Talk about strange bedfellows...

In the midst of hedge fund manager's attempt to destroy GameStop a funny think happened, they failed at least for now.

Out of this came something I thought i'd never see, leftist rising to the defense if hedge fund managers. It's like the Japanese or Norwegians ridding the seas of whaling ships, or climate alarmists admitting that they really have no idea what's going on regarding climate change.

But I don't see that big an issue after all you can't have big government without big business and vice versa.

 

You've simply noticed the dissonance of the party. They actually aren't for the little guy. If they were, they'd be the first to line up being the RWBs folks. What we are actually seeing is the fascism that the left accuse everyone else of. This is big business using government to change rules to protect the most wealthy among us. Where is Liz Warren leading the charge of the zip tie brigade assaulting wall st for their obvious abuse of their power here? Maybe smoke signals don't work in blizzards, but isn't this exactly what liz warren was always so vocally against in her career? And now, nothing? I about laughed myself sick when I heard the words, "the good hedge funds provide" coming from an anchor on MSNBC. I thought dude said something illegal and got away with it or something.

For all the folks that fell for the whole Robinhood brand.. damn....

 

I feel so misunderstood.


I don't feel so bad for the hedge fund managers as I do for the little guys that bought GME at $300.

 

And you speak for all leftist the way I speak for all conservatives.
But then the left's defense of social media monopolies is of a piece.

 

Which only goes to prove, "you cannot make a silk purse out of a sows ear."

 

There's no real difference in principle between the left's strident assault on day traders and their equally strident defense of the tech and social media monopolies. It's all part and parcel of the same sick puzzle. It's like watching feminists gripe about misogyny while knowing full well that "Fifty Shades of Gray" doesn't cover it's publishing costs without a huge female following.

 

Show us one actual quote where "leftists" defended the hedge fund managers? Just one.

 

When you attack the day traders as Don limon did the other night while essentially holding the hedge funds harmless ...

 

This is not about what people choose to buy; its about having the power to control what people can buy and who gets to make money. Its not about feeling bad; its about a level playing field.

 

That rightwing she-devil Liz Warren has been harping about this systemic rot in our financial system for years.

It’s a wonder Trumpist’s don’t have whiplash the way they jump from one side of an issue to the other.

 

Are you talking about when they stopped trading?
What do you think happened there?

 

So, no quotes? As expected. You gotta have a little more evidence than what you provided to support your allegation, i.e. more than zero evidence.

 

Greed combined with power. BTW, I have never shorted a stock or even taken a short position. Those that want to take that risk should be able to do so without interference.

 

Sorry you really thing big hedge funds should be able to murder small business for fun and profit?

 

My position is the exact opposite.

 

Good. The hedge funds funds make money by destroying things. Even Snopes admits that Soros made significant portions of his wealth via currency manipulation against small countries. All in all its the same rotten game. GameStop was saved at least temporarily by the day traders buying what the hedge funds were shorting. They took a major bite out of the hedge funds back side because of margin calls. Now the argument the latter are making is that RobinHood had no choice but to stop the buy while they waited for the capital from all those buys to clear. How much of that is true and how much is smoke screen or a combination of the two I have no idea. What I do know is that at some point it became far more about poking the hedge funds in the eye than making money. Whether that's a good motive for risking financial ruin is a matter of individual choice and stopping the buying save the butts of a lot of hedge funds one of which quite well connected to the Biden admin and Obama before that.

 

It appears that Robin Hood was stealing from the poor and giving it to the rich. Game Stop should get a boost as soon as stimulus checks are mailed out. $600. is enough for a new Playstation and the new Call of Duty

 

My pref is go civ games and some if the older RPGs

 

I used to play Civilization I and Unreal Tournament. Those were the times ... before the kids arrived.

 

Short trading has one dangerous aspect. It is that not only are the short traders betting on a price decline, they are also contributing to it happening. That is the problem with short trading and the reason speculators engage in it. It is one thing to make a bet with someone else's money and yet another to cause the bet to become a winner.

I would like to see the practice eliminated. That would level the playing field.

 

Any buying or selling contributes to the increase in price or drop in price happening. That's not unique to short selling. It's a scientific law: It is called the observer effect, i.e. the disturbance of an observed system by the act of observation. Buying and selling is more than just observation, you temper with the system. Clearly, it will affect future price. For normal investors, the effect of buying or selling on the stock price is too small to be significant. However, with institutional capital, the amount of shares bought or sold are much larger, so they could directly affect the stock price.

https://www.thebalance.com/how-to-legally-manipulate-stock-prices-3140856

So, you see, this practice is not just related to shorting.

 

Yeh my career as a tournament chess player ended about the time we adopted our daughter.

 

Now, my son plays battle royal, in which I probably wouldn't last more than minutes.

 

The difference is that the institutional short sellers gang up on a weak stock with the purpose of destroying its value. The more value that is destroyed the greater the return to the short sellers. People who buy long are not intent on destroying the value of the stock or the company. It is not the same thing at all.