New To Investing Thread

[steve dave]

Wall Street bets found out that there was 140% short interest and so they started buying up call options, which forced clearing houses buy the stock, which drove the price up which caused short sellers to try and cover their short position which drove the price up and the cycle went crazy from there once it got a whiff of good news with a new board member which just got more people following that trend.

All of that sounds highly illegal but it’s probably perfectly legal

yes and yes

[michigancat]

so I've always been very conservative with investment and pretty much have everything in tax advantaged accounts but I want to start something to play with and join the kk/sd stonk text group.

Is there like a minimum amount necessary to make it worthwhile? I mostly wanted to start with a couple hundred bucks and then put like birthday money from my grandparents in it (but maybe more if I have the magic touch).

with no fees/v low fees, you can speculate with pretty much any amount you want.  obviously, it's not worth your time, but if you enjoy it then i guess it is.

yeah. maybe I'll just put it all in a regular index fund. Not as much fun but whatever. my friends are just always making deals and talking shop and I feel left out.

[catastrophe]

I mean why not play around with a few hundred if it sounds fun.

Personally I imagine it’s just like fantasy football. Having a fun time researching and picking your stocks, then sitting back being miserable that the other ones you could have picked are doing 50x better.

[michigancat]

I mean why not play around with a few hundred if it sounds fun.

Personally I imagine it’s just like fantasy football. Having a fun time researching and picking your stocks, then sitting back being miserable that the other ones you could have picked are doing 50x better.

for sure. But I also don't do fantasy football because it seems like a waste of time.

[Kat Kid]

It costs $5/month to play with margin on Robinhood, but you can trade options for free. If you are trading options you are going to be checking that stuff like once an hour, if you are just buying individual stocks, you will probably check 2 times a day. If you are just buying some index funds you can just buy and ignore.

Depends on what you want to do with time/risk.


Sent from my iPhone using Tapatalk

[chum1]

Trading on margin out of the box is the absolute worst thing you could do. Start very small. Test theories and try to develop trading strategies. If a strategy pans out over time, scale up. It's fun!

[kim carnes]

Historically speaking, this is probably not the best time to be buying on margin.  But who knows, all asset markets are crazy at the moment, I never would have expected the market to be at 3850 right now.

[chum1]

GME shenanigans continue. Lol.

[DaBigTrain]

CALLED IT

[ben ji]

I read WSB every once in a while for fun and saw an article yesterday from bloomberg about the GME squeeze that mentioned WSB. Read up a little on it today and LOL.

I have no idea how this ends but I can't wait to find out.

[sys]

the reddit/gamestop thing is so bizarre.  i hope they all lose tons of money.

[sys]

 

https://twitter.com/williamlegate/status/1354181231148150787

[IPA4Me]

$53K to $22M for https://www.reddit.com/user/DeepFuckingValue with everyone pumping it every hour. Crazy to watch this.

[ben ji]

the reddit/gamestop thing is so bizarre.  i hope they all lose tons of money.

I'm rooting for WSB

[chum1]

I think there are plenty of good reasons to hate hedge funds. But I'm not sure whoever wrote this knows what a hedge fund is or does.

[chum1]

I'll always root for the little guy, though. Absolutely.

[Kat Kid]

the reddit/gamestop thing is so bizarre.  i hope they all lose tons of money.

I don’t think you hate populism, I think you just hate people.

[sys]

the reddit/gamestop thing is so bizarre.  i hope they all lose tons of money.

I don’t think you hate populism, I think you just hate people.

i'm hoping the short fund loses tons of money too, in this scenario.  they're all (both sides) just manipulating markets and gambling.  eff'em.

[chum1]

There will necessarily be both winners and losers. You have to pick a side.

[wetwillie]

The SEC can make both sides losers

[kim carnes]

the reddit/gamestop thing is so bizarre.  i hope they all lose tons of money.

I don’t think you hate populism, I think you just hate people.

I’d say you’re misguided about some things

[chum1]

The SEC can make both sides losers

Not the billionaire hedge funders. Not a chance.

[wetwillie]

The SEC can make both sides losers

Not the billionaire hedge funders. Not a chance.

I think they will be the market based losers in this scenario. 

[Kat Kid]

the reddit/gamestop thing is so bizarre.  i hope they all lose tons of money.

I don’t think you hate populism, I think you just hate people.

I’d say you’re misguided about some things

About this or just generally?

[chum1]

billionaire hedge funders.

I think they will be the market based losers in this scenario.

I tried to think about which side I would put my own money on. (1) I don't think these dudes below are going to want to back down at all - especially after already going in for a couple billion. (2) This is what they do. (3) They have billions more at their disposal.

Steve Cohen's Point 72, Ken Griffin's Citadel, and other partners are plowing a total of $2.75 billion into Melvin Capital, the hedge funds said on Monday. They will receive non-controlling revenue shares in Melvin in return for their money.