FreeBaGeL
Footballguy
With what broker?
I'm on centerpoint and I've been in and out of short positions like a dozen times this week.
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Stock Thread (29 Viewers)
- Thread starter St. Louis Bob
- Start date
With what broker?
I'm on centerpoint and I've been in and out of short positions like a dozen times this week.
fruity pebbles
Footballguy
I swear people never learn
Capella
Footballguy
People on Wall Street bets got their rent money on the line. I truly don’t understand it. Gambling addiction.
2Squirrels1Nut
Footballguy
You've been in and out of AMC, GME and BBBY? I can short but not those. No shares to borrow which of course is the right of the shareholder. I'm with TD Ameritrade.
FreeBaGeL
Footballguy
Yes, all of them. On Centerpoint w/ Clear Street. It's a brokerage specifically for trading.
2Squirrels1Nut
Footballguy
Thank you, I'll look into it. Kind of hurts to read though. Lol
Penguin
Footballguy
Didn't have time to read the last few weeks posts but does anyone have an opinion on Geo Group Inc $GEO?
I saw one hedge fund manager Micheal Berry dumped every one of his holdings except for that Prison system REIT. From what I've been researching I have mixed feelings. I'm trying to figure out his angle.
Only thing I can think of is he believes that after the run up to close to all time highs in the next 2-3 months that many are predicting and the ultimate crash late 2022/early 2023 mixed in with inflation that the crime rate will jump significantly but I still don't fully understand how that correlates to prison system real estate becoming more valuable. It's not like they will be new prisons immediately, if anything I'd think there would be a lot of early releases on minor offenses to make room for more violent criminals.
The stock was at a high of $33 5 years ago and tumbled to $5.57 18 months ago, it's since rebounded to $8.32 as of today.
Shares of Geo Group (NYSE:GEO) are at the center of attention after Michael Burry’s Scion Asset Management reported the company as its only second-quarter 13F holding, selling off all other stocks. Today is the deadline for institutional investors to file their Q2 13F, which provides retail investors with a snapshot of stocks institutions own as of June 30.
During the quarter, Burry dumped his stakes in 12 companies, including Google (NASDAQ:GOOG, NASDAQ:GOOGL), Booking (NASDAQ:BKNG) and Bristol-Myers Squibb (NYSE:BMY). His entire GEO stock stake of 501,630 shares was bought during the second quarter, worth about $3.3 million at the end of Q2. Meanwhile, Scion holds stocks in its 13F portfolio for an average of six quarters.
Geo operates as a real estate investment trust, or REIT, that specializes in prison properties and is the world’s second-largest private “prison company.” Let’s get into the details.
Linkage
Geo is active in three continents and operates more than 100 private prisons and mental health facilities. However, the U.S. is the company’s largest market and provides about 90% of its revenue. In addition, Geo’s revenue has shrunk at a compound annual growth rate (CAGR) of about 2% from 2018 to 2021.
During Q2, the company reported revenue of $588.2 million, up 4% year-over-year (YOY) from $565.4 million. Furthermore, earnings per share (EPS) tallied in at 69 cents, beating the consensus forecast of 58 cents by about 19%. In the past four quarters, Geo has beaten EPS estimates every time.
Executive Chairman George Zoley added:
Burry’s significant sales during Q2 echoes his bearish stance. At the end of Q1, Scion had $165 million worth of 13F assets under management, compared with about $3.3 million as of the end of Q2.
In a since-deleted tweet, Burry tweeted last Sunday, “Can’t shake that silly pre-Enron, pre-9/11, pre-WorldCom feeling.” These three events contributed to a 75% decline in the Nasdaq between 2000 and 2002.
Finally, Burry may hold other stocks in his portfolio, as the 13F does not require disclosure of foreign stocks or short positions.
ETA: This may all be BS, he had 166 million in holdings as of 1Q 2022 and only has 3 million of Geo Group, so 163 million in assets were sold off.
I saw one hedge fund manager Micheal Berry dumped every one of his holdings except for that Prison system REIT. From what I've been researching I have mixed feelings. I'm trying to figure out his angle.
Only thing I can think of is he believes that after the run up to close to all time highs in the next 2-3 months that many are predicting and the ultimate crash late 2022/early 2023 mixed in with inflation that the crime rate will jump significantly but I still don't fully understand how that correlates to prison system real estate becoming more valuable. It's not like they will be new prisons immediately, if anything I'd think there would be a lot of early releases on minor offenses to make room for more violent criminals.
The stock was at a high of $33 5 years ago and tumbled to $5.57 18 months ago, it's since rebounded to $8.32 as of today.
Shares of Geo Group (NYSE:GEO) are at the center of attention after Michael Burry’s Scion Asset Management reported the company as its only second-quarter 13F holding, selling off all other stocks. Today is the deadline for institutional investors to file their Q2 13F, which provides retail investors with a snapshot of stocks institutions own as of June 30.
During the quarter, Burry dumped his stakes in 12 companies, including Google (NASDAQ:GOOG, NASDAQ:GOOGL), Booking (NASDAQ:BKNG) and Bristol-Myers Squibb (NYSE:BMY). His entire GEO stock stake of 501,630 shares was bought during the second quarter, worth about $3.3 million at the end of Q2. Meanwhile, Scion holds stocks in its 13F portfolio for an average of six quarters.
Geo operates as a real estate investment trust, or REIT, that specializes in prison properties and is the world’s second-largest private “prison company.” Let’s get into the details.
Linkage
Michael Burry Bets Big on GEO Stock
Geo is active in three continents and operates more than 100 private prisons and mental health facilities. However, the U.S. is the company’s largest market and provides about 90% of its revenue. In addition, Geo’s revenue has shrunk at a compound annual growth rate (CAGR) of about 2% from 2018 to 2021.
During Q2, the company reported revenue of $588.2 million, up 4% year-over-year (YOY) from $565.4 million. Furthermore, earnings per share (EPS) tallied in at 69 cents, beating the consensus forecast of 58 cents by about 19%. In the past four quarters, Geo has beaten EPS estimates every time.
Executive Chairman George Zoley added:
Burry’s significant sales during Q2 echoes his bearish stance. At the end of Q1, Scion had $165 million worth of 13F assets under management, compared with about $3.3 million as of the end of Q2.
In a since-deleted tweet, Burry tweeted last Sunday, “Can’t shake that silly pre-Enron, pre-9/11, pre-WorldCom feeling.” These three events contributed to a 75% decline in the Nasdaq between 2000 and 2002.
Finally, Burry may hold other stocks in his portfolio, as the 13F does not require disclosure of foreign stocks or short positions.
ETA: This may all be BS, he had 166 million in holdings as of 1Q 2022 and only has 3 million of Geo Group, so 163 million in assets were sold off.
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KGB
Footballguy
nice post
2Squirrels1Nut
Footballguy
Freeman’s initial stake cost about $25mn, which he said was mostly raised from friends and family.
Must be nice.
2Squirrels1Nut
Footballguy
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Capella
Footballguy
Heartwarming storyFreeman’s initial stake cost about $25mn, which he said was mostly raised from friends and family.
Must be nice.
2Squirrels1Nut
Footballguy
Heartwarming storyFreeman’s initial stake cost about $25mn, which he said was mostly raised from friends and family.
Must be nice.
I couldn't raise that much money to gamble on a stock if every person I've ever been friends with gave me their entire net worth.
2Squirrels1Nut
Footballguy
Sold at $35.10
2Squirrels1Nut
Footballguy
Oil was just shy of $90 when I sold. I watched for ten minutes and it wasn't breaking through. My gut said to wait but my mind said to take the profit. Oil now just short of $92. I should have listened to my big fat gut.
General Malaise
Footballguy
Pure evil. How did that go on so long without any oversight? I really hate our country some times. This should be a huge story and these guys need to be put away for life. How many other corrupt judges are doing this?
Other interesting excerpts:Heartwarming storyFreeman’s initial stake cost about $25mn, which he said was mostly raised from friends and family.
Must be nice.
"After selling the shares, Freeman went for dinner with his parents in the suburb of New York City where they live and on Wednesday he flew to Los Angeles to return to campus, he said." Classes commenced at the end of July so he just popped off to NYC for a few days in the middle of school. Edit: Granted he did just make a million dollars
"He has invested for years with his uncle, Dr Scott Freeman, a former pharmaceutical executive. The two recently built an activist stake in a publicly traded pharmaceutical company called Mind Medicine. Freeman also said he had interned for years at a New Jersey hedge fund, Volaris Capital. Just before his 17th birthday, Freeman and its founder, Vivek Kapoor, a former Credit Suisse executive, published a paper titled “Irreducible Risks of Hedging a Bond with a Default Swap”." Volaris is a multi-billion dollar hedge fund and this kid was authoring papers with the founder at 16 years of age.
Kid is obviously a bit of financial wunderkind but you can truly see the advantages the 1% have over the rest of us.
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Bossman
Footballguy
Your opinion;
Bear rally ... or start of a new Bull market?
I've got some ammo ready to get back in but I've been waiting for the next shoe to drop.
and Waiting, and waiting. Then wait some more.
Now with gas prices starting to come down, inflation seems to have leveled off. Seems the worst is behind us.
I hate trying to time the market ... but I hate missing out even more.
Bear rally ... or start of a new Bull market?
I've got some ammo ready to get back in but I've been waiting for the next shoe to drop.
and Waiting, and waiting. Then wait some more.
Now with gas prices starting to come down, inflation seems to have leveled off. Seems the worst is behind us.
I hate trying to time the market ... but I hate missing out even more.
Desert_Power
Footballguy
Time in the market > timing the market
SFBayDuck
Footballguy
So Ryan Cohen just pumped and dumped BBBY, right? Let the apes on reddit foam on at the mouth about short squeezes and giving it to the man while driving up the price, then he sells every single share at the top and walks away while they're all left holding the bag.....except for that U$C kid, of course.
Capella
Footballguy
Of course.
2Squirrels1Nut
Footballguy
GoBirds
Footballguy
About to tax loss harvest on some grayscale crypto and was wondering are there any other funds you guys like for crypto exposure? Added some BITO when I took my hit on bitcoin and about to take my hit on ETHE, anything out there with exposure beyond bitcoin you all are in?
2Squirrels1Nut
Footballguy
Buy low, sell lower!
Ridgeback
Footballguy
Of course, dude gets away with it too. I just don't understand the people who can hold his jock when he's just as much of a swindler as the rest.
2Squirrels1Nut
Footballguy
SFBayDuck
Footballguy
Elon is the same way....he can tweet a picture of a dog and dogecoin or shiba inu
.
Capella
Footballguy
maybe next time will be different
1%? Dude, you are talking 0.01%. Top 1% income in the US is $600k, which actually seems higher than I thought. Anyway, $600k income per year (before taxes) doesn’t get you friends and family floating a college kid $25M to make a risky investment. Thinking about $25M in free cash not tied up in companies, real estate and other investments that friends and family could risk losing and you’re probably in the billionaire club of overall wealth.Other interesting excerpts:Heartwarming storyFreeman’s initial stake cost about $25mn, which he said was mostly raised from friends and family.
Must be nice.
"After selling the shares, Freeman went for dinner with his parents in the suburb of New York City where they live and on Wednesday he flew to Los Angeles to return to campus, he said." Classes commenced at the end of July so he just popped off to NYC for a few days in the middle of school. Edit: Granted he did just make a million dollars
"He has invested for years with his uncle, Dr Scott Freeman, a former pharmaceutical executive. The two recently built an activist stake in a publicly traded pharmaceutical company called Mind Medicine. Freeman also said he had interned for years at a New Jersey hedge fund, Volaris Capital. Just before his 17th birthday, Freeman and its founder, Vivek Kapoor, a former Credit Suisse executive, published a paper titled “Irreducible Risks of Hedging a Bond with a Default Swap”." Volaris is a multi-billion dollar hedge fund and this kid was authoring papers with the founder at 16 years of age.
Kid is obviously a bit of financial wunderkind but you can truly see the advantages the 1% have over the rest of us.
I don’t feel bad at all. I mean if you invest like that it’s your own fault. Oh, but it’s a community, blah blah. These AMC folks actually think the CEO gives two ****s about them. It’s like Taylor Swift fans that actually think they are friends because they bought a t-shirt and I don’t even mean to besmirch Taylor.I just can’t feel bad for people who invest for a short squeeze when all you have to do is read one article about how BBBY’s earnings were truly atrocious and that they’ll likely be out of business soon.
I’m a terrible timer so I just avoid these stocks like the plague because I’d buy the day before the horrible announcement.
Here’s a fun fact, the idiots who jumped in for the mooning of BBBY and bought that 20 year olds $135M in shares have already lost $85M. People look at the big stories but retail investors just handed over $85M to the 0.01%. That’s makes me chuckle. Ryan Cohen also made a nice chunk of change.
ChiefD
Footballguy
I am down on ETHE as well, but it’s been on a slow rising trajectory for the last two months. Not sure what you got in on cost wise but might be worth being patient for just a little longer.
2Squirrels1Nut
Footballguy
I get your point, believe me, but that doesn't make taking advantage of the ignorant okay IMO.
I just can’t feel bad for people who invest for a short squeeze when all you have to do is read one article about how BBBY’s earnings were truly atrocious and that they’ll likely be out of business soon.
I’m a terrible timer so I just avoid these stocks like the plague because I’d buy the day before the horrible announcement.
Here’s a fun fact, the idiots who jumped in for the mooning of BBBY and bought that 20 year olds $135M in shares have already lost $85M. People look at the big stories but retail investors just handed over $85M to the 0.01%. That’s makes me chuckle. Ryan Cohen also made a nice chunk of change.
I understand that point as well. It’s basically the lottery. If you don’t really understand why and how a stock moves you are likely not the one who made it move and this are way more likely to be handing your money to someone else. Random people who shouldn’t play the lottery do win sometimes but by and large you’re throwing money away (which is fine for people who only play the big ones for entertainment).I get your point, believe me, but that doesn't make taking advantage of the ignorant okay IMO.
I just can’t feel bad for people who invest for a short squeeze when all you have to do is read one article about how BBBY’s earnings were truly atrocious and that they’ll likely be out of business soon.
I’m a terrible timer so I just avoid these stocks like the plague because I’d buy the day before the horrible announcement.
Here’s a fun fact, the idiots who jumped in for the mooning of BBBY and bought that 20 year olds $135M in shares have already lost $85M. People look at the big stories but retail investors just handed over $85M to the 0.01%. That’s makes me chuckle. Ryan Cohen also made a nice chunk of change.
Maybe I just really hate the stuff that’s spewed out like COVID conspiracy propaganda, but I still don’t feel sorry for people who won’t listen to reason and would rather follow a conspiracy.
2Squirrels1Nut
Footballguy
I understand and agree completely GB.I understand that point as well. It’s basically the lottery. If you don’t really understand why and how a stock moves you are likely not the one who made it move and this are way more likely to be handing your money to someone else. Random people who shouldn’t play the lottery do win sometimes but by and large you’re throwing money away (which is fine for people who only play the big ones for entertainment).I get your point, believe me, but that doesn't make taking advantage of the ignorant okay IMO.
I just can’t feel bad for people who invest for a short squeeze when all you have to do is read one article about how BBBY’s earnings were truly atrocious and that they’ll likely be out of business soon.
I’m a terrible timer so I just avoid these stocks like the plague because I’d buy the day before the horrible announcement.
Here’s a fun fact, the idiots who jumped in for the mooning of BBBY and bought that 20 year olds $135M in shares have already lost $85M. People look at the big stories but retail investors just handed over $85M to the 0.01%. That’s makes me chuckle. Ryan Cohen also made a nice chunk of change.
Maybe I just really hate the stuff that’s spewed out like COVID conspiracy propaganda, but I still don’t feel sorry for people who won’t listen to reason and would rather follow a conspiracy.
Came back to edit my post that the actions of Cohen, to me, is similar to that of televangelists bilking the elderly out of their money. They don't force them to send money, not illegal, but certainly not right.
Desert_Power
Footballguy
Another great transfer of wealth from regular folks to a billionaire.
Bossman
Footballguy
When you think about Cohen and that kid that made bazillion trillion..
Consider that money didn't just appear from nowhere... it didn't come from the company that owns the stock.
That was hard earned money of the 99.9%, people like us, ... trying to claw for a few pennies. Many many people had to get their clocks cleaned for these people to profit like that.
Consider that money didn't just appear from nowhere... it didn't come from the company that owns the stock.
That was hard earned money of the 99.9%, people like us, ... trying to claw for a few pennies. Many many people had to get their clocks cleaned for these people to profit like that.
Sunshine6854
Footballguy
This is an excellent point. Not sure if/should anything be done. But a lot of that money he cashed in did come from working class investors who are now left bag holding.
I just can’t feel bad for people who invest for a short squeeze when all you have to do is read one article about how BBBY’s earnings were truly atrocious and that they’ll likely be out of business soon.
I’m a terrible timer so I just avoid these stocks like the plague because I’d buy the day before the horrible announcement.
Here’s a fun fact, the idiots who jumped in for the mooning of BBBY and bought that 20 year olds $135M in shares have already lost $85M. People look at the big stories but retail investors just handed over $85M to the 0.01%. That’s makes me chuckle. Ryan Cohen also made a nice chunk of change.
McBokonon
Footballguy
I’m not sure what it looked like last night, but they’re straight up delusional this morning. “Cohen selling is a good thing!” Or “he’s putting all of his profits into the company!”
From this article, you literally get that retail investors jumped in and made Ryan Cohen and that billionaire baby’s family and friends more rich. Most wealth transfers take a little more than a couple weeks and are obfuscated but damn this might be the best blatant example we’ll ever see of poor to rich wealth transfer. The best part is that there are still Cohen fan boys and that “college kid” is a retail hero even though he may be the only college student who could raise $25M+ in order to invest in a dying company. Other Richie Riches but how many would get that much for a meme investment?
His RC Ventures paid $121.2 million between mid-January and early March to acquire 7.78 million shares and options to purchase another 1.67 million shares, a regulatory filing shows. He unloaded all of them this week for a combined $189.3 million, according to a filing on Thursday after the US market close.
A torrent of cash from retail traders pumped up Bed Bath & Beyond’s shares in recent weeks, even with the company’s financial situation deteriorating. They bought $58.2 million of the stock on Wednesday, a day after snapping up a record $73.2 million. Net purchases over three weeks totaled $229.1 million, according to data compiled by Vanda Research.
Lol at the old greatest wealth transfer of all time finally being exposed and shown that Robinhood is in fact stealing from the poor. Heck, Roaring Kitty worked as a broker, you can’t make this **** up. At least with the lottery people are only losing $20 at a time.
See my post above. Yahoo basically shows how for Cohen he was handed $68M this week. Amazing.This is an excellent point. Not sure if/should anything be done. But a lot of that money he cashed in did come from working class investors who are now left bag holding.
I just can’t feel bad for people who invest for a short squeeze when all you have to do is read one article about how BBBY’s earnings were truly atrocious and that they’ll likely be out of business soon.
I’m a terrible timer so I just avoid these stocks like the plague because I’d buy the day before the horrible announcement.
Here’s a fun fact, the idiots who jumped in for the mooning of BBBY and bought that 20 year olds $135M in shares have already lost $85M. People look at the big stories but retail investors just handed over $85M to the 0.01%. That’s makes me chuckle. Ryan Cohen also made a nice chunk of change.
Capella
Footballguy
Don’t have time to keep up this morning. What is robinhood’s involvement in this?
I feel a little bad that I am laughing at regular folks but JFC, how do you get that delusional that you believe in a stock because you read a random internet tweet or post? I mean it’s one thing to get a tip and invest but to be so damn invested that you protect it like it’s your baby?
Honest question, what were these delusional people doing before COVID, WSB and Robinhood made them retail investors? Where was there money going? I mean has the hard seltzer market, celebrity infatuation, drug trade and/or gambling markets dropped off hugely? These reactions remind me of addiction level behavior.
I’m actually talking about the legend not the company. So funny how one of the most famous/iconic characters is now not the first thing you think of with his name. Robinhood the dude who stole from the rich to give to the poor.
2Squirrels1Nut
Footballguy
Great post and exactly why I think it's horrible.
