I salute you, Wallstreetbets

I see quite a few people piling into $GME, largely to ride the gains and sell, pre or post squeeze. It’s a free market, you do you and well done if you do well, sorry if you don’t. But I don’t see much talk about the (what I believe is) Wallstreetbets’ core motive - to fuck these hedge funds, profits or no profits (they are no strangers to loss).

For this I have so much damn respect for the people at wallstreetbets. To be clear, “YOLOing” ones life savings into a speculative stock or anything of the sort isn’t my cup of tea - but, on the other hand, their motives behind this short squeeze I can absolutely get behind.

2008 is very much imprinted in my memory; it changed my life. I also have friends and family whose lives were ruined by the the financial crisis. And there are/were many at fault, (Credit rating agencies, regulators, Banks, etc) but hedge funds played their own part (e.g. buying -sometime’s with ordinary folks’ money- CDOs; the mortgage bundles, leveraged to high-heaven) . The pisstake is that none of these bigwigs/fat cats ever got punished in any meaningful way. Even now, the hedge funds go to great, dirty lengths to cover their own asses (e.g. short ladder attacks, telling the media they’ve covered their shorts when they haven’t, etc)… it infuriates me to no end.

So I salute the ‘degenerates’ at WSB and their ‘diamond hands’. If they pull this off, it’ll be a small taste of justice for all the regular people who lost their homes, jobs, etc in 2008. It is beautiful irony that the same risks they blew up the global economy with are the same risks that could ruin them. I hope it sends wallstreet a very clear message that retail investors are a force to be reckoned with.

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  • soros
  • ackman
  • burry
  • burry again

and

  • roaring kitty, cfa
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I didn’t want to invest at all until the ‘RobinHood’ event. Then I went in for what I was happy to lose because it is seriously shady. I’m the sort of guy that sees protests in the news and thinks “Yeh I support that.” but I’ve never gone and rocked up, have I. This time I’m rocking up for what its worth.

Would like to set a stupid meme limit order though (it sends a message right?) and I haven’t been able to do that yet…!

This is definitely having more impact than things like occupy wallstreet. I similarly applaud the ‘movement’. Although looking at the global markets, the impact is a lot more than I was anticipating…

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The message was good but Wall St. laughed and carried on as usual…

they laughed and helped get trading apps and fintechs to the unicorn status, profitin along the wayyyy

im happy with most fintechs tho

eToro plans for a $5 billion US IPO - FinTech Futures

goldman :+1:

Still in bussiness then…
The fines are nothing more than virtue signalling. And a pittance at that.
Still, the wheels turn…