GameStop

[big fat yorkshire pudding]

It’s a glorified Ponzi scheme. The hedge fund excuse is rubbish. They target shorted stocks so the price rises are amplified due to buy backs.

Absolutely, how long until we hear sob stories from someone?

[Glyn_Wigley]

It reminds me of the Lloyd's insurance crash. Happy to cream cash out of the system for years but claimed they were victims when it all went tits up.

[idler]

Exactly. A few names were squealing after years of making money without thinking about the risk.

[BillyStubbsTears]

It’s a glorified Ponzi scheme. The hedge fund excuse is rubbish. They target shorted stocks so the price rises are amplified due to buy backs.

That was my take on it. I suspect some of the Reddit gang who started this off have made themselves spectacular profits while playing the "little man Vs the Establishment" card. But like I say, those profits will be made out of the pockets of the suckers who have bought at the top of the market, not from the hedge funds.

If that's the case, they should have the book thrown at them. Looks like classic market rigging.

[tyke1962]

The Reddit army are know buying silver

Currently trading at $30 an oz , highest since 2013 .

[Superspy]

Some are saying that the silver push, along with several others, is a smokescreen to get people away from GameStop. I don't know enough to know whether that's true or not but there's quite a bit of discussion about it.

[Filo]

Anyone jumping on this bandwaggon without fully understanding what they are doing deserves to lose their money

[Superspy]

Rule number 1 of investing...only do it with money you can afford to lose. The concern with anything that hype's up like this is that there will be a lot of people NOT heeding that warning.

[big fat yorkshire pudding]

Rule number 1 of investing...only do it with money you can afford to lose. The concern with anything that hype's up like this is that there will be a lot of people NOT heeding that warning.

Ish. I'd more say that fits your risk appetite.

[tyke1962]

It’s a glorified Ponzi scheme. The hedge fund excuse is rubbish. They target shorted stocks so the price rises are amplified due to buy backs.

That was my take on it. I suspect some of the Reddit gang who started this off have made themselves spectacular profits while playing the "little man Vs the Establishment" card. But like I say, those profits will be made out of the pockets of the suckers who have bought at the top of the market, not from the hedge funds.

If that's the case, they should have the book thrown at them. Looks like classic market rigging.

Isn't a good majority of this industry rigged Billy , seems to me the tears from the big players are more about the fact they've been outed and spotlighted by a bunch of amateurs who've had the audacity to pull together and punch them on the nose as I'm sure their losses will soon be recovered .

Only the big boys are allowed to rig the game perhaps .

Shouldn't this sector be more about productive investment rather than speculation and isn't this story a metaphor for where the world is today ? .

Who eventually wins and who loses what isn't the real story in my opinion .

These are the kind of collective uprisings if you will that should be encouraged , if nothing is challenged then nowt changes and nowt was ever achieved or won without personal loss , strike action comes with nothing in your pay packet at the end of the month after all .

Sitting on ones ass and complaining about the world is as much use as tyts on a fish .

The man on the street doesn't have the ear of the politician or the wealth that buys influence all he has is collectivism which when acted upon is the more powerful weapon of all , history tells us so .

It's the collectivism that's hurt these people the most Billy in my opinion and not necessarily their big fat pockets .

[Superspy]

Rule number 1 of investing...only do it with money you can afford to lose. The concern with anything that hype's up like this is that there will be a lot of people NOT heeding that warning.

Ish. I'd more say that fits your risk appetite.

Well yeah, but I mean it in the literal sense...don't invest money you need to feed your family, etc. I've got a pretty adventurous attitude to risk, and I've got some money in GameStop at this point and other super volatile things like Cryptos, but I'm not going to do something that puts my children's future at risk.

[idler]

It’s a glorified Ponzi scheme. The hedge fund excuse is rubbish. They target shorted stocks so the price rises are amplified due to buy backs.

That was my take on it. I suspect some of the Reddit gang who started this off have made themselves spectacular profits while playing the "little man Vs the Establishment" card. But like I say, those profits will be made out of the pockets of the suckers who have bought at the top of the market, not from the hedge funds.

If that's the case, they should have the book thrown at them. Looks like classic market rigging.

Isn't a good majority of this industry rigged Billy , seems to me the tears from the big players are more about the fact they've been outed and spotlighted by a bunch of amateurs who've had the audacity to pull together and punch them on the nose as I'm sure their losses will soon be recovered .

Only the big boys are allowed to rig the game perhaps .

Shouldn't this sector be more about productive investment rather than speculation and isn't this story a metaphor for where the world is today ? .

Who eventually wins and who loses what isn't the real story in my opinion .

These are the kind of collective uprisings if you will that should be encouraged , if nothing is challenged then nowt changes and nowt was ever achieved or won without personal loss , strike action comes with nothing in your pay packet at the end of the month after all .

Sitting on ones ass and complaining about the world is as much use as tyts on a fish .

The man on the street doesn't have the ear of the politician or the wealth that buys influence all he has is collectivism which when acted upon is the more powerful weapon of all , history tells us so .

It's the collectivism that's hurt these people the most Billy in my opinion and not necessarily their big fat pockets .

You have obviously never met a mermaid.Daryl Hannah?

[River Don]

There's one thing, at least if you invest in silver the value is never going to go to nothing.

There is an argument that silver is undervalued, as these days it's a metal that is more than just a store of wealth. It's a rare earth metal that is increasingly used in components too.  However the precious metals markets are distorted because a lot of it only really exists on paper.

[tyke1962]

Decent article from the beeb .


https://www.bbc.co.uk/news/business-55889331

[BillyStubbsTears]

I see the bubble has exploded.

Gamestop price last a week last Monday was $70. By last Thursday it was $470. Today it is $90.

There will be a lot of ordinary people have lost a lot of money if they bought in at the peak. And a lot of the orgnaisers will have skanked them for a fortune if they sold at the peak. This stinks to high heaven.

[big fat yorkshire pudding]

And just like that (though not related to GameStop)...

https://www.bbc.co.uk/news/world-us-canada-55990461

Is it the responsibility of the provider to educate the user or the user to understand what they are getting in to?  Quite a difficult one to answer.