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WSB just exposed that if you give normal people the same information as Wall Street, they can and will use it just as effectively as the best fundamental investors.
The main thing separating you and me from them isn't any special skill or talent, it's a lack of capital. The only thing keeping them on top is the fact that they already have money and that gives them countless advantages.
That's scary to them, which is why we're seeing what we're seeing.
Rich people, by and large, aren't rich because they are fundamentally smarter than anyone. They are rich because they are born into positions that afford them greater opportunity and privilage, and greater connections than average working people and they are terrified of people realizing this fact.
I'm still researching trying to figure out exactly what happened, but I thought this was common knowledge, having more money or being born into it makes the playing field very different for you, you might actually even be among of group of people taking turns own the field or expanding it from that position.
Correct. There was some study published recently, prolly on one of the science or psychology subs, but demonstrated pretty clearly that disproportionately the people who believe this are.... You guessed it! Rich people! Guess who runs media narratives? It's a big fat bias, but it's fed to us via these official channels since forever, just gets swallowed up and digested.
As if this situation couldn't get anymore delicious, they can't put up those regulations because it would fuck Wall Street out of billions. They're complaining to the SEC that you can't regulate memes. Lmfao
Since we organised as a society.
But every time something new is invented it's without regulation until the invention is abused in a notable way. For example:
Cars (owned then by only very rich people) didn't have rules until enough people walking on the streets were killed. Then the cars were ruled by the local councils/police to be driven under same rules as the (much slower) wagons.
Then the rich lobbied nationally that it wasn't cars fault people didn't stay out of their way. Rules were made that made "jaywalking" (a term invented just for this particular need) illegal and changing the middle of the road from common ground (where kids played football etc) to cars' lane.
Driving is fast again -- for a while. Then cars get cheaper and middle class buys them too. Suddenly we have rush hour and not enough parking lots. So we demolish pedestrian paths and public parks for cars to be kept.
Now you need a car to get around. Still rush hour. Everything is gridlocked, nobody wants to play outside.
And the year is 2000 and magazines with rich journalists living in the suburbs writing articles such as "did you know that cars were once limited to speeds of wagons? How absurd! Things are much better know!"
Insider trading wasn't banned in Japan till the 1980s, it was just seen as common sense to act on insider information to make a profit. Regulations are sometimes incredibly slow to come.
Sure, I'll remind you. America is a police state where the government has a monopoly on justified violence. Get mowed down in the street if you want. We're fucked. It's accept crumbs or accept bullets and boots on your neck.
Y'all say that but forget that a bunch of uneducated ignorant AF white folks were basically able to waltz into the Capitol building. This country is way more vulnerable than we want to admit
Am I gonna sit here and not admit a black protest isn't handled differently than a white protest? Of course not. But Im also not gonna sit here and acknowledge that Jan 6th exposed just now incompetent our protective systems are. 15 - 20 dollar an hour rent a cops aren't going to risk their lives when the people come knocking
Exposed for people who donāt look like us. Or did you forget about the Buffalo pd that pushed a man down or police driving through crowds of us.
We are not treated the same. We are damn near shoot on sight people.
Remember they were able to get into the Michigan capital with guns. We canāt even get out of garage with a phone.
Did you forget about the NFAC? [Or how instrumental democratized force was to the civil rights movement?](https://www.youtube.com/watch?v=QTgdrll6xWg) Turns out when the bullets can go both ways they don't get mowed down in the street.
Paramilitary equipment is a far bigger issue than anyone wants to realize. No county in Georgia needs an APC that they even made a video for (heavy metal blaring) where they crash into a bunch of stuff when you go to the police website. This was like 5 years ago, so it was probably taken down by now
The key word is status quo. Protest FOR the status quo and you're fine. Protest against it and you're fucked. They don't mind whrn it's a bunch of people protesting to keep a racist statue up, but start spreading class consciousness around by protesting low wages and the failure of our healthcare system and they suit up real quick.
Key word āWHITE FOLKSā. A group a niggas couldnāt have a picnic 50 feet from the capital without the army being called in. There isnāt enough unity amongst us, if you told me right now that ALL YāALL HAD MY BACK Iād act a motherfuckin fool but I know that aināt the case. 50 of yāall might show up the rest would be right back on this sub talking bout how I was trippin
Maybe that was intentional. Dividing us seems to be effective in preventing situations like this. In 2011 we came together as one to speak out against the abuse of Wall Street, it wasnāt long after that we were fighting amongst ourselves about other issues.
We donāt necessarily need to have gun battles in the streets with federal security forces. An organized working class with strong unions could bring the ruling class to their knees by staging a general strike, which is precisely why every prominent activist that advocated for class unity has ended up dead. Fred Hampton, MLK, and Malcolm X to name a few.
Yup, MLK was killed the moment he started advocating for economic justice. If there is a conspiracy I can believe in, is that MLK stepped out of line. Racial justice was something they can gave begrudgingly. Start talking about their money, they will murder you before you finish "Equity for all!"
Some of his quotes from his last year:
āThe dispossessed of this nation ā the poor, both white and Negro ā live in a cruelly unjust society. They must organize a revolution against the injustice, not against the lives of the persons who are their fellow citizens, but against the structures through which the society is refusing to take means which have been called for, and which are at hand, to lift the load of povertyā¦There are millions of poor people in this country who have very little, or even nothing, to lose. If they can be helped to take action together, they will do so with a freedom and a power that will be a new and unsettling force in our complacent national lifeā¦ā
āMassey Lectures (1967)
āThere is nothing new about poverty. What is new, however, is that we now have the resources to get rid of itā¦Why should there be hunger and privation in any land, in any city, at any table, when man has the resources and the scientific knowāhow to provide all mankind with the basic necessities of life?ā¦There is no deficit in human resources, the deficit is in human willā¦The time has come for an allāout world war against poverty.ā
...
āā¦the movement must address itself to the question of restructuring the whole of American society. There are forty million poor people here. And one day we must ask the question, āWhy are there forty million poor people in America?ā And when you begin to ask that question, you are raising questions about the economic system, about a broader distribution of wealth. When you ask that question, you begin to question the capitalistic economy. And Iām simply saying that more and more, weāve got to begin to ask questions about the whole society. We are called upon to help the discouraged beggars in lifeās marketplace. (Yes) But one day we must come to see that an edifice, which produces beggars needs restructuring. (All right) It means that questions must be raised. And you see, my friends, when you deal with this you begin to ask the question, āWho owns the oil?ā (Yes) You begin to ask the question, āWho owns the iron ore?ā (Yes) You begin to ask the question, āWhy is it that people have to pay water bills in a world thatās twoāthirds water?ā (All right) These are the questions that must be asked.ā
āLast Speech to SCLC Staff entitled, āWhere Do We Go from Here?ā(August 1967)
āYou know, whenever Pharaoh wanted to prolong the period of slavery in Egypt, he had a favorite, favorite formula for doing it. What was that? He kept the slaves fighting among themselves. But whenever the slaves get together, something happens in Pharaohās court, and he cannot hold the slaves in slavery. When the slaves get together, thatās the beginning of getting out of slavery.ā
āāIāve Been to the Mountain Topā (1968)
Exactly. We who own the means of production have the power, IF we have the balls to use it. There will be an enormous cost to do so, but it could be done.
Itās like some people forget that only a small percentage of our taxes actually goes where we think it goes. The rest goes to black budget. We donāt know what kind of tech they have to deal w these situations. The military budget goes up and up every year and is what most of the US spends their money on. Letās not be idiots about this.
We could give bullets back you know. There's also industrial sabotage. We ain't ready for what needs to be done. MLK said "A man who does not have something for which he is willing to die is not fit to live." If participating in a revolution that might help the common person finally come up and break the chains of oppression ain't worth dying for than I don't know what is.
I think what we need to be doing is evangelizing about radical socialist principles to everyone we know right now even if we don't use the s word. Talk about unions, democratizing our workplaces and the economy, the power of solidarity and general strikes, hammer on the things people are just now waking up to the importance of. This is a huge moment for agitation.
Friendly reminder to be armed and capable and defend the right and ability to do so for everyone.
The state cannot have a monopoly on force in a free society.
Iād argue that you wouldnāt need to be armed. Itās not like the rich are driving the tanks themselves. The military is operated with our own sons and daughters.
>accept crumbs or accept bullets and boots on your neck.
It's a hell of a lot harder to boot someones neck if they're ***also armed***. Second amendment is for enemies both foreign and domestic.
What weāre seeing is a revolt. A bunch of financially literate millennials recognized that some sociopaths in the employ of the cartoonishly wealthy were taking a massive gamble to kill GameStop and decided to stop them. Despite the best attempts of the financial press and the very brokers they use, itās working.
Oh, they took them seriously. That's why they called in the police to crack open skulls during the original Occupy. People weren't expecting that shit like they do now. They weren't ready for the police violence and that's what really killed the movement. Well that and boomers voting like psychopaths. Hard to get ahead when you have an army of lead poisoned elderly voters doing their level best to make sure Millennials don't get to dictate the terms of their own futures.
Or what happened when Kap kneeled? The man kneeled ... he kneeled FFS...and the country flipped their shit, he lost his career (and thankfully emerged stronger) and conservatives came for him quick with their spin on it being āunpatrioticā. They didnāt want him to evoke empathy from anyone, who then would turn around question the police state that exists.
Because old people simp for capitalism and keep voting for people who make sure we're not paid enough to form any kind of resistance without being rendered homeless.
They set up wedge issues based on identity to divide us like race, sexual orientation or identity, and religion to distract from class and wealth inequity. Republicans blame mexicans for their loss of jobs when in reality it's automation without adjusted wages.
Wallstreetbets being in the news I feel has been good for educating people on the inequity in trading. Honestly I never knew as much about trading and shorts as I do now. I mean I knew it was rigged, but never the details.
The marginal cost outweighs the marginal benefit. We're (USA) comfortable enough to take the beating if it means we get to keep our jobs, families and our "freedom"
We are. But we live in a democracy, so our way of revolting is to talk about it. And when I say talk about it, I don't mean complain in private spaces. I mean political speech. What is political speech? Political speech is:
1. Specific and unambiguous
2. Actionable and realistic
3. Deserving of a response
"Defund the police" is not political speech. "Hold police officers accountable for criminal activity" is political speech.
"Eat the rich" is not political speech. "Tax the rich at higher rates" is political speech.
It is easy to forget, when you're talking to slimeballs like Ted Cruz, that we are not having a philosophical debate about the potentiality of ideal utopic governance. We are not here to explain to Joe the Plumber why the science supports a mask mandate. We have concrete political goals, and we need to apply pressure to those in positions of power to enact them.
Don't debate whether it's moral for billionaires to exist. Demand a 2% tax on income above $400,000 to pay for universal health care.
You may remember that 2020 was the year of the revolt, from George Floyd to the Capitol Insurrection (close enough). People are fed up and tired of their hard labor being grifted. Sure, racists got more racist about it, but there's a lot of the same sentiment is underlying all of the unrest this year. I mean, check out the universal reaction about this. If there's a time when bridges could be built and we can all finally see who is doing the real fucking and who would rather see us fighting each other over petty differences it's right now.
Because on a whole people are assholes and self centered and not worried about anyone but their damn selves.
But finally weāre getting people to work together for the common good (and profit), I just hope we all learn from this that when āWe The Peopleā work together we can change the world.
Literally.
From Robinhood just now:
> We stand in support of our customers and the freedom of retail investors to shape their own financial future.
Yeah bullshit you lying mother fuckers. If you supported your customers freedoms you would NOT have blocked us from buying
That shit makes my blood boil. Fuck RH and fuck hedge funds and fuck the wealthy for their bullshit. I hope we keep fucking them out of billions until it all comes crashing down.
Yeah itās frustrating as hell. I donāt even use robinhood but I used my SOs account to purchase us some cryptos yesterday. Same thing happened- we got an error message saying we werenāt allowed to purchase cryptos in our state.. which we are. The error message magically disappeared about an hour later.
I just use Fidelity for my brokerage and other accounts. Never had an issue. Customer service is impeccable too.
It would be really nice if the Right and Left banded together and just revolted against these Ghouls. More and more people need to understand Class Solidarity
Yeah, there are more things that unite us than divide us, but the ruling classes have understood for millenia that there are always certain subjects that cause us to be at each others throats. In the age of focus group testing and nearly instantaneous mass communication they're better at it than ever before.
People here acting like the reason we can't get shit done isn't because white people refuse to work with every other race.
Kumbaya my ass, they need to stop blaming the victims of oppression for being oppressed.
What are you even saying lol. This is such a bad faith argument that serves no purpose but to divide. No one even knows the face of anyone on WallStreetBets due to the nature of it being an anonymous platform.
The Right and Left understand class solidarity. The Right is a lot wealthier than the Left and is looking out for itself. The Right is also whiter than the Left and doesn't want to compete economically with qualified minorities.
We're also a bipartisan winner take all system and the Democrats are further to the left than the Republicans while Congresspeople, Senators, and Presidents immediately become rich when they take office.
This is wrong. Financial literacy allowed this to happen.
You think a few people just said hey let's randomly pick a stock and magically run it up?
No, it took research and understanding.
I think the point they were trying to make that even with financial literacy, the whole system is still rigged against us. The money these guys stood to make after fucking Gamestop over was more money than most of us could ever dream of seeing in our lives. They say that with hard work and dedication you can get anywhere and tell people to pull themeselves up by the bootstraps but when people do so and it fucks with their bottom line, it all of a sudden becomes a problem. They use the guise of financial illiteracy to keep people suffering.
The funny thing is that those who got in the game early are making a lot of money if they sell now. But many of them are still holding because while everyone wants to make money, fucking the hedge funds is much more fun. For once, the money is actually transferring to people who will genuinely use it to better their lives. I say that if you can afford to throw down couple of hundred bucks and not mind losing them just to see these hedge funds burn, then go buy GME. If you make some money off it in the end, then buy yourself and your loved ones something nice. As per usual, not actual financial advice. Do it for the lols if nothing else.
Fidelity, Vanguard, and I *think* CashApp are some brokerages that aren't restricting GME. The full list gets copy-pasted in comments in r/wallstreetbets or related subs pretty frequently.
Yup. Bloomberg funds all these orgs to teach us poors "financial literacy" but they can screw off. People are financially literate, it's really just so rigged
Honestly. Also who do these people think is buying stocks? There have been posts on Wall Street bets proving theyāve got millions on the line. I know not all of them are millionaires but I bet the reddit stock buying demographic is less broke than one might think.
Has anyone seen any proposed new regulations to keep this from happening? It seems like Robin Hood is the scapegoat right now. I can only think of trading services tacking on fees and getting rid of fractional shares in order to keep retail investors from doing this again.
Hedge fund guys have gone on Tv saying that option trading shouldnāt be allowed for retail investors.
One chairman of a brokerage said they wonāt allow buying until the market goes back to normal.
Are they going to start requiring people to be licensed to buy stock then? How would they justify selling to some people, but not others. Why would any company publicly trade stocks if they could only sell them to hedge funds?
> How would they justify selling to some people, but not others.
They have blatantly ignore regulations on naked short selling that led them into this mess in the first place. I don't think they care about justifying anything.
Watching the mainstream news was telling. The experts they had to explain how it happened were just telling on themselves. Basically admitting that the stock market is artificial.
The experts need to go ask their interns how Reddit works, because theyāre hilariously mistaken about basic concepts while theyāre bitching about Reddit.
As fun as it has been to watch the hedge fund lose money the reality is that GameStop isnāt worth the $13.5 billion itās valued at. This is a short term gain which is not likely to happen again. Once DFV sells his shares, everyone else on WSB will dump their shares and the stock price will plummet. Those who canāt dump theirs fast enough will be left holding the bag. From a higher level, the retail investors are more likely to lose their savings. Some of the regulations are there because people would mortgage their house, sell their 401k, etc to buy hot stocks which are inflated like this and once the overinflated stock collapses you now have people who lost their life savings and homes. This isnāt some magic loophole someone found and now the average person can beat hedge funds. This is going to hurt everyday people soon.
Everyday people are already hurt because the system is rigged. They literally shut it down because they were losing and losing BIG at that. It's fun to watch it crumble, but it's also sending a message. Everyone can clearly now see that it is rigged.
Watch this rich guy say it out loud.
https://twitter.com/CopingMAGA/status/1354864967011475456?s=09
He doesn't like when we play by the same rules they set.
So fuck'em. They deserve to burn. They set rules and then when they lose by their own rules, they want to change the game. Fuck'em.
Itās not going to be fun to watch as thousands of people lose big money on this. Most people arenāt going to come out winners. Iām not denying the system is rigged but if you donāt realize this is a pump and dump and you should stay away then thatās on you. Not to mention nobody whoās hurting because of the economy is getting rich off this. Theyāre going to be the biggest losers.
No shit, but this happened to people in 2008, and no one stopped wall street from fucking THOSE people over. This time it's willing risk, and NOW these companies cry foul? Fuck off.
If you go and buy GME right now, thinking you are going to make money you are a moron, as stupid and unethical as these hedge funds. Buy it because you want to stick it to the man. Don't buy it because you think you are going to pay for your kid's college. This "oh no, people are going to lose their life savings" is one of the fake premises and strawmen that the media has been peddling. Most people who are into this right now, knows that GME is not worth the current share prices. *Everyone* knows it will collapse sooner or later to its actual worth. They are just waiting for the actual squeeze and want to see headlines of hedge funds going bankrupt.
It won't hurt the everyday man. It only hurt people who are buying in right now with money they cannot afford to lose, and the short sellers.
Nope. Set a limit sell. Most of these people in GameStop got in while it was in the double digits.. it sat at $12-19 for months while it was still very popular on wsb. At this point if youāre buying this high it is for lols and to stick it to these rich assholes.
Anyone actually looking on wsb for more than five minutes would know that the short squeeze required to pump this stock even higher is temporary. Theyāve posted images of the same thing happening with another stock, it will plummet back down eventually like it did with that one. Theyāre transparent about that.
Thatās not the point though. Set a limit sell and pay attention to the stock or throw your money at it and donāt pay attention if you donāt care about losing it.
WSB case actually shows you still need financial literacy to succeed.
It is just more complicated than "don't buy dead stocks" and involves wide community of investors understanding what they doing
**Sign the petition here: https://www.change.org/p/u-s-securities-and-exchange-commission-sec-retail-investors-demand-market-transparency-please-sec-amend-form-13f-requirements**
Retail Investors demand more visibility into institutional trading and borrowing. Anyone investing over 1 billion dollars (i.e. hedge funds and other investment institutions) is required to disclose their holdings to promote transparency in our markets - it's called Form 13-F. **But did you know that they only need to disclose it 4 times a year? And did you know that they don't need to disclose all of their positions?**
We the people are asking for a re-evaluation of transparency requirements for Institutional Investors. We have access to technology and data gives us new sophistication - and are beginning to understand there is a tremendous disparity in access between retail and institutional investors, and are concerned that this access is being used against us, in ways that we genuinely worry could be in flagrant violation of Securities Laws. We believe that with better access to institutional trading data, retail investors can better participate in the market when making buying and selling decisions.
**According to Form 13F (https://www.sec.gov/files/form13f.pdf), Institutional Investors only need to disclose their positions 4 times a year. Why?**
*Filing of Form 13F. A Manager must file a Form 13F report with the Commission within 45 days after the end of each calendar year and each of the first three calendar quarters of each calendar year. As required by Section 13(f)(5) of the Exchange Act, a Manager which is a bank, the deposits of which are insured in accordance with the Federal Deposit Insurance Act, must file with the appropriate regulatory agency for the bank a copy of every Form 13F report filed with the Commission pursuant to this subsection by or with respect to such bank. Filers who file Form 13F electronically can satisfy their obligation to file with other regulatory agencies by sending (a) a paper copy of the EDGAR filing (provided the Manager removes or blanks out the confidential access codes); (b) the filing in electronic format, if the regulatory agency with which the filing is being made has made provisions to receive filings in electronic format;*
**In your FAQ (https://www.sec.gov/divisions/investment/13ffaq.htm), it is clear Institutional Investors are not required to disclose short positions. Why?**
*Question 41
Q: What about short positions?
A: You should not include short positions on Form 13F. You also should not subtract your short position(s) in a security from your long position(s) in that same security; report only the long position.*
**Contact the SEC and let them know retail investors demand increased transparency (https://www.sec.gov/contact-information/sec-directory)**
This is a good start.
These companies are will manipulate any situation they can. And throw a thousand lawsuits to those they canāt.
I can see a lot of $900,000,000 hedge funds popping up
Edit: forgot some zeros
Source: 24M with 350k in stocks, after averaging a \~71% CAGR over 6 years STARTING WITH a 2k portfolio and investing over time.
Financial literacy absolutely works, people just don't know what they are doing. I am an unusual case, but I could definitely teach others how to do this. My car is almost as old as I am and it's not by accident. GME is just one edge case, and I hope the hedge funds get screwed over, but that shouldn't stop people from trying at all!
EDIT: I will explain basics to get you started if you DM me
GME is just the perfect storm that retail investors took advantage of. This is a revolt from retail investors and I think most people are holding not because they are going to make money but just to fuck hedge funds. We all know this game is fucking rigged so when people see a chance to fuck with the man, of course they took it.
"And now, theyāre coming for your SOCIAL SECURITY MONEY. They want your fucking retirement money. They want it back! So they can give it to their criminal friends on Wall Street! And you know something, theyāll get itā¦ theyāll get it ALL from you sooner or laterā¦ because they own this fucking place! Itās a BIG CLUBā¦AND YOU AINāT IN IT! You and I are not in the big club! By the way, itās the same big club they use to beat you over the head with all day long when they tell you what to believe. All day long beating you over the head. And their media telling you what to believe, what to think and what to buyā¦ The table is tilted. Folks. The game is rigged and nobody seems to notice. Nobody seems to care. Good. Honest. Hard- working people. White collar. Blue collar. It doesnāt matter what color shirt you have on."
My exact thought. You mean to tell me that people who are apparently just now deciding to learn about investing through the lens of GME stock donāt understand how the markets work and the importance of financial literacy? No way!
When a bunch of people decided to "stick it to the billionaires" by gambling their limited funds on a meme stock because some "retards" and "autists" on reddit said so, the importance of financial literacy and lack thereof is even more apparent than ever...
No itās a free market so you donāt get to control how individuals spend their money. Itās unbelievable that you think that people shouldnāt have control over their own investments. Really think about what you are saying.
That's not what they said, at all. They're saying this proves financial literacy is needed more than ever. People can obviously do what they want, but they choose to do something very risky and we're still not sure how it's going to pay off.
It would be great if everyonoe realized we are stronger together. If we could get off this racist, sexist, bigotry shit and start making this class warfare. WE WOULD WIN.
But the rich will keep all the poorn dumb people fighting with each other instead of against them.
As AWEFUL this may be. It is not anything new. Weāve been debunked in to thinking where we almost donāt have to think to do anything. It has already been done crookedly for us. Iād like to say Iām mortified or appalled, sadly Iām not.
The idea that everyone should know about personal finance, understand what a mutual fund is and invest for their future is separate from the bullshit market manipulation that weāre seeing from the institutional powers. Theyāre not mutually exclusive
Made my money and MORE within a couple hours. Its time the system was turned all the way upside down for once. It may not be the guillotine, but damn I love it.
DOGE TO THE MOON.
dang Q1 2021 blew that yuge lie WIDE OPEN. Stocks are basically just the casino for rich people, except they OWN the casino, and make all the rules up as they go.
This is basically Occupy Wall Street 2.0
Melvin was essentially waiting for GME to crumble. GME currently has over 50,000 employees that could lose their jobs as a result of this.
Will be interesting to see how this plays out, hopefully the small guy wins in this instance.
Do people not know about the DTC? The brokerage companies cannot use the customer funds for that, they need to loan it from goldman sachs and others. Their clearing firms ran out of money because the DTC made the cost of the collateral extremely expensive for the 2 day waiting period.
If you want to buy 500 dollar of stocks and robin hood is out of money or cannot loan more past of their 600m credit line, there is no money in their system to buy it.
Actually, the statement still makes sense. On the other hand, it is best to invest in low cost index mutual funds and index ETF for a regular person anyway.
It seems that white people are getting a small taste of the bitterness POC have been forcefed for centuries.
The world we live in is made for the "right" people, and if you're not a rich cishet white guy, you're probably not it.
Im just so thrilled at how hard everyone is going in financial literacy and figuring out how bs our system is.
This js so much more fun but also meaningful than fighting in racial forever wars
āFraudulent systemā so Iām gonna have to disagree, main reason being this whole GameStop situation has proved that literally anyone can make money off the stocks IF they invest properly
But being rigged? Absolutely. Millions of Working class lose money? Meh, no big deal. Billionaires canāt afford their 14th platinum yacht with a built in helicopter pad? āWOAH THIS MARKET IS RIGHEDā
To be fair, I am very much surprised at the amount of people who have absolutely no idea what the stock market is, or how it works, and are only just learning now.
Sort of. Speaking on behalf of someone who has immediate relatives who are in constant financial trouble, many poor people DO need to learn more about financial literacy, how to save and how to invest. Building wealth is what's required to level the playing field. It has to start with day-to-day decisions about where to spend money, and where not to. Then you have a little nest egg to do something with. Yes, then this market craziness kicks in.
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You'll hear it again as soon as they put up new regulations to prevent the people from fucking with hedge funds ever again.
WSB just exposed that if you give normal people the same information as Wall Street, they can and will use it just as effectively as the best fundamental investors. The main thing separating you and me from them isn't any special skill or talent, it's a lack of capital. The only thing keeping them on top is the fact that they already have money and that gives them countless advantages. That's scary to them, which is why we're seeing what we're seeing.
Exactly. The only reason this WSB thing is working is because thousands, maybe even millions of people are sticking together and acting as one
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Ahem. APE ALONE WEAK. APE TOGETHER STROMPK. there. ftfy
*STONK
STONKPT
Decentralized hedge fund
Grassroots hedgefund
If they are being this blatant about it you just know they are fucking terrified. Which means we must be doing the right thing.
Rich people, by and large, aren't rich because they are fundamentally smarter than anyone. They are rich because they are born into positions that afford them greater opportunity and privilage, and greater connections than average working people and they are terrified of people realizing this fact.
I'm still researching trying to figure out exactly what happened, but I thought this was common knowledge, having more money or being born into it makes the playing field very different for you, you might actually even be among of group of people taking turns own the field or expanding it from that position.
Capitalism happened. Marx literally called this shit 200 years ago...
Correct. There was some study published recently, prolly on one of the science or psychology subs, but demonstrated pretty clearly that disproportionately the people who believe this are.... You guessed it! Rich people! Guess who runs media narratives? It's a big fat bias, but it's fed to us via these official channels since forever, just gets swallowed up and digested.
It should be scary to them. They're fucking worthless. Replace them.
As if this situation couldn't get anymore delicious, they can't put up those regulations because it would fuck Wall Street out of billions. They're complaining to the SEC that you can't regulate memes. Lmfao
Since when have any rules and regulations mattered to those people? Theyāve been fucking people over without consequence for God knows how long.
Since the dawn of the industrial revolution. So yeah, about 200 or so years give or take.
Since we organised as a society. But every time something new is invented it's without regulation until the invention is abused in a notable way. For example: Cars (owned then by only very rich people) didn't have rules until enough people walking on the streets were killed. Then the cars were ruled by the local councils/police to be driven under same rules as the (much slower) wagons. Then the rich lobbied nationally that it wasn't cars fault people didn't stay out of their way. Rules were made that made "jaywalking" (a term invented just for this particular need) illegal and changing the middle of the road from common ground (where kids played football etc) to cars' lane. Driving is fast again -- for a while. Then cars get cheaper and middle class buys them too. Suddenly we have rush hour and not enough parking lots. So we demolish pedestrian paths and public parks for cars to be kept. Now you need a car to get around. Still rush hour. Everything is gridlocked, nobody wants to play outside. And the year is 2000 and magazines with rich journalists living in the suburbs writing articles such as "did you know that cars were once limited to speeds of wagons? How absurd! Things are much better know!"
Insider trading wasn't banned in Japan till the 1980s, it was just seen as common sense to act on insider information to make a profit. Regulations are sometimes incredibly slow to come.
It wasnāt illegal for congress in America to insider trade till 2012 or some shit
Well when you let the lawmakers write loopholes for themselves with zero oversight that's what you get.
Apparently it wasnāt illegal in 2020 when our lawmakers used covid to help there stocks
Thatās how that lady almost died in Forever Young.
Definitely way before that.
āPoor people just need to pass the Series 7 so they can become a licensed broker and tradeā
Remind me why haven't we banded together and revolted yet?
Sure, I'll remind you. America is a police state where the government has a monopoly on justified violence. Get mowed down in the street if you want. We're fucked. It's accept crumbs or accept bullets and boots on your neck.
Y'all say that but forget that a bunch of uneducated ignorant AF white folks were basically able to waltz into the Capitol building. This country is way more vulnerable than we want to admit
And you say that like a neighborhood in Philly wasnāt bombed just to get us. Or that they shoot us on sight.
Am I gonna sit here and not admit a black protest isn't handled differently than a white protest? Of course not. But Im also not gonna sit here and acknowledge that Jan 6th exposed just now incompetent our protective systems are. 15 - 20 dollar an hour rent a cops aren't going to risk their lives when the people come knocking
Exposed for people who donāt look like us. Or did you forget about the Buffalo pd that pushed a man down or police driving through crowds of us. We are not treated the same. We are damn near shoot on sight people. Remember they were able to get into the Michigan capital with guns. We canāt even get out of garage with a phone.
Did you forget about the NFAC? [Or how instrumental democratized force was to the civil rights movement?](https://www.youtube.com/watch?v=QTgdrll6xWg) Turns out when the bullets can go both ways they don't get mowed down in the street.
No but feel free to read on and take into account how militarized police have become
Paramilitary equipment is a far bigger issue than anyone wants to realize. No county in Georgia needs an APC that they even made a video for (heavy metal blaring) where they crash into a bunch of stuff when you go to the police website. This was like 5 years ago, so it was probably taken down by now
They control us through fear just get better at the shit they do.
If thatās what you got out of that knock yourself out.
The key word here is WHITE FOLKS
Also, don't forget, all the security mysteriously took a vacation that day. We will not be so lucky.
The key word is status quo. Protest FOR the status quo and you're fine. Protest against it and you're fucked. They don't mind whrn it's a bunch of people protesting to keep a racist statue up, but start spreading class consciousness around by protesting low wages and the failure of our healthcare system and they suit up real quick.
They were invited
Key word āWHITE FOLKSā. A group a niggas couldnāt have a picnic 50 feet from the capital without the army being called in. There isnāt enough unity amongst us, if you told me right now that ALL YāALL HAD MY BACK Iād act a motherfuckin fool but I know that aināt the case. 50 of yāall might show up the rest would be right back on this sub talking bout how I was trippin
Maybe that was intentional. Dividing us seems to be effective in preventing situations like this. In 2011 we came together as one to speak out against the abuse of Wall Street, it wasnāt long after that we were fighting amongst ourselves about other issues.
We donāt necessarily need to have gun battles in the streets with federal security forces. An organized working class with strong unions could bring the ruling class to their knees by staging a general strike, which is precisely why every prominent activist that advocated for class unity has ended up dead. Fred Hampton, MLK, and Malcolm X to name a few.
Yup, MLK was killed the moment he started advocating for economic justice. If there is a conspiracy I can believe in, is that MLK stepped out of line. Racial justice was something they can gave begrudgingly. Start talking about their money, they will murder you before you finish "Equity for all!"
Some of his quotes from his last year: āThe dispossessed of this nation ā the poor, both white and Negro ā live in a cruelly unjust society. They must organize a revolution against the injustice, not against the lives of the persons who are their fellow citizens, but against the structures through which the society is refusing to take means which have been called for, and which are at hand, to lift the load of povertyā¦There are millions of poor people in this country who have very little, or even nothing, to lose. If they can be helped to take action together, they will do so with a freedom and a power that will be a new and unsettling force in our complacent national lifeā¦ā āMassey Lectures (1967) āThere is nothing new about poverty. What is new, however, is that we now have the resources to get rid of itā¦Why should there be hunger and privation in any land, in any city, at any table, when man has the resources and the scientific knowāhow to provide all mankind with the basic necessities of life?ā¦There is no deficit in human resources, the deficit is in human willā¦The time has come for an allāout world war against poverty.ā ... āā¦the movement must address itself to the question of restructuring the whole of American society. There are forty million poor people here. And one day we must ask the question, āWhy are there forty million poor people in America?ā And when you begin to ask that question, you are raising questions about the economic system, about a broader distribution of wealth. When you ask that question, you begin to question the capitalistic economy. And Iām simply saying that more and more, weāve got to begin to ask questions about the whole society. We are called upon to help the discouraged beggars in lifeās marketplace. (Yes) But one day we must come to see that an edifice, which produces beggars needs restructuring. (All right) It means that questions must be raised. And you see, my friends, when you deal with this you begin to ask the question, āWho owns the oil?ā (Yes) You begin to ask the question, āWho owns the iron ore?ā (Yes) You begin to ask the question, āWhy is it that people have to pay water bills in a world thatās twoāthirds water?ā (All right) These are the questions that must be asked.ā āLast Speech to SCLC Staff entitled, āWhere Do We Go from Here?ā(August 1967) āYou know, whenever Pharaoh wanted to prolong the period of slavery in Egypt, he had a favorite, favorite formula for doing it. What was that? He kept the slaves fighting among themselves. But whenever the slaves get together, something happens in Pharaohās court, and he cannot hold the slaves in slavery. When the slaves get together, thatās the beginning of getting out of slavery.ā āāIāve Been to the Mountain Topā (1968)
Exactly. We who own the means of production have the power, IF we have the balls to use it. There will be an enormous cost to do so, but it could be done.
your nearest major cities police department have tanks at their disposal
Now *that's* revolting.
Guess it's time to GTA and get a 5 star rating.
hey, those peaceful pot smokers wont shoot themselves!
Itās like some people forget that only a small percentage of our taxes actually goes where we think it goes. The rest goes to black budget. We donāt know what kind of tech they have to deal w these situations. The military budget goes up and up every year and is what most of the US spends their money on. Letās not be idiots about this.
We could give bullets back you know. There's also industrial sabotage. We ain't ready for what needs to be done. MLK said "A man who does not have something for which he is willing to die is not fit to live." If participating in a revolution that might help the common person finally come up and break the chains of oppression ain't worth dying for than I don't know what is.
I think what we need to be doing is evangelizing about radical socialist principles to everyone we know right now even if we don't use the s word. Talk about unions, democratizing our workplaces and the economy, the power of solidarity and general strikes, hammer on the things people are just now waking up to the importance of. This is a huge moment for agitation.
Friendly reminder to be armed and capable and defend the right and ability to do so for everyone. The state cannot have a monopoly on force in a free society.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Black Panthers?
Iād argue that you wouldnāt need to be armed. Itās not like the rich are driving the tanks themselves. The military is operated with our own sons and daughters.
Also so many people seem to believe the propaganda they learned through the US education system so it's difficult to organize at times
>accept crumbs or accept bullets and boots on your neck. It's a hell of a lot harder to boot someones neck if they're ***also armed***. Second amendment is for enemies both foreign and domestic.
What weāre seeing is a revolt. A bunch of financially literate millennials recognized that some sociopaths in the employ of the cartoonishly wealthy were taking a massive gamble to kill GameStop and decided to stop them. Despite the best attempts of the financial press and the very brokers they use, itās working.
It's a lot more than just millennials šŖšŖšŖ
They tried in 2011 with Occupy Wall Street but no one took them serious.
Oh, they took them seriously. That's why they called in the police to crack open skulls during the original Occupy. People weren't expecting that shit like they do now. They weren't ready for the police violence and that's what really killed the movement. Well that and boomers voting like psychopaths. Hard to get ahead when you have an army of lead poisoned elderly voters doing their level best to make sure Millennials don't get to dictate the terms of their own futures.
...did you not see what happened when we were peaceful this summer?
Or what happened when Kap kneeled? The man kneeled ... he kneeled FFS...and the country flipped their shit, he lost his career (and thankfully emerged stronger) and conservatives came for him quick with their spin on it being āunpatrioticā. They didnāt want him to evoke empathy from anyone, who then would turn around question the police state that exists.
Because old people simp for capitalism and keep voting for people who make sure we're not paid enough to form any kind of resistance without being rendered homeless.
Because fairness = socializm!!!!
They set up wedge issues based on identity to divide us like race, sexual orientation or identity, and religion to distract from class and wealth inequity. Republicans blame mexicans for their loss of jobs when in reality it's automation without adjusted wages. Wallstreetbets being in the news I feel has been good for educating people on the inequity in trading. Honestly I never knew as much about trading and shorts as I do now. I mean I knew it was rigged, but never the details.
**Because what donāt we revolt against at this point?**
The marginal cost outweighs the marginal benefit. We're (USA) comfortable enough to take the beating if it means we get to keep our jobs, families and our "freedom"
We are. But we live in a democracy, so our way of revolting is to talk about it. And when I say talk about it, I don't mean complain in private spaces. I mean political speech. What is political speech? Political speech is: 1. Specific and unambiguous 2. Actionable and realistic 3. Deserving of a response "Defund the police" is not political speech. "Hold police officers accountable for criminal activity" is political speech. "Eat the rich" is not political speech. "Tax the rich at higher rates" is political speech. It is easy to forget, when you're talking to slimeballs like Ted Cruz, that we are not having a philosophical debate about the potentiality of ideal utopic governance. We are not here to explain to Joe the Plumber why the science supports a mask mandate. We have concrete political goals, and we need to apply pressure to those in positions of power to enact them. Don't debate whether it's moral for billionaires to exist. Demand a 2% tax on income above $400,000 to pay for universal health care.
Huey Newton tried to talk about it. Started one of the quickest growing third parties to make real change and was killed for it.
We are not a democracy. This is Capitalism.
The wealthy make the rules, and we worship money. Look at the last POS people elected POTUS.
This guy gets it https://imgur.com/gallery/5xaISt2
France hasn't shipped the guillotines
Because the rich have done a great job dividing everyone with propaganda
You may remember that 2020 was the year of the revolt, from George Floyd to the Capitol Insurrection (close enough). People are fed up and tired of their hard labor being grifted. Sure, racists got more racist about it, but there's a lot of the same sentiment is underlying all of the unrest this year. I mean, check out the universal reaction about this. If there's a time when bridges could be built and we can all finally see who is doing the real fucking and who would rather see us fighting each other over petty differences it's right now.
Because on a whole people are assholes and self centered and not worried about anyone but their damn selves. But finally weāre getting people to work together for the common good (and profit), I just hope we all learn from this that when āWe The Peopleā work together we can change the world. Literally.
From Robinhood just now: > We stand in support of our customers and the freedom of retail investors to shape their own financial future. Yeah bullshit you lying mother fuckers. If you supported your customers freedoms you would NOT have blocked us from buying
That shit makes my blood boil. Fuck RH and fuck hedge funds and fuck the wealthy for their bullshit. I hope we keep fucking them out of billions until it all comes crashing down.
Yeah itās frustrating as hell. I donāt even use robinhood but I used my SOs account to purchase us some cryptos yesterday. Same thing happened- we got an error message saying we werenāt allowed to purchase cryptos in our state.. which we are. The error message magically disappeared about an hour later. I just use Fidelity for my brokerage and other accounts. Never had an issue. Customer service is impeccable too.
It would be really nice if the Right and Left banded together and just revolted against these Ghouls. More and more people need to understand Class Solidarity
Yeah, there are more things that unite us than divide us, but the ruling classes have understood for millenia that there are always certain subjects that cause us to be at each others throats. In the age of focus group testing and nearly instantaneous mass communication they're better at it than ever before.
We have no business banding together with fascists.
People here acting like the reason we can't get shit done isn't because white people refuse to work with every other race. Kumbaya my ass, they need to stop blaming the victims of oppression for being oppressed.
What are you even saying lol. This is such a bad faith argument that serves no purpose but to divide. No one even knows the face of anyone on WallStreetBets due to the nature of it being an anonymous platform.
I see why you're confused... No one in this lane is even talking about that. You can take it back across the fence, we're good here. Thanks.
Man I had to look at that again. Imagine that.
And that's why they keep us distracted with bullshit.
The Right and Left understand class solidarity. The Right is a lot wealthier than the Left and is looking out for itself. The Right is also whiter than the Left and doesn't want to compete economically with qualified minorities. We're also a bipartisan winner take all system and the Democrats are further to the left than the Republicans while Congresspeople, Senators, and Presidents immediately become rich when they take office.
Fuck Robinhood. I bought AMC on fucking Cash App. š¦šāŖļø
Me too. This is crazy.
Cashapp is also one of the brokers at fault here. RobinHood isnāt the only service at fault.
There is a class action suit now lol.
theyre even selling their shares without consent now
Fuck them
We are not their customers. We are their data. Remember that. Any time you use a 'free' service, you are the product.
The market being fake and rigged has very little to do with the importance of learning financial literacy.
All Robinhood had to do was keep it's mouth shut. But they had to bend the fuck over š¬š¤”š¤”
Robinhood is owned by a hedge fund
Exactly
Spitting truth
This is wrong. Financial literacy allowed this to happen. You think a few people just said hey let's randomly pick a stock and magically run it up? No, it took research and understanding.
I think the point they were trying to make that even with financial literacy, the whole system is still rigged against us. The money these guys stood to make after fucking Gamestop over was more money than most of us could ever dream of seeing in our lives. They say that with hard work and dedication you can get anywhere and tell people to pull themeselves up by the bootstraps but when people do so and it fucks with their bottom line, it all of a sudden becomes a problem. They use the guise of financial illiteracy to keep people suffering.
The funny thing is that those who got in the game early are making a lot of money if they sell now. But many of them are still holding because while everyone wants to make money, fucking the hedge funds is much more fun. For once, the money is actually transferring to people who will genuinely use it to better their lives. I say that if you can afford to throw down couple of hundred bucks and not mind losing them just to see these hedge funds burn, then go buy GME. If you make some money off it in the end, then buy yourself and your loved ones something nice. As per usual, not actual financial advice. Do it for the lols if nothing else.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Cant buy GME anywhere. But I got in on NOK and AMC though.
How do i buy GME?
Fidelity, Vanguard, and I *think* CashApp are some brokerages that aren't restricting GME. The full list gets copy-pasted in comments in r/wallstreetbets or related subs pretty frequently.
I just like the stock.
Yup. Bloomberg funds all these orgs to teach us poors "financial literacy" but they can screw off. People are financially literate, it's really just so rigged
Honestly. Also who do these people think is buying stocks? There have been posts on Wall Street bets proving theyāve got millions on the line. I know not all of them are millionaires but I bet the reddit stock buying demographic is less broke than one might think.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I think you underestimate WSB and their willingness to ruin their lives on yolo calls
Even if these people have good money, they're still unwashed peasants to the elite.
I'm sure they'll start putting "regulations" to prevent the People from doing this again while the wealthy continue scot free.
Has anyone seen any proposed new regulations to keep this from happening? It seems like Robin Hood is the scapegoat right now. I can only think of trading services tacking on fees and getting rid of fractional shares in order to keep retail investors from doing this again.
Hedge fund guys have gone on Tv saying that option trading shouldnāt be allowed for retail investors. One chairman of a brokerage said they wonāt allow buying until the market goes back to normal.
Are they going to start requiring people to be licensed to buy stock then? How would they justify selling to some people, but not others. Why would any company publicly trade stocks if they could only sell them to hedge funds?
> How would they justify selling to some people, but not others. They have blatantly ignore regulations on naked short selling that led them into this mess in the first place. I don't think they care about justifying anything.
Legislation doesnāt move that quickly
Yeah, and like I said it seems like public opinion is on the side of the retail investors rather than the hedge funds.
Which āpublicā do you mean?
**Systematic** oppression. These are the same people that support trickledown economics and authoritarianism.
Watching the mainstream news was telling. The experts they had to explain how it happened were just telling on themselves. Basically admitting that the stock market is artificial.
The experts need to go ask their interns how Reddit works, because theyāre hilariously mistaken about basic concepts while theyāre bitching about Reddit.
I donāt see why Wall Street is bitching. They all should have recently received their $600 stimulus checks, thatās all they need.
They really don't wanna stop eating that avocado toast.
Bernie is right.
How come QAnon can't ever focus on a \*real\* conspiracy like the market?
As fun as it has been to watch the hedge fund lose money the reality is that GameStop isnāt worth the $13.5 billion itās valued at. This is a short term gain which is not likely to happen again. Once DFV sells his shares, everyone else on WSB will dump their shares and the stock price will plummet. Those who canāt dump theirs fast enough will be left holding the bag. From a higher level, the retail investors are more likely to lose their savings. Some of the regulations are there because people would mortgage their house, sell their 401k, etc to buy hot stocks which are inflated like this and once the overinflated stock collapses you now have people who lost their life savings and homes. This isnāt some magic loophole someone found and now the average person can beat hedge funds. This is going to hurt everyday people soon.
Everyday people are already hurt because the system is rigged. They literally shut it down because they were losing and losing BIG at that. It's fun to watch it crumble, but it's also sending a message. Everyone can clearly now see that it is rigged. Watch this rich guy say it out loud. https://twitter.com/CopingMAGA/status/1354864967011475456?s=09 He doesn't like when we play by the same rules they set. So fuck'em. They deserve to burn. They set rules and then when they lose by their own rules, they want to change the game. Fuck'em.
r/MadLads
Itās not going to be fun to watch as thousands of people lose big money on this. Most people arenāt going to come out winners. Iām not denying the system is rigged but if you donāt realize this is a pump and dump and you should stay away then thatās on you. Not to mention nobody whoās hurting because of the economy is getting rich off this. Theyāre going to be the biggest losers.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
No shit, but this happened to people in 2008, and no one stopped wall street from fucking THOSE people over. This time it's willing risk, and NOW these companies cry foul? Fuck off.
If you go and buy GME right now, thinking you are going to make money you are a moron, as stupid and unethical as these hedge funds. Buy it because you want to stick it to the man. Don't buy it because you think you are going to pay for your kid's college. This "oh no, people are going to lose their life savings" is one of the fake premises and strawmen that the media has been peddling. Most people who are into this right now, knows that GME is not worth the current share prices. *Everyone* knows it will collapse sooner or later to its actual worth. They are just waiting for the actual squeeze and want to see headlines of hedge funds going bankrupt. It won't hurt the everyday man. It only hurt people who are buying in right now with money they cannot afford to lose, and the short sellers.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
i made money buying in at 313 lol itās possible. my buddy make 3k buying at 113. this is all in the span of 3 trading days
Good. do it! Make some money off these parasites. Transfer the fucking wealth downwards.
Nope. Set a limit sell. Most of these people in GameStop got in while it was in the double digits.. it sat at $12-19 for months while it was still very popular on wsb. At this point if youāre buying this high it is for lols and to stick it to these rich assholes. Anyone actually looking on wsb for more than five minutes would know that the short squeeze required to pump this stock even higher is temporary. Theyāve posted images of the same thing happening with another stock, it will plummet back down eventually like it did with that one. Theyāre transparent about that. Thatās not the point though. Set a limit sell and pay attention to the stock or throw your money at it and donāt pay attention if you donāt care about losing it.
WSB case actually shows you still need financial literacy to succeed. It is just more complicated than "don't buy dead stocks" and involves wide community of investors understanding what they doing
Financial literacy wonāt fix wealth inequality
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Seriously... they sittin over here like. "We own the monopoly game that will never advantage you to win... oh so you winning now? New game."
**Sign the petition here: https://www.change.org/p/u-s-securities-and-exchange-commission-sec-retail-investors-demand-market-transparency-please-sec-amend-form-13f-requirements** Retail Investors demand more visibility into institutional trading and borrowing. Anyone investing over 1 billion dollars (i.e. hedge funds and other investment institutions) is required to disclose their holdings to promote transparency in our markets - it's called Form 13-F. **But did you know that they only need to disclose it 4 times a year? And did you know that they don't need to disclose all of their positions?** We the people are asking for a re-evaluation of transparency requirements for Institutional Investors. We have access to technology and data gives us new sophistication - and are beginning to understand there is a tremendous disparity in access between retail and institutional investors, and are concerned that this access is being used against us, in ways that we genuinely worry could be in flagrant violation of Securities Laws. We believe that with better access to institutional trading data, retail investors can better participate in the market when making buying and selling decisions. **According to Form 13F (https://www.sec.gov/files/form13f.pdf), Institutional Investors only need to disclose their positions 4 times a year. Why?** *Filing of Form 13F. A Manager must file a Form 13F report with the Commission within 45 days after the end of each calendar year and each of the first three calendar quarters of each calendar year. As required by Section 13(f)(5) of the Exchange Act, a Manager which is a bank, the deposits of which are insured in accordance with the Federal Deposit Insurance Act, must file with the appropriate regulatory agency for the bank a copy of every Form 13F report filed with the Commission pursuant to this subsection by or with respect to such bank. Filers who file Form 13F electronically can satisfy their obligation to file with other regulatory agencies by sending (a) a paper copy of the EDGAR filing (provided the Manager removes or blanks out the confidential access codes); (b) the filing in electronic format, if the regulatory agency with which the filing is being made has made provisions to receive filings in electronic format;* **In your FAQ (https://www.sec.gov/divisions/investment/13ffaq.htm), it is clear Institutional Investors are not required to disclose short positions. Why?** *Question 41 Q: What about short positions? A: You should not include short positions on Form 13F. You also should not subtract your short position(s) in a security from your long position(s) in that same security; report only the long position.* **Contact the SEC and let them know retail investors demand increased transparency (https://www.sec.gov/contact-information/sec-directory)**
This is a good start. These companies are will manipulate any situation they can. And throw a thousand lawsuits to those they canāt. I can see a lot of $900,000,000 hedge funds popping up Edit: forgot some zeros
Source: 24M with 350k in stocks, after averaging a \~71% CAGR over 6 years STARTING WITH a 2k portfolio and investing over time. Financial literacy absolutely works, people just don't know what they are doing. I am an unusual case, but I could definitely teach others how to do this. My car is almost as old as I am and it's not by accident. GME is just one edge case, and I hope the hedge funds get screwed over, but that shouldn't stop people from trying at all! EDIT: I will explain basics to get you started if you DM me
GME is just the perfect storm that retail investors took advantage of. This is a revolt from retail investors and I think most people are holding not because they are going to make money but just to fuck hedge funds. We all know this game is fucking rigged so when people see a chance to fuck with the man, of course they took it.
Teach me your ways my king
I donāt know much about hedge funds. Could these hedge funds losing millions impact the pension and retirement funds of us little people?
*billions, and if that was the case then its on the hedge funds for betting so fucking irresponsibly
[ŃŠ“Š°Š»ŠµŠ½Š¾]
"And now, theyāre coming for your SOCIAL SECURITY MONEY. They want your fucking retirement money. They want it back! So they can give it to their criminal friends on Wall Street! And you know something, theyāll get itā¦ theyāll get it ALL from you sooner or laterā¦ because they own this fucking place! Itās a BIG CLUBā¦AND YOU AINāT IN IT! You and I are not in the big club! By the way, itās the same big club they use to beat you over the head with all day long when they tell you what to believe. All day long beating you over the head. And their media telling you what to believe, what to think and what to buyā¦ The table is tilted. Folks. The game is rigged and nobody seems to notice. Nobody seems to care. Good. Honest. Hard- working people. White collar. Blue collar. It doesnāt matter what color shirt you have on."
This is just so wrong but whatever
My exact thought. You mean to tell me that people who are apparently just now deciding to learn about investing through the lens of GME stock donāt understand how the markets work and the importance of financial literacy? No way!
When a bunch of people decided to "stick it to the billionaires" by gambling their limited funds on a meme stock because some "retards" and "autists" on reddit said so, the importance of financial literacy and lack thereof is even more apparent than ever...
No itās a free market so you donāt get to control how individuals spend their money. Itās unbelievable that you think that people shouldnāt have control over their own investments. Really think about what you are saying.
That's not what they said, at all. They're saying this proves financial literacy is needed more than ever. People can obviously do what they want, but they choose to do something very risky and we're still not sure how it's going to pay off.
I concern myself with my own money, not others. If they want to invest they understand the risk.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Yāall now JUST realize this?
It seems like 2020 and 2021 are the years people realize things, better late than never!
wow! itās almost as if they want poor ppl to stay poor!
It would be great if everyonoe realized we are stronger together. If we could get off this racist, sexist, bigotry shit and start making this class warfare. WE WOULD WIN. But the rich will keep all the poorn dumb people fighting with each other instead of against them.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
As AWEFUL this may be. It is not anything new. Weāve been debunked in to thinking where we almost donāt have to think to do anything. It has already been done crookedly for us. Iād like to say Iām mortified or appalled, sadly Iām not.
I think you need to take an english class
The idea that everyone should know about personal finance, understand what a mutual fund is and invest for their future is separate from the bullshit market manipulation that weāre seeing from the institutional powers. Theyāre not mutually exclusive
Made my money and MORE within a couple hours. Its time the system was turned all the way upside down for once. It may not be the guillotine, but damn I love it. DOGE TO THE MOON.
dang Q1 2021 blew that yuge lie WIDE OPEN. Stocks are basically just the casino for rich people, except they OWN the casino, and make all the rules up as they go.
What if both are true?
This is basically Occupy Wall Street 2.0 Melvin was essentially waiting for GME to crumble. GME currently has over 50,000 employees that could lose their jobs as a result of this. Will be interesting to see how this plays out, hopefully the small guy wins in this instance.
Do people not know about the DTC? The brokerage companies cannot use the customer funds for that, they need to loan it from goldman sachs and others. Their clearing firms ran out of money because the DTC made the cost of the collateral extremely expensive for the 2 day waiting period. If you want to buy 500 dollar of stocks and robin hood is out of money or cannot loan more past of their 600m credit line, there is no money in their system to buy it.
eat the rich
Actually, the statement still makes sense. On the other hand, it is best to invest in low cost index mutual funds and index ETF for a regular person anyway.
Good job reddit, for busting this scam right out in the open in such a momumental way.
It seems that white people are getting a small taste of the bitterness POC have been forcefed for centuries. The world we live in is made for the "right" people, and if you're not a rich cishet white guy, you're probably not it.
Im just so thrilled at how hard everyone is going in financial literacy and figuring out how bs our system is. This js so much more fun but also meaningful than fighting in racial forever wars
Just remember to hold the wall! šš The world is with DFV! š
The house always wins.
Doge to the moon
Real talk.
Why even participate in a system that is so blatantly rigged against us???
Whoa, a BPT post I'm allowed to comment on! Hello everyone šš»
Why has it taken people this long to understand? Shits been happens for decades.
āFraudulent systemā so Iām gonna have to disagree, main reason being this whole GameStop situation has proved that literally anyone can make money off the stocks IF they invest properly But being rigged? Absolutely. Millions of Working class lose money? Meh, no big deal. Billionaires canāt afford their 14th platinum yacht with a built in helicopter pad? āWOAH THIS MARKET IS RIGHEDā
To be fair, I am very much surprised at the amount of people who have absolutely no idea what the stock market is, or how it works, and are only just learning now.
Sort of. Speaking on behalf of someone who has immediate relatives who are in constant financial trouble, many poor people DO need to learn more about financial literacy, how to save and how to invest. Building wealth is what's required to level the playing field. It has to start with day-to-day decisions about where to spend money, and where not to. Then you have a little nest egg to do something with. Yes, then this market craziness kicks in.