So I’m down like $150 on my $500 purchase of LMFA. Is the consensus that I take the loss and sell at this point, or is there still a moon chance?
Have you done your due diligence and analyzed the books… I mean conducted a survey of rockets for LMFA on WSB?
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Listened to that all in podcast and yeah. Dude wants to eliminate capital gains tax lol.
So it turns out that I did not, in fact, learn A LOT about this from Bill Simmons. Basically,
- Shorting stock is like the dick who bets the don’t pass line at the craps table, so it’s bad culture. (LOL, he originally said the don’t pass line at the poker table.)
- This is what his friend Malcolm Gladwell would refer to as a “Tipping Point”
- The idea of a financial transactions tax is like when baseball managers started switching relievers with every batter, and Major League Baseball had to make a new rule about relievers facing a minimum number of batters.
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Also not an expert but I listened to a podcast who said they do provide some value in regards to balance, but nowhere near what they extract. These guys extract hundreds of billions out of the market every year that could instead go towards actually funding and pushing up businesses creating lots more economic prosperity.
They fill out the ranks of the forbes top 400 and their only societal benefit is maybe they provide some balance.
Obviously the whole thing is stupid and these companies should be owned by the workers.
Yeah Robinhood fucking up 100% allowed these companies to buy out a ton at lower prices and stay afloat. If it wasn’t for that they would have 100% been cleaned out.
Hot take: short sellers are good and valuable to facilitate a healthy market. They take a ton of risk. Lots of the same people complaining about short sellers also complain the fed is somehow “propping up” the market, or something.
It seems like a huge chunk of millennials are vaguely aware that the whole damn game has been rigged against them from the start, but have no idea where to direct their anger. This is largely due to the many failures of the Democratic Party.
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You forgot to add that communists shot short sellers at dawn and we don’t want to be capitalists now do we?
I’m gonna sell my LMAOU & LMFA. The only LMAOU post I see on reddit has 0 replies and 0 votes. I no longer think meme-worthiness is the important criterion for WSB getting behind a stock. They either want there to be short-squeeze potential, or they want to believe there’s actually value (eg. they think NOK is a value play).
The bigger problem is that these guys sitting at desks taking bets on short positions don’t seem to be actually providing any real goods or services to anyone. I guess at some level I understand that these financial services are an important and necessary service, but it’s difficult for a regular schlub like me to see how they aren’t just sitting around a casino counting cards.
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In fact they’re extracting wealth that could go towards investing in businesses and filling out a big chunk of the forbes top 400 with it.
But they keep stock prices from going out of control which is probably an important thing for reasons I don’t understand.
Lol. They’ve got a plane flying around NYC now with a banner.
Edit: Further Lol:
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I think this may be less true than previously considered.
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This certainly isn’t an endorsement of LMFA but you aren’t allowed to post about stocks that have MC sub 1B.
I guess I’m an old lol. I had no idea what it meant either.
They don’t either tbqh.
It makes more sense if you realize that the device is a “bill counter.”
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