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Forum » How Reddit Brought A Multi-Billion Dollar Hedge Fund To It's Knees
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Thread: How Reddit Brought A Multi-Billion Dollar Hedge Fund To It's Knees

post 1629791423 01-26-2021, 07:27 PM
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#181
  1. low_clazz
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i literally signed into my long forgotten about TDAmeritrade account last Friday and saw that i had about $560 sitting in some worthless pennystock i bought almost a decade ago thinking it was going to make me rich.

I sold those and spent my majority of it on 8 GME shares at $61.29 each. Today, I sold 3 of them to make majority of my money back. The remaining 5 shares will ride the rocket ship. If it busts, it busts. As long as I got my initial investment back, i don't care.

This process has taught me so much about trading. Shiit is exciting as hell. I am spending time learning all i can to start trading on the regular.

20% of my salary is already earmarked for passive investing for retirement. So I'm throwing an additional 5% into trading for sport/fun (or gambling, whatever you want to call it.)
post 1629791623 01-26-2021, 07:29 PM
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#182
  1. lilbloaty
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just bought some amc lol
lilbloaty crew lol
post 1629791663 01-26-2021, 07:30 PM
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#183
  1. Destor
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Originally Posted By mcdojo⏩
Couple of points

Share price has no impact on the actual solvency of a business, so literally cannot drive a company to bankruptcy

Revenue does not equal profit. Gamestop operates as a loss, with no clear sign of this changing. Ecommerce doesnt work well for games since the clear trend is towards digital downloads which are bought directly off the console.

Even Chewy still operates as a loss and could end badly.
There's so little focus on fundamentals right now, the companies may as well just be floating stock prices

Revenue? Costs? Profit? Booooooring
post 1629791683 01-26-2021, 07:30 PM
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#184
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Originally Posted By lilbloaty⏩
just bought some amc lol
same yolo
MinisterOfLust: scooterbrah and Mcfreoko are the two worst posters here.
post 1629792403 01-26-2021, 07:36 PM
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#185
  1. BetaAsPhuck
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Originally Posted By TugOfPeace⏩
Apparently they are being loaned money from Citadel and some other HF?
This rumour from Twitter...


Melvin Capital, to file bankruptcy as soon as next week according to sources.

The bailout they received yesterday from Citadel and Point72 went “poof” today as the GameStop ( $GME ) momentum continued.

The fund was forced to liquidate its Alibaba ( $BABA ) position after hours.


Source:


They also sold Expedia today (their largest long position)




Source:


The following meme is dead, but.... This will be the definition of epic! If r/wallstreetbets takes down a multibillion hedge fund.

It also speaks to the power of decentralized direct action vs following a politician and hoping they change things.
If You Don't Like To Talk About Your Feelings, This Might Help...
https://forum.obnoxiousbrutes.com/showthread.php?t=178926621

The Most Heartbreaking Thing That I've Learned About 'The Elite'.
https://forum.obnoxiousbrutes.com/showthread.php?t=178536851

Bitcoin And 'The Elite' - Why Bitcoin Is Not Revolutionary
https://forum.obnoxiousbrutes.com/showthread.php?t=179820783
post 1629793193 01-26-2021, 07:46 PM
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#186
  1. samsbolton
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Originally Posted By saltypits⏩
No, it's that simple.

As a company, stop borrowing so much. Your business is selling shirts? Why the fuk are you borrowing $1B for?

In any case, it's not the 1970s anymore. Stocks that are unfairly valued low are few and far between and don't stay that way for long.
If you’re a healthy, growing busines, you borrow so you can grow faster. Especially now borrowing is so cheap. EVERYBODY DOES THIS.

Also, goods and services are provided on credit, typically 12 weeks, so you need cash to cover that.

So no, it’s not that simple..
2023 bertie awards 2024 nominations

https://forum.obnoxiousbrutes.com/showthread.php?t=184693083
post 1629793313 01-26-2021, 07:47 PM
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#187
  1. meteoraniac
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Originally Posted By meanstringbean⏩
Just remember the quote, pigs get fat. Hogs get slaughtered


A lot of those rich today from GME are non materialized gains. Long run GME is going to the basement. Odds you time it perfectly (and not get caught in the massive and I mean massive sell off that eventually will happen) is next to nil. Better to sell early than sell late



But congrats on the historic run up
i took my initials plus quite a bit of profit out... u cant time when the squeeze will happen, still have 100 or so shares to ride till valhalla or zero..

if RC does it right, GME will never be sub 10... having said that current prices are insane...
Sloots come and go but moms are forever

Get to know your parents: you never know when they'll be gone for good.
Be nice to your siblings: they're your best link to your past and the people most likely to stick with you in the future.
Enjoy your body: use it every way you can. Don't be afraid of it or of what other people think of it: it's the greatest instrument you'll ever own.
post 1629793393 01-26-2021, 07:48 PM
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#188
  1. BetaAsPhuck
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LMAO!!!

I hope this is real...




If You Don't Like To Talk About Your Feelings, This Might Help...
https://forum.obnoxiousbrutes.com/showthread.php?t=178926621

The Most Heartbreaking Thing That I've Learned About 'The Elite'.
https://forum.obnoxiousbrutes.com/showthread.php?t=178536851

Bitcoin And 'The Elite' - Why Bitcoin Is Not Revolutionary
https://forum.obnoxiousbrutes.com/showthread.php?t=179820783
post 1629793433 01-26-2021, 07:49 PM
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#189
  1. ontclone
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do you guys think they will shutdown wall street bets? i feel like its coming to that lmaooo
GAINS, GAINS, More GAINS
post 1629793483 01-26-2021, 07:49 PM
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#190
  1. moosik85
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Originally Posted By BetaAsPhuck⏩
If GameStop goes up another 17%, this hedge fund will instantly collapse. $13.1 billion gone. Poof.

Elon Musk just tweeted about the stock & they're now trading at $192 after-hours… if they open at this price, Melvin Capital will go bankrupt tomorrow morning. $13.1 billion in wealth transferred from Wall St to Reddit trolls.

What we're witnessing isn't a traditional pump & dump… it is an unorganized, yet collective effort of memelords & avg Americans to completely ignore all market fundamentals &, thru the power of social media, bankrupt hedge funds overnight, taking their funds. Legality unclear.

Reddit is also in the process of meme-ifying AMC stock to revive it from the dead… this is like the Occupy Wall Street movement but on their own turf & with real financial consequences. Incredible.

For any people/journalists trying to understand the $GME situation, read this top post from /r/WallStreetBets. It explains, very well, what is happening & why.



Wall Street hedge funds literally being raided for everything they have by Main Street memers… we're witnessing tens of billions of dollars go from Wall St to Main St daily now.



A reminder to everyone reading that while this is funny & very profitable for some, eventually things will come back down. Gamestop $GME is, objectively, worth nowhere near what they're trading at. Putting money in now is no different than gambling. This isn't investment advice.

/r/WallStreetBets has written an open letter to powers that be
@CNBC
- they threaten to continue to bankrupt every last hedge-fund since Wall Street has screwed over the average American & always gets bailed out. They actually make great points, read:



This list of hedge funds' most-shorted stocks is making its rounds on Reddit's /r/WallStreetBets… many posters are discussing tackling these one-by-one. They are already buying up $AMC which is up 60% after-hours.




Source:
I’m sure the fed can fire up the money printer and give them another 10 trillion. 13 billion isn’t even a blip for them. Now if it becomes a common thing that’s different.
Plant the trees in whose shade your grandchildren will play
post 1629793533 01-26-2021, 07:50 PM
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#191
  1. nn586
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pretty glorious to watch NGL, hope they go bankrupt and I can see them cry on TV


I'd love to be a fly on the wall at Melvin, this chit is hilarious


hope that DFV guy has some beefy cybersecurity, these wall street dudes might be putting out hits soon. this aint play money
post 1629793633 01-26-2021, 07:52 PM
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#192
  1. IronFeta
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Not a bear but


It seems way too late and risky to join the GME train now. Would longer term shorting be guaranteed to turn a profit when GameStop inevitably plummets?
post 1629793683 01-26-2021, 07:53 PM
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#193
  1. BetaAsPhuck
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Originally Posted By ontclone⏩
do you guys think they will shutdown wall street bets? i feel like its coming to that lmaooo
Good point...

If anyone is a member of r/wallstreetbets, I hope they have discussed plans in case that happens?
If You Don't Like To Talk About Your Feelings, This Might Help...
https://forum.obnoxiousbrutes.com/showthread.php?t=178926621

The Most Heartbreaking Thing That I've Learned About 'The Elite'.
https://forum.obnoxiousbrutes.com/showthread.php?t=178536851

Bitcoin And 'The Elite' - Why Bitcoin Is Not Revolutionary
https://forum.obnoxiousbrutes.com/showthread.php?t=179820783
post 1629793873 01-26-2021, 07:57 PM
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#194
  1. scooterbrah
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Originally Posted By BetaAsPhuck⏩
Good point...

If anyone is a member of r/wallstreetbets, I hope they have discussed plans in case that happens?
looks like they have a discordhttps://discord.com/invite/wallstreetbets

one would assume they will eventually have to do like /r/the_donald did and make their own forum
MinisterOfLust: scooterbrah and Mcfreoko are the two worst posters here.
post 1629795443 01-26-2021, 08:21 PM
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#195
  1. solidus2k3
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brutal.... in for more pwnage
<HTC>
post 1629795953 01-26-2021, 08:28 PM
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#196
  1. gixxer0.6g
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Robinhood or Webull?
Toxic Masculinity
post 1629796243 01-26-2021, 08:31 PM
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#197
  1. Ck4288
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Fav meme to come out of this yet.
post 1629796263 01-26-2021, 08:32 PM
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#198
  1. MetroBrah
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Originally Posted By gixxer0.6g⏩
Robinhood or Webull?
Vanguard or TDameritrade. Easy af to just make another account in combination with your existing retirement account











But if you use my link you will get 3 free stocks with Webull with a chance to win a Microsoft!
post 1629796623 01-26-2021, 08:37 PM
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#199
  1. CroForce
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Originally Posted By nn586⏩
pretty glorious to watch NGL, hope they go bankrupt and I can see them cry on TV


I'd love to be a fly on the wall at Melvin, this chit is hilarious


hope that DFV guy has some beefy cybersecurity, these wall street dudes might be putting out hits soon. this aint play money
Why though? Are they actual villains or are people making up stories so they feel better about themselves?

Working in the same industry I have to feel bad and be compassionate with people working at Melvin Capital. Losing your job isn't even the worst part of this.
"For God so loved the world that he gave his one and only Son, that whoever believes in him shall not perish but have eternal life." John 3:16
___________________

RIP Zyzz
post 1629796803 01-26-2021, 08:40 PM
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#200
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Originally Posted By samsbolton⏩
If you’re a healthy, growing busines, you borrow so you can grow faster. Especially now borrowing is so cheap. EVERYBODY DOES THIS.

Also, goods and services are provided on credit, typically 12 weeks, so you need cash to cover that.

So no, it’s not that simple..
You're talking about an operating line of credit.

That's a far cry from LET'S OPEN 15000 LOCATIONS or BIG HQ!! that some companies do.
post 1629796813 01-26-2021, 08:40 PM
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#201
  1. MinisterOfLust
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Sold GME at 12, now it might reach 500 dollars. Just shoot me now.
post 1629796823 01-26-2021, 08:40 PM
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#202
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They are going to make a movie about this someday lol. Weaponized autism. Literally autism.
post 1629796873 01-26-2021, 08:41 PM
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#203
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Originally Posted By CroForce⏩
Why though? Are they actual villains or are people making up stories so they feel better about themselves?

Working in the same industry I have to feel bad and be compassionate with people working at Melvin Capital. Losing your job isn't even the worst part of this.
Yea the hedge fund guys didn’t do nothing to nobody. They are just playing the game like everybody else, just on a larger scale.
post 1629796903 01-26-2021, 08:41 PM
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#204
  1. Ck4288
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I’m rolling. Everyone there is setting limit sells for 69,420.



I feel like this is what would happen if miscers had even half the money and experience they preach on here.
post 1629796973 01-26-2021, 08:43 PM
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#205
  1. ErnieMccracken
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Hedge funds are the absolute scum of the earth. Parasites. lol @ "but what about the hedge fund bros!"
post 1629797113 01-26-2021, 08:44 PM
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#206
  1. MisterDiapers
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Originally Posted By ErnieMccracken⏩
Hedge funds are the absolute scum of the earth. Parasites. lol @ "but what about the hedge fund bros!"
they just buy and sell stocks bro lol...
post 1629797183 01-26-2021, 08:45 PM
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#207
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Originally Posted By MinisterOfLust⏩
Sold GME at 12, now it might reach 500 dollars. Just shoot me now.
what a retard. negged
MinisterOfLust: scooterbrah and Mcfreoko are the two worst posters here.
post 1629797303 01-26-2021, 08:47 PM
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#208
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Originally Posted By climberbrah⏩
honestly, Melvin Capital is dead.

All their investors will be trying to pull their money as a soon as possible.

All their options are in the money and expire this Friday.

The amount of money they lose by then could be staggering.
looks like they are asking for some help


GameStop short-seller down 30% this year gets $2.8 billion bailout from the firms of billionaire investors Steve Cohen and Ken Griffin
MR.PHF '09

“Do you see over yonder, friend Sancho, thirty or forty hulking giants? I intend to do battle with them and slay them.”- Don Quixote

''damn right I like the life I live

'Cause I went from negative to positive

And it's allGood..."


"friends come and go but enemies accumulate"


< H.T.C Till I D.I.E >
"Zero tolerance Crew" ZERO, NADA !!!!
post 1629797333 01-26-2021, 08:47 PM
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#209
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Any brahs smarter than me care to aware me what Melvin was thinking by doubling down on the short with the loaned money?


-30% is no bueno, but -60% and margin seemed like a risky biscuit.
post 1629797363 01-26-2021, 08:48 PM
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#210
  1. ErnieMccracken
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Originally Posted By MisterDiapers⏩
they just buy and sell stocks bro lol...
Don't be a blue pilled moran, brah. They constantly try to rig an already broken market deeper in their favor. They aren't sitting at trade stations buying and selling like a retail investor. Totally separate rules for them.
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