4 ms·

Nonononononono. Let's get some things straight because the volume of disinformation regarding WSB is enormous and keeps spreading at a rate worse than covid, a

Nonononononono. Let's get some things straight because the volume of disinformation regarding WSB is enormous and keeps spreading at a rate worse than covid, and the amount of BS i have read even here is just mind boggling. RoaringKitty/ DeepFuckingValue simply observed that GME had value, did his due diligence, talked about it/presented his thesis on youtube and reddit a myriad of times and there are other thesis as well backing him up [1]. The short squeeze had nothing to do with it. When I joined in I didn't know what a short squeeze was, I read the thesis and it made sense to me, so much so, that I found additional paths based on observation that further increased GME's odds of rebound. The squeezing was not orchestrated by any single entity. WSB is not a collective, it is not a 'group', there are no hierarchies, nor master minds. Here is how WSB operates: A user does some due diligence (DD), and decides that X is a great investment opportunity because there is value (this is what DFV did). Any user is allowed to comment or refute said DD. In the end, none of it is financial advice, it is nothing more than, hey this is interesting take a look. All of this is based on public information that anyone and everyone is allowed to access. We don't do insider trading like the politicians or HFs. Then during the summer somebody realized that it was actually possible to achieve a short squeeze simply because certain companies overshorted the stock [2]. The user presented the thesis and again, anyone was allowed to refute or argue about it. Again, none is financial advice. Over the next weeks people read more about it and decided that it was a good idea to join in, simply because Ryan Cohen went on board and there were some other catalysts as well. While all of this was happening. WSB was vilified, ridiculed, attacked, and subject to FUD [3]. If you read anything about WSB from anyone. Assume you have been duped, and that includes my comment as well, see for yourselves [4,5]. All we do is literally bet on stocks based on publicly available information. The fact that the media has attacked and vilified the proletariat with nothing to lose instead of those with billions and everything to lose suggests there is more to the story than a bunch of fiscally irresponsible and self proclaimed retards and autists tanking the market [6,7,8,9]. [1] https://gmedd.com https://gmedd.com [2] http://isthesqueezesquoze.com/ http://isthesqueezesquoze.com/ (includes numbers, read up) [3] https://www.reddit.com/r/wallstreetbets/comments/l9auf5/important_gme_short_attack_tactics_predicted_in/ https://www.reddit.com/r/wallstreetbets/comments/l9auf5/impo... [4] reddit.com/r/wallstreetbets Some examples of due diligence [5] https://www.reddit.com/r/wallstreetbets/search/?sort=top&q=flair%3ADD&restrict_sr=on https://www.reddit.com/r/wallstreetbets/search/?sort=top&q=f... [6] https://www.wsj.com/articles/melvin-capital-lost-53-in-january-hurt-by-gamestop-and-other-bets-11612103117 https://www.wsj.com/articles/melvin-capital-lost-53-in-janua... Tin foil hat for this one: [7] https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/ https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_... A recap of the story by one of the og mods of WSB [8] https://www.buzzsprout.com/1657678/7585834 https://www.buzzsprout.com/1657678/7585834 Bad day eh. [9] https://www.reddit.com/r/wallstreetbets/comments/l9czx4/this_is_what_covering_their_ass_looks_like/ https://www.reddit.com/r/wallstreetbets/comments/l9czx4/this... Some interesting reads, to see for yourselves: WSB in a nutshell: https://www.reddit.com/r/wallstreetbets/comments/l9c1ca/wsb_in_a_nutshell/ https://www.reddit.com/r/wallstreetbets/comments/l9c1ca/wsb_... FOR EVERYONE THAT JUST JOINED BECAUSE OF $GME AND DONT KNOW WTF IS GOING ON: https://www.reddit.com/r/wallstreetbets/comments/l9cz1k/for_everyone_that_just_joined_because_of_gme_and/ https://www.reddit.com/r/wallstreetbets/comments/l9cz1k/for_... The real reason Wall Street is terrified of the GME situation https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_real_reason_wall_street_is_terrified_of_the/ https://www.reddit.com/r/wallstreetbets/comments/l97ykd/the_... $GME price has nothing to do with fundamentals and everything to do with financial economics https://www.reddit.com/r/wallstreetbets/comments/l6u96y/gme_price_has_nothing_to_do_with_fundamentals_and/ https://www.reddit.com/r/wallstreetbets/comments/l6u96y/gme_...

gota 6y ago
Thank you for the detailed post. I don't have a strong opinion on the morality/fairness/adequacy of all this like you seem to. I'm not making any judgements on the situation, just trying to check whether I got a rough generally accepted understanding of what happened. Would appreciate input on the following - As far as I can tell this got so much momentum because: 1 - the price increase in a couple of days lended "credence" to the theory of a short squeeze ("OMG this is real", relates to FOMO) regardless of whether it was the case 2 - the way reddit works by popularity ensured that the front page was full of memes and posts from WSB, and has been for 2 weeks 3 - there was a strong perception of an organized pushback by the established traditional powers, starting with mainstream media and - 4 - the "attacks" on WSB via discord banning, limiting operations in Robinhood etc. These items, in this sequence, with a lot of community reinforcement along the way (exceptional loss and gain "porn" daily) have flared up emotions about how the traditional financial market is unfair to the "common people"
- PartiallyTyped 6y ago
  Re 1, this was due to a significant mismanagement by Market Makers (too many contracts that ended up in the money forced them to purchase the stock), in particular that gamma squeeze helped build momentum, and the other nearly parabolic increase before the heavens nearly fell and buying needed to be halted due to liquidity issues. Re 2, there are two things at play regarding how reddit works, WSB was one of the biggest non default subreddits even before the whole ordeal began, the other catalyst is the sheer volume of awards given within the subreddit that help push it up. re 3: rightfully so, the amount of misrepresentation and vilification only increased the perception of organized opposition, to the point where wsb was labeled as an alt right group. Talk about politics of any form is banned, period. The only instance of politicians that i have seen is Trump dancing (he wasnt ridiculed in the meme), and the fact that AOC and Don Trump Jr agreed. re 4: You can not begin to imagine the amount of bots posting absolute nonsense during the time. Had it not been for the mod team and the reddit team, the whole reddit would have shut down.
ratsmack 6y ago
>The fact that the media has attacked and vilified the proletariat with nothing to lose instead of those with billions and everything to lose suggests there is more to the story than a bunch of fiscally irresponsible and self proclaimed retards and autists tanking the market [6,7,8,9]. I've been trading for the better part of 40 years. There has always been a certain segment of the media that shills for the big guys daily, including people like Jim Cramer. They use this media leverage against each other and anyone that threatens their dominance... it's just WSB turn to be subjected to the wrath of the financial media.

gota 6y ago

Thank you for the detailed post. I don't have a strong opinion on the morality/fairness/adequacy of all this like you seem to. I'm not making any judgements on the situation, just trying to check whether I got a rough generally accepted understanding of what happened. Would appreciate input on the following - As far as I can tell this got so much momentum because: 1 - the price increase in a couple of days lended "credence" to the theory of a short squeeze ("OMG this is real", relates to FOMO) regardless of whether it was the case 2 - the way reddit works by popularity ensured that the front page was full of memes and posts from WSB, and has been for 2 weeks 3 - there was a strong perception of an organized pushback by the established traditional powers, starting with mainstream media and - 4 - the "attacks" on WSB via discord banning, limiting operations in Robinhood etc. These items, in this sequence, with a lot of community reinforcement along the way (exceptional loss and gain "porn" daily) have flared up emotions about how the traditional financial market is unfair to the "common people"

PartiallyTyped 6y ago
Re 1, this was due to a significant mismanagement by Market Makers (too many contracts that ended up in the money forced them to purchase the stock), in particular that gamma squeeze helped build momentum, and the other nearly parabolic increase before the heavens nearly fell and buying needed to be halted due to liquidity issues. Re 2, there are two things at play regarding how reddit works, WSB was one of the biggest non default subreddits even before the whole ordeal began, the other catalyst is the sheer volume of awards given within the subreddit that help push it up. re 3: rightfully so, the amount of misrepresentation and vilification only increased the perception of organized opposition, to the point where wsb was labeled as an alt right group. Talk about politics of any form is banned, period. The only instance of politicians that i have seen is Trump dancing (he wasnt ridiculed in the meme), and the fact that AOC and Don Trump Jr agreed. re 4: You can not begin to imagine the amount of bots posting absolute nonsense during the time. Had it not been for the mod team and the reddit team, the whole reddit would have shut down.

ratsmack 6y ago

>The fact that the media has attacked and vilified the proletariat with nothing to lose instead of those with billions and everything to lose suggests there is more to the story than a bunch of fiscally irresponsible and self proclaimed retards and autists tanking the market [6,7,8,9]. I've been trading for the better part of 40 years. There has always been a certain segment of the media that shills for the big guys daily, including people like Jim Cramer. They use this media leverage against each other and anyone that threatens their dominance... it's just WSB turn to be subjected to the wrath of the financial media.