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WSB isn't like SuperStonk. SuperStonk is a get rich quick cult. WSB is for Bets and loss porn. It's where people go to celebrate losing money. It's not a plac

by hgsgm 4y ago

WSB isn't like SuperStonk. SuperStonk is a get rich quick cult. WSB is for Bets and loss porn. It's where people go to celebrate losing money. It's not a place where people trick you into "investing" in scams. Also, $75K debt isn't much for a software engineer with a brain as wrinkly as his. Article says he lost $6K of his girlfriend's money. He didn't even need to borrow any money from his wife's boyfriend, so he's not in deep relative to the average WSB user.

mckirk 4y ago
SuperStonk is still around? Have they pivoted from 'GME is gonna take off just wait for it any day now', or is that still the gospel?
- mrguyorama 4y ago
  That is still the daily claim. Right next to a post that claims to be "DD" that's just a quote from some tweet.
LarsAlereon 4y ago
WSB was meant to be the antidote to all those investing forums where people sit around talking about how much smarter they are than everyone else and how they will use their superior knowledge to make all the money and get all the women. WSB was about posting about how you just had the dumbest idea ever and are going to lose so much money that your wife will definitely leave you for her boyfriend. It wasn't literally about celebrating losing money, it was about starting from a place of humility and being honest about expectations. Overall this entire situation has made clear why there have always been such strong restrictions on individuals using risky investment strategies. It can lock people out of gains, but many simply shouldn't be able to ruin their lives so easily.
itake 4y ago
The article says the loan payments are half his (after tax?) income. European developers earn less than USA. Even in the usa, developers can make $50-70k/yr. You can see job postings by staffing agencies with lowball comp.
heybrendan 4y ago
You may be underestimating what r/SuperStonk has achieved thus far. Direct Registration System (DRS) [1][2], a system for book-entry ownership, has been successfully popularized by r/SuperStonk, over the last few years. From Gamestop's recent SEC filing, 10-K [3]: > Our Class A Common Stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “GME”. As of March 22, 2023, there were 197,058 record holders of our Class A Common Stock. Excluding the approximately 228.7 million shares of our Class A Common Stock held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares), approximately 76.0 million shares of our Class A Common Stock were held by record holders as of March 22, 2023 (or approximately 25% of our outstanding shares). Let's let that sink in: visitors of r/SuperStonk collectively own 25% of GME (and registered via DRS), throwing down >$1.5B USD. How can one not appreciate the magnitude of this accomplishment? It's absolutely unprecedented. When we look back on this, I'd wager that education will be r/SuperStonk's crowning achievement. Hundreds of thousands of people have mobilized thus far, and are taking an active interest in financial literacy, learning about market structure, reading quarterly statements, joining earnings calls, and submitting commentary to regulators in both the United States and Europe. When does a group of investors stop being a "cult" and effectively become a full-fledged movement? [1] https://www.computershare.com/ca/en/insync/summer-2016/about-drs https://www.computershare.com/ca/en/insync/summer-2016/about... [2] https://content-assets.computershare.com/eh96rkuu9740/630fe903fa8f4b81acd2c1ebfb8e5f05/a2e2389f35e8f0d48b814fdd14890c57/About_the_Direct_Registration_System.pdf https://content-assets.computershare.com/eh96rkuu9740/630fe9... [3] https://news.gamestop.com/node/19991/html https://news.gamestop.com/node/19991/html

by hgsgm 4y ago

mckirk 4y ago

SuperStonk is still around? Have they pivoted from 'GME is gonna take off just wait for it any day now', or is that still the gospel?

mrguyorama 4y ago
That is still the daily claim. Right next to a post that claims to be "DD" that's just a quote from some tweet.

LarsAlereon 4y ago

WSB was meant to be the antidote to all those investing forums where people sit around talking about how much smarter they are than everyone else and how they will use their superior knowledge to make all the money and get all the women. WSB was about posting about how you just had the dumbest idea ever and are going to lose so much money that your wife will definitely leave you for her boyfriend. It wasn't literally about celebrating losing money, it was about starting from a place of humility and being honest about expectations. Overall this entire situation has made clear why there have always been such strong restrictions on individuals using risky investment strategies. It can lock people out of gains, but many simply shouldn't be able to ruin their lives so easily.

itake 4y ago

The article says the loan payments are half his (after tax?) income. European developers earn less than USA. Even in the usa, developers can make $50-70k/yr. You can see job postings by staffing agencies with lowball comp.

heybrendan 4y ago

You may be underestimating what r/SuperStonk has achieved thus far. Direct Registration System (DRS) [1][2], a system for book-entry ownership, has been successfully popularized by r/SuperStonk, over the last few years. From Gamestop's recent SEC filing, 10-K [3]: > Our Class A Common Stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “GME”. As of March 22, 2023, there were 197,058 record holders of our Class A Common Stock. Excluding the approximately 228.7 million shares of our Class A Common Stock held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares), approximately 76.0 million shares of our Class A Common Stock were held by record holders as of March 22, 2023 (or approximately 25% of our outstanding shares). Let's let that sink in: visitors of r/SuperStonk collectively own 25% of GME (and registered via DRS), throwing down >$1.5B USD. How can one not appreciate the magnitude of this accomplishment? It's absolutely unprecedented. When we look back on this, I'd wager that education will be r/SuperStonk's crowning achievement. Hundreds of thousands of people have mobilized thus far, and are taking an active interest in financial literacy, learning about market structure, reading quarterly statements, joining earnings calls, and submitting commentary to regulators in both the United States and Europe. When does a group of investors stop being a "cult" and effectively become a full-fledged movement? [1] https://www.computershare.com/ca/en/insync/summer-2016/about-drs https://www.computershare.com/ca/en/insync/summer-2016/about... [2] https://content-assets.computershare.com/eh96rkuu9740/630fe903fa8f4b81acd2c1ebfb8e5f05/a2e2389f35e8f0d48b814fdd14890c57/About_the_Direct_Registration_System.pdf https://content-assets.computershare.com/eh96rkuu9740/630fe9... [3] https://news.gamestop.com/node/19991/html https://news.gamestop.com/node/19991/html