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Stock Thread (25 Viewers)

stbugs said:
My suggestion? I bailed on both a while ago. The reinvested money did well but I had so little LK ($400) and I didn’t care about LLNW so I consolidated to other stuff.
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Do you think Disney being such a big player in the streaming game makes LLNW still valuable?  I've been struggling with deciding to move on, but that thought keeps entering my brain.

 
pecorino said:
Seems like $16 or $17 is the ceiling today (though it could break $20 by the time I type the next sentence). I'm setting a stop/loss order to lock in profit, assuming it doesn't completely leapfrog the order, which it could.
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I went ahead and bought another 400 shares at $15.75, could have bought lower I guess.  Put 200 to sell at $20. 

It's times like this I wish I was into options.

 
Redwes25 said:
I would hope they are diversified investors.

I would also add that it is not a swindle if they invested in a hedge fund. A hedge fund for a pension fund should be part of the mix. 
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Yeah, I really disagree with this after seeing it first-hand. Paying 2 and 20 for this stuff is a complete joke.

 
Alternative Investments

@Fundie_trader

Nokia today announced it has achieved a major network capacity milestone with its long-standing partner Elisa while preparing the operator’s network for the future. $NOK
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Nokia News that was surely scheduled to come out prior to the runup.  

 
Chaz McNulty said:
This could get really ugly if it manifests in the Reddit Community discovering how to Short.  They could decide that they don't like a companies business practices (for whatever reason), and drive the stock down to pennies.
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People thinking retail investors and the people of that community are so dumb they don't even know how to short is part of the reason this is happening in the first place.

 
culdeus said:
I'm trying to walk through a world where the sell volume is so large as everyone is jumping off that the short closers are looking for a way to get out, or not because they are colluding.  The voices in my head are confused.  I think I get where you are, but this requires WSB to keep coming back in with buy orders.  In my mind I'm seeing them all move off in unison more or less, or at worst hodl
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Testing the limits of the old cliche, "the market can stay irrational longer than you can stay solvent."

 
I'm not in GME or AMC

But I'm holding my BB, NOK, and PLTR.  At least for today.  If one were to go up to 100% or someting, I'll sell half

 
KGB said:
I'm not in GME or AMC

But I'm holding my BB, NOK, and PLTR.  At least for today.  If one were to go up to 100% or someting, I'll sell half
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Bought AMC after hours yesterday, just a taste to follow along.  As it's more than doubled I just sold my initial amount and will free roll the rest.  

Wish I had been willing to take on more risk with stuff like this.....

 
General Malaise said:
Guys.....

Not ALL hedge funds are created equally.  Not ALL hedge funds are taking in pension money and shorting the markets.  That's not how this works.  

Pensions don't dole out money to hedge funds without extensive due diligence.  They move at a glacial pace and are not looking for high risk funds; their singular goal is capital preservation first and foremost with income and growth targets that are pegged to lower risk benchmarks.  

NOT ALL pensions, but the bulk of them are incredibly hard to get a check from for hedge fund managers.  Don't believe me?  Go ahead, start a fund and ask for money.  I assure you it ain't easy and spoiled hedge fund brats aren't getting funded by pensions just because they were born on 3rd base and think they hit a triple. 

Endowments, pensions, municipalities, etc use consultants to source their hedge fund managers.  Those consultants are generally allergic to risk.  Why?  BECAUSE IF THEY RECOMMEND A HEDGE FUND MANAGER AND IT BLOWS UP, THAT'S THE END OF THEIR CAREER.  

Next, hedge fund managers get paid when they do well.  They get paid not only to be right but to be right RIGHT AWAY.  Unless you're a fund manager with billions in AUM and can live on the 1% management fee (which goes to pay salaries and utilities and audits and accounting and legal, just to name a few).  20% performance fees are the reward for positive performance but if you're down one year, you gotta make that before you can charge a performance fee again.  Sounds easy, right?  Yeah, go try it.  I beg you to try it.  Your prime brokerage relationship will start at 100K per year.  You'll need 10 million right off the bat just to stay solvent your first couple of years and raising money absent a track record?  GLLLLLLLLLLLLLLLLLLLLLLLLL.......

I think it's easy to sit back and criticize hedge funds as this evil empire of lucky sperm clubbers who aren't really working for a living.  That's some of them.  That ain't the bulk of them and again, if you think it's so easy, you do it.  Go ahead.  See how easy it is to get pension money under management.  I've been at this 20 years now and can count on one hook-hand how many pensions have given a firm I'm at money to run.  For us and the most hedge funds, we represent high net worth (HNW), family offices or niche investors who are looking for diversification and an edge.  These folks are about as loyal as your hot HS girlfriend, so it ain't exactly sticky money.  You best perform or you'll be looking for another job in a hurry.  Nothing like that sort of pressure to go to bed with every night.  

Sorry, but the 'get a real job' take is particularly offensive to me and while I understand the disdain and anger some might have over hedge funds in general, I suggest doing a deeper dive into their existence and how they work before castigating the entire lot as spoiled, entitled, lazy, greedy, unethical scoundrels who are lacking scruples.  

/Rant  
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Bravo.  Do lawyers and real estate agents next.

 
caustic said:
A reporter asked about Gamestop at the WH press briefing -- Psaki says they are "monitoring the situation." I really hope this means Yellen is reading WSB.
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Translation - Our friends and select Senators are monitoring their accounts going up nicely.

 
Leeroy Jenkins said:
Right, but how/why?
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I don’t really know the why other than they could? And they wanted to? 
 

The how can maybe be better explained by others but the hedge funds were over exposed on shorts and redditers took control and bought up GameStop. 

 
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pecorino said:
Seems like $16 or $17 is the ceiling today (though it could break $20 by the time I type the next sentence). I'm setting a stop/loss order to lock in profit, assuming it doesn't completely leapfrog the order, which it could.
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Is it the expectation that AMC will run big overnight?  Seems to be the pattern but I could be looking at this wrong.

 
Al Czervik said:
Do you think Disney being such a big player in the streaming game makes LLNW still valuable?  I've been struggling with deciding to move on, but that thought keeps entering my brain.
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I bought LLNW on a whim and just didn’t feel like holding when their last earnings report was meh. It’s gone up since then but so has just about everything else so not a big deal. After selling, I kind of forgot about it so I couldn’t really tell you what’s going on with them now. There’s way too many stocks to keep track of things you don’t own!

 
caustic said:
A reporter asked about Gamestop at the WH press briefing -- Psaki says they are "monitoring the situation." I really hope this means Yellen is reading WSB.
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what else can they say about it :shrug:

surely they are always paying attention to big market news which this is.

-QG

 
Leeroy Jenkins said:
Can someone explain what is going on in laymen's terms?
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The big hedge funds figured GameStop was going to go bankrupt, so they shorted the stock when it was like $8, figuring it'd go down in a year.

Some idiot on Reddit a year ago said "new consoles are coming out next year, and gaming is a huge industry and GameStop is the only physical brick-and-mortar player in the space" and I believe in that so much, I'm buying $53,000 worth of options a year out that it'll be at least $12 and maybe $18 by next year.

GameStop did pretty well in the year in between. They hired a new CEO, the guy who ran Chewy, which is one of only a few major companies out there that is beating Amazon in their retail space. The Chewy Guy is arguing GameStop can improve their online business too.

Then it was discovered that one hedge fund in particular was super-short on GameStop. There were 130%+ more shorts than longs... and all those shorts were going to have to buy GameStop stock by Jan 29th to make good on their contracts.

So reddit figured "if these guys have a contractual obligation to buy stock by Jan 29, and they need more stock than is actually available, and if we hold a bunch of stocks until they capitulate and pay whatever asking price we want for the stock, we can take this $20 stock and sell it to them at $200, $500, $1000 a share when Jan 29th comes and they have to buy from us."

When this word got out, it caused a bunch of people to start buying, making it even more expensive for the shorts to stay short. Now everyone is buying hoping that by Jan 29 they can force whatever price they want out of the shorts.

/WSB basically said "We're a bunch of idiot chimps flinging our poo around, but right now, we all just happen to be flinging it in the same direction"

 
Market Foolery with a few minutes on GME today, too. Jim Gillies is entertained. And doesn't care too much for Andrew Left.

 
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