Stonks: Shortin' The Hedgefund

The Something Awful Forums > Discussion > Video Games > Stonks: Shortin' The Hedgefund

Instruction Manuel: May 15, 2007; Yes, it is what it looks like!

Rule of stock trading is the same as gambling. Only put in what you are willing to lose. You have to be comfortable with the fact that whatever you put in can just vanish like a fart in the wind and jfc don't short a stock unless you live, eat and breathe this crap. Oh and if someone says it's nothing like gambling, bullshit it is exactly like gambling except you don't even get the satisfaction of hearing the clack of casino chips.

# ¿ Jan 28, 2021 06:57

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# ¿ May 15, 2024 02:17

Instruction Manuel: May 15, 2007; Yes, it is what it looks like!

adoration for none posted:

RobinHood blocking the purchase of GME and other stocks is getting some blowback from unexpected corners:
https://twitter.com/RashidaTlaib/status/1354807292667981828?s=20
https://twitter.com/tedcruz/status/1354833603943931905?s=20

It looks we have Ben Shapiro, Ted Cruz, and the Squad in agreement that RobinHood should face consequences

If anyone doesn't know this yet, Ted Cruz is an opportunist and is trying to fish for votes. Don't believe anything out of his lying mouth.

Acerbatus posted:

They're kinda forced to, if my understanding is correct.

To my understanding, Robin Hood probably has a contract with a brokerage about being a fiduciary, meaning they’re legally obligated to protect you from yourself. See last month how Massachusetts regulators filed a complaint that they were exposing investors to unnecessary risks.

Now, with the average dumbass who doesn't even know how to buy stocks hearing all about the STONKS memes, a lot of people who don't understand the risk they're getting into are likely to spend a lot of money they really can't afford to which is naturally going to lead to a lot of very angry people looking for someone to blame.

It's possible that they're just doing it because they're in with rich people or whatever; But they stand to actually lose a lot of money themselves if they don't save people from their own stupidity.

As for why hedge funds can still buy them, I assume it's because they are legally obliged to buy them already.

Robinhood was given money by Citadel which owns Melvin, the hedge fund in question. There is a conflict of interest.

# ¿ Jan 29, 2021 03:31

Instruction Manuel: May 15, 2007; Yes, it is what it looks like!

Unlucky7 posted:

AOC already Ethered him.

https://twitter.com/AOC/status/1354848253729234944?s=20

Lol I saw that

# ¿ Jan 29, 2021 04:54

Instruction Manuel: May 15, 2007; Yes, it is what it looks like!

Mister Facetious posted:

“If you killed Ted Cruz on the floor of the Senate, and the trial was in the Senate, nobody would convict you,”
- Lindsay Graham

BexGu posted:

Lol, just like voting again for Nancy Pelosi AOC will be a good little Dem and not do anything but talk.

lol right? they're friggin useless

# ¿ Jan 29, 2021 15:40

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