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Impossibly Perfect Sphere posted:Has anyone gone in there and mention that like, oh I dunno, Google stock is up over 37% year over year? Investing in individual stocks is a bad idea for a non-pro, but even just picking any of the most basic tech companies would have given them a very nice return. Microsoft is up over 55%. "pffft, 55%? considering inflation you lost money, you dolt. have fun staying poor!"
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Nov 17, 2023 19:23
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crazy game breaking glitches for speedrunning are fun for speedrunning (specific categories of runs), but yeah "real" stuff has rules for "normal".
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Nov 17, 2023 19:34
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Neito posted:So a central depository agency has never failed, so we do not know what would happen in that case. Collateral Damage posted:No, not at the level the apes think. Apes seem to think that stock trading rules are as unchangable as the laws of thermodynamics and must be followed to the letter even if it would threaten the entire financial system. That's obviously not how things work in the real world. Appreciate it, that's about what I expected. Of all the things I think getting burned on Star Citizen is what taught me not to trust extraordinary claims on the internet. At least, without concrete evidence or an extremely solid track record. And even then, expect to possibly get screwed over and have a backup plan if it's important.
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Nov 17, 2023 19:37
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Wait, there’s a book of Joel?
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Nov 17, 2023 21:28
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Boxturret posted:I don't get what they mean when they say "RC [...] not born with a silver spoon in their rear end". Like...didn't the whole Teddy thing come from him writing a book about all the life lessons his rich grandfather taught him in between flying around the world? How is Ryan Cohen an everyman lol. Because culturally they understand old rich money is bad. As that has been ingrained into them. But they like him so that must mean he isn’t old money because he is good and old money is bad. They don’t want an Everyman they just want their guy to be an Everyman
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Nov 17, 2023 21:32
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does anyone hold short positions on these non-existent companies, how is a squeeze supposed to happen who are they squeezing
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Nov 17, 2023 22:30
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The hedges. Bros been holding those shorts for like 2 years
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Nov 17, 2023 22:36
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And the hedge funds with all their many shorts have to exist because the company failed, and in these people's minds a company can only fail if people short it, not other reason.
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Nov 17, 2023 22:49
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istewart posted:Wait, there’s a book of Joel? It's a lamentation of the time he was held prisoner by mad philosophers and forced to watch terrible plays in the amphitheater. (He was able to keep his sanity with the help of his golem friends.)
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Nov 17, 2023 23:01
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naem posted:does anyone hold short positions on these non-existent companies, how is a squeeze supposed to happen who are they squeezing In reality? No. There are no positions of any kind on $BBBY(Q) anymore. The stock is gone. Any outstanding shares have been extinguished and deleted. In a lot of the ape's heads, what's going to happen is that this is just a lull period before they're granted innumerable shares of infinitely valuable Teddy stock, which Ryan Cohen will personally deliver by carving each entitlement on the back of a dead hedge fund manager. The MOASS types at this point are mostly GameStop people; the BBBYQ apes have moved on to more potent cope methods. I believe some believe that the short positions will somehow transfer over to these Teddy stocks because [error: reason missing], and the shorts will have to pay piles of money to close their positions using this more valuable stock. Again, a stock that doesn't exist and will never exist, because Teddy isn't an Amazon killer that's going to usher in a new age where /u/fuck_the_hedgies420 is a captain of industry. It's a series of really bad ancap stories aimed at literal children. Neito fucked around with this message at 23:25 on Nov 17, 2023 |
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Nov 17, 2023 23:23
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Powered Descent posted:It's a lamentation of the time he was held prisoner by mad philosophers and forced to watch terrible plays in the amphitheater. (He was able to keep his sanity with the help of his golem friends.) For many years, scholars have wondered "how did he eat and breathe" and other biblical facts.
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Nov 17, 2023 23:37
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The Deleter posted:For many years, scholars have wondered "how did he eat and breathe" and other biblical facts. But that's a problem for the (not too distant) future. Sometime around Next Sunday, AD.
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Nov 17, 2023 23:37
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naem posted:does anyone hold short positions on these non-existent companies, how is a squeeze supposed to happen who are they squeezing There was a period of time at the very end where purchasing the stock was only allowed for short sellers (and traders who proved they had significant experience) so if any short position made it through that period without the holder closing it, it could only have been because the holder was dead or trapped in an abandoned mineshaft or something. On the off chance that any active trader does have an open short position on BBBY stock, what that means is that they have an outstanding promise to purchase a BBBY share at some point in the future and return it to a person to whom they originally borrowed the share, which they can no longer do. According to ape theory, because the borrower wants to purchase a stock for which the supply is zero, the demand is infinite and the borrower should be willing to accept any terms up to and including complete liquidation of all assets in exchange for forgiveness of one BBBY share. In reality what would happen is that the lender and borrower would negotiate a deal where the borrower gives the lender something else of value and the lender forgives the debt. Since the "debt" is one or more BBBY shares, which are now worthless, any amount of money would be sufficient to forgive. I suppose the other option would be for the lender to sue for whatever they think they ought to get, but good luck convincing a judge that a person who owes you BBBY shares has caused you financial damage by not getting them to you. Again though, there are almost certainly no open short positions on BBBY shares, and if there are, they are probably never going to be followed up on by the involved parties.
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Nov 18, 2023 00:43
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Collateral Damage posted:If there ever was a uncontrolled squeeze that threatens the system, the exchange would go "No this is stupid, we're pausing the game and fixing this". As has been pointed out previously, this happened just last year. It hurt the exchange's trust and reputation, not because they suspended trading but because they allowed the squeeze to happen in the first place.  But seriously thanks for posting that. It's fascinating to learn what happens in the real world in a similar situation. istewart posted:Wait, there’s a book of Joel? Powered Descent posted:It's a lamentation of the time he was held prisoner by mad philosophers and forced to watch terrible plays in the amphitheater. (He was able to keep his sanity with the help of his golem friends.) The Deleter posted:For many years, scholars have wondered "how did he eat and breathe" and other biblical facts. Neito posted:But that's a problem for the (not too distant) future. Sometime around Next Sunday, AD. I love you all
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Nov 18, 2023 03:39
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vortmax posted:I love you all Camera Obscura! Roma! Tomas Servitus! Coooorvus!
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Nov 18, 2023 04:32
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MSTMMM Edit: MST3BC rydiafan fucked around with this message at 07:50 on Nov 18, 2023 |
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Nov 18, 2023 07:35
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Amazing. This is the current most upvoted post in /r/ThePPshow
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Nov 18, 2023 14:57
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So wait they fixed the financial system already? So moass doesn’t actually do anything
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Nov 18, 2023 15:51
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CharlestheHammer posted:So wait they fixed the financial system already? they drove up the stock price and made ryan cohen a lot of money when he dumped the stock
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Nov 18, 2023 16:22
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Wait, who owns Bed Bath & Beyond now that it's coming back as an online-only retailer? Is it owned by a parent company with a different ticker symbol now?
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Nov 18, 2023 20:04
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I. M. Gei posted:Wait, who owns Bed Bath & Beyond now that it's coming back as an online-only retailer? I think its just overstock rebranded?
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Nov 18, 2023 20:08
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I. M. Gei posted:Wait, who owns Bed Bath & Beyond now that it's coming back as an online-only retailer? I think overstock bought the name but not the entity. Because the entity has negative value. Like it’s risks and debts are worth less than it’s net operating losses as tax write-offs.
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Nov 18, 2023 20:15
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I. M. Gei posted:Wait, who owns Bed Bath & Beyond now that it's coming back as an online-only retailer? Overstock.com, who then rebranded as "Beyond Inc". They are now trading as BYON. Amusingly, Overstock has it's own history with meme stocks, idiots who think short sellers are the evil globalist (((string-pullers))), and a former CEO who filed a $3 billion lawsuit against various wall street financial firms for supposed naked shorts. pseudanonymous posted:Because the entity has negative value. Like it’s risks and debts are worth less than it’s net operating losses as tax write-offs. Yeah all the physical stuff will be gathered up and auctioned off, with the pennies going to the creditors.
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Nov 18, 2023 20:27
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LASER BEAM DREAM posted:Amazing. This is the current most upvoted post in /r/ThePPshow https://www.youtube.com/watch?v=ut3I6gFmlls
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Nov 18, 2023 20:31
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I. M. Gei posted:Wait, who owns Bed Bath & Beyond now that it's coming back as an online-only retailer? Everything that was of value has been sold, piecemeal, to whoever was willing to pay the most for each piece. The Bed, Bath, and Beyond IP, as mentioned, was sold to a company previously called Overstock but now called Bed, Bath, and Beyond. Any buildings the company owned were put on the market and sold, and any inventory that could be resold was resold. I fondly remember a time when people on the GME_Meltdown subreddit were pointing and laughing at a flier from some local overstock retailer that was advertising a new shipment of excess BB&B stock. I guess they weren’t legally allowed to directly say where it was from but they made it extremely obvious. I’ll see it I can dig that up later when I’m not on my phone. There is one other thing they sold: Buy Buy Baby. You might not have heard of it, but it is very important to the whole saga. Buy Buy Baby was a subsidiary of Bed, Bath, and Beyond. It was a baby goods retailer. When Ryan Cohen was trying to weasel his way onto the BB&B board, he wrote an open letter saying he thought that Buy Buy Baby could have a billion-dollar evaluation. What he meant by this was “I think that this specific bit of industry-accepted accounting trickery could be used to inflate the value of this subsidiary on your balance sheet. If you put me on the board I can put this, and other bits of business genius, into practice.” What apes heard was “Buy Buy Baby, which is only a small part of Bed Bath and Beyond, is worth at least one billion dollars.” Never mind the fact that the man saying this was not a part of the company and thus had no special insight into its value. For this reason, when the bankruptcy was happening, apes were confident that the tide would be turned when they got to the selling of Buy Buy Baby and everyone discovered how incredibly valuable it was. The company put it up for auction, and the apes waited with baited breath as nothing happened for a while. Then the company pushed the end date forward, saying there were “no adequate bids”. The apes jumped for joy! No adequate bids???? But companies must be champing at the bit for it, putting in nine and ten figure bids! How much are those geniuses holding out for?! Then online baby goods retailer Dream on Me bought the intellectual property, digital assets, and the leases for 11 of the remaining physical locations for less than $17 million dollars. Nobody bought the remaining leases. EDIT: Oh hey, Dream on Me’s stated target date for reopening those physical locations is today. I wonder how that’s going. Ariong fucked around with this message at 21:01 on Nov 18, 2023 |
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Nov 18, 2023 20:59
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I. M. Gei posted:Wait, who owns Bed Bath & Beyond now that it's coming back as an online-only retailer? There is no BBBY anymore. The company once known as Bead Bath and Beyond sold everything including the rights to the name Bed Bath and Beyond, to other companies during the bankruptcy proceedings. Overstock is the company that bought the Bed Bath and Beyond name, but that's all they own, so it's not like stocks in BBBY transfer into Overstock stocks. The company formerly known as Bed Bath and Beyond declared bankruptcy and formally dissolved recently.
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Nov 18, 2023 21:14
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I liked when everything was on auction and nothing was selling the apes said it was because the company was just so valuable anyone buying it was going to do it privately for the billions of dollars it was worth, not get everything for a couple million.
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Nov 18, 2023 21:20
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pseudanonymous posted:I think overstock bought the name but not the entity. you can sell the entity in bankruptcy free and clear of the debts. as in if there was any value to the BBBY operation someone could have bid on it, they didn't have to clear the debt there were still absolutely no takers at any price
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Nov 19, 2023 01:21
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evilweasel posted:you can sell the entity in bankruptcy free and clear of the debts. as in if there was any value to the BBBY operation someone could have bid on it, they didn't have to clear the debt See also when Jeffrey of YOSPOS (LLC?) bought the assets of Something Awful LLC but none of the liabilities (without a bankruptcy)
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Nov 19, 2023 03:59
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vortmax posted:See also when Jeffrey of YOSPOS (LLC?) bought the assets of Something Awful LLC but none of the liabilities (without a bankruptcy) Except of course the goons.
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Nov 19, 2023 09:48
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One of the kinda basic things the apes don't get is that a business is not a person, everything about them is legally a seperate thing that can be bought, sold and exchanged seperately. That a name, in a business sense, is an asset, hence there are literal registered trademarks and business names, functioning much like say, usernames on a forum where they must be unique identifiers for the purposes of doing business, but can still be traded around, changed, retired and reused like any other asset. Look at Atari and how that's been passed around like a cheap bong at a frat house for decades. A company is nothing more than the sum of its parts, and everything else is marketing. Marketing and branding gives people the idea that a company has some kind of spiritual existence outside ledgers and brand recognition, which is absolutely not the case. Like pretty much everything with the loose libertarian sphere of cargo cult capitalism that the apes come from is credulous misunderstandings of how business works and a dogged mysticism around it. In the Gamestonk case, they saw what a bunch of cheeky rascals willing to risk some cash on a gamble based on exploiting a genuine opportunity from hedge funds misunderstanding the nature and current status of a business, and failed to understand basically every reason why that actually worked and why it was a one-time thing. Which is pretty common in business and increasingly entirely what Western capitalism is based around, the complete inability to understand externalities beyond uselessly context-less statistics, but that's another topic. Basically with the apes it's best to assume they are hilariously, downright surreally wrong about literally everything. And like a lot of people, their response to being repeatedly proven wrong is to double down with even more magical thinking and motivated reasoning to come up with literally any answer except the correct one, because the correct one would require them to acknowledge they have been idiots who've been wrong about literally everything from the start.
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Nov 19, 2023 10:14
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Deptfordx posted:Except of course the goons. At that point the biggest liability was the seller.
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Nov 19, 2023 10:27
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Ghost Leviathan posted:One of the kinda basic things the apes don't get is that a business is not a person Mitt "binders full of women" Romney posted:Corporations are people, my friend.
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Nov 19, 2023 17:32
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The PP Show subreddit was banned a few minutes ago while I was scaping another batch of screenshots. If I had to guess, it's related to PPSeeds doxing a member of the GME Apes a few days ago. This is on the morning after yet another great disappointment. I'm sure this will be seen as bullish.  I had a tab open from just before the ban. Posting for posterity    
LASER BEAM DREAM fucked around with this message at 18:50 on Nov 21, 2023 |
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Nov 21, 2023 18:38
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They've finally shown their last pp.
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Nov 21, 2023 18:59
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Don't worry...
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Nov 21, 2023 19:12
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lol at the second stickied thread. they knew this was coming.
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Nov 21, 2023 19:12
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You can tell someone is a loser who sucks up to rich people and loves getting stepped on by billionaires when they call it ‘X’.
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Nov 21, 2023 19:30
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lmao how trash do you have to be to get banned for loving mod misconduct.
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Nov 21, 2023 20:12
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gently caress. PPShow was like my pure heroin. I can't go back to the weaker poo poo.
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Nov 21, 2023 20:15
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