Buying one stock and managing to make yourself a meme and manipulate the price yourself is quite an achievement.
Not exactly trading though, the guys that have been doing it for a lifetime across various sectors you can call good traders.
Trading the stockmarket (NO Referrals)
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Not exactly trading though, the guys that have been doing it for a lifetime across various sectors you can call good traders.
It is pretty funny what he's doing. Goes silent for years, then quietly buys 5,000,000 $20 calls for 21st Jun, and a few weeks before launches a few memes that triggers the WSB crowd YOLOing.
Regulators are sitting around wetting themselves trying to decide if it's market manipulation. All he's done is take a big position and publicise it.
$290mil his position is worth atm. Fair play.
Regulators are sitting around wetting themselves trying to decide if it's market manipulation. All he's done is take a big position and publicise it.
$290mil his position is worth atm. Fair play.
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Wondered why the S & P 500 took off yesterday. This can't go on surely...
news.sky.com
Nvidia overtakes Apple as world's second most valuable company
The American firm has been one of the biggest beneficiaries of the AI boom.
Wondered why the S & P 500 took off yesterday. This can't go on surely...
Nvidia overtakes Apple as world's second most valuable company
The American firm has been one of the biggest beneficiaries of the AI boom.
Actually don't see why not. If AI is going to take so many jobs and nvidia has such influence in that space, I don't see why it has to crash back
It was worth that yesterday even!
Nah, he's got a long way to go for that and I don't think market manipulation would be sufficient to get there. One of the best of all time passed away last month worth $31.4 billion:
Jim Simons - Wikipedia
en.wikipedia.org
Passing away with 30bln.
Blows my mind how people don't just spend it waaaay before that.
The thing is what would he spend it on?
A few big houses, a jet, a yacht etc. doesn't really put a dent in that - sure Arab royalty might build palaces or use a 747 as a private jet but lots of other wealthy people are happy with a regular Gulfstream or Learjet and normal mansions so it ends up with there not necessarily being much difference in terms of lifestyle between a person with 100 million or 1 billion or 10 billion. The billions just become a reflection of their business success.
I can't understand how people even get to that point. They must love it. Because, like you say, you can't spend it.
I guess that's why very few people get there. You just quit at 1mln, 10mln, 100mln etc.
I'd say the opposite I can't understand why they'd quit, it seems like a very money-centric perspective.
Like Taylor Swift or Michael Jackson say make one hit album and then retire, don't ever make music again because they've got a few million now?
Or some newly signed premier league footballer just played one season and quit with 1 million.
The money is the side effect of their success - why would retiring and watching TV all day or doing the gardening be more interesting than being a pop star or running a massively successful business or playing sports at a high level.
Once someone has built a successful fund or trading business to that level they're not necessarily actively managing money anymore (in Simon's case it's all systematic anyway) but rather managing the overall business or eventually in his case stepping back and acting as Chairman. But I guess once someone has built something like that they're going to carry on having some involvement, Bill Gates was still on the board of Microsoft until 2020 20 years after stepping down as CEO in 2000 and 12 years after stepping down from any day to day employee role there in 2008, but he's still a technical advisor of some sort today).
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Soldato
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That's fine if you are already pursuing your dream. Many who make bank aren't though and quit to pursue more meaningful goals.
dude once your at that point, their work isn't the same as our work...
even in my situ, my bosses sit there on 100k+ a year telling us what to do... and the troops do the leg work.
he would have teams of researches, advisors and people doing his maths... he's just looks at the report and say yeh or nah..
Some people have a easy worklife and don't need to retire, loads of my prevously bosses try it on and just delegate everything but some of them are not at that management stage or have the staff where they can stop being hands on.
I assume that is it. That work is the thing they love?
I can't get my head around it from my perspective. I guess if you have all the money in the world what drives you must be different to the average pleb. Obviously that's true. It's just hard to conceptulise.
If you don't like what you do you'll probably "quit" long before you get to billions. But if you love it.. Its not "a job". Can't imagine it I suppose
Caporegime
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Wondered why the S & P 500 took off yesterday. This can't go on surely...
Nvidia overtakes Apple as world's second most valuable company
The American firm has been one of the biggest beneficiaries of the AI boom.
With nvidia they're not trying to make money out of AI. They're selling the hardware to everyone else trying to make money out of AI, even if AI doesn't make anyone any money eventually they'll be a lot of hardware sold.
That's true to start with but sooner or later people stop buying if they arent making money from it. Even if they do keep buying the expectations for growth are now so high even a slight dip will cause a massive selloff.
For sure, like if work is working in a random IT job or working as an accountant then many would maybe quit if they won say 5 - 10 million on the lottery.
But alternately some accountants do really well and become say partners in a big accounting firm or become CFOs in a big company - they don't necessarily quit at 5 - 10 million net worth, their work has changed, they're not doing grunt work anymore, they've got a bit of status etc.
If someone is say in their 30s or 40s then what are they going to do if they suddenly get a few million - maybe take a world tour for a year but then what?
Maybe the wife wants a cafe/bookshop. Maybe when buying a nice house in the countryside they end up with a small hobby farm or some holiday cottages they stick on Airbnb.
So they're back to "work" again but it's not grunt work, it's being the boss of a (small) business doing something they enjoy.
They typically do - Warren Buffet does and Jim Simons did make big donations to charity.
But a stock market trader is a bit of an exception in terms of making cash, most billionaires aren't making more and more cash but rather the stock they own in the company they founded is increasing in value and that's a reflection of successfully doing something useful.
Not all charity work is particularly efficient or effective, it's seen as noble and say Jeff Bezo's ex-wife will get loads of positive publicity for donating a fortune to a bunch of charities and nonprofits, it's questionable how much good multiple millions spent on some diversity or immigration-related non-profit will do. Whereas Jeff himself has built a great business - that is in itself doing way more good in the world through providing useful products and services and providing employment for over a million and a half people.
Soldato
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It's at discount to the current price at least so why not? Unless believe the business is in decline but I don't believe that to be the case.
I think more often than not rights issues tend to work out well in the long term, at least that's been my experience. Last one I can remember is British Airways (IAG) raising cash. Not looked but was probably carried out at a lower price than they're trading at today.
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Not sure I agree amazon is doing good in the world.
We all like it, it drives capitalism. But it's destroyed a lot of jobs and business and created a lot too.
If I wom/acquired loads I'd set my own charity up. Because yeah.. A lot of charities waste a lot too.
I do sometimes wonder what it would be like to genuinely not have to even think about what you spend. I don't "worry" about money. But to not even think about it? That's something else.
Soldato
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If I won millions today I'd retire and be happy not working. No chance in hell I'd be back at work just for something to do.
Lets be honest, its not work like normal people are doing is it.
Me either. I'd probably permanently travel. Ie no fixed abode if I had that much.
Spend 6 months somewhere in southern hemisphere. Then north and just explore world renting.
If didn't have to worry about funding a retirement now it would be amazing.
But that's what I'd do.