Yep, it’s exactly this.
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Haha. Yep. I worked in a compliance group for a few years and it was exactly this. I actually enjoyed the work itself, but I couldn’t take the feeling that every single person not in our department hated us.
Also, it’s really hard to quantify the value you brought to the organization. Like, the business could say we made $xM from selling this or $yM from investing in that. While alls our group could say, “well our company passed our audits and didn’t get any extra scrutiny or fines”.
Yeah this for sure. You’re viewed as an expense rather than a revenue generator, which to be fair, isn’t entirely wrong. BUT, if the department doesn’t exist, all that revenue gets taken away via fines.
Lollllll Chamath. Done flip flopping on this dipshit.
https://twitter.com/chamath/status/1355580731980869637?s=21
Bridgewater has like $150 billion under management.
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Sort of, but in this case the dont-pass bettors lost to a point, and somehow convinced the casino that the other guy sevened out.
And we all know rich people are the only ones who should be allowed to manipulate stock prices!
I’m obviously not the expert itt so take these questions as a real enquiry.
Don’t short sellers provide some good in the market? I’m sure I’ve read or heard examples of short sellers finding real fraud in the market and exposing it. If there are no short sellers would there be other mechanisms to find this kind of fraud/inflated valuations?
The other thing I don’t get it people say short sellers provide a balance to the bubble mentality but if we learned anything this week shorting causes prices to rise, not go down.
I think in general shorting causes a downward pressure, but when shorts get “squeezed” prices can go way up. What happened this week was not a common occurrence though, both because of the extremely high percent of short positions in the stock and the large number of buyers forcing the squeeze intentionally.
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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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