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Lol @ the Wall Street hedge funds asking for a taxpayer-funded bailout now that they lost money on that GameStop fiasco.

What's that phrase y'all are always telling us about how the problem with socialism is that eventually you run out of other people's money? Why don't you, uh, pull yourself up by your bootstraps? You made a bet and you lost. That's called capitalism.
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UsernameAlreadyInUse · 26-30, M Best Comment
For decade those unscrupulous hedge fund manager manipulate the market throwing their weight around swindle countless of invester life saving with just a snap of finger,now is time to let them taste of their own medicine.
jackj · 56-60, M
Who in their right mind would give their entire life savings with a hedge fund? [@1066674,ShaolinMasterOfIronCrotch]

BlueMetalChick · 26-30, F
[@843795,AnonymouslyYours] What a bunch of pricks.
meJess · F
It's in the name Game...Stop.
QuixoticSoul · 36-40, M
Who is asking?
QuixoticSoul · 36-40, M
[@6579,BlueMetalChick] Can you link? I’m not seeing it tbh. WSJ has several articles in the topic, but nobody is talking about a taxpayer bailout.
Northwest · M
[@580625,QuixoticSoul] [quote]Can you link? I’m not seeing it tbh. WSJ has several articles in the topic, but nobody is talking about a taxpayer bailout.[/quote]

I believe this is a stale screwup from last April, being recycled as today's news.

Last April, at least one small hedge fund, possibly a couple, managed to get small business loans under the bailout, as rules had not been tight. The rules were tightened.

I have not seen any WSJ demands that we cover hedge fund losses. Melvin Capital, the primary party, has been down 30% this year, and the CEO's former employer, Cohen Capital, swooped in to cover losses (so far). Melvin had been returning an average of 30% since its inception in 2014.

Yes, losses are part of life when you're in the shorting business. Traditionally they're like Casinos. At the end of the day the House always wins, while allowing some individuals to make some money.

Market "automated crowd sourcing", may be the game changer that's going to force hedge funds to find a new gig. They're no longer playing against a handful of day traders, working independently. They're working against swarms of day traders, working through "blocks". So, Melvin's moves to short GameStop, Bed Bath & Beyond and others, are instantly countered via automated trades from the "day traders block".

I'm personally thrilled this is happening, as it may create a closer to fair investment space. Imagine that Bank of America had put a cap of $10 per share for GameStop. It was trading today at $370.
QuixoticSoul · 36-40, M
[@9416,Northwest] After this little storm ends in a dump everyone knows is coming, I wouldn’t be surprised to see gme settle down to $10-$20 tbh. That company is in massive trouble, and a couple of new board members isn’t going to change that.
tenente · 90-99, M
right? like, c'mon dude 🙄 read the room!
tenente · 90-99, M
guys please stop!!!! 🙄 my dad is a hedge fund manager and he just locked himself in the bathroom with a Phoebe Bridgers album 😱
Ferric67 · M
Fuck them
They got what they deserve
They've been shorting the retail investor for decades, stealing their money

No pity, no sympathy
QuixoticSoul · 36-40, M
[@570658,Ferric67] People are strangely emotional about shorting, but it’s just another bet on performance.
Ferric67 · M
[@580625,QuixoticSoul] I'm emotional over it because I've invested in a strong company that continually gets attacked by shorts due to some convertible bonds the company had given them
QuixoticSoul · 36-40, M
[@570658,Ferric67] If the company is actually doing well, that will have no impact on anything, and people shorting will lose anyhow.
NoahB · 26-30, M
we should at least cut them a $600 check lol
DangerDingus · 31-35, M
Been fucked by redditors me thinks.
QuixoticSoul · 36-40, M
[@428650,DangerDingus] Nah, it was a bad bet from the technical point of view, quite likely institutionals would have squeezed them even if WSB didn’t make it a meme.

I mean, blackrock owns 9 million gme shares all by itself.
DangerDingus · 31-35, M
[@580625,QuixoticSoul] think I watched something about this too.
jackj · 56-60, M
MagnifiqueGirl · 22-25
I don’t understand this situation to be hoesnt
MagnifiqueGirl · 22-25
Sad part is that at the end some average joes will lose money aswell
jackj · 56-60, M
As soon as the market opens. Don’t waste a second. [@9288,MagnifiqueGirl]
MagnifiqueGirl · 22-25
[@1158,jackj] 9:30 am right ?
jackj · 56-60, M
You were right. Did you do it? I hope so and even if it keeps going up realize you secured a nice profit and ended all risk. [@9288,MagnifiqueGirl]

 
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