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Amphigory posted:Also, that last person was relying on $3k to not be financially ruined He was relying on 3k a year for the rest of his life I think since he said "Some of us have a lifetime of writeoffs"
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Oct 19, 2023 00:42
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wilderthanmild posted:He was relying on 3k a year for the rest of his life I think since he said "Some of us have a lifetime of writeoffs" ONE WEIRD TRICK
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Oct 19, 2023 01:11
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how long until Overbabystockbuybath.gov changes its name back?
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Oct 19, 2023 05:37
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or whatever the gently caress it's called now idk 
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Oct 19, 2023 05:38
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bullish, trust the plan
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Oct 19, 2023 05:51
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Has there been any word around these idiots about them buying Tesla stock after it started tanking?
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Oct 19, 2023 05:59
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I always love the "Do this thing! Here's my proof that thing is totally the smart thing to do. Disclaimer do not do this thing I am stupid!" Structure of their posts.
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Oct 19, 2023 19:42
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wilderthanmild posted:I always love the "Do this thing! Here's my proof that thing is totally the smart thing to do. Disclaimer do not do this thing I am stupid!" Structure of their posts. They specifically do this because they think like sovcitizens, a few magic words will absolve them of penalty or consequences. “It’s not financial advice,” “I’m just a [reddit word], don’t listen to me,” was their cover to say anything but then immediately shirk responsibility when everything falls out from underneath. The louder you are, the more idiots that buy, and the more likely you can cash out or at least that’s what the grifters amongst them were playing it as.
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Oct 19, 2023 20:24
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Mercury_Storm posted:thjey will pry those DRSed shares from my cold dead hands The more shares they delete, the more valuable your shares will become!
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Oct 19, 2023 20:27
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I thought "This is not financial advice" was meant as a legal cover, aka people who take the advice and eat poo poo couldn't turn around and sue because "well, that was just like, my opinion, man"
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Oct 19, 2023 21:33
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Code Jockey posted:I thought "This is not financial advice" was meant as a legal cover Pretty sure that's exactly how it's meant. I'm much less sure that this actually provides legal cover. Not that any of the newly-destitute will be hiring lawyers to go after clearly insane people on YouTube for making idiotic claims that dozens of people repeatedly advised were dumb.
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Oct 19, 2023 21:39
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That's exactly it. But it's also silly because these muppets are not registered investment advisors so the laws regulating giving financial advice do not apply to them. You can't sue the drunkard at your local pub for telling you to buy beanie babies just because you were dumb enough to believe him.
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Oct 19, 2023 21:54
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Collateral Damage posted:That's exactly it. But it's also silly because these muppets are not registered investment advisors so the laws regulating giving financial advice do not apply to them. You can sue anybody you like, but the odds that this suit gets thrown out are really high, and the odds that any random lawyer would advise you it'll get thrown out and/or would refuse to take the case are also really high. The more this thread makes me think this through, the more likely it seems like one of these idiots is going to file suit with no legal representation, throwing more money into the toilet.
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Oct 19, 2023 21:58
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onesixtwo posted:They specifically do this because they think like sovcitizens, a few magic words will absolve them of penalty or consequences. “It’s not financial advice,” “I’m just a [reddit word], don’t listen to me,” was their cover to say anything but then immediately shirk responsibility when everything falls out from underneath. The louder you are, the more idiots that buy, and the more likely you can cash out or at least that’s what the grifters amongst them were playing it as. Stonk-themed Minecraft server
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Oct 19, 2023 22:10
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The shills that suppressed the Heat Lamp Theory are now coming for the Teddy Butterfly hypothesis. Sad! We can only imagine the historical moment when a sweaty ape sitting in an empty McDonald's late at night, staring at the burgers under the heat lamp, spontaneously had an Isaac Newton-like "Eureka!" moment. "The burgers under a heat lamp behave exactly like DRS shares! I knew it! The shorts were always wrong!" (this is what the theory actually is) Rad Russian fucked around with this message at 22:34 on Oct 19, 2023 |
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Oct 19, 2023 22:26
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I saw, maybe in the other thread, a reddit post where someone quoted a loss of $76K CAD. That's the biggest I've heard so far. Has anyone seen anything that tops that in terms of meme stock investment loss?
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Oct 19, 2023 23:36
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Planet X posted:I saw, maybe in the other thread, a reddit post where someone quoted a loss of $76K CAD. That's the biggest I've heard so far. Has anyone seen anything that tops that in terms of meme stock investment loss? I've definitely seen losses in excess of 100k before. That guy I posted a few days ago that I was pretty sure was trying avoid mentioning BBBY was trying to sue his brokerage over 380k.
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Oct 20, 2023 00:09
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Koburn posted:Brokers are starting to delete BBBYQ shares from accounts. It's becoming increasingly difficult to find a silver lining. If they can "remove" "worthless" securities they can just as easily "add" "valuable" securities, you jealous dumbass.
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Oct 20, 2023 00:12
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Ariong posted:This person was literally under the impression that the government reimburses every American taxpayer for up to $3,000 worth of stock market losses per year. lmao its so loving insane. The one weird trick the IRS doesn't want you to know!
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Oct 20, 2023 00:21
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https://www.reddit.com/r/BBBY/comments/17a67r7/new_dockets_filed_today_24722481/ saw this thread the other day where people are talking about being down $120k and $137k
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Oct 20, 2023 00:41
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Two random comments I found right on a recent r/bbby post:quote:I’m down $120,000 US on my BBBYQ. quote:You are not alone. I’m down $137K - and I have not said anything to my beautiful wife. I still have faith this will work out for all of us! While I think a lot of BBBY losses are more like a few thousand to low tens of thousands, I think there are plenty of these people who burned a significant portion of their reasonably decent life savings on BBBY.
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Oct 20, 2023 00:54
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Ariong posted:This person was literally under the impression that the government reimburses every American taxpayer for up to $3,000 worth of stock market losses per year. i was like theres no way this is right but it sort of is? https://turbotax.intuit.com/tax-tips/investments-and-taxes/capital-gains-and-losses/L7GF1ouP8 im bad at both math and taxes but if im reading this right if you only have losses which lets be real these nerds only have losses then you can report up to 3k of it. t he part i dont get is why is this legal and why does it apparently carry foward. snergle fucked around with this message at 01:39 on Oct 20, 2023 |
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Oct 20, 2023 01:33
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snergle posted:i was like theres no way this is right but it sort of is? https://turbotax.intuit.com/tax-tips/investments-and-taxes/capital-gains-and-losses/L7GF1ouP8 Yeah, but it's a 3k deduction, meaning someone who makes 50k just get taxed like they make 47000 and is a much smaller benefit than the $3k/year tax credit this guy thought he was getting.
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Oct 20, 2023 01:48
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Cross-posting from the Bitcoin thread:Sardonik posted:Mass removal of cancelled BBBYQ shares today from brokerages, seems like at least a few cultists are starting to wake up: Huh, that's a new one. Instead of FYGM, it would be, "got mine, shove a watermelon up your rear end!"
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Oct 20, 2023 02:02
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wilderthanmild posted:Two random comments I found right on a recent r/bbby post: Webull says the market cap is 55 million. It has slipped from number five on the popularity to number 14 on popularity over the last few days. This means a massive of people are still following a stock that just says “delisted.” I of course am following the stock because it has a feed of people talking about it and if I ever feel down I can always go there and have a good laugh. Apes are starting to realize that they are being lied to and GameStop has been having a pretty rough week as a result .
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Oct 20, 2023 02:58
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spunkshui posted:Webull says the market cap is 55 million. They've only really been lying to themselves. The actual announcements by the company were all quite clear.
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Oct 20, 2023 03:05
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wilderthanmild posted:Two random comments I found right on a recent r/bbby post: I have no idea why anyone would do this if they actually believed their own mythology. The shares become infinitely valuable. So buy maybe 5 shares? Sell one after MOASS for phone numbers and live that rich life, sell another in 10 years for another huge cash infusion, keep the remaining 3.
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Oct 20, 2023 04:28
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I think part of it was that their *one weird trick* only works if they all buy a massive number of shares. I'm not 100% on this though.
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Oct 20, 2023 04:45
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yes but if you don't buy more shares then do you really believe in the MOASS? you believe in the MOASS, don't you?
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Oct 20, 2023 04:51
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Their plan was just "buy a bunch of shares in a company we have nostalgia for, wait around, be rich." That's it. Everything else is window dressing, they were wishing that the whole GME thing didn't need all the extra conditions, just the ones they liked. Hence them wanting to buy shares in, like, toys r us and poo poo. Buy shares, wait, be rich. The conspiracy theories all boil down to "just wait" because it's not like they can actually do anything other than buy shares and wait.
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Oct 20, 2023 04:54
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Yea, if your shares each are worth a billion dollars, wouldn't you want more of them? What, do you want to be the poorest of the new ape class? Do you want the worst option out of all the apes when you cash in your wife changing money? Even if they reach infinite value, wouldn't you want a little more infinity than the other apes? I'd not look for logical consistency when examining these people anyway.
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Oct 20, 2023 04:56
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Yottainflation caused by all the trillion-dollar shares means it costs a few billion to get a coke from the vending machine.
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Oct 20, 2023 05:03
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Inflation is a good point here. If these people were suddenly rich the price of the only things they care about (nfts and anime body pillows) would sky rocket.
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Oct 20, 2023 05:10
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Yeah but the poors would all work for them for nothing cause they control all the wealth. And they'd buy the NFT and body pillow companies with their infinite dollars and make it cheap anyway. Inflation would only be for the poors. And also they'd just buy out inflation, cause infinite money. This is why you're all ape poor duh.
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Oct 20, 2023 05:12
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When MOASS happens and the world economy is in ruins, you'll just need to trade ONE share of BBBQY for all of the chickens and grain seed you'll ever need for your subsistence farm in radiation-scorched Idaho
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Oct 20, 2023 05:34
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Worst Ape Wife Option is a solid username
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Oct 20, 2023 05:51
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Let's do a little roundup of what's going on in the meme stock communities this week. GameStop apes are all abuzz about two headlines: The SEC implemented a rule change requiring hedge funds to disclose their short positions, and a bunch of news outlets are calling Citadel Connect a dark pool. The former is big news if you believe that hedge funds secretly use short positions to drive companies to bankruptcy and live in constant fear of their nefarious schemes being exposed, but if you are a normal person then it is just a minor change to reporting requirements. The latter... okay so a dark pool is basically a small exchange where the trades are not visible to the public and thus don't immediately effect the share price. Dark pools are a common thing for apes to gesture at as something that seems like it could definitely be probably helping some people commit some crimes, somehow. In this case they are furious because Citadel failed to file some form that you're supposed to file when you operate a dark pool, which is of course a travesty of injustice and definitely not a mostly meaningless act of bureaucratic negligence.  Pictured: Ape uncovers yet more irrefutable evidence of widespread financial malfeasance (number go down). AMC apes... seem to think the global banking system is about to collapse or something? I'm not quite sure. AMC apes are to GME apes as elephants are to manatees: they have a lot of superficial similarities and they are the closest relatives to one another, but there are a lot of differences. I have trouble following the storylines and shibboleths of the AMC ones.   For the BBBY apes, the new way to keep hope alive appears to be getting in contact with one's broker's help desk and hoping whoever they have answering calls says something bullish. These people have no more insight into the inner workings of the BBBYQ bankruptcy than anyone else and likely have about as much financial expertise as the average level 1 tech support desk jockey has computer expertise. However, sometimes they say you may not have thrown all your money in a fire, which means their word is gospel.   Finally, in the world of Sears... HOLY poo poo, MOASS?????????  My Spirit Otter posted:i thought sears went out of business like 10 years ago, how is buying sears stock even a conversation?? Hey I saw this post when you posted it but forgot to respond. The answer is: it isn't. Sears stock has been cancelled. The Sears ape community is very small and made up of people who had Sears stock before it was cancelled and hope that it will somehow still make them rich. Possible that there are also people who have been conned into thinking they have somehow bought Sears shares? It's hard to say because people who were tricked into buying fake Sears stock would now have the same number of shares as people who at some point bought actual Sears stock: zero. None of that applies to Sears Canada. Sears Canada is a separate spinoff company that has somehow managed to trudge along a lot longer than regular Sears. Sears Canada is currently where Bed, Bath, and Beyond was earlier this year: In the process of bankruptcy, stock below $1 and trading on the expert market but not yet cancelled. snergle posted:i was like theres no way this is right but it sort of is? https://turbotax.intuit.com/tax-tips/investments-and-taxes/capital-gains-and-losses/L7GF1ouP8 No, you don't get $3,000. You get a reduction in your taxes as if you had made $3,000 less. That's not the same thing as paying $3,000 less in taxes. Here's an example: If you pay 10% of your income in tax and you make $100,000 in a year, you will pay $10,000 in taxes. However if you report a $3,000 stock market loss, you will be taxed as if you made $97,000 and you will pay $9,700 in taxes. Tax savings = (deduction from income * income tax rate)
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Oct 20, 2023 06:24
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No government is ever going to give you more in taxes back than you paid. That would be asinine. Over here the idea of putting things on tax returns is to maximise returns, or offset potential debt. But if you have a balance of, say, $2000 on your return then it doesn't matter if you even legally write several thousand more off, you aren't getting more than what you paid and can be owed. Otherwise you'd have idiots trying to "earn" as little as possible while writing off everything to make "free money".
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Oct 20, 2023 06:35
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I like the "usually I don't believe a word these people say because it goes against my world view but today someone said something that maybe didn't so I think I'll believe them this time." part
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Oct 20, 2023 06:38
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syntaxfunction posted:No government is ever going to give you more in taxes back than you paid. That would be asinine. Over here the idea of putting things on tax returns is to maximise returns, or offset potential debt. But if you have a balance of, say, $2000 on your return then it doesn't matter if you even legally write several thousand more off, you aren't getting more than what you paid and can be owed. Otherwise you'd have idiots trying to "earn" as little as possible while writing off everything to make "free money". The US government will do that for some things. Various terminology: Deduction: You lost some money in a way that tax law says reduces your taxable income instead of being like ordinary consumption spending. Your income tax bill is treated as if you had never gotten the income at all. $1 of deduction is not worth $1 of tax saved because your marginal tax rate is less than 100%. Examples: If you got paid some money and spent it paying property tax to your state government, that income doesn't count for income tax. Or money you give to charity. Capital gains losses on stocks are also here. Nonrefundable Credit: After the amount of tax you owe is calculated, nonrefundable credits are subtracted off the bill at $1:$1, to a minimum of a $0 bill. Examples: Foreign Tax Credit discounts your US tax bill by however much you paid to a foreign government that the US has a tax treaty with. The tax incentive for buying an electric car was also a nonrefundable credit Refundable Credit: Like a nonrefundable credit, but applied after all of those and can take your total taxes negative to create a bigger refund than the total amount you've paid. They are really backdoor social programs, even more than tax policy normally is. Example: Earned Income Tax Credit is for low income working people with dependent children (or are very poor, <$17k yearly income). The Additional Child Tax Credit (less income restrictions, based on child count) is also refundable
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Oct 20, 2023 07:26
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