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- Thread starter rocketman
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sparcboxbuck
What happened to my ¤cash?
If the instrument is really a short position, there is no expiration hence my comment above about big money having time to ride this out because they have the cash on the back end for fundamentals to take over. If the position is based on puts or the sale of call options then there is an expiration (strike date) in play.
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ORD_Buckeye
Wrong glass, Sir.
Yeah, the latter is what I believe they held and then bought more and more of at the legal threshold for margins the moment the stock started going up. Unfortunately, they have the money and quantitative skills to probably just keep doubling down until the pumped up stock implodes, and they recoup or at least minimize their losses. Barring that, I'm sure we'll all be bailing them out in the near future.
This whole thing, however, should lay bare the myth that Wall Street in its current iteration has anything to do with marshaling and aggregating capital to build business and grow the economy in any way. It's all a casino now. A casino where the players get to take their winnings off the table before the wheel stops spinning as well as one insulated by FDIC deposits from any financial responsibility for its mistakes, misdeeds and even crimes.
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OHSportsFan
Fan of Ohio Sports in Indy
I don’t know why I didn’t jump on some of the casino/sportsbook stocks back in March. I’m in that space a lot as a user. Of course they were going to bounce back when sports returned/casinos opened.
I try to avoid even looking now. Pain.
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OHSportsFan
Fan of Ohio Sports in Indy
Not sure how much my parents will leave behind someday, but I’m very thankful my dad put a little money in the S&P 500 15-20+ years ago for myself and my sister. Set it and forget it, indeed.When my kids ask me why I won't let them put their money into hedge fund-like investments.
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Mt understanding is though, that even at $60 -$70 those positions became prohibitively expensive. Obviously there are other ways to stop the bleeding but some people were saying that the 2.9 billion infusion from Cohen, Citadel etc was the minimum Melvin needed to exit their position.. (These are vague memories from skimming yesterday and there are some reports contradicting what the numbers are, my larger point here is, this is real $ even in hedgeland. Gamestop was the 12th most shorted stock in a 70 billion dollar market... If its sucked up 4 billion to close out those positions - that we know about... There are unhappy people)
Looks like Robinhood just had to raise another billion and the bloodbath is back on.
https://www.cnbc.com/2021/01/28/rob...rities-friday-gamestop-jumps-after-hours.html
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This was brought up before
One year doesn't seem very long. I mean sure she put a down payment on the pool so they could start work as soon as the ground thaws, but it will be months before she flies everyone in to dedicate it.
One year doesn't seem very long. I mean sure she put a down payment on the pool so they could start work as soon as the ground thaws, but it will be months before she flies everyone in to dedicate it.
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ORD_Buckeye
Wrong glass, Sir.
In Marxist dialectics, this could be argued as a revolution that's seizing the means of production. The means of production in the US are no longer factories or farms. They're Wall Street and rigged financial instruments.
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BuckBackHome
Wolverine is largest member of weasel family
Don't forget their 2 and 20 structure. They win regardless.
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ORD_Buckeye
Wrong glass, Sir.
I'd argue that it's oligarchic banana-republic capitalism finally meeting the real thing they always talk about.
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