stock market was up today...

[newarkvol]

Mask Off

"It’s a way of attacking wealthy people." Billionaire hedge fund manager rages on CNBC over people using their stimulus to buy stocks



Thomas Peterffy, the billionaire founder, chairman, and the largest shareholder of Interactive Brokers, defends the restriction in trading as a means to ‘protect myself, and most importantly, of course, my customers.’ Just build your own brokerage!




He is at least honest that this is not about the customers, rather it is about keeping the market in a stable and profitable place for themselves.


"There is a time when the operation of the machine becomes so odious, makes you so sick at heart, that you can't take part; you can't even passively take part, and you've got to put your bodies upon the gears and upon the wheels."

 

[hog88]

Mask Off

"It’s a way of attacking wealthy people." Billionaire hedge fund manager rages on CNBC over people using their stimulus to buy stocks



Thomas Peterffy, the billionaire founder, chairman, and the largest shareholder of Interactive Brokers, defends the restriction in trading as a means to ‘protect myself, and most importantly, of course, my customers.’ Just build your own brokerage!




He is at least honest that this is not about the customers, rather it is about keeping the market in a stable and profitable place for themselves.


"There is a time when the operation of the machine becomes so odious, makes you so sick at heart, that you can't take part; you can't even passively take part, and you've got to put your bodies upon the gears and upon the wheels."

Looks like he is also FOS.


Billionaire investor Leon Cooperman says he voted for Joe Biden based on his values, not his pocketbook

 

[Orangeburst]

Biden caught up in another mess already..LOL
Beginningt to he thinks of the middle class guy that voted for him as suckers.

 

[red butler]

Mask Off

"It’s a way of attacking wealthy people." Billionaire hedge fund manager rages on CNBC over people using their stimulus to buy stocks



Thomas Peterffy, the billionaire founder, chairman, and the largest shareholder of Interactive Brokers, defends the restriction in trading as a means to ‘protect myself, and most importantly, of course, my customers.’ Just build your own brokerage!




He is at least honest that this is not about the customers, rather it is about keeping the market in a stable and profitable place for themselves.


"There is a time when the operation of the machine becomes so odious, makes you so sick at heart, that you can't take part; you can't even passively take part, and you've got to put your bodies upon the gears and upon the wheels."

Translation: When the Wall Street elite start losing at Monopoly, they toss the board

 

[StarRaider]

Biden caught up in another mess already..LOL
Beginningt to he thinks of the middle class guy that voted for him as suckers.

 

[NorthDallas40]

Just heard Charles Payne’s take on this. He’s normally heavy on the institutional side and he’s even pissed about the retail buy lockout. It violates the free market ideology.

This is all about the brokers and clearing houses mitigating their loses from shorts whom they already know won’t be able to pay. If the shorter can’t pay like Melvin Capital got caught and declared bankruptcy then the broker is on the hook and they may not be able to get more than the deposited reserves.

F em, they need to eat this loss.

 

[Orangeburst]

Mask Off

"It’s a way of attacking wealthy people." Billionaire hedge fund manager rages on CNBC over people using their stimulus to buy stocks



Thomas Peterffy, the billionaire founder, chairman, and the largest shareholder of Interactive Brokers, defends the restriction in trading as a means to ‘protect myself, and most importantly, of course, my customers.’ Just build your own brokerage!




He is at least honest that this is not about the customers, rather it is about keeping the market in a stable and profitable place for themselves.


"There is a time when the operation of the machine becomes so odious, makes you so sick at heart, that you can't take part; you can't even passively take part, and you've got to put your bodies upon the gears and upon the wheels."

If the mask is off, does that mean only 3 to go?

 

[VolStrom]

Just heard Charles Payne’s take on this. He’s normally heavy on the institutional side and he’s even pissed about the retail buy lockout. It violates the free market ideology.

This is all about the brokers and clearing houses mitigating their loses from shorts whom they already know won’t be able to pay. If the shorter can’t pay like Melvin Capital got caught and declared bankruptcy then the broker is on the hook and they may not be able to get more than the deposited reserves.

F em, they need to eat this loss.

I HATE hedge funds after what one did to the company that I worked 35 years for. If this campaign to destroy them works on Reddit, I'll throw tens of thousands of dollars at each and every one of their campaigns. I'm sure that the rich bastards will throw everything they can at the "little people". At least it looks like one hedge fund got clobbered by the "let them eat cake" crowd.

 

[Orangeburst]

I HATE hedge funds after what one did to the company that I worked 35 years for. If this campaign to destroy them works on Reddit, I'll throw tens of thousands of dollars at each and every one of their campaigns. I'm sure that the rich bastards will throw everything they can at the "little people". At least it looks like one hedge fund got clobbered by the "let them eat cake" crowd.

And we know which side Biden's butt is buttered

Wall Street donors line up behind Biden in massive third-quarter fundraising haul (cnbc.com)

 

[n_huffhines]

Elizabeth Warren and the SEC Should Let the GameStop Lulz Go On

 

[Velo Vol]

Suddenly unfettered capitalism is bad.

 

[C-south]

Suddenly unfettered capitalism is bad.

No it’s fine. When you’re trading stocks and you’re then prohibited from buying or selling for no reason other than to protect the wealthiest....then there’s a problem.

 

[UT_VOLS13]

No it’s fine. When you’re trading stocks and you’re then prohibited from buying or selling for no reason other than to protect the wealthiest....then there’s a problem.

He does not understand! That "tweet" has not come through yet!

 

[SpaceCoastVol]

After reading a little more:
Blackrock owns like 13% of GME shares, Citadel securities manage trades for robinhood so they can offer zero-fee trading, in exchange for getting to see every single trade that goes to them before it completes, allowing them to know when to get in to drive stock prices up and when to get out before it collapses.

It gets worse--Blackrock doesn't even hold the most shares. Much of GameStop's shares are owned by investment firms who hold millions of $GME stock. From this non-exhaustive list, there's about 53.1 million shares owned by large institutions alone. I think there's about 70 million shares issued, with about 47 million shares floating on the market. I don't really know how to square 53.1 million publicly owned vs. 47 million floating, but I think this sufficiently reinforces the point that this may have nothing to do with "the people" as much as it's being done by large corporations.

It may be that large Wall Street institutions have successfully learned how to use the power of social media to drive markets. A dramatic proof of concept for the Citadel/RobinHood partnership (which lets Citadel make money by subtly front-running calls from retail investors). Over time this will be institutionalized, with retail people used as pawns for battles between competing institutions.

The biggest players using the smaller players to squeeze the middle players

yes, in the end blackrock, fidelity, etc are still winning, but at the very least, it's a transfer of wealth to the little man...A rare win for 'us' that also illuminates the hypocrisy of financial institutions
Ownership Summary | Gamestop Corp.

This is actually a little fun to watch. Buncha people gonna lose a buncha money making a point. LOL

 

[UT_VOLS13]

How could anyone support the first week of this admin? Have they put anyone competent in a position yet?

@luthervol

 

[SpaceCoastVol]

GameStop won't be the first company in history to have an undeserving windfall due to stock price. I remember at one point Facebook was valued at close to Exxon level on the stock market with like $4MM earnings per year. At least GameStop provides a valuable service. I mean what kind of person doesn't like video games?

I don't play any video game other than chess. The issue with GME as I understand it is the brick and mortar model. It's a dying idea. Frankly I am surprised that malls haven't been plowed under by the score. Who shops at malls anymore?

 

[Grand Vol]

Elizabeth Warren and the SEC Should Let the GameStop Lulz Go On

It's going to be fun watching the "common working folks" party of equality and anti-big business squirm when they are getting calls from their financial backers to put a stop to this.

 

[hog88]

Suddenly unfettered capitalism is bad.

Per Biden voters and Dem senators it is.

 

[SpaceCoastVol]

Well, that was fast

Lawyers being lawyers

 

[C-south]

It's going to be fun watching the "common working folks" party of equality and anti-big business squirm when they are getting calls from their financial backers to put a stop to this.

They’ll take the “peons” money as long as they don’t make money and when they do they’ll shut them down.

 

[Grand Vol]

Lawyers being lawyers

Almost like they were expecting it...

 

[UT_VOLS13]

White House refuses to address GameStop controversy

 

[evillawyer]

Lawyers being lawyers

Those Benjamins ain't gonna get in my pocket by themselves.

 

[C-south]

Those Benjamins ain't gonna get in my pocket by themselves.

Even if you were a lawyer this would be WAAAYYYYY out of your league.

 

[UT_VOLS13]

Those Benjamins ain't gonna get in my pocket by themselves.

LOL, you are such a FRAUD!!!