[Samurai]

Originally Posted by avira_tk

I don't get your opposition to MSNBC, are they pushing alternative facts according to you?

No, they were having very different opinion about gamestop incident, probably because their corporate interests align with that of wall street. Having a different and opposing opinion is not alternative facts.

Originally Posted by avira_tk

The capitol hill protestors didn't do anything resembling an insurrection, they stood around, took selfies and were let in by the security.

These are alternative facts.

[McLaren Rulez]

Originally Posted by avira_tk

The capitol hill protestors didn't do anything resembling an insurrection, they stood around, took selfies and were let in by the security.

You do know they killed a police officer by hitting him with a fire extinguisher and injured several more, don't you?

[amol4184]

Did anyone move their accounts out of RH to somewhere else? Apparently move is taking 6-7 days to Fidelity. Fortunately, I read somewhere that account move fees are refunded by Fidelity -fingers crossed.

It is such a shame that after using RH for 3 years and so, falling in love with it, took about 5 minutes for me to move out.

I say shame because Fidelity the other broker has a lousy mobile app compared to RH. EVERYTHING is slow and old school. Even refreshing balances takes a few minutes and reminds me of ICICI Direct mobile app which is on another level absolute pain-to-use UI. I only bought a few equities and I would say the UI experience is about 30% of what RH offered. I haven't even touched options. I shudder at the thought of playing with calls and puts on Fidelity. Alas, all good things come to an end and not going back to RH again.

[Samurai]

A comedian explains how redditors did nothing different than wall street thugs.

https://www.youtube.com/watch?v=rrgvwYKG4AU

[AZT]

Originally Posted by McLaren Rulez

You do know they killed a police officer by hitting him with a fire extinguisher and injured several more, don't you?

They had also set up a Noose and there was someone arrested with explosives in his car. The Q Anon crowd called it the 'The Great Awakening' where according to plan they would storm the building and the military would come support them and purge all Democrat and republican senators who called Trump out for baseless claims. This was a lot more sinister than most people realize and blind sheep followed through with it actually expecting to overthrow the govt.

This reminds me of a good article I'd read - The Sorry Saga of Ashli Babbitt Shot in the Capitol

“Nothing will stop us....they can try and try and try but the storm is here and it is descending upon DC in less than 24 hours....dark to light!” Babbitt tweeted the day before she died.
In another tweet, she called for Vice President Pence to resign and to be prosecuted for treason, presumably for not being supportive enough of Trump’s calls to overturn the election.
In the days before the shooting, Babbitt retweeted a number of messages from demonstrators headed to D.C. for the protests on Wednesday. One read: “It will be 1776 all over again.... only bigger and better.”

[GutsyGibbon]

Originally Posted by Samurai

Having a different and opposing opinion is not alternative facts.
These are alternative facts.

The damage done by proponents of alternative facts will be felt around the world for a long time. I feel really bad for Burma. At the same time GOP called the election a steal, the military leaders used some of the exact same arguments, and pulled off a successful coup.
https://www.msnbc.com/opinion/myanma...stify-n1256401

[Samurai]

Wall street demands regulations.... to restrain the small investors.

https://www.youtube.com/watch?v=t95Hxz6xioQ

[ashokrajagopal]

While I understand the general sentiments for observers for the investors, I really am wondering why this continues to stay on as a David Vs Goliath story.

From how I look at it, the David vs Goliath was only applicable for the short squeeze week, where 150% of the float was shorted.

Once this got into options territory, and it came into a gamma squeeze, I don't think these retail investors have that much role.
From my understanding, after the initial short squeeze, it was high frequency traders playing the option buyers with complex derivatives.

Certainly the likes of Elon and Chamath cheered them on, but I doubt if those guys did not really know that the individual retail traders are going to lose out.

In my personal opinion, I would not want a market in which shorting is taboo. If not for shorting, be prepared for a lot more inflation in the stock markets world over.

Or may be that's what Elon Musk wants

[download2live]

Originally Posted by whitewing

+1 to that, looking forward to that Smartcat !
Its almost unreal that a big hedge fund is getting hit by a bunch of folks from a subreddit !

Just to provide some closure on this.
Melvin capital is shutting down.

Relevant thread from Reddit.

A win for Retail investors? Can't say. Hedge fund world is a murky one. Who knows the guy in suit might have made his millions anyways. Maybe he wanted to shut down this fund because of bad name it got?

Relevant text from Reddit:
"Melvin Capital, the hedge fund run by Gabe Plotkin that struggled with heavy losses last year as it reeled from wrong-way bets on GameStop, is shutting down, according to a letter sent to investors on Wednesday that was reviewed by The New York Times. Mr. Plotkin wrote to his investors that he had decided that the “appropriate next step” was to liquidate the fund’s assets and return cash to all investors. Mr. Plotkin, who founded Melvin in 2014, also wrote that he recognized he needed to “step away from managing external capital.”

Mr. Plotkin, a protégé of the hedge fund billionaire and New York Mets owner Steven A. Cohen, had wagered that shares GameStop, AMC Entertainment and other mall mainstays from the 1990s would fall as their businesses shrank. Instead, the stocks skyrocketed when amateur investors, coordinating via Reddit, Twitter and other social media sites and determined to outsmart big Wall Street funds, kept buying up shares and propping up their price. That caused Melvin, which had $8 billion in assets under management in January 2021, to lose billions of dollars as it scrambled to cover its so-called short positions. It was propped up by a $2.75 billion bailout from the hedge funds Point72, run by Mr. Cohen, and Citadel, as well as fresh capital from new investors. Before deciding to shutter his fund, Mr. Plotkin had considered reconstituting it. The decision to close Melvin, which Mr. Plotkin named after his late grandfather, is a blow to Mr. Plotkin’s reputation. He had gained fame as one of the most successful portfolio managers to emerge from Mr. Cohen’s former hedge fund, SAC Capital."