Lol, yeah. That's what I get for fucking off here and working at the same time.
Err... Trick question, you just pocket the revenue and lose nothing!
It is almost like everyone who isn't Wall Street, their media cronies or corrupt regulators, hate Wall Street.Wall Street getting fucked. Robinhood announced they are opening back up in limited fashion. Too late. I want them all in jail and the list can start with those in TV talking about how this was done to protect themselves to stop the rise.
Will be watching AOC on twitch. They escaped prosecution in 2008. Ironically enough I believe it's Trumpers and MAGA getting the Republicans on board because this time it won't be a peaceful clap your friend Occupy Wall Street. The insurrectionist crowd is coming for them because they also got screwed.
Lol, yeah. That's what I get for fucking off here and working at the same time.
Err... Trick question, you just pocket the revenue and lose nothing!
Wall Street getting fucked. Robinhood announced they are opening back up in limited fashion. Too late. I want them all in jail and the list can start with those in TV talking about how this was done to protect themselves to stop the rise.
Will be watching AOC on twitch. They escaped prosecution in 2008. Ironically enough I believe it's Trumpers and MAGA getting the Republicans on board because this time it won't be a peaceful clap your friend Occupy Wall Street. The insurrectionist crowd is coming for them because they also got screwed.
Except it's wrong.I guess that letter from Congress more clearly explains the connection than the tweet I posted.
Fucked up all the same.
So basically, rich shitheads tried buying up stock in a failing business to make bank, and now they're freaking out that regular people beat them to it?
It's the opposite. They borrowed shares from other shareholders and promised to give them back by the end of the month, roughly, and now have to frantically buy them regardless of how expensive they are in order to give them back.So basically, rich shitheads tried buying up stock in a failing business to make bank, and now they're freaking out that regular people beat them to it?
The fact that you're even calling it a relationship feels like a stretch.
More like rich shitheads betting a stock would collapse, and so Reddit bought lots of stock to raise its value. The terms of the bet mean the rich shitheads have to buy the stocks back at whatever price they are now, and thatll drive the price even higher.So basically, rich shitheads tried buying up stock in a failing business to make bank, and now they're freaking out that regular people beat them to it?
More like rich shitheads betting a stock would collapse, and so Reddit bought lots of stock to raise its value. The terms of the bet mean the rich shitheads have to buy the stocks back at whatever price they are now, and thatll drive the price even higher.
Billions lost.
It's complicated but Dodd Frank made proprietary trading illegal. And HFTs killed off most market making desks and now we have desks paying for order flow so they can use black boxes to "flatten" the order flow and turn profit getting out of positions they took the other side of. It's basically how prop trading can happen and still skirt Dodd Frank
It's extremely fucked up, I tried to make cases against several firms that they were prop trading and they went nowhere.
This isn't even the worst form of this. There are firms who take order flow from fully owned subsidiaries (often foreign subsidiaries to skirt US regs). The fully owned subsidiary signs a letter of authorization allowing the US desk to trade on an "agency" basis on behalf of the "customer" even though the same company owns both and just allows prop trading to happen while letting the desk trade ahead of their "client".
It's a fucking mess and none of the regulators will go in. I had an 18 month dig into a very large bank just get killed off before I left.
Wall Street getting fucked. Robinhood announced they are opening back up in limited fashion. Too late. I want them all in jail and the list can start with those in TV talking about how this was done to protect themselves to stop the rise.
Will be watching AOC on twitch. They escaped prosecution in 2008. Ironically enough I believe it's Trumpers and MAGA getting the Republicans on board because this time it won't be a peaceful clap your friend Occupy Wall Street. The insurrectionist crowd is coming for them because they also got screwed.
Wall Street isn't getting fucked. a few HF got caught and screwed. The only ones who got burned were their investors. The rest of the market rode up with them. Black rock owns a significant chunk of GME. I don't think they are mad. A ton of hedge funds have made a killing these past few days
AOC knows nothing about how these markets actually work.
Retail investors are a small part of the trading pool in GMe.
Remember that most of the people you see commenting and the politicians have no clue how any of this actually works. They are going for easy political points.
A hedge fund losing all of its money is bad for its investors but this isn't a LTCM situation nor is it a systemic risk.
Interactive Brokers Chairman justified the shutdown by saying it is a LTCM situation and was a systemic risk (in not so many words).A hedge fund losing all of its money is bad for its investors but this isn't a LTCM situation nor is it a systemic risk.
Kinda, what Robinhood is doing is far worse though, 100% market manipulation.So basically, rich shitheads tried buying up stock in a failing business to make bank, and now they're freaking out that regular people beat them to it?
Right, that's why there was a concerted effort my a large number of brokerages today to stop retail trading on specific stocks so, and when their value plummeted, the hedges kept trading on them? Righhhttt Wallstreet was not getting fuckedWall Street isn't getting fucked. a few HF got caught and screwed. The only ones who got burned were their investors. The rest of the market rode up with them. Black rock owns a significant chunk of GME. I don't think they are mad. A ton of hedge funds have made a killing these past few days
AOC knows nothing about how these markets actually work.
Retail investors are a small part of the trading pool in GMe.
Remember that most of the people you see commenting and the politicians have no clue how any of this actually works. They are going for easy political points.
A hedge fund losing all of its money is bad for its investors but this isn't a LTCM situation nor is it a systemic risk.
Haha this guy thinking making damn near a million dollars for fuck all work from an entity doesn't constitute a relationship with said entity. Wild stuff in this thread.
The guy who thought he was suddenly in like a million dollars of debt? Yeah was extremely fucked up. I hope they go to jail too, because the nonsense pulled today is ridiculous. Unlike 2008, I think situations like these can have consequences for all of Wallstreet even if politicians don't fully grasp what happened, it doesn't matter.remember when robinhood's shitty user interface made some guy commit suicide because he thought he was in massive debt? Yeah I hope every one who works there goes to jail after today's events.
Wall Street isn't getting fucked. a few HF got caught and screwed. The only ones who got burned were their investors. The rest of the market rode up with them. Black rock owns a significant chunk of GME. I don't think they are mad. A ton of hedge funds have made a killing these past few days
AOC knows nothing about how these markets actually work.
Retail investors are a small part of the trading pool in GMe.
Remember that most of the people you see commenting and the politicians have no clue how any of this actually works. They are going for easy political points.
A hedge fund losing all of its money is bad for its investors but this isn't a LTCM situation nor is it a systemic risk.
I don't think people actually mean all of Wall Street when they say Wall Street are getting fucked. It's not like people want the world economy to fail. They just want to see a few smug dickheads lose money, and smug dickheads is how this all got started.Wall Street isn't getting fucked. a few HF got caught and screwed. The only ones who got burned were their investors. The rest of the market rode up with them. Black rock owns a significant chunk of GME. I don't think they are mad. A ton of hedge funds have made a killing these past few days
AOC knows nothing about how these markets actually work.
Retail investors are a small part of the trading pool in GMe.
Remember that most of the people you see commenting and the politicians have no clue how any of this actually works. They are going for easy political points.
A hedge fund losing all of its money is bad for its investors but this isn't a LTCM situation nor is it a systemic risk.
Finally someone who's not ignorant. Been saying many times this isn't the feel good story everyone thinks it is.
best one in term of risk management/market fill and shares availability is fidelity, unfortunately their app is crap. TD and webull are also pretty good and have decent mobile appsI'm transferring everything out of Robinhood and consolidating other brokerage accounts I have. What's the best one? A well-designed app is really important to me — and sadly one of the things I really like about Robinhood.
Vanguard and Schwab have really archaic apps from what I've seen.
Obviously retail is getting help from other big money names behind the scenes but it is nice to see retail profit in a situation like this. People paying off loans, surgeries, houses. I know what you are saying but it still feels good to me.
I don't even think that, I just found trying to claim getting paid that much for an job with so little work on multiple occasions as being a nothing relationship laughable.I just find it curious everyone's talking up Janet Yellen like she'll be the arbiter in this.
If anything, assuming he gets confirmed, it's going to be Gary Gensler at the helm of the SEC, and he will not be kind.
I'm transferring everything out of Robinhood and consolidating other brokerage accounts I have. What's the best one? A well-designed app is really important to me — and sadly one of the things I really like about Robinhood.
Vanguard and Schwab have really archaic apps from what I've seen.
Interactive Brokers Chairman justified the shutdown by saying it is a LTCM situation and was a systemic risk (in not so many words).
Well, this famously happened in the Netherlands in the 17th century:I love a good "invisible hand" joke but to be fair to Adam Smith, he lived in an agrarian society where people produced and exchanged actual goods and services.
There is no way he could have forseen the ridiculous bullshit that is the financial market in its current form where people who don't create or produce anything are allowed to grift all day long.
Also where I'm at. It feels disingenuous and discounting it just because she's on our side.I don't even think that, I just found trying to claim getting paid that much for an job with so little work on multiple occasions as being a nothing relationship laughable.
This is a great explanation, and sweet avatar/username combo to go with it.He is speaking about other Brokers having a liquidity issue due to the massive demand and swings in volatility that would put them in violation of net capital requirements while they wait for the trades to clear. Brokers must have enough net capital to close out all customer accounts on liquidation. If not, you can spiral out because you are in violation of the SeC rules and could potentially liquidate and not be able to meet customers expected balances.
RH just borrowed hundreds of millions today to ensure they don't go illiquid and under until the trades clear and everything settles.
the risk he is speaking of is having a brokerage go completely under and then you have no idea who is on what side of the trades.
the systemic risk has nothing to do with a few hedge funds getting caught on the wrong side of a trade. All hedge funds deal direct with a prime broker. They don't use any of these discount houses that ran into issues.
LTCM had like $1T in notational derivatives as they were levering to maximize such small value discrepancies.
Melvin did not have that kind of juice.
We are talking about two different things. I see your original post referenced a system risk from hedge funds not brokers. But I am sure you will agree GME has certainly caused a lot of additional positions to be liquidated to make margin.He is speaking about other Brokers having a liquidity issue due to the massive demand and swings in volatility that would put them in violation of net capital requirements while they wait for the trades to clear. Brokers must have enough net capital to close out all customer accounts on liquidation. If not, you can spiral out because you are in violation of the SeC rules and could potentially liquidate and not be able to meet customers expected balances.
RH just borrowed hundreds of millions today to ensure they don't go illiquid and under until the trades clear and everything settles.
the risk he is speaking of is having a brokerage go completely under and then you have no idea who is on what side of the trades.
the systemic risk has nothing to do with a few hedge funds getting caught on the wrong side of a trade. All hedge funds deal direct with a prime broker. They don't use any of these discount houses that ran into issues.
LTCM had like $1T in notational derivatives as they were levering to maximize such small value discrepancies.
Melvin did not have that kind of juice.
So since it's a few hedge funds it's not wall street getting fucked? At what point is it "Wall Street getting fucked"? Cause it seems the genie is outta the bottle and this might just be the start.
Wall Street isn't getting fucked. a few HF got caught and screwed. The only ones who got burned were their investors. The rest of the market rode up with them. Black rock owns a significant chunk of GME. I don't think they are mad. A ton of hedge funds have made a killing these past few days
AOC knows nothing about how these markets actually work.
Retail investors are a small part of the trading pool in GMe.
Remember that most of the people you see commenting and the politicians have no clue how any of this actually works. They are going for easy political points.
A hedge fund losing all of its money is bad for its investors but this isn't a LTCM situation nor is it a systemic risk.
I'm talking about people acting like this is small guys vs hedge funds.
this is hedge funds vs hedge funds with the small guys thinking they are making the moves. The volumes traded here are HF money. Even the options are getting written for short dated calls in million dollars chunks.
this isn't WSB. It's a short squeeze with a focus.
We are talking about two different things. I see your original post referenced a system risk from hedge funds not brokers. But I am sure you will agree GME has certainly caused a lot of additional positions to be liquidated to make margin.
He did far more harm than he did good.yeah he just kept saying we #1 on App Store like that matters. Who gives a fuck. That interview was a train wreck. And how does he deem it was the correct decision to stop all buying but then literally the next day it's okay.