's almost always profit taking after the morning session, particularly on Fridays.
And that's on the low end. When I worked within the industry, many of the funds that I dealt with required a minimum investment of $20 M to get into the fund, many of them were multiples above that. The vast majority of the investors were institutional and those that weren't were very, very high wealth individuals/families, typically I called them the top 1% of the 1%ers. The only way for middle class folks to get into that sort of fund was to invest in another fund that then takes an investment position in the hedge fund.
Full disclosure, one of my former clients was Citadel and several of their investment funds.
I like GOOGL best long-term but not loading up more until $1720 or so. AAPL I will wait for $100-110, we'll see.
Looks like GME is now an inverse fund on the rest of my portfolio. GME goes up, everything else goes down. Gme goes down, everything else goes up.
The ceo of robinhood along with anyone else that played along yesterday need to be in jail. What they did has nothing at all to do with regulation although that is what they will try and hide behind. The direction needed to come from the SEC if it really was serious enough for trades to be shut down.
They essentially allowed the hedge funds to cover their shorts to some degree by disallowing retail investors to create more scarcity. They manipulated the markets to such a degree that most of them belong in jail. It is truly unforgivable.
The SEC should have halted trading if the danger was truly real to the broader market. I do think that danger was potentially there as hedge funds were needing to sell legitimate longs and crash those values in order to cover their shorts. The very fact that is true though also means those bastards belong in jail.
They are circling the wagons right now and the regulators so far seem to be in collusion with those they are supposed to be regulating.
By the way if the white house did pressure a stop order in buying gamestop that is impeachable. That is market manipulation in a way that has never been seen before. I highly doubt this is what happened but if it did....
They essentially allowed the hedge funds to cover their shorts to some degree by disallowing retail investors to create more scarcity. They manipulated the markets to such a degree that most of them belong in jail. It is truly unforgivable.
The SEC should have halted trading if the danger was truly real to the broader market. I do think that danger was potentially there as hedge funds were needing to sell legitimate longs and crash those values in order to cover their shorts. The very fact that is true though also means those bastards belong in jail.
They are circling the wagons right now and the regulators so far seem to be in collusion with those they are supposed to be regulating.
By the way if the white house did pressure a stop order in buying gamestop that is impeachable. That is market manipulation in a way that has never been seen before. I highly doubt this is what happened but if it did....
essentially whats happening in gme is taking the down the rest of the market.
robin hood ran out of money, they called everyone with money yesterday to save their business. they were hours away from going under.
Yep....
My AMC is showing a gain of $3400 today, but my total account is down $350 overall.
Glad I got in on it, as it's proving to be a great hedge against the rest of the market tanking.
I agree, but a net worth of a million is not a lot and there are plenty who make a bit less than that annually that have a net worth of at least a million. These people and families would be considered middle class in A LOT more areas of the country than the ones you pointed out. It doesn’t take much for someone to become an accredited investor.
That isn't an excuse even if true.
They need to go out of business regardless. Their real business is selling retail investors trades to hedge funds prior to executing the trade. That came to light this week in a big way so excuse me if I don't buy they didn't have access to capital number one and number two holy manipulative bullshit as a general business practice.
How the hell can that be legal? We are going to accept money to tell you which way the market is going to move because we have the orders and we will tell you before executing the trades.
They belong in jail period
There aren't many, if any middle class investors in these hedge funds. There are middle class investors in the pension plans that are in these hedge funds.
its legal because they tell their customers they are selling their data. how do they think they are getting free trades? Im not saying it should be legal, but it is and robin hood isnt the only place doing this.
The customers knowledge has nothing at all to do with market manipulation which is exactly what has been happening here. One market maker has access to orange juice futures before the market opens. It is unreal this has been allowed to happen
The feeling when people figure out they're the product, not the customer.
And it's totally legal.
its actually several market makers that do this, i agree it shouldnt be legal but it absolutely is legal. citadel securities makes more money for ken griffin than his hedge fund.
The shorts aren't budging.
www.cnbc.com
GameStop short sellers are still not surrendering despite nearly $20 billion in losses this month
"In actuality the data shows that total net shares shorted hasn't moved all that much," Ihor Dusaniwsky of S3 Partners said.
The shorts aren't budging.
GameStop short sellers are still not surrendering despite nearly $20 billion in losses this month
"In actuality the data shows that total net shares shorted hasn't moved all that much," Ihor Dusaniwsky of S3 Partners said.
to be fair its not the same shorts and some have already made a lot. i saw a short sale at $490.
Too big (much $ they can't cover) to fail.The shorts aren't budging.
GameStop short sellers are still not surrendering despite nearly $20 billion in losses this month
"In actuality the data shows that total net shares shorted hasn't moved all that much," Ihor Dusaniwsky of S3 Partners said.
I know, but for those guys holding on all that matters is the net.
This is all silly, but it's driven up volatility everywhere. That's good for me.
If you were to look at a hedge Fund's client list, it would be mostly pensions, endowments and very high net worth individuals. Middle class folks don't write big enough checks to make them worthwhile clients (at least a recognizable named hedge fund). Maybe some friends and famly make the cut, but they're few and far between. Just because you pass the accredited investor minimum, doesn't mean you're going to have access to most of these funds. It just means you're eligible.
Individuals with access to recognizable hedge funds are almost universally what we would consider rich (at least $10MM.....and that would be a "poor" client).
The middle class folks impacted by this are/were on the long side. Hopefully, they've exited their positions.
I’m not familiar with anything beyond blackout dates which are usually in between the end of a quarter and the earnings announcements.
you could be right but I’m simply unaware of what you’re referring to.
edit to say this is so unusual of a situation that we actually have a setup where EVERY INSIDER has a reason to bail on their ownership.
Except that yesterday was the dip. Today is on the spike. Where on that spike is the question.Seems like I've posted this before but....
GME has already went up much more than this chart. VW only went up 5 fold roughly and GME is closer to 20 fold already. "You are here" would be off this chart.Seems like I've posted this before but....
if all that matters is the net this could go own for a long time.
