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  1. #941
    The Lightbringer zEmini's Avatar
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    Poor people dont do it because can't risk throwing away precious capital. Probably a smart decision.

  2. #942
    Quote Originally Posted by zEmini View Post
    Poor people dont do it because can't risk throwing away precious capital. Probably a smart decision.
    Yep, their risk is huge and their rewards are tiny.

    Even if you find some investment that is likely to double your money on the spot, how much money can a poor person actually put into it? And what in their lives are they risking to get that small return?

    It's a shit game for most people because percentage returns mean nothing when you're already scraping the bottom of the barrel, and there's a floor on what it costs to exist.

  3. #943
    Quote Originally Posted by Sorensen View Post
    I would say a lack of investment education.

    I'm the only person I know in person who has a brokerage account with anyone except some people who had gotten in just recently and they joined with options like RH, stash etc because they just don't know.
    Maybe the person who said this on Sunday:

    Quote Originally Posted by Sorensen View Post
    Video games are worth that much.

    I'm buying Monday. And so should everyone else.
    Should stop fooling themselves about their expertise on this subject.

  4. #944
    Quote Originally Posted by Bovinity Divinity View Post
    Imagine being the guy that's now a millionaire and a "brilliant investor" all because he bought up a ton of GME options and stock and then somehow managed to herd the masses for a day.

    It's weird because people try this stuff all the time, but this time it just happened to catch on. Maybe it was the perfect storm of a gaming-related stock, hate toward institutions being at a high, and whatever.
    Turns out he was not that "brilliant". I was watching one professional investor with a news letter on CNBC showing his news letter that showed the GME strat long before this shit even started.
    Turns out a whole bunch of people saw the same thing and it might not have even been his idea he just stumbled upon it while investing in GME

    Only difference is the WSB guy convinced the uneducated masses to follow him as he sold a little bit at a time for a huge profit.
    then the media took over and made it 10x worse.

    Classic pump and dump.

    - - - Updated - - -

    Quote Originally Posted by Sorensen View Post
    Poor people could use rich brokers too they just historically have not as shown by this recent event and so many people being in RH.
    Poor people also don't use banks, they use check cashing services and are afraid of banks.

    The fact we still to this day do not teach much economics, financial and investing in k-12 is fucking downright ridiculous.
    Buh Byeeeeeeeeeeee !!

  5. #945
    Brewmaster Sorensen's Avatar
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    Quote Originally Posted by Zaktar View Post
    Maybe the person who said this on Sunday:



    Should stop fooling themselves about their expertise on this subject.
    Well they are basically the same thing. Stock market investment really shouldn't be done with money you wouldn't mind losing, so yoloing a few shares of a stock is no biggie.
    Driving on Sunshine.

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  6. #946
    Quote Originally Posted by gondrin View Post
    Well, I believe the lesson of the day is don't gamble in the first place unless you know what you are doing. Actual investing is long term and is not gambling, this does not include that.

    1. Only bet what you are willing to lose.
    2. Set an upper and lower limit on when to get out(regardless of gains/losses).
    3. Don't follow any hype trains.

    if you want to gamble with your money, go to an actual casino where you have more control of winning some money(this excludes slot machines). At least there if you get screwed, you can look the person in the eye who is doing it to you.
    That's the nutty part of it all. The general leading the charge made it very clear to cash out gains and play with what's left.
    As of yesterday he cashed out 13 million.
    But all over WSB was everyone screaming hold and buy more with stupid catch phrases and meme icons.

    Still today 60-70% of all post are people telling others to hold or buy more!

    - - - Updated - - -

    Quote Originally Posted by Sorensen View Post
    Well they are basically the same thing. Stock market investment really shouldn't be done with money you wouldn't mind losing, so yoloing a few shares of a stock is no biggie.
    man 600-700 bucks would finish paying off my car loan or pay most of my rent.

    Yolo!!!

    Should have just gone and put on black at least then you had a 50/50 chance of doubling your money without the wait.
    Buh Byeeeeeeeeeeee !!

  7. #947
    Brewmaster Sorensen's Avatar
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    Quote Originally Posted by Zan15 View Post
    That's the nutty part of it all. The general leading the charge made it very clear to cash out gains and play with what's left.
    As of yesterday he cashed out 13 million.
    But all over WSB was everyone screaming hold and buy more with stupid catch phrases and meme icons.

    Still today 60-70% of all post are people telling others to hold or buy more!

    - - - Updated - - -



    man 600-700 bucks would finish paying off my car loan or pay most of my rent.

    Yolo!!!

    Should have just gone and put on black at least then you had a 50/50 chance of doubling your money without the wait.
    But that's no fun it's like 10 sec all or nothing with roulette. Roulette is like $10 max kinda bets. Make enough to go to the caesars buffet and a marshmellow concert etc kinda money.
    Driving on Sunshine.

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  8. #948
    Quote Originally Posted by Rasulis View Post
    There are a lot of cliche sayings in investment. However, they are cliches because they have mostly stood the test of time.

    My favorites which apply to this story is “the fundamentals don’t matter on short-term trades” as in day trades and “the fundamentals don’t matter until they do.” The GME stock manipulation went on too long and the fundamentals caught up to it. The fundamentals will always catch up sooner or later.

    Talking about a company with good fundamentals and for a break from GME. After years of hoarding cash, to the tune of $196 billion, Apple has sold $14 billion in bonds to take advantage of cheap borrowing cost. Likely for buyback and dividends, working capital, acquisition and repayment of more expensive debt. They had $58 billion offers btw.

    Apple can borrow at a rate of 1.86% for about nine years, according to Bloomberg Barclays index data. That’s lower than the 1.94% when Apple was last in the market in August. The move comes as the company is looking to trim its net cash position, by returning more cash to shareholders. According to Bloomberg Intelligence, the tech giant may need to increase its annual shareholder returns to over $100 billion to attain its net-cash neutral target over the coming years.

    Meanwhile, TipRank’s hedge fund trading activity tool shows that short position in Apple has been fluctuating between 800 to 900 million shares since June 2020. So around 5% of Apple’s 16.4 billion floating shares.
    HEY HEY Ras did you see this??? i know you love oil, could you imagine this??

    I am shocked they didn't do it. With energy loving administration support and regulatory control of merger approval under the same group i could imagine it would have happened with some divestitures (damn I actually spelled that word right, woot).

    Its all but dead now and i doubt it could ever get approved for the next 4 years.



    https://www.wsj.com/articles/exxon-c...er-11612126203

    Exxon, Chevron CEOs Discussed Merger
    Exxon’s Darren Woods, Chevron’s Mike Wirth spoke last year about combining their companies in what could be among the largest corporate mergers ever.

    A combined company’s market value could top $350 billion. Exxon has a market value of $190 billion, while Chevron’s is $164 billion. Together, they would likely form the world’s second largest oil company by market capitalization and production, producing about 7 million barrels of oil and gas a day, based on pre-pandemic levels, second only in both measures to Saudi Aramco.

    - - - Updated - - -

    Quote Originally Posted by Sorensen View Post
    But that's no fun it's like 10 sec all or nothing with roulette. Roulette is like $10 max kinda bets. Make enough to go to the caesars buffet and a marshmellow concert etc kinda money.
    nah go to a real casino you can get higher tables on just about any game.

    Sometimes you just want a quicky and not all the sticky!
    Buh Byeeeeeeeeeeee !!

  9. #949
    Brewmaster Sorensen's Avatar
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    Quote Originally Posted by Zan15 View Post
    HEY HEY Ras did you see this??? i know you love oil, could you imagine this??

    I am shocked they didn't do it. With energy loving administration support and regulatory control of merger approval under the same group i could imagine it would have happened with some divestitures (damn I actually spelled that word right, woot).

    Its all but dead now and i doubt it could ever get approved for the next 4 years.



    https://www.wsj.com/articles/exxon-c...er-11612126203

    Exxon, Chevron CEOs Discussed Merger
    Exxon’s Darren Woods, Chevron’s Mike Wirth spoke last year about combining their companies in what could be among the largest corporate mergers ever.

    A combined company’s market value could top $350 billion. Exxon has a market value of $190 billion, while Chevron’s is $164 billion. Together, they would likely form the world’s second largest oil company by market capitalization and production, producing about 7 million barrels of oil and gas a day, based on pre-pandemic levels, second only in both measures to Saudi Aramco.
    But oil is a dead commodity.
    Driving on Sunshine.

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  10. #950
    Quote Originally Posted by Sorensen View Post
    But oil is a dead commodity.
    yah eventually it will be coal, but its still got a long long time to go. Still a lot of money to be made maybe not in stock
    Buh Byeeeeeeeeeeee !!

  11. #951
    Brewmaster Sorensen's Avatar
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    Quote Originally Posted by Zan15 View Post
    yah eventually it will be coal, but its still got a long long time to go. Still a lot of money to be made maybe not in stock
    Speaking of I need to close my position in philips 66. I just don't like the stock.
    Driving on Sunshine.

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  12. #952
    The death kneel on GME will be when this dude cashes out

    https://www.reddit.com/user/DeepFuckingValue/

    He's already went from peak 47.9 --> 35m ---> estimated 20 ish if he made no moves .

    Then again he's got 13m in cash from his previous Un-DiAmOnDhAnds.
    Buh Byeeeeeeeeeeee !!

  13. #953
    Brewmaster Sorensen's Avatar
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    Quote Originally Posted by Zan15 View Post
    The death kneel on GME will be when this dude cashes out

    https://www.reddit.com/user/DeepFuckingValue/

    He's already went from peak 47.9 --> 35m ---> estimated 20 ish if he made no moves .

    Then again he's got 13m in cash from his previous Un-DiAmOnDhAnds.
    He's waiting for the squeeze to be squoze
    Driving on Sunshine.

    PM for Tesla referral code.

  14. #954
    Quote Originally Posted by Sorensen View Post
    Speaking of I need to close my position in philips 66. I just don't like the stock.
    Didn't they just report really bad earnings?

    With the failure of covid vaccine rollouts i don't see much good news for refiners anytime soon.
    Especially with new strains and large part of this country and world refusing to get the vaccine cause....umm....they are fucking crazy assholes.
    Buh Byeeeeeeeeeeee !!

  15. #955
    Brewmaster Sorensen's Avatar
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    Quote Originally Posted by Zan15 View Post
    Didn't they just report really bad earnings?

    With the failure of covid vaccine rollouts i don't see much good news for refiners anytime soon.
    Especially with new strains and large part of this country and world refusing to get the vaccine cause....umm....they are fucking crazy assholes.
    Exactly why I need to close my position in any oil stocks. Not good long investments.
    Driving on Sunshine.

    PM for Tesla referral code.

  16. #956
    I just bought up AMC 2/5 puts last night and watched the plummet after hours.

    That and I bought up dogecoin and cashed out while it was >0.05

    Can make money on the up and downswing when people do silly things like this.

    The sad part is that despite every call being a really good one and returning 100-200%, I didn't have a lot of cash on hand to spare in the moment so it was only a few hundred dollars profit.

  17. #957
    Quote Originally Posted by Sorensen View Post
    Well they are basically the same thing. Stock market investment really shouldn't be done with money you wouldn't mind losing, so yoloing a few shares of a stock is no biggie.
    Funny you weren't hedging your advice on Sunday, and that "it's a gamble" doesn't change the fact that it was dumb fucking advice. To borrow from your roulette theory: "I'm betting heavy on 13 Monday and so should you." Except the wheel in question doesn't even have a 13 on it.
    Last edited by Zaktar; 2021-02-02 at 08:54 PM.

  18. #958
    Quote Originally Posted by Zaktar View Post
    Funny you weren't hedging your advice on Sunday, and the that "it's a gamble" doesn't change the fact that it was dumb fucking advice. To borrow from your roulette theory: "I'm betting heavy on 13 Monday and so should you." Except the wheel in question doesn't even have a 13 on it.
    It's all for the memes, and we shall rewrite history for the sake of the memes and the glorious WSB narrative that's so compelling and continues to largely be detached from actual reality.

    Meme-culture is the fuckin worst.

  19. #959
    Quote Originally Posted by Edge- View Post
    It's all for the memes, and we shall rewrite history for the sake of the memes and the glorious WSB narrative that's so compelling and continues to largely be detached from actual reality.

    Meme-culture is the fuckin worst.
    The key is to profit off their ignorance and poor decisions. If people want to toss money out the window, you may as well be the one to pick it up.
    Quote Originally Posted by Knadra View Post
    Multiculturalism hurts and kills. This happened before Trump and it would be happening without him. Racism arises from a multicultural society. If we were monocultural, people would not see issues through the lens of race.
    This is a poster saying that people are at fault for being the victims of terrorism, because they are not white.
    Quote Originally Posted by Wilfire View Post
    I hate personal freedom because people abuse it like a shiny new toy.

  20. #960
    Quote Originally Posted by Machismo View Post
    The key is to profit off their ignorance and poor decisions. If people want to toss money out the window, you may as well be the one to pick it up.
    I had half a mind to join the early buying and sell on TO THE MOON DIAMONDHANDS FRIDAY. Seriously. And I have enough stashed away that I could have snapped up quite a few shares and earned a tidy profit.

    But I generally strongly dislike gambling as a whole, so didn't bother with it. I've got an IRA account for retirement that I put a bit into each month, that's about as much involvement with the stock market as I can realistically tolerate. I'm too conservative and chickenshit to risk my money on the roulette wheel.

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