Capitalist Vigilantes

Narj

Narj

Narj

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Anyone else followed this with interest?

https://www.reuters.com/article/us-gamestop-melvin-idUSKBN29X0EN
https://www.bloomberg.com/news/vide...-some-hedge-funds-to-bankruptcy-gartman-video

I note the calls for investigation - it's fine when these billionaire groups and their mates do it, but as soon as Joe Public stiffs them, it's market manipulation.

Are we finally seeing the worm turning and could this become a regular thing? I must admit I've never been a fan of short selling at all and if the little guy can flip these guys over I'm all for it.

In such grim times, this is the best sort of schadenfreude. I'm not about to sink my money into any of these shares but wow is it entertaining! :D
 
Stock market thread in GD following this closely.

First Reuters article mentions Citadel bailing out Melvin; Citadel own Robinhood who have been closing peoples positions on their behalf. Nuts.
 
dLockers said:
Stock market thread in GD following this closely.

First Reuters article mentions Citadel bailing out Melvin; Citadel own Robinhood who have been closing peoples positions on their behalf. Nuts.
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Ah sorry, I don't read that thread. My job means I can't trade the stock market without extreme ball-ache so I never read it really.
 
I saw this today on the Beeb. Nasty piece of work from the higher up guys, and the hedge fund managers only seem to care when they're losing. They know they're butt-hurt because they have been out-smarted by uni students. Imo, let the students have that £1000. A bag per student will go a longer way and be far more useful to them than to the top dogs who already own millions in £££'s and assets.

I can see an Occupy Wall Street 2.0 potentially brewing...!
 
Crack on I say. I also think this should remain a separate thread as it's diverged in to two different topics really.

Having worked as an engineer in a very famous bank, on the dealing floors, I say give these guys absolute hell. The more they suffer, the better. They deserve it, trust me.
 
Pawnless Endgame said:
I saw this today on the Beeb. Nasty piece of work from the higher up guys, and the hedge fund managers only seem to care when they're losing. They know they're butt-hurt because they have been out-smarted by uni students. Imo, let the students have that £1000. A bag per student will go a longer way and be far more useful to them than to the top dogs who already own millions in £££'s and assets.

I can see an Occupy Wall Street 2.0 potentially brewing...!
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Yeah sly shutting down of trading is leaving a very nasty taste in the mouth for many. I hope the hedgies get rekt and that this is a renewed drive for a spotlight on the 1% and those who make money from the misery of others.

Sorry for the overlap with the stock market thread, mods please delete/merge if appropriate.
 
And then you have the likes of Rubio wading in because of his intricate knowledge of the economy and trading, and a rampant desire to see the right thing done at all costs. Wait, I mean a bunch of hedge fund lobbyists have been up his arse and he's sold his soul for campaign funds.
 
Narj said:
This article seems to sum it up: https://www.bloomberg.com/opinion/a...squeeze-is-rage-against-the-financial-machine

Righteous anger - I love it :) Something is really stinking and I am ordering in gallons of popcorn!

PS: props for Louis Rossman vid :D
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That's a really interesting article and he's spot on about the paradigm shift around how the hedge funds are perceived. I wonder what led that? Is it the case that when you have the money you are then apart of the problem, so the same people who have changed or are perceived to have changed, or is it the case that the mechanism is now part of the establishment, so alongside the original short selling funds you now have the established institutions doing the same.

It's fascinating, but what I will say is that regardless of how this ends it's clearly a symptom of huge disenfranchisement and a lack of belief in the system. I read an article a few days ago about the American dream being a broken contract, the ideology is still there but now the promise is effectively unattainable. Interesting times ahead.
 
FortuitousFluke said:
It's fascinating, but what I will say is that regardless of how this ends it's clearly a symptom of huge disenfranchisement and a lack of belief in the system. I read an article a few days ago about the American dream being a broken contract, the ideology is still there but now the promise is effectively unattainable. Interesting times ahead.
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People have always seen them as being at the wrong end of the ethical balance IMO. It just seems to have bubbled over now.
 
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Forgive my ignorance. I will happily admit I know absolutely nothing about trading.

Did someone run their mouth about what positions they were taking that allowed this gamestop thing to happen? How would Joe Bloggs have known there was a long term short on it by hedge funds?
 
Completely o/t but this brought back memories of a hotel I stayed at in Seville, Spain in the early eighties.
I went to the bar one night, and asked for ”coñac por favor.”
The barman produced a bottle of Fundador, Spanish brandy, I said, “No graçias, tienes coñac francés?”
He produced a bottle of Rémy Martin, which I thanked him for.
After that, every time I went to the bar he’d greet me with, “Buenos dias señor capitalista!”
 
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FortuitousFluke said:
That's a really interesting article and he's spot on about the paradigm shift around how the hedge funds are perceived. I wonder what led that? Is it the case that when you have the money you are then apart of the problem, so the same people who have changed or are perceived to have changed, or is it the case that the mechanism is now part of the establishment, so alongside the original short selling funds you now have the established institutions doing the same.

It's fascinating, but what I will say is that regardless of how this ends it's clearly a symptom of huge disenfranchisement and a lack of belief in the system. I read an article a few days ago about the American dream being a broken contract, the ideology is still there but now the promise is effectively unattainable. Interesting times ahead.
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Interesting times ahead.

Especially when automation increasingly means many of us won't have any useful/essential work to do. Or any paid work at all.

Lots of poor, unemployed people will be seen as a drain by the people at the top. By both the ruling classes and the other elites.

I keep thinking we're going to sooner or later head to a situation where our societal contract breaks down completely. The rich will have no need of us, there will be far too many of us to all live on welfare. I still think there will come a time when basically the poor are cut loose and the population allowed to downsize, for want of a better term.

The 1% continue to take an ever-greater share, and it's beyond obvious at this point that the 1% basically own the politicians and make the rules, that the rest of us live by.
 
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