Re:Where do we go from here and who is going to step up to h...
by pixelatedindex on Thursday January 28, 2021 @03:27AM
(#25939540)
What r/wsb is doing is fundamentally no different than hedge funds. Wall Street constantly makes trades that move the market, and nobody bats an eye.
Now when it's some self deprecating band of screaming mad lads beat hedge fund managers at their own game, suddenly it's foul play and the free market must be regulated. Doubly so if they are loud and make stupidly idiotic trades that go against the grain of any financial wisdom passed out in the past century and win out big time - how dare they?!
PS: They haven't sold their positions, and I'm sure by the time they expire some of them will definitely have won big time.
PPS: I also like to think of the man or woman who had some shares sitting in the account that they got from working for Gamestop a couple of decades ago, thinking it was worthless now. Until some dumbasses on the internet went and skyrocketed their net worth for no apparent reason other than for shits and giggles.
Now when it's some self deprecating band of screaming mad lads beat hedge fund managers at their own game, suddenly it's foul play and the free market must be regulated. Doubly so if they are loud and make stupidly idiotic trades that go against the grain of any financial wisdom passed out in the past century and win out big time - how dare they?!
PS: They haven't sold their positions, and I'm sure by the time they expire some of them will definitely have won big time.
PPS: I also like to think of the man or woman who had some shares sitting in the account that they got from working for Gamestop a couple of decades ago, thinking it was worthless now. Until some dumbasses on the internet went and skyrocketed their net worth for no apparent reason other than for shits and giggles.