Reddit Shoots GameStop Stock up 2,752%

[Cassia]

How did this guy not cash out after a couple of Million? From 5M to 360K....dammmit !

[Hydra009]

I'm not sure what those numbers mean, but I'm pretty sure that graph is Not Stonks.

[Cassia]

I'm not sure what those numbers mean, but I'm pretty sure that graph is Not Stonks.

The backstory is he got a 2nd mortgage for $35K, bought lots of Gamestop stock early when it was cheap...watched his 35K go to up 5 Million and instead of selling he held all the way down to 360K. Still could make 10x but he is holding even now.

[Hydra009]

Even I know to sell when the selling is good.  Ideally, pick a threshold and sell whenever it dips down to hit that threshold.

[Blackleaf]

OMG! Sell it, idiot! He's gonna lose it all!

[Hydra009]

Hedge fund billionaire fears the Gamestop frenzy was really about wealth inequality

[Shiranu]

Hedge fund billionaire fears the Gamestop frenzy was really about wealth inequality

Why, whatever gave them that idea?

[Hydra009]

Why, whatever gave them that idea?

In fairness to him, I think he's merely playing dumb.  He goes on to say that he really empathizes with these small-fry investors (cue laugh track), but says that we shouldn't seek to tear each other down (yet the wheel turns, crushing those underneath), and that maybe policy should be reformed (though he suspiciously keeps that part rather vague).

It seems strange that someone who has profited to excess from this system would want it reformed at all.  But if there's one thing those at the top fear more than reform, it's collapse.

[Cassia]

Two years ago (after 15 years of steady investing of 17% of my salary), my portfolio reached a million and a quarter, house/cars paid for and my company was looking to downsize. They offered a package @ $60K just as interest rates for CDs and annuities popped up to over 3.75%. That week I dumped over half my portfolio into insured CDs and annuities such that they pay my bills. Then I quit my job and took the deal much to everybody's surprise. Walked away from an incredible salary and benefits ten years early.

I recall languishing in that padded office as life slipped away. Each day a test of how much bullshit I could tolerate. I did enjoy my career early on and maybe my mistake was accepting promotions. If you love your job, that is great but I was no longer happy in mine. By investing in index funds and staying debt free...at least I had options. I can always go back to work in a lower pressure environment but I have discovered I am pretty good at not doing much, LOL. FOMO and YOLO are not really viable investment plans, but I can certainly understand the motivation.

[drunkenshoe]

Hedge fund billionaire fears the Gamestop frenzy was really about wealth inequality

 

Oh my...these people really know how their society works, don't they?

[drunkenshoe]

Two years ago (after 15 years of steady investing of 17% of my salary), my portfolio reached a million and a quarter, house/cars paid for and my company was looking to downsize. They offered a package @ $60K just as interest rates for CDs and annuities popped up to over 3.75%. That week I dumped over half my portfolio into insured CDs and annuities such that they pay my bills. Then I quit my job and took the deal much to everybody's surprise. Walked away from an incredible salary and benefits ten years early.

I recall languishing in that padded office as life slipped away. Each day a test of how much bullshit I could tolerate. I did enjoy my career early on and maybe my mistake was accepting promotions. If you love your job, that is great but I was no longer happy in mine. By investing in index funds and staying debt free...at least I had options. I can always go back to work in a lower pressure environment but I have discovered I am pretty good at not doing much, LOL. FOMO and YOLO are not really viable investment plans, but I can certainly understand the motivation.

I like how badly adjusted you are. You give me hope.

Mine is a similar spirited, but a very different story. Weren't you harrased a bit? I was.

[Cassia]

I like how badly adjusted you are. You give me hope.

Mine is a similar spirited, but a very different story. Weren't you harrased a bit? I was.

That sucks. Early on, before the company "woke up" so to speak I was a very unaware nerd myself. I was treated OK and had a good mentor. There was big shift in attitudes over the years. I think I could have helped more  as the company became more diversified. I do think being 'outed' as an atheist would have been damaging because many leaders were so open about their church affiliations and activities.

[drunkenshoe]

That sucks. Early on, before the company "woke up" so to speak I was a very unaware nerd myself. I was treated OK and had a good mentor. There was big shift in attitudes over the years. I think I could have helped more  as the company became more diversified. I do think being 'outed' as an atheist would have been damaging because many leaders were so open about their church affiliations and activities.

Oh I see. Sorry to hear all that. I was mobbed by my peers for anything possible. Profs were a problem because they were the old traditional kind of ones...'gods' but it is becuse of the institution in the end and they didn't have a problem with me. Atheism didn't have an effect on them as much as the 'radical' political tendencies and they generally more cared about how the department would look I guess. That's almost 15 years ago...everything's changed. It's completely a different place now. They are all retired. It looks more like an open prison type of an extended high school than a university now. Gawd... it's been 25 years since I've graduated...ooof. It's another century in every sense.

[Cassia]

Oh I see. Sorry to hear all that. I was mobbed by my peers for anything possible. Profs were a problem because they were the old traditional kind of ones...'gods' but it is becuse of the institution in the end and they didn't have a problem with me. Atheism didn't have an effect on them as much as the 'radical' political tendencies and they generally more cared about how the department would look I guess. That's almost 15 years ago...everything's changed. It's completely a different place now. They are all retired. It looks more like an open prison type of an extended high school than a university now. Gawd... it's been 25 years since I've graduated...ooof. It's another century in every sense.

Yes it is! I think that African American women had the worse time around here. Geez I could have been more encouraging. I had Turkish woman named Nurgun as my advisor in college. She was such a helpful professor. I am forever grateful. You only need a few good people helping you to success.