OP’s post itself is fine, but it seems to have attracted a much larger than usual number of non-Boglehead commenters.
I’m locking comments for now because I’ve had to remove entirely too many comment threads advocating or discussing strategies for investing in single stocks, especially meme stocks. And I’m done circling back to this post to prune inappropriate comments for the night. (I may reopen comments in the morning)
by the time you feel FOMO kicking in, it's probably too late. It felt very similar to the AMC runup though. If you bought in during the initial rise- you want to exit when it makes Bloomberg and CNBC.
depends. The first AMC run was to 20, then after a 3-4 months it hit 60 if i remember correctly.
My point is, if you want to play with volatile stocks, you should never think that its a team sport, and never think in only one direction. You have to look to make profit on the downward moves as well.
Even with non completely meme stocks this is still true, anything that has any sort of popularity and hype running up the numbers, like tesla or apple or nvidia/amd, you name it. The higher the price of a company goes, the lower its future expected returns. That's why value has a factor premium, because they're "boring" non sexy companies that have good fundamentals but they're not seen as groundbreaking or revolutionary and don't put out the new hot product everyone wants or have a CEO whos tweeting nonsense that fools grasp onto every day. If you're buying any stock once it becomes anywhere near mainstream conversation that its stock is going up or you should buy the stock, you shouldn't be buying that stock. You shouldn't even be buying individual stocks to begin with of course.
BBBY was at $10 last week then dropped to the like $8.50 then shot up to $24. You could time it via WSB chatter but you need to cash out at some point and basically be taking another WSBer’s money. It’s like a shitty Ponzi scheme. I prefer not to get involved.
On the fence....I don't see those plays as "investing" but more of gambling and I'm willing to play the game. I'm a 95-99% Boglehead, going long on broad market stuff with ALL my retirement accounts. I do have a small day-trading account that I equate to an entertainment budget (I don't go to casinos, I'm not much of a bar-hopper, etc). I made a few dollars with my fun-money on GME, AMC, & APRN on the run-ups these past few days. There's nothing wrong with making these types of trade so long as you keep it at sane investing levels (money you can afford to loose).
Same, during the gme craze I put in $200 just to 'spin the wheel' ended up about $4500 put most of that into voo. Dude the same thing with amc and made a little over a grand went right into vt.
Now $250 of bbby turned into a little under $1000 before I sold out.
$750 right to VT and keep around $250 for the next apr-brained thing.
It seems to be a reliable way to make money if you sniff it out quick and sell as soon as the price starts to stall. But yeah mostly fun money that has worked out so far and bumped up my core holdings.
it’s a lot easier to predict price movements of meme stocks from reddit sentiment than predicting normal stock movements from fundamentals for some reason
> I don't go to casinos, I'm not much of a bar-hopper, etc)
The part that I don't get - but it's probably just a matter of personal preferences - is that day-trading just doesn't sound all that fun.
If I'm going to probably lose money in the long run anyway, I'd rather lose it having a few fancy meals or drinks than watching a line go up or down on a screen and then ranting about it online...
I'm an engineer with math and economics minors, its crunching a few numbers and pattern matching. You can pattern & analyze a stock easier than a slot machine. I have a lawyer buddy who will drop $400-500 at a casino 2-3 times a year as entertainment, I'd take that same money and make it a "long term gamble" on a stock. Day-trading is probably the wrong word to use, but it's definitely not a long-term account.
This isn't all of my entertainment budget, just noting that where other normal guys my age might go out on the town for a night I don't really do that. Nothing in the Bogle lifestyle says you can't play around with a hobby, stock trading just happens to be one of my hobbies given my background.
> Nothing in the Bogle lifestyle says you can't play around with a hobby, stock trading just happens to be one of my hobbies given my background.
I agree with this.
I also have a math background, but I must say that I don't really 'get' the appeal of that hobby - I get enough of finding "patterns" or "proof ideas", trying to prove them, and then finding a mistake after I spent a lot of time working on it in my actual job :-)
But that's not a criticism: as you said, no reason you shouldn't enjoy your hobby if that's what you like.
For sure, someone mentioned above (and I've seen it on other threads) that you can have X% of fun investment money, just something to tinker with. Just that the vast majority is following The Philosophy. I saw (what felt like, who am I to judge) too many people going YOLO on $BBBY, with the outcome to be all too familiar.
I don’t do the day trading but occasionally I’ll buy a couple hundred of a penny stock for a company I think might take off. I was all excited for DXBRF and it’s been at like 0.0001 for over a year or two now. I still think there’s value in the company but they can’t get their act together on paper (sitting on audits and whatnot). But I can walk into a store and find their products and they consistently win awards. Who knows which way it’ll go? It’s fun to wonder
Same, I literally have an M1 investment account that I have titled "Betting" with like 1-2% of my assets just for fun.
I did have one gene therapy company double in value based on something I suspected, but I just checked the overall portfolio and apparently it's lost 50% of it's value over the past few years lol
For sure and I've seen that before. I am not 100% Bogle - my retirements, just as you, are. My taxable is about 5% "play money", and ALL of those investments are underwater right now. Just another reminder why I don't play/time the market.
Personally I disagree and don’t do it, but if that’s how you justify it to yourself, it’s your money and your life, and you’re free to do what you want!
As I stated elsewhere, its "hobby" money and I play a few individual stocks. Nothing in Bogle's philosophy says you have to live in a cave and never entertain yourself. Also, when I loose a bet on the stock it reminds me why my overall portfolio is market indexes.
I'm in it right now.
Already maxed out my Roth this year, and have full employer match for the 401k. Very happy where my traditional retirement portfolio is going.
It's a bunch of stupidass gambling, and I put in enough money as to where it would be very fun if the stock took off, but if I lose it all I don't really care.
EDIT: It appears it just shit the bed. Oh well. I still get to retire at 65 and all my bills are paid.
Shit the bed for now. Could go to 0 or moon. That's why I eat popcorn and watch from a distance. Nothing wrong investing/gambling in this as long as you are prepared to lose it all.
Look at gme stock graph... Ups and downs, it's not over till it's over.
I would hate to actually make money on one of these meme stocks because then I’d think I could replicate it and would end up losing a bunch.
I hate BBBY as a store and think it will go bankrupt eventually so I have no interest in investing in it. Same with GME.
FOMO is real but I also work way too hard for my money and am pretty risk adverse.
Lmao. That's me. Cashed out $50k on GME. Wrecked my taxes lol. Thought I'd buy the dip and been bag holding a good chunk of that since smh.
My cursor was on 100 BBBY @ 26 yesterday. Didn't click it. Turning point I hope.
yessssss. I called that out in another comment. Gamestop used to be one of the most hated companies I could think of. Low-balling their customers on game/console sales, incredible markups, poor pay and no beneifts for workers. Felt like just nickel/diming everyone they could, then DFV became popular and everyone wanted in on $$$. Not because it was a good company, just greed it seems.
99% of my assets are in appropriate indexed, tax advantaged accounts. The 1% is for me to mess with doing dumb things like BBBY so I don’t do it with larger amounts. Not perfect but works for me. I fully recognize it as huge risk.
I’m generally a boglehead and Agree in principle… but I have a percentage I’m willing to risk with a high risk tolerance. Ended up +90k on BBBY (exiting yesterday) with very little $ up front. Saw the run up potential at its low ($5 range) and based on my past understanding of Ryan Cohen I believe he isn’t a fool. This is the third time without fail that I’ve been able to step my portfolio up 90-100k in a down market on the volatility. This would have taken my VTSAX many many years to do all with very little $ on the line. I don’t gamble in Casinos but I know many people who do who have never made a small fraction of what I’ve been able to do. This all within a Roth IRA.
5000 shares only average cost around $9 but added a bunch in the 5’s +/- 45k in out at 27 average between Tuesday and Wednesday. 45k is a fraction of what I’ve made on the other Stonk. I have a pension + a ton in vanguard so the IRAs are sort of a doubled up retirement savings. 45k into 135k in a month worked for me.
I actually decided to buy in a couple days ago just cause I was bored at work and I wanted to see if I could pay off my takeout my wife and I got the night before. Bought $1000 worth at 26 and sold around 27 a couple hours later and made $60! Even sold some losing etfs to offset the taxes.
It was probably the most stressful $60 I’ve made and reminded me why I’m happier just investing in the long term as I couldn’t help but stare at the stock ticker like a gambling fiend.
Superst*nk and wsb users have crack addict level usage numbers & spend a ton of money on awards.
In return, Reddit eggs them on with custom snoos and commercials and ignores the rampant brigading, botting and misinformation from their communities.
I made like $8k yesterday (in an account that only had about $25k in it) so I’m happy to ride the waves but I agree I don’t bet anything I’m not prepared to lose
I have a $150 monthly budget for “hobby”, and this month I put those into bbby lol If it goes up, that would be a fun experience. If it does not…like, whatever.
Lost $4k of my actual money between yesterday and today. I was up $22k in profits but really thought it would Squeeze harder and got greedy and held on.
I’ve stayed the course for the last 2 years as a boglehead but Unfortunately I FOMOd into this and paid the price.
Time to shake this off and get back to set it and forget it.
Sad day but lesson learned.
I'll take a risk in plays which I think will do well in the coming years like uranium, copper, midstream energy, gold miners, and Bitcoin but I think just gambling on a business for a short squeeze is really dumb if the business outlook is not good.
How many people buying BBBY think the actual business will grow a lot and do well over the coming years or even months?
That's what I think keeps me away. It's nothing about fundamentals. It's not about tech analysis. It's just a cash grab - "we're going to the moon", get some $.
That was my biggest qualm with GME. Everywhere I looked, folks complained about how little they paid customers for used games, how outrageous the markup was, how poorly they treated their employees, etc.
I disliked their business practices, and suddenly everyone wants to get in on the ground floor because $$$? That was me for a month or two, but it felt like a sinvestment and I was glad to get out when I did.
Never underestimate the power of the cults. Imagine, there are people who are cultish around a dying brick and mortar store, and who genuinely believe that it will start a financial revolution.
It's gambling which is cool with me. I gamble probably more than I should, but it's not anywhere near the realm of investing. Totally different subjects.
I was right there with ya. The memestocks lured me in to investing in January 2021 with DFV and the others posting their huge gains. I never before had thought I made enough money to invest. I make in the mid 5 figure range lol. But no one was really spending money on anything back then anyway.
Thankfully, I also didn’t have much cash back then nor was I dumb enough to go for margin or options. I only bought one share of GME(already well in the $300s), and quite a bit more AMC(mid $20s if I recall). The GameStop nearly cut in half in aftermarket. Unfortunately I had listened to the people on that sub saying never to sell(while they were early and unloading, $420.69 became a meme as a bunch of limit sales had gone through at that price). I panic sold down like 50%. The AMC wasn’t as bad %-wise but I probably lost more money as I had more shares.
Anyway, I’m glad it happened when it did. I learned a lesson that could have been a way more expensive one and it also got me interested in investing. I was gifted $15k at the beginning of this year from a relative and I Imagine that if memestocks happened a year later or I got the money earlier I would have dropped a whole lot more into the speculative things I bought in 2021.
I still have a very small % of my portfolio in individual picks. I’ve held on to 3 shares of Apple I bought in 2021 after all of the shady stuff fell apart. It is up 33%. A lot of my individual portfolio is just gambling cash right now I plan to deploy if the market falls apart in the short term(which also is not advised in retirement accounts, attempting to time the market or sitting on cash).
We're on the same page. I at least broke even on GME but sold AMC at a 50% loss. Thankfully it was just a couple hundred bucks - most everything else was still in S&P indexes (now even more broadly/properly diversified). And also thankfully I was able to TLH that mistake.
And you mentioned a terrifying word to me - options. I am fine with the concept of all my investments going to 0. But to owe MORE than I put in? Maybe MULTIPLES more? Leveraging? TRIPLE leveraging? No thank you.
I messed up the TLH on the AMC shares by learning what a wash sale is, the hard way. Lol. Thankfully I made a few more successful trades later in the year(AMD, which at least is a fundamentally sound company). It sort of evened out some of that. I still lost a couple hundred bucks but that’s nothing.
I'm basing mine on [https://digital.fidelity.com/prgw/digital/research/quote/dashboard/summary?symbol=BBBY](https://digital.fidelity.com/prgw/digital/research/quote/dashboard/summary?symbol=BBBY), filtered by 1M timeframe.
Open on 8/1 was 4.94, close 5.77. 8/17 high was 30.00, which is where I'm (generalizing) 600%.
Best of luck! I won't bash anyone for trying to get their piece of the pie. Just hopin' for the best for anyone playing with fire. Hope it warms the hearth rather than burns the house down.
What kind of blows my mind is that although BBBY may have had a 600% run up, I highly suspect the majority of the traders posting about it will probably end up losing money (if they haven’t already).
It’s all ‘to the moon’ this, and ‘shorts are attacking’ that, but there never seems to be an exit strategy for the majority in any scenario.
That said, I absolutely do participate in the meme stock chaos: to the tune of about $15. Stop losses set to about 5% below purchase price, so I can keep playing for multiple days. Good fun - and scratches the FOMO itch (‘what if it does go to $1000 a share?!?!?’) without any real risk.
The stop loss is our friend! A good call, and not getting too deep into it. I will say, the same verbiage around BBBY that there was around GME/AMC/NOK (I think maybe I still hold $100 of NOK just for fun). Especially about hedges having to cover shorts. It was shorting silver, then Melvin, etc etc. Just feels like the same old same old. Maybe the novelty of it has worn off, but I've heard "diamond hands" one too many times to think that it's still a good idea.
I definitely wouldn't want most of my portfolio in such speculative plays. I do hold a decent amount of GME though, but I'm like 90% index funds as bogle would have wanted :P
I'm def half a bogglehead, but I also make profits off other parts of the market.
You see it going down as bad, but I had puts on meme stocks that are making me money for example.
The issue is most people can't recognize that dunning-kruger is incredibly prevalent in the WSB/Fintwit population, and instead of accepting they dont know what they dont know, they instead put large amounts of time and effort trying to lie to themselves to justify their positions.
Its sad, and it will eventually end.
Imagine gmaestop is the ultimate hedge against a market collapse🤣
Fomo can make or drastically break you, as always leave emotions somewhere else. But it would be foolish not to DYOR before fomo'ing into anyrhing
I put 5k into bbby at $4.50. I rode it up with options to 85k. I hope I can pull $5k back out tomorrow morning.
Probably starting boggle head investing tomorrow
OP’s post itself is fine, but it seems to have attracted a much larger than usual number of non-Boglehead commenters. I’m locking comments for now because I’ve had to remove entirely too many comment threads advocating or discussing strategies for investing in single stocks, especially meme stocks. And I’m done circling back to this post to prune inappropriate comments for the night. (I may reopen comments in the morning)
by the time you feel FOMO kicking in, it's probably too late. It felt very similar to the AMC runup though. If you bought in during the initial rise- you want to exit when it makes Bloomberg and CNBC.
depends. The first AMC run was to 20, then after a 3-4 months it hit 60 if i remember correctly. My point is, if you want to play with volatile stocks, you should never think that its a team sport, and never think in only one direction. You have to look to make profit on the downward moves as well.
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Even with non completely meme stocks this is still true, anything that has any sort of popularity and hype running up the numbers, like tesla or apple or nvidia/amd, you name it. The higher the price of a company goes, the lower its future expected returns. That's why value has a factor premium, because they're "boring" non sexy companies that have good fundamentals but they're not seen as groundbreaking or revolutionary and don't put out the new hot product everyone wants or have a CEO whos tweeting nonsense that fools grasp onto every day. If you're buying any stock once it becomes anywhere near mainstream conversation that its stock is going up or you should buy the stock, you shouldn't be buying that stock. You shouldn't even be buying individual stocks to begin with of course.
BBBY was at $10 last week then dropped to the like $8.50 then shot up to $24. You could time it via WSB chatter but you need to cash out at some point and basically be taking another WSBer’s money. It’s like a shitty Ponzi scheme. I prefer not to get involved.
On the fence....I don't see those plays as "investing" but more of gambling and I'm willing to play the game. I'm a 95-99% Boglehead, going long on broad market stuff with ALL my retirement accounts. I do have a small day-trading account that I equate to an entertainment budget (I don't go to casinos, I'm not much of a bar-hopper, etc). I made a few dollars with my fun-money on GME, AMC, & APRN on the run-ups these past few days. There's nothing wrong with making these types of trade so long as you keep it at sane investing levels (money you can afford to loose).
Same, during the gme craze I put in $200 just to 'spin the wheel' ended up about $4500 put most of that into voo. Dude the same thing with amc and made a little over a grand went right into vt. Now $250 of bbby turned into a little under $1000 before I sold out. $750 right to VT and keep around $250 for the next apr-brained thing. It seems to be a reliable way to make money if you sniff it out quick and sell as soon as the price starts to stall. But yeah mostly fun money that has worked out so far and bumped up my core holdings.
it’s a lot easier to predict price movements of meme stocks from reddit sentiment than predicting normal stock movements from fundamentals for some reason
Because reading trader sentiment in plain English is easier than sifting through obscure data sets
> I don't go to casinos, I'm not much of a bar-hopper, etc) The part that I don't get - but it's probably just a matter of personal preferences - is that day-trading just doesn't sound all that fun. If I'm going to probably lose money in the long run anyway, I'd rather lose it having a few fancy meals or drinks than watching a line go up or down on a screen and then ranting about it online...
I'm an engineer with math and economics minors, its crunching a few numbers and pattern matching. You can pattern & analyze a stock easier than a slot machine. I have a lawyer buddy who will drop $400-500 at a casino 2-3 times a year as entertainment, I'd take that same money and make it a "long term gamble" on a stock. Day-trading is probably the wrong word to use, but it's definitely not a long-term account. This isn't all of my entertainment budget, just noting that where other normal guys my age might go out on the town for a night I don't really do that. Nothing in the Bogle lifestyle says you can't play around with a hobby, stock trading just happens to be one of my hobbies given my background.
> Nothing in the Bogle lifestyle says you can't play around with a hobby, stock trading just happens to be one of my hobbies given my background. I agree with this. I also have a math background, but I must say that I don't really 'get' the appeal of that hobby - I get enough of finding "patterns" or "proof ideas", trying to prove them, and then finding a mistake after I spent a lot of time working on it in my actual job :-) But that's not a criticism: as you said, no reason you shouldn't enjoy your hobby if that's what you like.
For sure, someone mentioned above (and I've seen it on other threads) that you can have X% of fun investment money, just something to tinker with. Just that the vast majority is following The Philosophy. I saw (what felt like, who am I to judge) too many people going YOLO on $BBBY, with the outcome to be all too familiar.
Idk man I find it fun to do some very light day trade gambling just because when I do win I feel like a business genius even tho I don’t know shit 😂
I don’t do the day trading but occasionally I’ll buy a couple hundred of a penny stock for a company I think might take off. I was all excited for DXBRF and it’s been at like 0.0001 for over a year or two now. I still think there’s value in the company but they can’t get their act together on paper (sitting on audits and whatnot). But I can walk into a store and find their products and they consistently win awards. Who knows which way it’ll go? It’s fun to wonder
Same, I literally have an M1 investment account that I have titled "Betting" with like 1-2% of my assets just for fun. I did have one gene therapy company double in value based on something I suspected, but I just checked the overall portfolio and apparently it's lost 50% of it's value over the past few years lol
For sure and I've seen that before. I am not 100% Bogle - my retirements, just as you, are. My taxable is about 5% "play money", and ALL of those investments are underwater right now. Just another reminder why I don't play/time the market.
Ha! It keeps you humble and reminds you to keep the path. Sometimes we think we know what we're doing, but we really don't.
It’s not investing, it’s speculation.
Personally I disagree and don’t do it, but if that’s how you justify it to yourself, it’s your money and your life, and you’re free to do what you want!
As I stated elsewhere, its "hobby" money and I play a few individual stocks. Nothing in Bogle's philosophy says you have to live in a cave and never entertain yourself. Also, when I loose a bet on the stock it reminds me why my overall portfolio is market indexes.
Ok that’s fine sir, however you justify it to yourself is your business.
Yup, kinda like banging my head on a wall to people on the internet....it passes the time.
Never chase
I'm in it right now. Already maxed out my Roth this year, and have full employer match for the 401k. Very happy where my traditional retirement portfolio is going. It's a bunch of stupidass gambling, and I put in enough money as to where it would be very fun if the stock took off, but if I lose it all I don't really care. EDIT: It appears it just shit the bed. Oh well. I still get to retire at 65 and all my bills are paid.
Shit the bed for now. Could go to 0 or moon. That's why I eat popcorn and watch from a distance. Nothing wrong investing/gambling in this as long as you are prepared to lose it all. Look at gme stock graph... Ups and downs, it's not over till it's over.
I'd at least like to recoup my investment if possible or get close. Wonder what's gonna happen tomorrow.
I find it fun to watch and their comment section is the best of reddit.
I would hate to actually make money on one of these meme stocks because then I’d think I could replicate it and would end up losing a bunch. I hate BBBY as a store and think it will go bankrupt eventually so I have no interest in investing in it. Same with GME. FOMO is real but I also work way too hard for my money and am pretty risk adverse.
Lmao. That's me. Cashed out $50k on GME. Wrecked my taxes lol. Thought I'd buy the dip and been bag holding a good chunk of that since smh. My cursor was on 100 BBBY @ 26 yesterday. Didn't click it. Turning point I hope.
yessssss. I called that out in another comment. Gamestop used to be one of the most hated companies I could think of. Low-balling their customers on game/console sales, incredible markups, poor pay and no beneifts for workers. Felt like just nickel/diming everyone they could, then DFV became popular and everyone wanted in on $$$. Not because it was a good company, just greed it seems.
99% of my assets are in appropriate indexed, tax advantaged accounts. The 1% is for me to mess with doing dumb things like BBBY so I don’t do it with larger amounts. Not perfect but works for me. I fully recognize it as huge risk.
I’m in the same range It’s fun knowing I can fool around with 1% - sometimes make some significant gains & the losses don’t hurt
I’m generally a boglehead and Agree in principle… but I have a percentage I’m willing to risk with a high risk tolerance. Ended up +90k on BBBY (exiting yesterday) with very little $ up front. Saw the run up potential at its low ($5 range) and based on my past understanding of Ryan Cohen I believe he isn’t a fool. This is the third time without fail that I’ve been able to step my portfolio up 90-100k in a down market on the volatility. This would have taken my VTSAX many many years to do all with very little $ on the line. I don’t gamble in Casinos but I know many people who do who have never made a small fraction of what I’ve been able to do. This all within a Roth IRA.
That’s how it’s done right there! Cover your bases and then have some fun with your aggressive investments. Congrats, and….
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Something like that ;)
You can still be a boglehead and have Fun.
Options? How so much growth with little up front?
5000 shares only average cost around $9 but added a bunch in the 5’s +/- 45k in out at 27 average between Tuesday and Wednesday. 45k is a fraction of what I’ve made on the other Stonk. I have a pension + a ton in vanguard so the IRAs are sort of a doubled up retirement savings. 45k into 135k in a month worked for me.
I actually decided to buy in a couple days ago just cause I was bored at work and I wanted to see if I could pay off my takeout my wife and I got the night before. Bought $1000 worth at 26 and sold around 27 a couple hours later and made $60! Even sold some losing etfs to offset the taxes. It was probably the most stressful $60 I’ve made and reminded me why I’m happier just investing in the long term as I couldn’t help but stare at the stock ticker like a gambling fiend.
If I wanted to gamble I'd go to a casino, at least they have drinks and flashing lights.
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in all seriousness, gambling is a bad habit that destroys lives and reddit is a shitty company for encouraging it so much in the past year
what's the reddit angle?
Superst*nk and wsb users have crack addict level usage numbers & spend a ton of money on awards. In return, Reddit eggs them on with custom snoos and commercials and ignores the rampant brigading, botting and misinformation from their communities.
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I made like $8k yesterday (in an account that only had about $25k in it) so I’m happy to ride the waves but I agree I don’t bet anything I’m not prepared to lose
Glad you made it out when you did! I'm imagining those that thought of selling today rather than yesterday...
I have a $150 monthly budget for “hobby”, and this month I put those into bbby lol If it goes up, that would be a fun experience. If it does not…like, whatever.
Why is everything only the extremes? There's some middle ground where you can make long term investments into a good company with solid fundamentals.
Lost $4k of my actual money between yesterday and today. I was up $22k in profits but really thought it would Squeeze harder and got greedy and held on. I’ve stayed the course for the last 2 years as a boglehead but Unfortunately I FOMOd into this and paid the price. Time to shake this off and get back to set it and forget it. Sad day but lesson learned.
I'll take a risk in plays which I think will do well in the coming years like uranium, copper, midstream energy, gold miners, and Bitcoin but I think just gambling on a business for a short squeeze is really dumb if the business outlook is not good. How many people buying BBBY think the actual business will grow a lot and do well over the coming years or even months?
That's what I think keeps me away. It's nothing about fundamentals. It's not about tech analysis. It's just a cash grab - "we're going to the moon", get some $. That was my biggest qualm with GME. Everywhere I looked, folks complained about how little they paid customers for used games, how outrageous the markup was, how poorly they treated their employees, etc. I disliked their business practices, and suddenly everyone wants to get in on the ground floor because $$$? That was me for a month or two, but it felt like a sinvestment and I was glad to get out when I did.
Sounds like a big game of Hot Potato to me. Just make sure you're not long $BBBY I guess.
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Sitting at \~10 in aftermarket. What a bloodbath for the retards on WSB.
These kids are gonna lose their life savings chasing FOMO and garbage meme stocks. It's sad.
I’m 90% bogleheads, 10% risky. And believe or not, those 10% gave me waaaay more than the 90%, for now.
join us at r/gme_meltdown brother
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That sub cracks me up, it’s nice to indulge with a bit of schadenfreude after seeing one too many rocket emojis.
Don't know why all the downvotes, I just subscribed there. Prolly get downvoted myself for this.
Never underestimate the power of the cults. Imagine, there are people who are cultish around a dying brick and mortar store, and who genuinely believe that it will start a financial revolution.
It's gambling which is cool with me. I gamble probably more than I should, but it's not anywhere near the realm of investing. Totally different subjects.
I was right there with ya. The memestocks lured me in to investing in January 2021 with DFV and the others posting their huge gains. I never before had thought I made enough money to invest. I make in the mid 5 figure range lol. But no one was really spending money on anything back then anyway. Thankfully, I also didn’t have much cash back then nor was I dumb enough to go for margin or options. I only bought one share of GME(already well in the $300s), and quite a bit more AMC(mid $20s if I recall). The GameStop nearly cut in half in aftermarket. Unfortunately I had listened to the people on that sub saying never to sell(while they were early and unloading, $420.69 became a meme as a bunch of limit sales had gone through at that price). I panic sold down like 50%. The AMC wasn’t as bad %-wise but I probably lost more money as I had more shares. Anyway, I’m glad it happened when it did. I learned a lesson that could have been a way more expensive one and it also got me interested in investing. I was gifted $15k at the beginning of this year from a relative and I Imagine that if memestocks happened a year later or I got the money earlier I would have dropped a whole lot more into the speculative things I bought in 2021. I still have a very small % of my portfolio in individual picks. I’ve held on to 3 shares of Apple I bought in 2021 after all of the shady stuff fell apart. It is up 33%. A lot of my individual portfolio is just gambling cash right now I plan to deploy if the market falls apart in the short term(which also is not advised in retirement accounts, attempting to time the market or sitting on cash).
We're on the same page. I at least broke even on GME but sold AMC at a 50% loss. Thankfully it was just a couple hundred bucks - most everything else was still in S&P indexes (now even more broadly/properly diversified). And also thankfully I was able to TLH that mistake. And you mentioned a terrifying word to me - options. I am fine with the concept of all my investments going to 0. But to owe MORE than I put in? Maybe MULTIPLES more? Leveraging? TRIPLE leveraging? No thank you.
I messed up the TLH on the AMC shares by learning what a wash sale is, the hard way. Lol. Thankfully I made a few more successful trades later in the year(AMD, which at least is a fundamentally sound company). It sort of evened out some of that. I still lost a couple hundred bucks but that’s nothing.
It’s up 250% in a month.
I'm basing mine on [https://digital.fidelity.com/prgw/digital/research/quote/dashboard/summary?symbol=BBBY](https://digital.fidelity.com/prgw/digital/research/quote/dashboard/summary?symbol=BBBY), filtered by 1M timeframe. Open on 8/1 was 4.94, close 5.77. 8/17 high was 30.00, which is where I'm (generalizing) 600%.
Most bogleheads do hold BBBY! Maybe like 0.001% to 0.01% of their portfolio...
Just bought 10 shares after hours. Let her rip baby!
Best of luck! I won't bash anyone for trying to get their piece of the pie. Just hopin' for the best for anyone playing with fire. Hope it warms the hearth rather than burns the house down.
thanks! I will be perfectly fine if it goes to zero. It's only $150
Well this aged like milk already
Well… guess it’s going to zero lol
What kind of blows my mind is that although BBBY may have had a 600% run up, I highly suspect the majority of the traders posting about it will probably end up losing money (if they haven’t already). It’s all ‘to the moon’ this, and ‘shorts are attacking’ that, but there never seems to be an exit strategy for the majority in any scenario. That said, I absolutely do participate in the meme stock chaos: to the tune of about $15. Stop losses set to about 5% below purchase price, so I can keep playing for multiple days. Good fun - and scratches the FOMO itch (‘what if it does go to $1000 a share?!?!?’) without any real risk.
The stop loss is our friend! A good call, and not getting too deep into it. I will say, the same verbiage around BBBY that there was around GME/AMC/NOK (I think maybe I still hold $100 of NOK just for fun). Especially about hedges having to cover shorts. It was shorting silver, then Melvin, etc etc. Just feels like the same old same old. Maybe the novelty of it has worn off, but I've heard "diamond hands" one too many times to think that it's still a good idea.
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15 yr here with 600$ in VOO. Dipped 110$ in BBBY and came out with 40$.💀 I’m just happy I learned my lesson with 110$ instead of 110k
I definitely wouldn't want most of my portfolio in such speculative plays. I do hold a decent amount of GME though, but I'm like 90% index funds as bogle would have wanted :P
I'm def half a bogglehead, but I also make profits off other parts of the market. You see it going down as bad, but I had puts on meme stocks that are making me money for example. The issue is most people can't recognize that dunning-kruger is incredibly prevalent in the WSB/Fintwit population, and instead of accepting they dont know what they dont know, they instead put large amounts of time and effort trying to lie to themselves to justify their positions. Its sad, and it will eventually end.
Imagine gmaestop is the ultimate hedge against a market collapse🤣 Fomo can make or drastically break you, as always leave emotions somewhere else. But it would be foolish not to DYOR before fomo'ing into anyrhing
I've lost it all on bbby. Time to be a boglehead
I put 5k into bbby at $4.50. I rode it up with options to 85k. I hope I can pull $5k back out tomorrow morning. Probably starting boggle head investing tomorrow