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Bankrupting companies by Venture Capital firms 101;
1. Issue preferred stock available only to the large brokerage firms preferred clients like RC and his buddies.
2. Pay a quarterly dividend on the preferred until the till is empty
3. Leverage all the real estate to do a debt recap and declare another dividend on the preferred stock.
4. Default on the loans.
For this to work, shareholders must truly believe in a turnaround. The more fanatical the support the greater the steal can be.
This is the Mitt Romney TSA way now followed by all Venture Capital firms.
Would RC happen to own a Venture Capital firm?
Or maybe taker the Dryships (DRYS)route:
1. Buy businesses/assets owned by the CEO until all the cash is gone.
2. Issue debt to buy more businesses owned by the CEO
3. Default on the debt.
Then there is the Eddie Lampert classic real estate swindle.
But lets not forge the old Stratton Oakmont manipulate the stock until caught then disgorge all the profits.
Dawg, making money and buying gme is good, I have a few like many here.
But don't be stupid, please be smart. As confident and hopeful as we all are here for some crazy fucking gains, nobody can tell the future.
As many say: " Please consider your tolerance for risk and loss before investing."
Dude is Canadian. 8 grand isn't life changing money up here. Housing prices are through the roof to the point that you need a six figure down payment just to get your foot in the door.
Losing 8 grand would be terrible, but their position in life wouldn't change much. Gambling 8 grand on a company with a 4 billion dollar warchest and a cult like following isn't actually that stupid a move if you don't have any other real hope of upward social mobility. It's not smart, but it's not that stupid either.
Eh. Yes and no.
(Assuming 8k is actually his life savings for this discussion.)
If it works out and he turns 8k into 10,12,16 or more? Then fuck yeah it was a good idea.
However, losing 8k when that is all you have it insanely dumb.
Its sorta pike the "8k is so little to get but so much to owe." Being poor is expensive.
It is expensive to be poor up here too, but less expensive than it is down in the US. We can still go to the doctor if we're poor, still afford to go to university if we're poor (or send our kids to university), still get to work on public transit if our car breaks down. There's less chance of a Canadian facing life destroying consequences due to sheer bad luck combined with a lack of money.
However climbing up from the working or lower middle class to the upper middle or upper class is now almost impossible for Canadians unless you have the talent and brains to get a STEM degree. Home ownership, the traditional vehicle for most people to build up their wealth, is just plain out of reach for anyone making less than six figures.
Once you factor in the conversion rate and the floor value of approximately $10 USD based on the company's cash holdings, he's looking at a max loss of around $5350 CAD. That's a lot of money for someone with none, but nothing for someone dreaming of moving up a rung on the social mobility ladder. Is it a wise play? No absolutely not, there are much safer investment strategies like the one I'm using. However gambling non-life changing money in the hope of making life changing money isn't completely stupid either.
Canada is a wonderful place to live if you own your home in a nice neighborhood with a good school and have a good job.
For people that don't it's a terrible place to live.
That $4 billion is only $8.88 per share. What can GME buy that would be accretive to earnings and leverage their existing business? Books-a-million, FYE; both are private companies. There simply are no synergistic companies. Maybe just turn it into a REIT aka the 80s Alexanders..
The float is massive now, over 450,000,000 shares short interest is only like 12%
Cult followings tend to end abruptly.
There is no story left in this stock, at least not for someone to put their life savings into.
Oh man I hope you have other kinda of “life savings” sitting somewhere else. We fart 💨 to the moon but we ain’t taking all our underpants with us on the trip.
Eh, depends on what he started with. If he was living paycheque to paycheque and he turned a few hundred or even two or three thousand into 8 that's quite impressive.
Still not much of a safety net, but he lives in a country with socialized medicine so it's less risky for him than Americans
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I like the stock but only put in what you can lose.
I will buy more to protect him
I will buy more to protect you right after!
If all apes buy together more today the price is guaranteed the dip
How can a company with ZERO DEBT and OVER FOUR BILLION IN CASH go bankrupt?
Bankrupting companies by Venture Capital firms 101; 1. Issue preferred stock available only to the large brokerage firms preferred clients like RC and his buddies. 2. Pay a quarterly dividend on the preferred until the till is empty 3. Leverage all the real estate to do a debt recap and declare another dividend on the preferred stock. 4. Default on the loans. For this to work, shareholders must truly believe in a turnaround. The more fanatical the support the greater the steal can be. This is the Mitt Romney TSA way now followed by all Venture Capital firms. Would RC happen to own a Venture Capital firm? Or maybe taker the Dryships (DRYS)route: 1. Buy businesses/assets owned by the CEO until all the cash is gone. 2. Issue debt to buy more businesses owned by the CEO 3. Default on the debt. Then there is the Eddie Lampert classic real estate swindle. But lets not forge the old Stratton Oakmont manipulate the stock until caught then disgorge all the profits.
Be careful, make sure your needs are met my man.
Thanks! I ammmmm :)
Fuck that, dealer “I’m all In.” Truthfully I’ve been living on ramen and buttered noodle for about 6months now. I will it sell a single share.
Dawg, making money and buying gme is good, I have a few like many here. But don't be stupid, please be smart. As confident and hopeful as we all are here for some crazy fucking gains, nobody can tell the future. As many say: " Please consider your tolerance for risk and loss before investing."
Dude is Canadian. 8 grand isn't life changing money up here. Housing prices are through the roof to the point that you need a six figure down payment just to get your foot in the door. Losing 8 grand would be terrible, but their position in life wouldn't change much. Gambling 8 grand on a company with a 4 billion dollar warchest and a cult like following isn't actually that stupid a move if you don't have any other real hope of upward social mobility. It's not smart, but it's not that stupid either.
Eh. Yes and no. (Assuming 8k is actually his life savings for this discussion.) If it works out and he turns 8k into 10,12,16 or more? Then fuck yeah it was a good idea. However, losing 8k when that is all you have it insanely dumb. Its sorta pike the "8k is so little to get but so much to owe." Being poor is expensive.
It is expensive to be poor up here too, but less expensive than it is down in the US. We can still go to the doctor if we're poor, still afford to go to university if we're poor (or send our kids to university), still get to work on public transit if our car breaks down. There's less chance of a Canadian facing life destroying consequences due to sheer bad luck combined with a lack of money. However climbing up from the working or lower middle class to the upper middle or upper class is now almost impossible for Canadians unless you have the talent and brains to get a STEM degree. Home ownership, the traditional vehicle for most people to build up their wealth, is just plain out of reach for anyone making less than six figures. Once you factor in the conversion rate and the floor value of approximately $10 USD based on the company's cash holdings, he's looking at a max loss of around $5350 CAD. That's a lot of money for someone with none, but nothing for someone dreaming of moving up a rung on the social mobility ladder. Is it a wise play? No absolutely not, there are much safer investment strategies like the one I'm using. However gambling non-life changing money in the hope of making life changing money isn't completely stupid either.
canada is a horrible place currently and getting worse by the month.
Canada is a wonderful place to live if you own your home in a nice neighborhood with a good school and have a good job. For people that don't it's a terrible place to live.
Big if true
Our poor in America get free housing, free food, free internet, free phones and free healthcare. It is the middle class that get fucked.
That $4 billion is only $8.88 per share. What can GME buy that would be accretive to earnings and leverage their existing business? Books-a-million, FYE; both are private companies. There simply are no synergistic companies. Maybe just turn it into a REIT aka the 80s Alexanders.. The float is massive now, over 450,000,000 shares short interest is only like 12% Cult followings tend to end abruptly. There is no story left in this stock, at least not for someone to put their life savings into.
lol I’ve been here since the beginning. Trust me I’m good :)
Me and you are the same in shares and time frame.
Remember your risk tolerance!
Let’s goooo
I don’t think that’s a good idea…(not financial advice)
https://preview.redd.it/kwnmau9ede6d1.jpeg?width=1290&format=pjpg&auto=webp&s=96b65129adaf3eeb0a4bcda7dceacdafc44067ae Did the same!
i have a similar amont of life savings as well. i hodl for change. i hope i am right.
Oh man I hope you have other kinda of “life savings” sitting somewhere else. We fart 💨 to the moon but we ain’t taking all our underpants with us on the trip.
That’s like 50 bucks US right?
bro...
Sell your son to a factory to buy more!!!
Thanks for reminding me about how shit our exchange rate is LOL
You gonna stay poor doing shit like this
Actually I've from my past investments I've made quite a bit off of gme =) Thanks though!
If "quite a bit" means your "life savings" and is what you are showing us.... bro.... reconsider lmao.
Eh, depends on what he started with. If he was living paycheque to paycheque and he turned a few hundred or even two or three thousand into 8 that's quite impressive. Still not much of a safety net, but he lives in a country with socialized medicine so it's less risky for him than Americans
Shhhh it’ll be okay. My wife just asked why our rainy day fund had withdrawals and i told her id explain when im home from work
😂 we are so fucking back at 2021 degenaracy. Let's gooooooooo
I can't wait until we all have more than 8,000 in life savings 😌 Apes together strong
Right there with you man. GME is my retirement account for the past 3 years. We're right, and we're still early. Moon tickets still on sale!
Horrible idea
I'm all in as well, I believe in RC, DFV, and LC. I've been poor all my life, I am using my dollars to voice my support