The Stock Market

that's a good idea. will try the paper method for a bit and see how i get on. even if that goes well i will literally only be spending very little money on the scalping endeavour, if i bother to do it at all

Anyone have any thoughts on Berkshire Hathaway? It absolutely trounced the S&P for most of its history but over the last 5 years or so has been kind of blah. Is it because Buffet is old and people assume he's the business?

apparently I cannot purchase shares of ILX online through Schwab.com ... oh well. I did look into other ILX-adjacent stocks, and found ILATF -- not that we have a subboard for I Love Alcohol Tobacco (and) Firearms

xp. friendship ended with warren buffet

now cathie wood is my best friend

oh no. Cathie is already over. Just kidding, i don't give opinions about whether a stock/etf is good or not but she got a lot of backlash recently for being a trump supporter weirdo biblethumper (the reason it's named ARK).

If her fund becomes full of illiquid tickers, just know it is the lord's path that he chose for her. They did really well last year!

i don't know enough about markets to judge but personally i am kind of weary about anyone with as much faith in tsla

Didn't Musk himself come out like 6 months ago and say "Hey guys, our future earnings can't possibly match these valuations!"

Or maybe it was longer ago

this is not an endorsement at all just an entertaining observation, today Gamestop went from $45 to $169 right now. I love this.

So I became an investing Maxxinista (TJX) and their stock is flat/up a little after reporting below-expected earnings (thanks, snow and cold), while Redfin (RDFN) beats whisper numbers and doesn’t have any glaring new downsides but is down a few bucks after hours, and Shopify (SHOP) did a similar thing last week. Learn in’ by the day!

I haven't actually picked an individual stock in years. I used to come up with really good ideas and then not hold them for long enough - I'd always panic and sell too early.

I now have $4.75 of unrealized gains on ILATF

ILBets

most stocks dump after earnings these days. People play the run up and buy short term options and the volatility on the options goes way up and the day after earnings is a let down or just random and options' volatility gets crushed.

The positive thing about that is, if it’s meant to be a medium/long-term investment, there’s an opportunity to buy more at a lower price, if pre-earnings doesn’t end up being an unrepeatable high.

listening to a podcast with the ARK head of research, pretty damn interesting tbh. Def taking with a grain of salt as to whether I'm listening to someone who generally has discovered some kind of unconventional thinking secret sauce or just a gladwell-esque storyteller

my account's broken even thanks to GME and AMC. insert rocket emojis here, degenerates!

GME is having an interesting one:

Day's Range 172.00 - 348.50

lol - of course, i don't check for an hour and my gains were undone

can't be holding on to these ultra volatile stocks

this is how people give themselves strokes...

good lord, it's climbing again.
gotta remind myself i held from $300 to $40. anyone else on this rollercoaster ride?

i have been doing paper-trading and i am staying the hell away from GME because it makes no sense to me. i want a volatile stock but not that volatile

i just put down 15 large on mcdonalds

If you bought the dip an hour ago, you'd already be back up 95 points per share. Insanity.

gonna dump some money into this next time it hits $40 and then it'll immediately sink to $2 and never recover

omg nhex, you've been holding since round 1???

did you average down at all when it was 40-50?

i don't understand the appeal of GME unless you are making all-or-nothing small bets with huge returns if you catch a spike

i am not sure the answer you are looking for; people trade all sorts of things for all sorts of reasons.

i posted this in the slack but this was good and it did a pretty accurate job of describing what happened minus how wsb was making fun of Jim Cr4mer and he started talking about gme all the time so the attention to it started to blow up (she is kind of known at this point re: her NOPE indicator)
https://nope-its-lily.medium.com/trading-salience-in-a-hyperconnected-marketplace-part-1-efbd93712dac

WSB's $GME play for seems like a kind of mass performance art or situationist happening, like levitating the pentagon only it actually gets off the ground for a bit here and there. I find the energy and nihilistic enthusiasm around it really fun and amusing tbh.

do not find amusing stories of people who "YOLO their mortgage" and lose though

they were doing that for other tickers before GME. people seem to forget the "bets" part of the name.

Weed stocks and experimental pharmaceuticals still seem to dominate the bets of WSB. YOLOing on the cure for brain tumors.

they were doing that for other tickers before GME. people seem to forget the "bets" part of the name.

― Yerac, Wednesday, March 10, 2021 6:58 PM (one hour ago) bookmarkflaglink

does that apply to the 7.5 million+ people who joined the sub strictly because of GME?

I am so glad that I invest in relatively boring things and these bros aren't fucking up my spot

meanwhile I watched about 45 minutes of a documentary about Warren Buffett the other night ... See's Candies are really fucking good btw

xxpost
does what apply? are the millions of new people forgetting about the bets part of the name? I know a lot of people drifted away from there because the amount of new people and bots made it unreadable, I am not sure what they are doing day to day.

i'm saying that this happened on the backs of a lot of first time investors who got caught up in WSB memes promising them riches, who didn't know the first thing about stocks other than "oh you can trade stocks on an app now, how easy"

there were obviously tons of bagholders whose lives became worse when the stock dropped and i can't really blame for getting caught in the ultimate FOMO get rich quick scheme. the millions of people who got caught up in it weren't getting a message of "this is risky and stupid, be careful," they were getting TO THE MOON DIAMOND HANDS nonstop for a week. you can say "they knew what they were doing" but this all blew up way too fast for that to be the case

like literally the entire message of the sub that week was "IF WE STICK TOGETHER WE CAN NOT FAIL", do you really think the sub having "bets" in the name is more powerful than that?

um, i don't work for wsb. but the entire deal with the robinhood congressional hearings and people being upset about the "gamification" of broker apps goes beyond what happened last week and GME.

you could very well replace gme with btc or pltr or cciv or any amount of other things there.

i mean yeah, when this was happening i was comparing it to the 2017 crypto boom, which also saw a few smart early adopters make a lot of money on the backs of an enormous drove of late adopters catching FOMO, having no idea what they're doing, and holding the bags when it crashed. it sucked then and it sucks now

the entire market has been a huge garbage dump for years. people are in lockdown with no money or assistance from the gov't, of course stuff was going to get more bonkers.

How do you get rich multiplying your investment by 10 buying a stock if you aren't already rich? I'd argue most of these lives would change more multiplying their investment by 0.1, which is the downside. Only people seeing anything special are buying options and then hyping shares. Why make them rich for a possible 10× upside at most?

And then post memes about how amazing they are bc you had 2 grand of unrealized gains

what? are you talking about those pump and dumpers with a lot of followers? like on twitter?

anyone like that including the kitty, yes