4 ms·
> There are plenty of "Average people" that entered near the top, and since not everyone can sell simultaneously, that means a ton of people are losing the life
by notyourday 6y ago
> There are plenty of "Average people" that entered near the top, and since not everyone can sell simultaneously, that means a ton of people are losing the life savings they dumped into this out of excitement as it crashed back down.
Most of "average people" entered at or near the top. The ones that did not were so engaged in gambling that they did not sell when it did 20x return. Call it what it is: fear of missing out.
Even DeepFuckingValue, who sold at least some of this position and netted a lot of money after taxes was not smart enough to say that 20x return in a few months is a time to pack the toys and go home so he could fight another day, leaving millions on a table in a futile hope that it would do much, much better.
- cperciva 6y agoI think DeepFuckingValue is smarter than you give him credit for. It's worth leaving $20M on the table if it lets you tell the SEC "look, I'm clearly an idiot, there's no way I could have been deliberately engineering a pump and dump scheme". Better to take $15M of profit than to gamble $35M on the SEC deciding not to prosecute.
- ac2u 6y agoIf he did offload his entire position at the "top", and became seen as a symbolic catalyst of a subsequent drop, I reckon it's randomers on the internet that took a loss that he'd be more worried about. Especially when the newspapers decided to plaster his real identity all over the place.
- vimy 6y agoThe SEC doesn’t have a case. He’s been holding for 2 years and was laughed at many times by people on the wallstreetbets sub.
- cperciva 6y agoThe SEC wouldn't be prosecuting him for holding GME. They would be prosecuting him for pumping up the stock price.
- vimy 6y agoMy point is that the sub didn't take him and GME seriously until December or something. You can't be a laughing stock and a pump and dump mastermind at the same time.
- cperciva 6y agoI'm not so sure about that. Spending 2 years trying to pump the stock and failing doesn't change what happened later. You can't escape a murder charge by saying "I spent two years trying and failing to kill the victim"!
- alasdair_ 6y agoIt's completely possible that DFV has a second account that he doesn't share screenshots of, that bought puts on the stock near the peak just to hedge.