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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 1629942783 01-28-2021, 12:20 PM
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Originally Posted By Dan_S⏩
This is such strange thinking. People keep blaming WSB as if they're the bad guys here, when Melvin took out shorts for 140% of the outstanding shares.

Their entire goal was to drive the company into the ground to pocket the difference in the short.

That's some evil chit. People lost it at Mitt Romney and the corporate raiders of Bain Capital, and this isso much worse. But we get uninformed Wall Street shills saying the retail investors are idiots and are going to hold the bag here. C'mon man...
This is also pretty much the same thing Paul Singer did to sink Cabela's which was a profitable company just so he could make money forcing them to sell to Bass Pro
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post 1629942803 01-28-2021, 12:20 PM
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Originally Posted By Jaydawg08⏩
Now I'm VERY curious if this is the case
It seems like it's only margin traders who are being closed...

https://www.reddit.com/r/wallstreetb...hares/gl4rk9s/
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post 1629943003 01-28-2021, 12:22 PM
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Originally Posted By AltarOfPlagues⏩
they will figure out pretty quickly to stop publicly listing exposed short positions.

if they were really smart they would publicly list a fukked up short position and privately hold a much larger long position, and then openly talk shiit to redditors.

edit - and then astroturf
Don’t they legally have to list what they’re shorting, so then they would get fined by the SEC?

I don’t really know how it all works.
post 1629943013 01-28-2021, 12:23 PM
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Originally Posted By BigBallsMcgee⏩
Gamestop was already dead, theres no future for that company. Nothing wrong with taking advantage and gaining on that. I dont think its evil to short sell
Originally Posted By VoxExMachina⏩
I'm not saying that at all, and have no particular opinion on the "nobility" of it.

Just saying that you don't want to be the one left holding stock when the price tanks. Which it will because GME's fundamentals are not there to support the price. Unfortunately, a lot of these Redditors who are new to the market are going to be caught up in that.
Nope, shorting Gamestop probably is the correct call. Shorting it for 140%, however, is not. That's greed.

And what WSB is doing is a short squeeze and has very little to do with the fundamentals of the company. It's not much different than using the publicly available information about a company to buy their stock, but in this case, you're buying because of the information about other people in the market. The company is irrelevant. All WSB is doing is saying, "hey, this other entity has placed themselves in an untenable financial situation, and I'm going to cash in on it."

How is that being a dumb, misinformed investor?

And with more than 100% of the stock still shorted, the hedge has to buyevery single share.Meaning whatever price it's at, that's what I can sell at today. You can drive the price up to infinity.
post 1629943053 01-28-2021, 12:23 PM
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Originally Posted By MuscleXtreme⏩
Don’t they legally have to list what they’re shorting, so then they would get fined by the SEC?

I don’t really know how it all works.
dude i dont either.
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post 1629943123 01-28-2021, 12:25 PM
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post 1629943133 01-28-2021, 12:25 PM
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Originally Posted By VoxExMachina⏩
I'm not saying that at all, and have no particular opinion on the "nobility" of it.

Just saying that you don't want to be the one left holding stock when the price tanks. Which it will because GME's fundamentals are not there to support the price.Unfortunately, a lot of these Redditors who are new to the market are going to be caught up in that.


When most people can't trust half their families over matters of money, what makes them think they can trust anonymous strangers on a reddit board devoted to... making money!
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post 1629943173 01-28-2021, 12:26 PM
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Originally Posted By Dan_S⏩
Nope, shorting Gamestop probably is the correct call. Shorting it for 140%, however, is not. That's greed.

And what WSB is doing is a short squeeze and has very little to do with the fundamentals of the company. It's not much different than using the publicly available information about a company to buy their stock, but in this case, you're buying because of the information about other people in the market. The company is irrelevant. All WSB is doing is saying, "hey, this other entity has placed themselves in an untenable financial situation, and I'm going to cash in on it."

How is that being a dumb, misinformed investor?

And with more than 100% of the stock still shorted, the hedge has to buyevery single share.Meaning whatever price it's at, that's what I can sell at today. You can drive the price up to infinity.
I mean greed is what drives wallstreet. Of course its greed at the end of the day.

but its not like they are driving poor people out of their homes. they're just betting against a s*it game store. I dont see anything wrong with that.


I dont think the idea of profiting off the short squeeze is dumb, but people are just hopping on blindly without knowing whats going on. People literally asking 'wait hold wtf is going on' as they rush to open accounts to dump money.

thats stupidity
post 1629943223 01-28-2021, 12:26 PM
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Originally Posted By MiscInformed⏩


When most people can't trust half their families over matters of money, what makes them think they can trust anonymous strangers on a reddit board devoted to... making money!
theres a reason the nigerian prince scams work. People are stupid and greedy and will do dumb things at the chance to make a dollar
post 1629943253 01-28-2021, 12:27 PM
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Originally Posted By Dan_S⏩
Nope, shorting Gamestop probably is the correct call. Shorting it for 140%, however, is not. That's greed.

And what WSB is doing is a short squeeze and has very little to do with the fundamentals of the company.
And what happens at the end of a short squeeze? Everyone who bought at any price makes money?

And with more than 100% of the stock still shorted, the hedge has to buyevery single share.Meaning whatever price it's at, that's what I can sell at today. You can drive the price up to infinity.
Is that still the case though? And if the firms holding the shorts declare bankruptcy or make other financial manipulations?
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post 1629943263 01-28-2021, 12:27 PM
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Originally Posted By KingSWRV⏩
Are the boomers smarter than us literally? No

Will we ultimately win this war against them? No

These meme stocks are all short term gains.

Can they do meme stocks as good as us? No.

Do they even need to know all this discord stuff to be rich? No.
Just lol at CNBC, msm, anyone that questions our knowledge and abilities.

I went back to college and got my degree in investment science and portfolio management for my self, not for a job. Yeah I don't have a CFA that teaches me ethics, but a lot of good that will do in this clown world.

Just lol if anyone thinks individual investors don't understand the market and the manipulation of it. Just lol if anyone thinks we don't have the knowledge and ability to make our own decisions and group us all into the naive category. Block us from trading to protect us from ourselves. Lock us into our homes because of a virus 99%+ survive to protect us from ourselves again...

They block us from trading AMC when they just secured funding, how the fuk does that make any sense. I'm buying at a low because I anticipate them re-opening. I'm buying on speculation, just like anyone else does.
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post 1629943353 01-28-2021, 12:28 PM
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Originally Posted By nothingshocking⏩
I'm not on either side.

The stock market exists for large companies to raise funds via capital investment.

Investors choose to invest in these companies based on the present value of risk adjusted forward looking forecasts of these companies.

Everything else is a preversion.

Hedge funds are a perversion
Day Traders are a perversion
Robinhood is a perversion
This is utter nonsense. Look at the share of IPOs issued in recent years compared to turnover on the secondary markets. Large companies can fund their investments via retained earnings and debt. The stock markets at this point exist for share buybacks, M&As, and so funds can make capital gains through short-term trades a d speculation. Going long still happens of course, but at least in the Anglo-countries, it's far less common. The only difference right now is that for a brief moment, the guns are trained in the opposite direction.
post 1629943533 01-28-2021, 12:30 PM
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#1093
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robinhood has spent 7 years on their brand and are/were? expected to have an IPO this year. did they just bodybag themselves?
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post 1629943623 01-28-2021, 12:31 PM
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Originally Posted By VoxExMachina⏩
And what happens at the end of a short squeeze? Everyone who bought at any price makes money?

the price will shoot up rapidly, possibly into the thousands and anyone that sells fast enough profits handsomely.
post 1629943643 01-28-2021, 12:31 PM
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Originally Posted By BigBallsMcgee⏩
I mean greed is what drives wallstreet. Of course its greed at the end of the day.

but its not like they are driving poor people out of their homes. they're just betting against a s*it game store. I dont see anything wrong with that.
Where exactly do you think hedge funds get their money?

It's from investors. Institutional most likely. That means pension funds, etc. Let's not pretend that little people aren't going to be hurt too if a hedge fund goes under. If a big chunk of your life savings or retirement fund is tied up in a hedge fund and the fund goes under, you don't magically get your money back. Every trade has 2 winners and a loser. Don't assume the only losers here are billionaires and millionaires.
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post 1629943713 01-28-2021, 12:32 PM
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The most messed up thing on their part is that we made our recent investment prediction decisions based on a mixed/free market and not on it being tampered with by the administrators with all the halts and suspensions.

If they would do this they should have given notice ahead of time and give people a time frame on the regulations being put in place so they can act accordingly not just drop bombs on peoples money in the morning like that.
post 1629943723 01-28-2021, 12:32 PM
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Originally Posted By AltarOfPlagues⏩
robinhood has spent 7 years on their brand and are/were? expected to have an IPO this year. did they just bodybag themselves?
yes

the brand is absolutely dead
post 1629943803 01-28-2021, 12:33 PM
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Originally Posted By BigBallsMcgee⏩
the price will shoot up rapidly, possibly into the thousands and anyone that sells fast enough profits handsomely.
Correction: anyone who bought low and sells high profits. Just like anything. Buy high and get caught when it crashes and you're done.

You missed the "at any price" part.
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post 1629943863 01-28-2021, 12:33 PM
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Originally Posted By AltarOfPlagues⏩
robinhood has spent 7 years on their brand and are/were? expected to have an IPO this year. did they just bodybag themselves?
I mean it doesn't look great right now. I wish I could be a fly on the wall over there and hear what convos they must be having
post 1629943873 01-28-2021, 12:33 PM
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The phuck.
post 1629943983 01-28-2021, 12:35 PM
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Originally Posted By AltarOfPlagues⏩
dude i dont either.
This is probably what happens... Block individual investors from buying to allow hedge funds to cover their calls. Open the markets back up when they're finished. Act like nothing happened. New regulations are passed. Hedge funds avoiding losing more billions and the individual investors are screwed for the time being and in the future. Lawsuits ensue, hedge funds have the funds and legal team/lobbying/network to fight it all, re-write laws in their favor, profit.
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post 1629943993 01-28-2021, 12:35 PM
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Originally Posted By BigBallsMcgee⏩
I mean greed is what drives wallstreet. Of course its greed at the end of the day.

but its not like they are driving poor people out of their homes. they're just betting against a s*it game store. I dont see anything wrong with that.


I dont think the idea of profiting off the short squeeze is dumb, but people are just hopping on blindly without knowing whats going on. People literally asking 'wait hold wtf is going on' as they rush to open accounts to dump money.

thats stupidity
I feel like you keep missing the part where what they did is illegal. They illegally shorted Gamestop for more than the number of outstanding shares, hoping to drive the company into bankruptcy so they can cash in on every share 1 and a half times.

And this is why feasibly, every single person on WSB can come out of this in the green, because not only does Melvin have to buy every share in existence, they have to do it one and a half times.
post 1629944043 01-28-2021, 12:35 PM
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Originally Posted By VoxExMachina⏩
And what happens at the end of a short squeeze? Everyone who bought at any price makes money?
Is that still the case though? And if the firms holding the shorts declare bankruptcy or make other financial manipulations?
When this is all settled down, I want to own some Gamestop long term. I think they have a future in peddling used retro video games.
post 1629944103 01-28-2021, 12:36 PM
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According to a reddit low-level RH insider, Vladimir (RH co-founder) and the entire C-suite was hunkered down with calls from Sequioa Capital and... the White House.
post 1629944153 01-28-2021, 12:37 PM
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Originally Posted By VoxExMachina⏩
Correction: anyone who bought low and sells high profits. Just like anything. Buy high and get caught when it crashes and you're done.

You missed the "at any price" part.
What is your point in all of this? That because some people buy in late with FOMO and may lose none of it should happen?
post 1629944223 01-28-2021, 12:38 PM
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Originally Posted By Bluku⏩


The phuck.
Might as well stay in at this rate, right? I have no trust in the market, and I have no idea if this will plummet even more. Don't know if I should just take my losses and get out
AP7 crew
post 1629944343 01-28-2021, 12:38 PM
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more and more trading sites are blocking the wallstreetbets stocks (GME, AMC, etc)

get ready tonight

they will announce all buys are blocked to protect you and in the morning only sell will be available. I understand the entire hold and make them pay for what they did, remember the SEC allowed this move of blockage.. the government is not going to protect you.. the government is working against you.
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post 1629944393 01-28-2021, 12:39 PM
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Originally Posted By MiscInformed⏩
Where exactly do you think hedge funds get their money?

It's from investors. Institutional most likely. That means pension funds, etc. Let's not pretend that little people aren't going to be hurt too if a hedge fund goes under. If a big chunk of your life savings or retirement fund is tied up in a hedge fund and the fund goes under, you don't magically get your money back. Every trade has 2 winners and a loser. Don't assume the only losers here are billionaires and millionaires.
I'd like to know who the 7 clients of Melvin Capital are...

"Melvin Capital Management is based out of New York. Melvin Capital Management is a hedge fund with 7 clients and discretionary assets under management"

https://whalewisdom.com/filer/melvin...-management-lp



Also after the above stating that Melvin Capital is based in New York...

"Indeed, New York City’s largest public pension plan this month said it was exiting all hedge fund investments. It was “the latest sign that the $4 trillion public pension sector is losing patience with these often secretive portfolios at a time of poor performance and high fees,” according to a recent report from Reuters.

“The board of the New York City Employees Retirement System voted to leave blue chip firms such as Brevan Howard and D.E. Shaw after their consultants said they can reach their targeted investment returns with less risky funds,” according to Reuters.

“Hedges have underperformed, costing us millions,” said a New York pension official. “Let them sell their summer homes and jets, and return those fees to investors.”"


https://www.zamansky.com/hedge-funds...401k-accounts/

So at least we know that the largest Pension Fund in New York is not a client of Melvin Capital.



Also, to repeat what I said earlier... Wheres is the concern for the people affected when Hedge Funds like Melvin Capital drive company stocks to zero through short selling?
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Bitcoin And 'The Elite' - Why Bitcoin Is Not Revolutionary
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post 1629944493 01-28-2021, 12:41 PM
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Originally Posted By Amp30⏩
Might as well stay in at this rate, right? I have no trust in the market, and I have no idea if this will plummet even more. Don't know if I should just take my losses and get out
Each to their own risk tolerance, but I will be riding it into the depths.
post 1629944563 01-28-2021, 12:41 PM
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#1110
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My post in the trading thread.
Originally Posted By luckyboy23⏩
I put in 10k in BB yesteday. Was up 4k now I'm down 2k overall... Honestly no sweat but I feel bad for those who made investments they couldn't afford.

What's going on right now is complete bull****, although I will admit I've had a bunch of laughs today at the expense of others.. Stocktwits live feed at 6:30am was absolutely hilarious... I was howling with laughter at the twitter post to robinhood "I will burn you to the ground".

I'm holding. DGAF. IF there's a class action law suit, I'm in. This is blatant rule breaking and cheating... Dare I say just like the election? But that's another topic.

This is yet another eye opening event for America and ROW. Take a look around. They all tell you to behave, behave, behave, yet the people up top do nothing but lie, cheat, and steal.

I KNEW there would be tears today. I called it and that's not to say I told you so, but yesterday just had that fools gold allure. I'm guilty because I jumped in on it. I ignored BTC @ 33 bucks 10+ years ago. I ignored gamestop recently at $5, $17, $50, $130 and beyond.

Take this as a valuable lesson guys. You can't be mad.
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